You don’t have to be a real estate expert to understand the value of professional property management. If you’ve invested in commercial properties anywhere throughout the High Desert, you need an experienced property management team that can ensure the success of your investments.
What should you be looking for when you’re choosing a management partner?
As the region’s longest serving commercial property management company, we have a few ideas about how you’ll know you’ve found the right property manager.
Look for a Local Expert
Only consider property managers who understand your local market and can get to your property quickly. With a local management expert, you’ll have a good understanding of market rents and the general tenant pool. Property management is a very local business. There are laws and regulations that require compliance, and you need an expert in the neighborhood that your property is located.
If an emergency response is needed, you’ll want a property manager who can get to the scene promptly. Having someone less than an hour away is critical.
Choose a Commercial Property Management Expert
Experience is more important than anything else. Talk to the team that would be managing your property and ask about the strengths and weaknesses of their company. Get to know what kind of properties they have managed in the past. You want a management partner that’s focused on commercial properties like yours, whether they’re warehouses, office spaces, retail properties, or restaurants.
How long have they been in the industry? What kind of professional associations or networks do they belong to? Ask if they participate in any continuing education or professional development. Set up some interviews with potential management companies and make sure your business goals align with what they can provide.
Your Property Manager Should Prioritize Communication
Before you decide to work with a commercial property manager, make sure you share your expectations about communication. You want to prioritize clear communication when choosing a management company. They should establish channels of communication and provide regular updates regarding your investment.
Property managers should also communicate regularly with your tenants to ensure their questions are answered and their needs taken care of in a timely manner. Good communication promotes a long-term occupancy and great customer service experience for you and your tenants.
Look for a Reliable Maintenance Process
Renovations, upgrades, and tenant-driven updates will be necessary at your property.
You’ll need a property manager who can effectively oversee these projects. Look for a good network of professional vendors and contractors. You want someone who understands which renovations are most worthwhile and likely to increase your return on investment. It matters when remodeling projects are chosen according to your investment priorities, which are likely to preserve the equity and the integrity of the property while increasing value.
Choosing a property management company for your commercial real estate might seem overwhelming, but it doesn’t have to be. We can help you, and we’d love to talk about your needs. Please contact us at Preston-Lee Management Company. We’ve been providing property management services in the High Desert for more than 20 years.
