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10 Things a Commercial Property Management Company Can Do For You

So you’ve decided to invest in commercial properties…perhaps a shopping center. What do you do next? Many investors face that tough question. When reality sets in the task of maintaining and running a commercial property can quickly become overwhelming, even to the savviest investor. That is when they employ the services of an experienced commercial property management company.

What can an experienced commercial property management company do for you?

1. Collect and deposit monthly rent payments for your shopping center.
While collecting monthly rent from your tenants can sometimes be difficult, a good property management company already has its own systems in place to ensure that rent payments are collected on time so as not to affect your cash flow.

2. Monitor your shopping center rental rates.
Your commercial property manager monitors the rental rates of your investments to ensure that they remain competitive. This can be a key factor in securing – and keeping – good tenants for you.

3. Rules, Regulations and Laws.
Commercial property managers stay abreast of all the local, state and federal regulations to ensure that your shopping center investments are in compliance and up to code.

4. Marketing and Advertising.
An experienced property manager is proficient with all the current online and offline marketing and advertising opportunities to promote your shopping center. These strategies will keep vacancies at a minimum.

5. Inspections.
The commercial property manager you choose should be vigilant in the maintenance of your shopping center through regular inspections. It is important that they find and fix any problems before they escalate into a larger issue before, during and after your tenant takes occupancy.

6. Securing Tenants for Your Shopping Center.
This can be a very time-consuming process. A good property manager will handle aspects of securing the right tenants for your shopping center by conducting all the necessary background/credit checks, credit reports, etc.

7. Professional Contacts.
Experienced property management firms have spent time over the years forging important relationships with suppliers, contractors, maintenance workers, etc. who can save you time and money when making changes or repairs to your shopping center.

8. Time Management.
Hiring a good commercial property manager to handle all the details concerning your center frees up your time to focus on other endeavors.

9. Remote Commercial Properties.
Because it’s not possible for you to efficiently monitor your commercial properties that are located out of your geographic area, an experienced property management firm can be a very valuable asset.

10. Financial Management.
Most commercial property management professionals also assist with your financial management strategies and charge investors a percentage of the monthly rental rate of the property, usually 3.5% to 6%. Savvy investors realize the benefits of a good property manager and gladly pay this fee.

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