MANAGEMENT
Commercial Property
Management
A Professional Approach
BY DREW HOOK
M
anaging a commercial property involves
far more than simply keeping a building
occupied and maintained. For long-term
sustainability a professional approach to property
management is required, as a catalyst for the growth
of the property investment. For this reason, smart
property owners outsource the management of
their commercial portfolios to professional property
managers with experience and expertise in managing
a wide range of critical success factors.
well maintained property is more easily let than a
neglected one and can command higher rental.
In addition to ongoing and preventative maintenance,
the building must also be improved on a regular basis
to increase its appeal to current and future tenants.
A professional property manger will be up to date
on local property trends, rentals charged by similar
buildings in the area and the required improvements
to keep the property in line with or ahead of its
competition.
Tenants
Tenants are the source of income. Building mutually
beneficial relationships with the right tenants
requires more than placing and billing. It requires a
professional approach, which yields excellent results
as happy tenants stay in a building for longer, pay
their rent on time, better maintain the building and
its facilities and attract tenants with a similar profile.
The right tenant mix for a specific building area
and industry type ensures the sustainability of the
premises.
A property manager is a critical interface between
the property owner and the tenants, professionally
taking care of the tenant mix, tenant screening and
installation, tenant risk rating to determine the
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