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The Benefits of Professional Property Managers for your Rental Business

Posted by Greg Chew on Dec 6, 2016 4:53:04 PM

the benefits of professional property managers

If you’ve recently invested in a commercial real estate asset, you’ve taken on many new responsibilities as a landlord. You’ve also established a number of business objectives to help you drive the ROI of your new asset. These may include tenant retention, general maintenance and an increase in property valuation.

Have you explored the benefits of hiring professional property managers to manage your new commercial entity? Through effective management of your asset, you are better able to maintain a profitable property while enjoying time needed to expand your investment portfolio.

 

Tenant Attraction and Screening

Vacancy rates are a concern for all landlords; finding and retaining quality tenants makes a difference to your bottom line. Property managers offer the benefit of industry relationships and experienced management. Both of these factors are attractive to long-term tenants. Additionally, a property management team understands proper tenant screening this minimizes potential risks by uncovering any red flags a tenant may display.

 

 

Tenant Management

Many property owners consider their professional property managers a form of insurance; this is due to the fact that property managers deal with all tenant and building issues from specific tenant requests up to the legalities of tenant eviction. Management teams take the burden of day to day tenant correspondence, emergency situations and building maintenance issues off of your hands.  Through their expert management, they are able to reduce your costs and implement processes that enhance the quality of the leasing experience your tenants receive.  

 

 

Facility Management

A professional property manager’s responsibilities extend beyond tenant relations to address the management of your facility and maintenance of your premises to ensure that your property increases in value. Through professional facilities management, issues pertaining to unit inspections, emergency services, insurance coverage, trade supervisions and grounds or common space maintenance are fully taken care of.  

 


Tasks a Professional Property Manager may Perform on your Behalf

  • Facility management
  • Preventative maintenance
  • Tenant attraction, lease negotiations and retainment
  • Property accounting  and financial reporting
  • Property marketing

 

To learn more about maximizing the value of your investment property through effective management by a professional property manager, connect with Niagara Commercial Real Estate expert Greg Chew below.

Connect with Greg Chew

Topics: Leasing, Landlord

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