Good news! Signs of a revival for the commercial real estate market have emerged. Not only have prices increased 1.4%, but there has been a 37% increase in investments for the third quarter from the prior three-month period.
Congratulations! You’ve purchased a commercial property and are now officially considered a landlord. Managing a commercial property can be a lot of work. It’s a good idea to look for an experienced, professional property management company to help oversee your commercial property.
Here are 4 reasons why you want to choose a property management company to run your commercial property:
Protects Your Investment. Real estate investors all agree, working with a good management company is the best way to protect your investment, and in the end, can add value to your investment. An experienced management company that’s been in business for years will have seen it all and will know how to handle any problems that arise. Most likely, they can take better care of your property than you can from both the physical aspect as well as financial. Reputable management companies are skilled at forecasting, budgeting, cost negotiations, and the best management companies will have an educated, experienced Accounting staff to support.
Managing Tenants. An experienced property management team will handle all aspects of the landlord and tenant relationship. They will screen tenants to ensure they can meet their financial obligations, handle routine and emergency tenant services, as well as collect rent payments. They are also experienced in tenant lease negotiations and tenant retention. Quality customer service and communication can help decrease tenant turnover.
Marketing and Advertising your Property. Vacant space at a property is a drain on your investment. Experienced property managers are adept at supporting the sales and marketing efforts to keep vacancies at a minimum.
Less Stress and More Time. A company with years of experience will save you a ton of time and spare you all the headaches that come with trying to manage the property yourself. Experienced property management teams use industry-specific software and are highly skilled and organized. They will be able to streamline everything from emergency response, paperwork, inspections, bookkeeping, and many other tedious and time-consuming property management tasks.
About Cohen Commercial Realty, Inc.
Cohen Commercial Realty, Inc., is a full-service commercial real estate brokerage firm dedicated to fulfilling client needs quickly and efficiently throughout the South Florida market and beyond. Our property management team combines knowledge of the market and client needs with expert marketing, research and specialization. This is the reason so many owners and investors choose Cohen Commercial to handle their commercial real estate transactions. Contact Cohen Commercial today!