The commercial sector has been a little slow to emerge from the recent work-from-home trends, with office vacancies still hovering at almost 50% across major U.S. metros. This is a concern for commercial property investors, but it only means you'll have to work harder than ever to see your rental business thrive.
Hiring a commercial property management team is one way to get ahead during these tough times. Read on to discover the benefits of working with these experts in Putnam, CT.
Reduce Costs and Increase Revenue
Property managers help maximize your commercial rental property earnings by compiling detailed rental valuations to come up with profitable, market-related rents. They advertise vacancies using the most appropriate platforms and carry out thorough tenant screening on every applicant.
These methods help increase demand for your property and ensure you find good tenants who pay their rent on time and take good care of your property.
They manage daily tasks like rent collection, routine maintenance, and bookkeeping. They can help you prepare your taxes and assist with budget planning, too.
A property manager also helps save you money by negotiating with maintenance vendors, keeping tabs on water and energy usage, and minimizing repair costs through effective maintenance coordination.
Coordinate Commercial Building Maintenance
Staying on track with routine maintenance helps preserve the value of your commercial building and keeps it in line with commercial building codes. It also helps prevent costly and unnecessary repairs and keeps your tenants happy.
The best property managers have skilled contractors and specialists on call to help them keep your property well-maintained. They communicate with tenants about upcoming maintenance to avoid inconvenience to them and manage tenant repair requests promptly.
When an issue needs to be attended to, your property manager will vet contractors, compare quotes, and oversee the work to ensure your peace of mind. They will keep precise records of all maintenance performed and arrange for payment of vendor invoices.
Improve Tenant Satisfaction
In a competitive rental market, it's vital to encourage lease renewals by keeping your tenants content. A property manager helps you do this by providing a positive overall experience.
They respond promptly to maintenance requests, engage positively with tenants, manage queries, and resolve disputes cordially.
Most property management companies offer online portals for tenants and building owners. These facilities help streamline many aspects of your relationship with your tenants, such as:
- Transparent communications
- Convenient rent collection
- Tenant queries
- Maintenance and repair requests
- accurate record-keeping
Get on Board with Commercial Property Management
When you hire a property management team, you'll free up your time while enjoying reduced costs, increased earnings, and greater customer satisfaction. You'll also enjoy enhanced peace of mind knowing your property is in good hands.
PMI Putnam is backed by a growing franchise with over 20 years of real estate experience. We offer a range of commercial property management services to help you grow your rental management service.
Our services include property marketing, lease management, and property maintenance coordination to help your business thrive in these difficult times.
Team up with the experts and watch your Putnam, CT, rental business grow.
