When it comes to Commercial Property Management Services, selecting the right company can make the difference of having a good experience compared to a bad one. Below is a quick summary of what you can expect when hiring a commercial property management company and some questions to ask when interviewing them. From accounting and administration to maintenance, effective commercial property management requires vision, accountability, and a dedication to creating value.
Don’t be afraid to ask a lot of questions, getting this information will help give you an idea of how you will be taken care of. Request to see copies of their monthly management reports, ask to see a list of their complete services, discuss the type of software they use and how large their staff is. Here are a few questions you can a potential or current commercial property management company:
- What does their portfolio consists of?
- How many projects do they manage?
- How many square feet of office, industrial, and retail space total do they currently have?
- Are their portfolio managers licensed real estate professionals and do they have relevant industry experience?
Commercial Property Management Should Create Less Stress
Good commercial property management helps save property owners from having to Worry about:
- Rent collections
- Track and assess late fees and holdover rents
- Deal with broken air conditioner units in the middle of summer
- Fix a leaking roof during monsoon season
- Prepare accounting statements such as balance sheets and P & L statements
Request a Scope of Services
A good property management team plays a critical role in the success of your property. Having a commercial property management team that is responsive, knowledgeable, and friendly will take responsibility to
- Create additional value at your property
- Hire the most experienced, trustworthy, and reasonably priced vendors to perform services at your property
- Manage and maintain your property
- Provide you with detailed, monthly financial statements and answer any questions you may have about the financial operations of your property
- Process distributions to you, as instructed
- Minimize your operating costs
- Build tenant relations through friendly, responsive service
Phill Tomlinson is a Sales and Leasing broker with Commercial Properties, Inc. (CPI) in Scottsdale Arizona and focuses on Landlord representation in the Loop 101 North Corridor. Commercial Properties began business in 1981 specifically to manage industrial properties. In the early 1990’s, they began managing office and retail spaces as well. Although the commercial property landscape has changed, their commitment to service has not. CPI ‘s impeccable reputation for property management precedes them and they proudly derive most of their business from referrals and repeat customers, including R.E.I.T’s, partnerships, private trusts and individual investors.
CPI has successfully managed hundreds of properties for their landlords. To learn about how Commercial Properties, Inc. can transition your property or to see how they have helped other landlords, click on this link to get answers on Commercial Property Management – What can you expect?
Investing In Commercial Real Estate?
Looking to invest in Arizona Commercial Real Estate? At ICRE Investment Team, we work with commercial investors, property owners, companies, banks, and commercial loan servicers seeking the highest quality of services in the greater Phoenix, Scottsdale, Mesa and Tempe Arizona regions. Contact us for more information.