Commercial property is an investment that can yield huge dividends—but not if you take a “set it and forget it” approach. Like most investments, commercial real estate is something you have to tend and manage. The demands of this can be extreme, which is why many commercial real estate owners hire professional management teams to help them out.
Enlisting the services of a commercial property manager can offer a number of benefits. In this post, we’ll highlight just a few of them.
The Benefits of Hiring a Commercial Property Manager
A property manager can help you get the right tenants. Generally speaking, you’ll have a smoother time and a more successful investment if your tenants are happy. This means screening them properly, making sure they are good fits for your property and that they’ll get along well with their neighbors. A professional management company can conduct screenings for you, ensuring both high tenant satisfaction and retention.
A property management company can advertise for you. What happens when you have a vacancy in your building? You need to fill it quickly, or else you’re losing money—but the vacancy won’t get filled if nobody knows it exists. That’s where advertising comes in; a property management company will have access to all the tools and channels needed to promote your building or property.
Property managers can handle maintenance. Let’s face it: In any building—whether a private home or a retail store—maintenance and repair needs are going to arise. You can handle them yourself, but doing so can almost be a full-time job in and of itself—and that’s assuming you have the technical expertise for it. A better option is to entrust maintenance and repair needs to your property management company.
A property management company will also handle collections. People need to pay you for space in your building—but how do you collect those payments? And what do you do if a payment is delinquent? Those are both issues that your property management company can step in and assist with.
Property managers can address legal issues. To be clear, your property manager is probably not going to be an attorney. With that said, property managers know a lot about staying with state and government regulations, and avoiding anything that might lead to a legal challenge. That insight can be invaluable!
Learn More About Commercial Property Management
The job of the commercial property manager is to be your advocate, your helper, and your counsel—in short, making your investment as successful as possible, all while minimizing the daily responsibilities you have to worry about.
That’s something we’re passionate about here at Kuester CRE. We’re happy to point you toward Kuester Management Group, and also to note that we have a new property manager on site at our Fort Mill Headquarters (hi, Kelly Clark!). We invite you to learn more about the benefits of choosing us as your property management partner. Call our toll-free number today: 855-723-2500.