A checklist for handing over and taking over a property portfolio
When management of a portfolio passes from one firm to another, details are lost unless inventoried. The checklist covers what is handed over and received: unit inventory, lease files, balances, keys, the maintenance history, with a caution on personal data.
Who this guide is for
Property managers handing over or taking over a portfolio, and portfolio owners.
Before the handover
Agree in writing on the handover date and who hands over and who receives, and determine whether your work is handing over or taking over. Review the management contract to see what the outgoing firm is bound to hand over when the relationship ends. Prepare a list of the properties, units and open obligations, then ask the portfolio owner to confirm the list personally; this is the owner's confirmation and not an official procedure.
What is handed over
There are six usual categories: the unit inventory, lease files, balance statements, keys and documents, the maintenance history, and tenant records. Match each category against your list and record anything missing or impossible to hand over, with the reason. Contracts, their payment and registration remain on Ejar, so keep contract numbers and dates as references that point to Ejar, and do not treat the copy you hold as a substitute.
Tenant records
Tenant records are personal data, so transfer only what is needed to continue management, and do not keep identity copies merely for registration. Pass them on through a protected channel rather than public messages, and record who received them and when. Dispose of copies you are no longer responsible for in line with your contract and your privacy policy.
After the handover
Write an internal record stating what was handed over and what was missing, and have both parties sign it in a way they agree on. Then notify current tenants and providers of the change of firm. If you request proposals for the portfolio's services through Thibrh, attach the inventory to the scope so the provider knows the size of the work. Remember that this handover is internal between the parties and is not an official procedure on any government platform.
Key points
- Agree in writing the date, parties and list.
- Categories: units, leases, balances, keys, maintenance history and tenant records.
- Contracts and their payment remain on Ejar.
- Tenant records are personal data and are transferred only as far as needed.
- The handover is internal, not an official procedure.