Let’s face it. You are busy and if you own commercial real estate, managing the building and tenants probably isn’t your full-time job. So what do you do? Hire a property manager! There are many benefits to hiring one.
But we’ve narrowed them down to five important reasons why it’s worth your time to hire retail, commercial, or business property managers.
1) They will know the market better than anyone else
One of the most rewarding parts of commercial real estate is finding that hidden gem in tough times. Commercial managers are constantly on their toes, taking advantage of every opportunity before it’s too late! Commercial Property Managers know the market better than anyone else, so they can help find those high-value properties before anyone sees them. Also, they know many aspects, from tenant representation and maintenance services down to accounting or leasing responsibilities, depending on what you need them for.
2) Get the Best Deals on Your Commercial Property
The commercial property manager will negotiate on your behalf for better deals with landlords, vendors, and tenants. They’ll also search out new opportunities to save you money by negotiating rates that are lower than what’s offered by competitors or locales nearby!
3) You Can Free Up Time in Your Schedule by Hiring Someone Else to Handle this Responsibility
Commercial property managers are the best people to handle leasing, marketing, maintenance, and other day-to-day activities on your property. They are experts in the field of commercial real estate. They do not have to focus on other aspects of business like you do. Therefore they can dedicate their full attention to your property.
While you are working on your business, the commercial property manager is working on your building. You will free up more time in your schedule if you hire a commercial property manager for this reason alone.
4) Commercial Property Managers Get You Tenants
Commercial property managers are experts in finding new clients for your properties. They can bring in new tenants with ease because they know what kind of tenants each building needs. You would not be able to accomplish this easily without having an expert on your side. Once you have excellent tenants in place, you will be able to relax knowing that they will pay rent on time every month without fail. This is especially important if you own multiple buildings because it will allow you to avoid wasting time calling around or checking in with each building you own.
4) They will do Routine Maintainance of Your Building for You.
Our daily schedule may be too hectic to handle routine, low-priority maintenance such as leaky faucets or broken windows. Having a commercial property manager deal with these issues will help keep your building in good condition, essential for tenant retention and attracting new tenants.
Tenants aren’t always right, but if they need repairs or have questions about your lease agreement or policy, it’s best to have someone on hand who can help them out immediately.
5)They Carry Out Eviction Procedures in Case of Tenant Defaults
Commercial property managers have experience with evictions. They can work with local courts to file an eviction notice if they must. When it comes time to evict a tenant, they know what paperwork they need to file & how long it can take to complete the process. A professional property manager can handle an eviction for you quickly and easily, so you don’t have to deal with it yourself.
It’s time to put your investment property to work! Don’t let it sit there collecting dust!
Hiring a commercial property manager is the best way to have peace of mind as your valuable real estate asset will be taken care of. Let us know if you are on the lookout for an experienced, dependable commercial property management team for your business. We are commercial property managers ourselves in Orange County, LA, Anaheim, and other areas in greater California. Contact us!