Are you a busy commercial real estate property owner who’s ready to make your life a little easier? Owning commercial property is a big responsibility.

Trying to manage your property on your own can be time-consuming and stressful, especially when you have other priorities to consider. Partnering with a commercial real estate property management company can help protect your investment.

You can’t do it all. A property manager can help you handle day-to-day operations, especially if you own more than one property.

Here’s what you should consider when choosing the best commercial real estate property manager.

1. Past Experience 

You want a property management company with experience in the industry. Running commercial properties is complex, so it’s important to screen potential candidates carefully.

It’s always a good idea to ask for referrals. Ask other property owners if they have a recommendation. Make sure you look for a company with experience running properties like yours.

Referrals can give you information about the company’s level of professionalism, management style, availability, and more. You want to know you’re hiring a company with the right experience and a solid track record of managing properties in your area.

2. Your Budget

You want to find commercial real estate management that meets your needs and your budget. Property management should be a cost-effective option that makes your life easier and more manageable.

You don’t want to pay more than you can afford and risk a negative ROI. Depending on your portfolio, you have to determine how much property management will cost you each month.

Take the time to find the right management team for your needs. They should meet your budget and provide the management services you need most.

3. Interview Candidates

Don’t hire a property management company without asking questions. Find out how they will deal with lease violations, unpaid rent, bad tenants, or anything you’re concerned about.

Make sure you understand and are in agreement with their management practices for evictions and screening potential tenants. You want a clear picture of how they will handle the day-to-day operations of your property.

They should have a clear vision for managing your property and be willing to answer any questions you may have. If you have doubts or they can’t provide the information you’re asking for, steer clear and find another property management company.

4. Check Out Reviews

Be sure to check out their website to see reviews or testimonials from previous clients. Look for other online reviews that aren’t affiliated with their website as well.

This can give you a more in-depth look at what clients think about their management style. You want to know if the staff is professional and ready to oversee all property management tasks for your commercial property.

If you notice a couple of poor reviews, that’s not necessarily a red flag. If you notice a pattern of negative reviews, there’s an issue with the company, and probably not the best choice for your property management needs.

5. Communication Style 

Communicating with your property management company is crucial. You need to be informed about everyday operations and any pressing issues with your commercial property.

You want a management team that values communication and plans to keep you in the loop regarding any pressing issues with your property. They should be easy to contact, easy to talk to, and available when you need them.

A property manager should be prompt with returning phone calls, texts, or emails. If you find it hard to communicate with them or difficult to get a response, that’s a red flag and a reason to choose another commercial real estate property management company.

6. Availability

Availability and responsiveness are essential for effective property management. With commercial properties, the problems and concerns aren’t limited to nine to five. 

When there’s an issue, you want to know if the company you hired is up to the task and available when you need them. Some real estate property management companies offer 24-hour customer service or an online portal service.

Consider your needs and whether the property management company you hire will be there when you need them most. They should offer after-hours support and work with you to solve problems and keep your property running as it should.

7. Maintenance Expertise

As a commercial property owner, you know maintenance issues happen when you least expect them. A reputable property management company understands this and has procedures in place to handle unexpected issues as they occur.

Before you hire a management team, make sure you know how they plan to handle routine and emergency maintenance issues. Understand how they hire workers, solicit quotes, negotiate deals, and pay bills.

The best property management companies have the expertise to handle maintenance issues and keep these issues under control. This takes the worry and stress off of you and is another great reason to hire a professional property management company.

Get the Best Commercial Real Estate Property Management 

Hiring commercial real estate property management is a big decision. You want a professional property manager, you can count on to handle all the day-to-day needs of your commercial property.

You also want a team that’s available for emergencies and can handle the bigger issues that come up from time to time. Asking the right questions and doing some research can help you find the right property management team for your needs.

At Next Level Property Management, we have over 40 years of experience in real estate management. It’s our goal to provide the exemplary service you need from a property management company.

Contact us today to learn more.

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