5 Reasons Why You Should Hire a Commercial Property Manager
Category Advice
Investing in commercial property is a lucrative and rewarding venture, but the management can be extremely stressful, draining, and difficult to maintain.
Hiring a property manager for your commercial investment will not only take a massive weight off of your shoulders, but will also give your property a competitive edge. Here's why:
Why Having a Property Manager Will Give Your Commercial Property Competitive Edge
Get better marketing
Without a property manager, you will have significantly less marketing opportunities and results. These skilled professionals know how to write effective rental advertisements, take good, quality property images, host successful viewings, as well as list your property for the best possible price. Good marketing will determine the freedom of choice you'll have amongst tenant candidates. Without options, you may be limited to choose a tenant who you aren't fully confident in.
Screen out problematic tenants
High-quality tenants change the game entirely. They set the foundation for a healthy landlord-tenant relationship. Experienced property managers can spot red flags from a mile away that you could likely miss, and know exactly what qualities to look out for in reliable tenants.
Have a point of contact for tenants
Your property manager will act as a mediator after a tenant agreement has been signed. They are responsible for ensuring rent is consistently paid, and act as the point of contact. This means that any maintenance issues will be handled through the manager, and if rent is not being paid in a timely manner, your manager will know the proper way to resolve the situation.
Decrease tenant turnover
A high tenant turnover rate can negatively affect your income in many ways. Not only is your rental income affected, but it increases time spent on maintenance. Think about having to deep clean or possibly fixing any repairs when a new tenant comes into your building. A skilled property manager knows exactly how to keep tenants satisfied with their lease and hold more successful tenant retention rates. Long-term tenants in a commercial property is always the goal.
Avoid potential legal issues
Legal issues can be extremely costly and time-consuming. An experienced property management company is armed with a wealth of knowledge and skill to protect you against - and help avoid - potential lawsuits and troublesome tenants. They canl also take over issues like tenant evictions, signing and terminating leases, and handling security deposits.
As an investor, hiring a property manager will maximise your time and money, enabling you to take on many more opportunities. If you're ready to let go of the reins and let us take over your commercial property management, we can get you the results you've been waiting for!
Author: SApropety.com
