Five things your commercial property manager should be doing for you
There can be a vast difference in the services you receive from property managers throughout Australia. Whether you’re looking for commercial property management for your shopping centre, retail shop, industrial unit or office building investment, there are several key activities that will prove that your property manager is going above and beyond for you.
1. Minimising tenant turnover
Ensuring your commercial property is kept occupied is the foremost role of a property manager, but this isn’t limited to finding the ideal commercial agreement with a long-term tenant. An effective commercial property manager will conduct regular inspections, stay proactive with maintenance and repairs and do everything they can to ensure the tenant wants to renew their lease in order to maximise your return.
2. Protecting you against hassles and inconvenience
Most of the day-to-day administration for a commercial property can add up in both hours and dollars for someone without the right experience. Your commercial manager should be capable of arranging all minor maintenance, building management and issue resolution on your behalf while keeping you well informed. If you find yourself managing your property manager, it’s time to look for someone else.
3. Identifying the true potential of your commercial property
A property manager worth their salt will have an in-depth understanding of the local market, including information on similar recently sold and leased properties and an informed process for
rental rate calculations. Ideally, you will feel that your commercial property manager has a clear idea of your property’s best features and how to market and set the rental rate appropriately.
4. Keeping you up to date with new opportunities
With a clear awareness of the local market, your property manager should also be able to identify
any renovations, additions or changes that could fetch a higher rental rate in your area. For example, increased parking spaces might improve the return of your shopping centre investment, while upgrading your phone or internet infrastructure might boost the appeal of your business property in a competitive office market.
5. Keeping your compliance and administration in order
You should feel reassurance knowing that the contracts, compliance and administration for your investment property are all completely in order. Your commercial property manager should be your first port of call for all questions regarding to safety regulations, compliance and admin, so make sure you feel confident that yours is across every detail.
Burgess Rawson’s commercial property management services are available nationally, from our network of offices in Perth, Canberra, Sydney, Melbourne and Brisbane. Contact us today to discuss commercial property management, shopping centre management or commercial strata management services for your needs.