Though Pharrell William’s chart-topping hit insists that happiness can feel “like a room without a roof,” that description certainly doesn’t appeal to commercial real estate investors or tenants. To them, happiness is a result of quality properties, desirable amenities and great communication. In short, happiness in real estate is often a result of great property management.
So, how can owners find the right management partner to make the most of assets, maintain tenant relationships and keep everyone happy? Here’s what to look for:
As a result of the economic recovery, many markets offer a wide selection of commercial property choices. Great property managers know how to set your property apart from other options and market it based on its unique attributes and advantages, often at a premium rate. This differentiation makes it easier to target tenants and ensure profitability.
Investors and tenants alike want a property manager that is accessible and responsive. From frequent client contact to personalized tenant move-ins, and from portfolio reviews to regular satisfaction surveys, a successful property manager maintains open lines of communication with lessors and lessees. Wise managers know it’s much easier to maintain existing tenants than it is to attract new contracts, so they work to create lasting connections.
Don’t settle for a property manager that is satisfied with the status quo. Instead, partner with a property manager who clearly organizes data to stay on top of marketing strategies, financial information and facility details. By investigating the possibilities of a real estate portfolio in advance, effective management partners ensure that your business can strategically shift and adapt to trends in the marketplace. This, in turn, can help maximize the profitability of any property.
Through successful property management, it is likely that your business portfolio will grow. The best partners will use their experience and insight to assist in the development of expansion plans and provide additional services as needed. Contracting with a property manager that is also licensed in real estate gives your company the flexibility to purchase or sell assets to facilitate greater profitability.
If you are in search of a partner that provides these qualities and more, contact Intelica CRE. We know property management is about more than a solid roof over every room, and our team of experts and consultants will work with you to ensure that you and your tenants are truly happy.