Real Estate – Asset Management Handover
At Collas Crill, we understand that you look for a streamlined approach requiring the minimum input from you. Here's how we can help:
We work to your timescale and can either work with the outgoing team on a phased handover picking up new matters as they arise, or take over all existing matters as well as new instructions.
The outgoing legal team should prepare a management report which we will review along with the asset manager.
With experienced lawyers handling your instructions, we look to establish a personal relationship which means you get consistent advice from someone you know and trust.
It is important to get all the relevant management information quickly. To assist, we will provide you with a list of information to be requested from the outgoing legal team and the asset manager.
- Schedules of deeds and documents
- Precedent lease and associated legal documents
- Service charge information (last three years’ accounts and current year’s budget)
- Building’s Insurance details
- GOAD plans
- An up to date tenancy schedule
- Tenant’s handbooks and any other relevant management documents
- Contact details for key personnel
- Details of any arrears and dispute
- VAT registration and election details
We will prepare manuals for each property, which contain information that we will regularly require such as:
- Details of your management team and other advisors
- Details of the service charge
- Buildings Insurance
- Any speciﬁc matters that need to be considered such as superior landlord and mortgagee consents
- Replies to CPSE enquiries
We will keep these up to date at all times and this will allow us to be pro-active on new lettings and deal with any issues or questions as and when they arise.
Review Of Precedents
We will review the precedent form of lease and supplementary documents as part of our take-on process and obtain your approval to any suggested amendments.
Review Of Title
We will review the title and prepare a brief summary report to assist in the management of each property. This would then be included in the relevant procedure manual so that the core information will be readily available.
So that any new letting runs smoothly, we will prepare a document pack to be sent out to the prospective tenant’s legal adviser. Included in the pack will be:
- The draft lease and any ancillary documents
- Copy of the title
- Extract of any superior lease
- Tenant’s handbook
- Details of the Service charge
- VAT elections
- Building’s Insurance
- Replies to CPSE enquiries
The tenant’s solicitors will be keen to start their review, and having a leasing pack speeds up the letting process. We will also provide a plan for search purposes.
On the assumption that the outgoing team are prepared to meet, provide us with the precedent documents and handover originals, we will not charge a fee for project managing a handover.
At Collas Crill, we aim to provide a seamless transition demanding as little of your time as possible. Our experienced lawyers will provide practical, cost effective solutions with personal service.