While owners can manage their own commercial properties, it can prove to be a stressful, time-consuming responsibility. As an owner, you’re in charge of property maintenance, repairs, rent collection, leasing, cleaning, financial and risk management, and more. That’s why property management companies can help increase revenue and improve tenant satisfaction. We’re highlighting what property managers do and how their services can benefit you.
What Does a Property Management Professional Do?
Property management is exactly what it sounds like. Instead of being responsible for the daily tasks of running a property, you can save yourself time and stress by enlisting a property manager’s services. Property managers are experts in managing everyday work to ensure your commercial property is efficiently maintained. Additionally, they will handle finances including rent collection, budget management, and monitoring maintenance and repair costs. What property managers accomplish is very valuable and worth a landlord’s consideration, especially if you fall in one of the categories listed below.
You Don’t Live Near Your Commercial Property
If you live far away from the property, it can be time-consuming to drive there and manage it regularly. Additionally, when something unexpected happens it creates a stressful situation since you may not be nearby to handle the emergency or have trusted resources.
It is in your best interest to speak with a property management company that has easy access to the property’s location. This will ensure that somebody is available to ensure things are running smoothly and can efficiently respond to property needs. Also, it’s important to partner with a property management company that is close to the property’s location because they’ll have a better understanding of local market trends.
You Have a Diverse Portfolio
Commercial real estate spans several main groups: industrial, retail, multi-family, and office space. Each has its own requirements needed for smooth operations, and as the landlord, it’s your duty to provide them. Hiring a property manager who has experience managing these sectors significantly increases your ability to meet your property’s needs.
Property managers with experience in a diverse range of industries will be able to maintain properties to tenant standards. As a result, property owners will have a better understanding of how to manage tenant needs like screenings, rental collection, and maintenance inspections. These efforts help lower vacancy rates and increase the number of qualified tenants.
Your Property Management Portfolio is Growing
As an owner, now you understand how time-consuming running one property can be. According to Flex, the average landlord owns three properties, which means they have a lot to keep track of. Hiring a property manager provides some relief to busy landlords by assisting in maintaining the daily operations of properties at optimal levels. Commercial property owners enjoy the peace of mind of knowing their investments are being properly maintained.
Plaza Companies Has Decades of Property Management Experience
As one of the top Phoenix property management companies, Plaza Companies has partnered with a diverse range of clients. Ranging from small projects to comprehensive management services, our team of experts ensures our clients’ commercial properties exceed the highest of standards. We provide customized programs designed to target cost-efficient operations and retain tenant satisfaction. Contact us today to learn more about our property management services.