A competent and efficient commercial property manager may add significant value to a landlord’s investment. Many experienced property investors will tell you that good management is invaluable; so let’s examine why:
Higher Quality Tenants
Quality tenants are the key to a successful investment. The Agreement to Lease needs to be signed only after an in depth Due Diligence period to check the financial standing and reliability of the prospective tenants who will most likely:
• Pay their rent and operating expenses on time
• Require a longer lease term
• Place less wear and tear on the property; and
• Cause less other issues
An experienced commercial property management will be able to professionally deal with potential tenants, understand that prospect’s business, as well as having the ability to assess not only their current property needs but also their future.
Fewer costly and time-consuming legal problems
A pro-active commercial property manager will maintain vigilance to be aware of:
• Unpaid Rent
• Property damage
• Bad Lease preparation
• Early Terminating leases
The diligence of the property manager is the key. Employ the right company for the right reasons for the right outcomes.
Debt collection process
A property manager acts on behalf of the landlord. It is the responsibility of the commercial property manager to initiate the recovery process for unpaid charges by the tenant. In extreme cases legal assistance may be required.
Lower maintenance and repair costs
Well maintained properties result in the elimination of one of the main reasons why tenants wish to change tenancies. Maintaining a quality property will preserve the value of the landlord’s investment. A reputable commercial property management company will make available their own in-house maintenance staff, as well as their network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work. This can translate into significant savings and satisfaction for the landlord. The management company can receive volume discounts on maintenance work and they can employ contractors who they can rely on for their trade skills and their assessment of maintenance issues.
Increase the value of the investment
The enhancing of the value of a property for an investor should be the primary goal of any capable commercial property manager. A focus on providing a high level of personal service, professionalism and integrity is required to form a strong, inter-active relationship with landlords.
To discuss your commercial property management requirements, you are most welcome to contact Natalie Bell either at the Maat office on 09 414 6078 or on mob. 021 195 9937 or email email@example.com