Passive income gives you a return on your investment with little work on your behalf. That is, unless you own commercial real estate. As a landowner, you have many responsibilities, including maintenance, answering emergencies, and collecting rents. When you aren’t there, things may not get done. If you own several properties, you may find yourself pulled in many directions with little to no support or help. Commercial property management companies in Jackson, MS, ensure you have more free time, and your passive income is truly passive, i.e., you don’t have to actively work to get the earnings. A reliable and accredited company may also help with strategies to enhance the value of your assets.

Typical Responsibilities of a Commercial Property Management Company

You hire a property management company to handle the day-to-day responsibilities of running your real estate investments. Property management companies can be anywhere from one or two people or an entire team, depending on the size of the property. Here is a breakdown of what they may handle for you based on two distinct segments:

1. Operations: Consider this the day-to-day business of keeping your real estate running smoothly. Each property type is different, but they may handle:
   • Preventative Maintenance: They will execute routine inspections and replacement of lighting and air filters. It also involves keeping the landscape neat and removing trash.
   • Handling Property Upgrades: This includes handling HVAC, plumbing, and electrical system upgrades to ensure a long and useful life.
   • Landscaping: They will handle maintenance and replacement of landscaping to enhance curb appeal for current and prospective tenants.
   • Handle Tenant Issues: A property manager will handle repair requests and other tenant questions and issues.
   • Responding to Emergencies: They will inevitably occur, and your property manager will handle those. Emergencies include burst pipes, damage from storms, and other items.
   • Keeping Up with Tenant Occupancy: They know what leases are expiring and which ones need renewing. They also have an idea of market rent rates are and help with finding new tenants.
   • Staffing Property: If your location needs full-time staff, the property manager will ensure that people are onsite. They will find and train the right people for the job.
   • Evictions: You hope it won’t happen, but the property manager is responsible for handling the default and potential removal when a tenant fails to pay rent.
2. Finance: Another area your commercial property management company in Jackson, MS, may handle are the property’s finances, including:
   • Collecting Rent: You make money when rent is paid. The property manager ensures that it is done, is credited to the tenant’s account, and then deposits it in the bank.
   • Collect Late Payments or Other Fees: The property manager will issue a request and collect ancillary fees if a tenant is late.
   • Reports: They will provide regular financial information, including expenses, capital expenditures, delinquencies, bank reconciliations, and cash reserve balances.
   • Budgets: They are also responsible for setting the property’s operational budget.

Count on The Estes Group for Commercial Real Estate Management in Jackson, MS

Enjoy your investments without all the headaches that come with managing them. The Estes Group provides all the services you need to handle your commercial real estate property. Look to us to operate, maintain, and optimize your real estate in Mississippi, Tennessee, Alabama, and Louisiana. Contact us today!

Looking for trusted commercial property management companies in Jackson, MS? Call us at 601-362-9633 or contact us online for more information on our services.

When it comes to investing in commercial real estate, you have quite a few options to choose from. Each type offers different returns on your investment and accommodates your level of risk. If you enjoy the residential sector, why not check out multifamily units like duplexes or triplexes? Do you like the industrial scene? Then warehouses may fit your portfolio well.

Avoid jumping into investing on this level without the assistance of a commercial real estate broker in Jackson, MS. At The Estes Group, our team has immense experience and our brokers have their thumbs on the market. Our client-centered approach means we work with you to find your portfolio’s best investments based on your needs and desires. Not only do we serve the Jackson, MS area, but we also cover Alabama, Louisiana, and Tennessee.

8 Categories of Commercial Real Estate to Build Your Portfolio  

Using commercial real estate to effectively build out your portfolio begins by knowing the different types. From there, you can discuss with your commercial real estate broker in Jackson, MS, the best options to attain your specific wealth-building goals. Here are eight categories you can explore:

1. Multifamily – These properties are dwellings for residential tenants that serve as investments for the owners. They include duplexes, triplexes, and quadruplexes. Other options include suburban garden apartments, which are low-rise buildings with 50-400 units and surface parking. Mid-rise and high-rise apartments round out this category as well.
2. Office – You can generally find office buildings in one of three categories: Class A, Class B, or Class C. Each category indicates the type of location and the health of the surrounding market. For example, Class A indicates the best site and construction, whereas Class C properties tend to be less desirable. Other options of office types include central business districts and suburban office buildings.
3. Industrial – These properties range from heavy manufacturing to light assembly, to flex warehouses and bulk warehouses. Each type has its purpose that can easily round out your portfolio.
4. Retail – A few subcategories include strip malls or centers where Mom and Pop style stores exist, generally without an anchor tenant. Another option is a community retail center, which is very large and has multiple anchor stores. You might decide on a power center with several small stores and only a few box retailers, a mall, or a land parcel.
5. Hotels – Here again, you can choose from a few options. Full-service hotels will typically be your big-name hotels. Limited service indicates a business that is smaller with fewer amenities. Finally, extended stay entities with larger rooms and small kitchens designed for people to stay a week or more round out the list.
6. Mixed Use – You may be familiar with these as distinct real estate buildings with retail shops or restaurants on the main floor and offices and residences on the upper floors. These are more commonly found in urban areas.
7. Land – If you are looking for undeveloped lands like farms or pastures, you want greenfield or agricultural land. Vacant lots found in cities are called infill land. Finally, brownfield land includes parcels that were previously used for industrial or commercial purposes. A lot of times, these pieces are suspected to be environmentally impaired because of their previous uses. Your commercial real estate broker in Jackson, MS can provide the right insights and guidance.
8. Special Purpose – This category is your miscellaneous group. Most commonly, you will find amusement parks, bowling alleys, parking lots, stadiums, theaters, and zoos in the group.

Choose Jackson’s Favorite Commercial Real Estate Broker – The Estes Group

Increase your net worth when you choose to work with The Estes Group. We are a boutique investment firm with market knowledge and leadership to help you make a sound real estate decision. We are one of the few Accredited Management Organizations (AMO) in Mississippi. This hard-earned certification means you get the best in investments and property management. Talk with us and learn how we can help you reach the financial success you seek.

Call us at 601-362-9633 or contact us online to discuss your real estate goals with our knowledgeable and experienced commercial real estate brokers. We’ll help you purchase a commercial investment property that delivers the best return on investment.