If you own commercial property you’ll probably be aware how time consuming the management side of things is. If you’re going to get a good return on your commercial property you need to ensure there are long-term quality tenants, the building is maintained regularly, any emergencies and issues are attended to immediately and leases are negotiated effectively.
All this is a lot of work and unless property management is your full time job, you’re going to have trouble fitting it in with other work and family commitments. This is where professional property management can help. A commercial property management company can take a lot of the stress and hard work off your hands, leaving you to enjoy the regular income that you can get from your investment.
In case you’re not sure whether hiring a property manager is right for your commercial property, here are a few of the ongoing tasks your property manager will perform:
- Rent appraisals. Finding out what your commercial property is worth requires some insider knowledge and understanding of the market. This is a task that is best undertaken by a property manager with experience managing commercial properties that are similar to yours.
- Marketing your property. You’re going to struggle to find tenants if nobody knows your property exists. A property manager will know how and where to promote your commercial property to attract the right kind of tenants.
- Tenant screening. Bad tenants can be disastrous for your property and an experienced property manager will conduct all the necessary background checks to ensure you only get quality tenants.
- Lease negotiation. A lease is a legally binding agreement and it needs to comply with local legislation to be effective. Your property manager will be able to handle your lease negotiation and ensure you and your tenants are protected.
- Maintenance. Your property manager will arrange proactive and reactive maintenance where needed. Most property managers have a list of reliable contractors they can call on at any time.
Professional property management can save you time and money and help you protect your investment over the long term. To find out more about what a property management company can do for you, give us a call at Enhance Services today.