How Commercial Property Management Companies Make Things Easier for You
July 8th, 2022
Investing in commercial real estate is an excellent avenue for creating long-term wealth. One aspect of this type of investing is the day-to-day management of assets. Some choose to do most of their own management; however, that may not be the best use of your time. If you want to reach your financial goals, remembering to focus on your strengths and outsource the other stuff helps. Commercial property management companies fill in where you need assistance to keep your eye on your goals.
6 Ways Your Commercial Property Management Company Eases Your Burden
Working with a quality commercial property management company opens your schedule to focus on wealth-building. Here are six ways you benefit from hiring professionals for these management tasks:
- Assess the market: The real estate market is constantly changing. Your management company keeps tabs on the market value and sets rent rates accordingly. This information also helps with the long-term planning of renovations and improvements to keep the property’s value high.
- Prepare your property: Units often need attention before a new tenant arrives. The best management companies fix leaking faucets, switch out door locks, make cosmetic fixes, and clean. This attention to detail provides new tenants with a property they will be glad they leased.
- Advertising and marketing: Finding new tenants requires letting the area know you are leasing. A team that understands the importance of advertising and marketing ensures you have a lower vacancy rate than other investors.
- Screen tenants: This may be the more difficult of all the things a landlord will do. Finding tenants who will keep your property in good shape and pay their rent on time is challenging. Management companies have systems to screen potential tenants for those who will take care of things instead of being careless.
- Prepare leases (and get them signed): A thorough and well-structured lease covers both you and a new tenant. State laws can be pretty involved, but your experienced management company understands this and will have the necessary contracts ready for signing. They can also handle having the tenants sign the prepared lease contracts on your behalf.
- Renew leases and handle move-outs: Some tenants will move out, and someone will need to verify no damage was done, handle returning deposit, and oversee the cleaning and maintenance once the unit is vacant. Some steps need completing if a tenant decides to renew their lease. Management companies can take care of all aspects for you.
Increase Your Success – Choose a Preferred Property Management Company
All investors want to see success. Savvy ones understand the importance of choosing a property management company that will come alongside and provide excellent support. The Estes Group has been doing this for years. We have the experience and resources to ensure your real estate is adequately cared for and an ideal place for tenants. Not only can we manage your properties, but we can assist with brokerage, court-appointed receiverships, and much more. Contact us today!
Call us at 601-362-9633 or contact us online to discuss your real estate goals and see how we can assist you on your path to financial success. We’re among the leading commercial property management companies in Mississippi, Louisiana, Alabama, and Tennessee.