Benefits of Hiring a Property Management Company for Your Commercial Property
harkins / October 18, 2017
It’s tempting to handle everything on your own with your commercial property. Though you’re capable, the task may involve more details than you think. If you’re already managing your property or trying to decide which option is best, check out the benefits a property management company will bring.
Getting the Property Leased
One of the biggest steps to make money is getting your property filled. Management companies know how to get the job done. They can attract prospective renters by running advertising and property listings. They’ll also save you time by handling inquiries and property showings. The management company will also take applications, conduct credit checks and do background checks.
Meeting Financial Obligations
After the contract, you still have to request your rent payments. For some, you may even need to demand it through collections. Property management companies take on the task of collecting rental payments. They’ll also take on other financial obligations like recording and paying taxes and maintaining property insurance.
Handling Maintenance Issues
Even with commercial property, occasional maintenance issues will happen. The age of the property may require certain fixes. You’ll also need to make sure things are back up to standard in between lessees. When you work with a property management company, they’ll make sure requirements like painting, installing, renovating, and maintenance requests are handled.
Property Management Companies are Outsourced
Adding a property management company as your sidekick is as simple as signing a contract. You don’t have to go through the hassle of an application process, turnover, or employee benefits. The property management company is its own entity under contract to provide you services. That means you’re outsourcing and delegating tasks you no longer want to manage or don’t have time for. You get the benefits of the work in exchange for a fee without the added grief of extra paperwork, taxes, and responsibilities.
For a minimal monthly fee, you’ll be able to take a load of work off your hands. You can sleep better knowing you don’t have a pile of obligations and unsatisfied tenants to handle the next day. These are just a few of the many benefits of having a property management company on your team. Learn more about property management from the experts at Harkins Commercial Real Estate.
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