Risk Managing Multi-Tenanted Properties

Risk Managing Multi-Tenanted Properties

Even though tenants are generally obliged to keep the premise “ in good repair and condition” it is strongly encouraged that property owners conduct their own regular self- inspections relating to property and safety hazards.  The self-inspections should be formalised to ensure consistency and traceability.  This can be completed by a property agent on behalf of the landlord.  Some common items which should be overseen by the landlord on a regular basis include:

1. Management controls are being followed by the tenant and any contractors employed by the tenants
2. The appropriate insurances are acquired and current
3. All fire protection systems are being maintained
4. All fire extinguishers, hose reels, hydrants and fire doors are unobstructed
5. Fire protection impairment procedures are used accordingly
6. Dangerous goods/hazardous substance risk assessment is current
7. Any alterations and fit-outs have been approved
8. All valuables are secure so as not to attract theft
9. The storage and handling of flammable and combustible liquids and gases are appropriate
10. There has been no disruption or deterioration of any asbestos containing materials within the building