If you own commercial real estate, you may find a plethora of property management companies fighting for your attention. Choosing a good management firm is paramount to your property’s success, so it’s crucial to comb through your options. But, what exactly makes a great management company stand out from the rest?
Find the Management Company that Fits Your Needs
Every property is different in terms of what is needed from a property management company. For example, medical offices will have a different scope of work when compared to managing a retail space. Or, a mixed-use development may need to enlist the help of a property management company who specializes in offering a range of services.
Plaza Companies specializes in a range of services to ensure we meet the demand of our clients. As an example in our property portfolio, we manage TGen, the Translational Genomics Research Institute’s property. This state-of-the-art medical facility calls for a different approach to property management when compared to other office spaces such as the Camelback Collective project which we manage.
The TGen facility requires our team to not only oversee office space but also some extraordinarily complicated and complex laboratory and research environments. These laboratories require flawless property management execution to ensure that no climate, power or sanitation issues arise that could compromise this extraordinarily important research. These are unique challenges compared to what we see at Camelback Collective, a modern Class A office building with multiple tenants.
Property Management Fees
Everything comes at a price and you should expect the same when partnering with a property management firm. The company you hire will be overseeing one of your biggest investments, so it’s vital that you choose a firm that you feel would give you the best services for the price — and this doesn’t necessarily mean partnering with the company with the lowest fee. To get a better sense of how much their services will cost ask them questions about their vacancy fees, set-up fees, leasing fees, reserve fund fees, maintenance fees, and how much their overall management fees cost compared to rent.
Stay on Top of Maintenance and Repairs
Whether you’re a medical office, retail, or industrial space, preserving the value of your asset is an essential part of property management. Tenant requests must be addressed promptly and the management company must provide a transparent system to show that money is being well spent.
Property management firms like Plaza Companies accomplish this by surrounding themselves with experienced staff and a network of qualified, licensed vendors. When interviewing possible firms to partner with, we recommend asking them about their maintenance operations and if they have a network of professionals to help.
At Plaza Companies, we have a significant network of skilled professionals we hire to make sure each of our properties are well-maintained. With a large portfolio of properties to meet a range of industry’s needs, it’s important that we have skilled technicians read and able to find a solution for any possible problem.
Plaza Companies is Your Property Management Firm
Founded in 1982, Plaza Companies has been one of Arizona’s premier real estate firms specializing in leasing, management, construction, and development. We are committed to our clients’ needs and work to ensure their property runs efficiently on a day-to-day basis. Contact us today to learn more about what we can do for you.