Is your investment property everything you hoped it would be?
There are countless challenges that you'll have to navigate when you become a commercial landlord. From maintaining your property to managing tenant relationships, it can be a whirlwind. If you don't make yourself fully available, it can all blow up in your face.
In today's post, we'll tell you how to implement commercial property management for your properties. Keep reading and enjoy the perks of being a landlord without any of the burdens.
Improve Maintenance Practices
One of the real perks of bringing in a property management company is improved maintenance of your building. When you neglect maintenance, your investment stops paying dividends. You'll upset your tenants and create vacancies, which is every commercial property owner's biggest fear.
Property managers have relationships with local vendors who can handle all aspects of building maintenance. This includes cleaning, garbage removal, and any repairs that may come up. Your investment property will be kept in great shape, keeping tenants happy and money coming in.
Develop Strategic Pricing
Figuring out how much to rent your Suwanee commercial property for can be tricky. You need to perform thorough market research to ensure you're setting fair rent prices without leaving money on the table.
A property manager has the local market knowledge to price your unit. By looking at other similar properties in the local area, they can figure out competitive rental rates to ensure your property is always occupied.
Find Quality Tenants
Property marketing is a good way to implement commercial management services. Letting a professional list and market your rental unit gives you the best chance at finding the right types of tenants.
They'll do so with professional photography and descriptive writing. Once your listing is live, they'll promote it across various mediums to appeal to a wide variety of tenants.
When you get enough applicants, your property manager will then screen them to secure the best option. For commercial renters, this involves doing credit checks, looking at business plans, and verifying the legal compliance of their business.
Build Tenant Relationships
When you find good commercial tenants, it's important to keep them happy. This involves staying on top of maintenance and responding to tenant requests as they come in. Happy tenants are more likely to stick around for years, lowering the vacancy rate for your property.
A property manager is always available to help your tenants, so you don't have to be. Communication is the hallmark of positive landlord-tenant relationships. If you don't have time to maintain these relationships, you need to hire property management.
Get the Best Commercial Property Management in Suwanee
If you own commercial property in Suwanee, hiring a property manager is a great idea. There are plenty of commercial property management firms out there, but PMI Atlanta City offers the most comprehensive services.
We're part of one of the largest property management companies in the country. When you use our services, you'll get everything we discussed here and more. Contact us today to learn more about what we do.
