Real Estate Property Management SOP

1. Purpose of the Procedure:

The purpose of this Standard Operating Procedure (SOP) is to establish a

systematic and efficient process for managing real estate properties from the
moment they are received until they are handed over to tenants. This SOP aims to
ensure effective coordination between various departments involved in property
management, including the legal department, inspection and maintenance team,
and lease department.

2. Abbreviations:

a. SOP - Standard Operating Procedure

b. PM - Property Management
c. LDP - Legal Department Process
d. IMP - Inspection and Maintenance Process
e. LDP - Lease Department Process

3. Scope:

This SOP applies to all members of the property management team involved in the
management of real estate properties, including property managers, maintenance
technicians, legal department personnel, and lease department personnel.

4. Legal Department Process (LDP):

a. The property management team shall collaborate with the legal department
to ensure compliance with all applicable laws and regulations governing real
estate property management.
b. The legal department shall review and update lease agreements, contracts,
and other legal documents to align with current laws and protect the
interests of both the property owner and tenants.
c. Any legal concerns or disputes that arise during the property management
process shall be promptly escalated to the legal department for appropriate
action and resolution.

5. Inspection and Maintenance Process (IMP):

a. The property management team shall develop a structured inspection

schedule to assess the condition of properties and identify maintenance
needs.
 b. Upon receipt of maintenance requests from tenants, the property
management team shall promptly address and resolve the issues,
documenting all maintenance activities.
c. A list of qualified vendors and contractors shall be maintained to efficiently
handle repairs and maintenance tasks.
d. Regular preventative maintenance tasks, such as HVAC servicing,
plumbing checks, and landscaping, shall be scheduled and carried out to
ensure the optimal condition of the properties.

6. Lease Department Process (LDP):

a. The property management team shall advertise properties through

appropriate marketing channels to attract potential tenants.
b. Thorough tenant screenings, including background checks, credit history,
and employment verification, shall be conducted to ensure the suitability of
prospective tenants.
c. Lease agreements shall be prepared, clearly outlining the terms and
conditions of the tenancy, including rent, security deposit, lease duration,
and any additional clauses.
d. The property management team shall collect rent payments, manage
financial aspects of the lease, track delinquencies, send payment
reminders, and initiate eviction processes when necessary.

7. Conclusion:

This comprehensive SOP for real estate property management provides a

structured approach from receiving new properties to handing them over to
tenants. By following this SOP, the property management team can ensure efficient
coordination, legal compliance, proper inspection and maintenance, and effective
lease management, ultimately enhancing the overall management of real estate
properties.

8. References:

a. Property Maintenance Guidelines SOP

b. Tenant Move-In/Move-Out Checklist SOP
c. Lease Renewal Process SOP
d. Property Renovation/Remodeling Procedures SOP
 NEW RENOVATED
PROJECT PROPERTY

PROPERTY
INSPECTION

NO NO
ACC
EPT

YES

MAINT. &
CLEANING
YES

NO
LEASING REM
DEPT. ARK
PROCESS

YES
AGR
LEGAL DEPT. &
DOC

NO

TENANT CONTACT
SCREENING TENANT

REJECT
SITE
INS.

ACCEPT

TENANT
ONBOARDING