As a commercial property manager, there is a lot to oversee in a commercial entity. This makes the management of commercial real estate quite challenging, especially for the less experienced. In our bid to help you out, we have compiled four tips to make you succeed in commercial real estate management.
Posts Tagged ‘ commercial properties ’
So you’ve finally decided on a great piece of commercial real estate to settle your office or business into. You hope your business will soon have a place where employees can gather and discuss with ease. However, there are still some factors you need to prepare for financially before jumping straight into a lease or rental contract. You are likely paying for a common area or building use fee on top of a rent charge. This includes areas that all tenants use, like a parking lot, elevators, and hallways. These are added to your monthly rent bill as something known as a “load factor.” Understanding what a load factor is is extremely important for properly budgeting for rent each month and also will help clarify exactly what you are paying for. This article will help clear up the often confusing terms and conditions of commercial real estate load factors. (more…)
In 2020, commercial real estate investors need to think of creative and resilient ways to keep their properties’ value high. One of the types of commercial properties that has had the most challenges is office buildings. Many companies are realizing that they can skip the monthly rent and work from home just as well. While there is value to working in an office, you as an investor may have to improvise. Converting commercial properties to residential ones is one possible idea.
For small to mid-sized businesses, renting commercial real estate seems the natural choice. It’s what everyone does, right? Not so. Purchasing commercial real estate has its benefits as well, and for ambitious entrepreneurs who want to go for the long haul, investing may be the way to go for the following reasons.
It is no question that selling a commercial property is a challenge. However, there are several ways to make this process easier as you put your property on the market. If you are in the process of preparing to sell your commercial space, consider these three easy tips to sell quickly and efficiently in the near future. (more…)
It is a tale as old as time, sometimes the people we hire for certain services add superfluous hidden fees for things we may not even understand. In real estate, it is no different. If you are looking to hire a property manager to handle landlord responsibilities, it is important to look out for sneaky fees that may end up significantly reducing your profit. (more…)
Rental property management requires severe organization and skill. As such, when you are fortunate enough to manage multiple properties at one time, the situation could be cumbersome if not well-prepared. In fact, it is important to prioritize the most urgent needs first. As a property manager, it is your responsibility to manage and resolve any lingering or sudden problems that arise. Acting in a proactive way to help all tenants is a vital component of property management. As a result, there are certain tips and tricks of the trade that can help you be the best rental property manager and alleviate some of the insurmountable stress that invariably results. (more…)
A luxury hotel experience is something every hotel guest desires. This means excellent customer service and precise attention to detail play a critical aspect of any hotel experience. While property managers provide a living situation that is more permanent than a hotel, there are certain aspects of a hotel experience that can easily be incorporated into the property you are managing. Ensuring that your residents are satisfied is an essential part of managing a successful property. Allowing your residents to feel like they are your number one priority ensures that they will continue to live there. (more…)
Buying or selling a commercial property isn’t a small decision. You’ve got an entire team of employees relying on you to meet their needs, and you have to balance things like client appeal, your budget, and location. Picking the right space can be difficult, but with the help of a commercial sales team, you will find yourself on the right track. At Clagett Enterprises, we will work with you to find the right property at the right price. (more…)