If you’re a business owner or regional manager in charge of multi-site properties, chances are you’re all too familiar with the juggling act required to keep everything running smoothly. Handling the day-to-day management tasks of multiple properties in different locations can be overwhelming and time-consuming. This is where a commercial property management company comes in.
In this post, we’ll explore the common services offered by commercial property management companies and how to find one that’s right for your business.
The Role of a Commercial Property Management Company
A commercial property management company helps you run and oversee various aspects of your commercial real estate. Typically, these companies oversee trusted third-party contractors and vendors to perform a set of specialized services, from tenant management to repairs and maintenance.
Most commercial property management companies have their own specialties — for example, some companies may offer only financial services, while others focus on maintenance and upkeep for your properties. Because different companies have unique focuses, it’s important to do your research beforehand to make sure you find the right fit.
Here are a few of the various services a commercial property management company may offer:
Tenant Management
Some commercial property managers take on the task of finding and managing tenants. They advertise and market vacant properties, vet potential tenants, handle lease agreements, resolve tenant concerns, and maintain ongoing relationships.
Rent Collection
If applicable, some commercial property managers may oversee the rent collection process, ensuring all payments are made on time. They also promptly address any issues or concerns related to rent payments.
Vendor Management
Commercial property management companies generally have a network of knowledgeable vendors — or contractors — that provide services like interior and exterior maintenance. A primary role for the company is to manage these existing vendors, find and vet new qualified contractors, and provide highly skilled experts to help commercial property owners.
Preventative Maintenance
A commercial property management company should ensure your properties are well-maintained throughout the year. Taking initiative on common tasks like HVAC maintenance, landscaping, and snow removal not only prevents repairs and disruptions, but it also makes your business look more professional inside and out.
Emergency Repairs
When an emergency repair is needed, you can count on a commercial property manager to address it immediately. Whether it’s a power outage, flooding, or any type of weather-related damage, you’ll get a specialized team onsite to fix the issue so you can return to business as usual as soon as possible.
Commercial property management firms like Strategic Grounds offer comprehensive maintenance services. This includes snow and ice removal, lawn care, exterior maintenance, parking lot maintenance, and more.
The goal is twofold: enhance the value and appeal of your properties as they remain in excellent condition year-round.
Why Do You Need a Commercial Property Management Company?
In the simplest terms, a commercial property management company provides a helping hand to share the workload of managing your properties. In some cases, a company may take over the entire day-to-day operations for your buildings, while others only help out with specific tasks you want to delegate.
With a property management company, you get specialized expertise to optimize your property and stay up to date on maintenance, repairs, and more. For you, that means less stress and more time and energy to focus on other tasks.
How to Choose the Right Commercial Property Management Company
Check out these tips to help you choose the right commercial property management company:
- Assess your needs: Start by defining your property’s specific requirements. Are you seeking full-service management or specific services like interior and exterior maintenance? Pick a provider whose services align with your needs.
- Practice due diligence: Reputation is everything in this industry. So, research potential management companies to establish their credibility. Look for online reviews, ask for referrals from trusted sources, and check their track record to find a reputable provider.
- Evaluate experience and expertise: Experience matters in property management. Ensure the company you choose has a proven history of managing similar properties.
- Consider cost and value: Evaluate the services offered in relation to your budget and the overall value they bring to your property. A higher upfront cost might be justified by better service and cost savings in the long run. However, while cost is a factor, it shouldn’t be the sole determining factor.
These steps will help you select a commercial property management company that meets your needs, ensuring your business thrives.
Tired of Running Properties On Your Own? Get a Helping Hand from Strategic Grounds Management
Investing in your properties is a wise decision that can pay off significantly in the long run. By allowing experts to handle the day-to-day tasks, you can focus on growing your business while enjoying the peace of mind that comes with professional property management.
If you’re looking to work with a management company specializing in maintenance and upkeep, Strategic Grounds is here to help. Our team is trained in everything from snow and ice removal to HVAC installation and repair. Contact us today for a free quote and consultation!
