Everything You Need to Manage Commercial Property

discussing property managementWhether you are managing an office building or a warehouse, it’s crucial to not only keep up the building’s interior and exterior, but to keep up with all of the paperwork involved. Here is a brief checklist of all of the financial statements, deeds, licenses, and other documents that come with managing commercial real estate in the Raleigh-Durham area.

Deeds and Documents for the Property

  • Deed and Deed of Trust if there is a mortgage on the investment
  • Title search and policy
  • Property tax verification
  • Licenses/permits/zoning
  • Insurance

Inspection Paperwork for the Property

  • Inspection records
  • Engineering inspection and survey
  • Environmental inspection and survey
  • Fire inspection

Maintenance-Related Documents

  • Janitorial service
  • Landscape management
  • Snow and ice removal

Paperwork for the Management Company

  • business professionals discussing paperworkHow will ownership be held: LLC, S-CORP, C-CORP, 501 C, TRUST
  • Business license
  • Phone/computer systems
  • Copy of all leases
  • Service/advertising contracts
  • Inventory
  • Litigation history

Financial Documents for the Company

  • Financial audit
  • Financial records
  • P&L and Balance Sheet
  • Tax returns
  • Rent roll including term, deposit, payment history
  • Payroll register
  • Utility bills

Partner with Craft Commercial

As a trusted name in real estate in the Triangle, Craft Commercial seeks to deliver extraordinary results to commercial property investors. If you are purchasing and managing property in Raleigh, Durham, and beyond, contact the specialists at Craft Commercial at 919-446-5000 or info@craftcommercial.com.

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