If you manage several commercial properties, you may be asking yourself “Should I use a property management company?” A commercial property manager can be a huge asset to real estate investors. They assist with the day-to-day operations that are required to keep the building operating smoothly. With the help of a property manager, the landlord can step away from the smaller tasks. This allows them to focus on other investment opportunities and expand their real estate portfolio.
As the face of the commercial property, the property manager is the go-to resource for the tenants. Their responsibilities can range from collecting the rent and managing expenses to fulfilling maintenance requests and enforcing leases. Follow along as Price Commercial Management outlines the benefits of hiring a property manager as well as how to evaluate your return on investment.
Benefits of Using a Property Management for Commercial Real Estate
Do you have a portfolio of commercial real estate investments? Here are some benefits of delegating your day-to-day tasks to a property management company:
- Spend your time more wisely – Managing a commercial property is a time-consuming job. You can save time by delegating some of your responsibilities to a property management company. A property manager allows you to make better use of your time, letting them handle the happenings at the property.
- Get insights into the market – A property manager has experience working in your desired commercial market. This will ensure your commercial investment is being assessed on both economic data and first-hand experience in your market.
- Minimize the number of vacancies – Your goal is to drive as much profit through your rental property as possible. To do that, you need to have as much of the space rented out as possible. A property management team will do everything in their power to minimize the number of vacancies. This includes keeping current tenants satisfied so that they will continue renewing their lease.
- Work with reputable vendors – Keeping your property operating smoothly can seem like it takes an entire village. But you don’t want just any contractors working on your property — the wrong ones may cause more headaches for you. All reputable commercial property managers will have a list of industry resources available at your disposal. You’ll have access to a list of sourced vendors — saving you time and money.
How to Evaluate the Return on My Investment for a Property Manager
Hiring a commercial property manager can also help landlords increase their overall return on investment. Here are a couple of ways a property manager can help impact your ROI:
As the landlord of the property, you need to consider where the best use of your time lies. The value of your time is much greater than the hourly rate of any employees assisting you. Delegate these tasks to other individuals for a fraction of the cost. Doing this will allow you to spend your time focusing on expanding your portfolio.
A commercial property manager has the knowledge and know-how to evaluate and analyze your property’s performance. They will look at your return on investment and provide insightful financial reports to monitor the progress of your properties.
Hire Price Commercial Management to Manage Your Property
Utilizing a property management team can streamline all your processes and give you a completely hands-off role. A Price Commercial Management property manager will help you ensure your property and your tenants are well taken care of resulting in long-term, happy tenants and a strong cash flow. We provide investors the opportunity to take a hands-off approach while confidently knowing their properties and tenants are in good hands. Have more free time while we ensure your properties continue to be a source of income.
Price Commercial Management crafts customizable property management plans based on client needs, including:
- Rent Collection
- Lease Enforcement
- Monthly Property Reporting
- Expense Management
- Revenue Enrichment
- Property Assessments Scheduling
- Routine and Preventative Maintenance
- Relationships with Licensed and Insured Contractors
- Aesthetic Maintenance
Free yourself from the hassle and burden of managing your own properties. Let our trusted and proven record go to work for you. Contact Tyler Walsh to get started today.