The First 30 Days
as a Commercial Property Owner

The first 30 days are critical for setting up your investment for success. Here’s what to prioritise to protect income, keep tenants happy, and avoid surprises down the track:

Day 1-7: Secure the Essentials

• Confirm the handover package: Ensure you have all tenancy agreements, tenant ledgers, outgoings budgets, and compliance certificates.
• Update ownership details: Notify tenants, update council rates, utilities and strata record, and set up your bank account for rent and outgoings.
• Get your insurance in place: Arrange cover immediately and issue certificates of currency.

Day 8-14: Meet Your Tenants

• Introduce yourself (or your Property Manager): A simple email or call goes a long way. Confirm everyone’s contact details and explain how maintenance requests will be handled.
• Review your lease obligations: Understand rent review dates, options, and make-good clauses so there are no surprises later.

Day 15-30: Know Your Asset

• Do a full audit of the property: Chances are you already did a high-level audit before purchasing. Now is the time to check compliance items like fire safety, essential services, and maintenance schedules.
• Review the financials: Verify the rent roll, arrears position and outgoings structure, and align your GST and BAS cycles with your accountant.
• Plan ahead: Start thinking about your annual budget and any capital works that may be required.

The first 30 days can set the tone for your whole ownership experience. A proactive approach means fewer headaches, happier tenants, and a stronger return on investment.

Get in touch with our team to learn more.