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Managing commercial properties takes a lot of time and experience. While you may be thinking that you want to manage your own real estate property to save money, you can easily get bogged down in the day-to-day details. That leaves you with little time to continue investing in other properties to build your portfolio. Choosing whether to use a commercial property management company is a big decision for investors. Here are some things to consider about commercial property management companies in Jackson, MS.
Most property management companies will charge anywhere from 3% to as much as 15% over the property’s rental income. Some companies use a flat rate, while others take a hybrid approach. A company may charge a flat fee and add a small percentage rate of the monthly rental income. There are several factors that come into play when determining commercial property management fees.
Real estate is all about location, and property management fees are no different. Fees may depend on the local market and where the property is located. A downtown building or a property located in a luxury market may bring in higher fees. The location of the property management company may also be a factor. Companies that are more local to the property can often charge less because they won’t have to travel to the site. Other factors include:
Working with a commercial property management company in Jackson, MS can give you the option to have more time to do what you enjoy, whether that’s enjoying a passive income while you get out on the links or finding more properties that fit into your real estate goals. The Estes Group is a turnkey real estate investment company that can support you in your real estate investments. Learn more about our services and how we can help you grow your portfolio.
We have an excellent track record among commercial property management companies across Jackson, MS. Call us at 601-362-9633 or contact us online for help from our real estate brokers when you want to buy and manage commercial property in Mississippi, Alabama, Tennessee, and Louisiana.