Managing commercial or retail property is not just a matter of collecting rent and fixing a broken toilet. Today there are so many other pressures and issues that come into the process. That is why property managers should be well skilled and experienced in the tasks of property management.
Have you ever thought about getting another property manager to control your property investments? It can be a wise decision to take the pressure off your initial activities and then allow you to focus on the bigger picture of investment performance.
Where do you start? Here are some of the big issues that commercial and retail property managers must handle every day for their landlords and investors:
- Rent arrears control and recovery
- Income optimisation for the property
- Rent review and option implementation
- Lease interpretation and implementation
- Property and tenancy inspections to ensure that the property is being correctly occupied
- Maintenance budgeting and controlling maintenance within the approved expenditure records
- Keeping the landlord abreast of current events and issues
- Talking to tenants so they occupy with little or no difficulty
- Vacancy management and lease strategy
- Fitout works and controls
When any landlord or property owner is considering appointing a new property manager, the decision should be based on the skills of both the individual person and also the agency. So many property managers really do not have what it takes to do the job to the required levels of investment today and the market. A poorly selected property manager will be a disaster for the property owner.