Is It Right For You?
So you own an investment property and now are considering hiring a property management firm to handle all the day to day operations. How do you determine if you need a property manager? What if you still want to do some of the hands on work? Can you tailor the services you would like the firm to provide? These are all very important questions and we will try and answer them here.
The first thing to consider is if you have to travel to your property(s). Serious maintenance issues or late rent payments are not easily dealt with from thousands or even hundreds of miles away. The second item to consider is do you own more than one property? Juggling multiple tenants, budgets and maintenance issues for more than one property can quickly become overwhelming. As a side note, even a single large or multiple tenant property can burn out the most seasoned property owner if several issues arise at once or continue over an extended period of time.
Your third situation to ponder is are you capable of securing quality tenants to rent your space? In today’s commercial property industry, digital marketing is the only truly effective way to reach potential tenants. If you are busy trying to stop leaking toilets, feuding tenants or balancing a budget, chances are you don’t have time to focus on marketing that great little corner office that was vacated last month. Even creating a simple, yet attractive, marketing flyer can be a daunting task without the proper software and knowledge. And last but not least, you just prefer a hands-off approach.
What Can a Property Manager do For You?
A qualified seasoned property manager can handle all of the above and more. From creating marketing packages and placing them on CoStar and LoopNet, assuring new tenants are qualified, creating and balancing budgets, securing maintenance contracts with qualified and licensed vendors to organizing the legal aspect of collecting past due rent, hiring a property management firm will add serious value to your investment. Leasing a professionally managed space is far more attractive to potential tenants than leaving them wondering who will fix the broken door handle. The bottom line you need to consider is how much is your time worth to you and do you want to add value to your investment.
Our commercial property management service is second to none. Our portfolio currently under management is approximately 260,000 square feet. We specialize in creating individualized management plans to meet each property’s unique needs. Need bookkeeping? We do that! Need a maintenance contract with multiple vendors? We do that! Need to lease that odd space in the back? We do that! Want assurance that your investment is going to continue to thrive and increase in value? We make that happen!
Call Pamela today for an in depth analysis of your property and what services would be the best fit for you and your tenants.