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Our Commercial Property Management includes day-to-day management of property operations including revenue tracking, managing tenant and vendors, vacancy and rate benchmarking, repositioning of properties and monthly reporting.
Generally, Commercial Property Managers handle the financial operations of the property, ensuring that rent is collected and the mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time.
Commercial Property Managers also negotiate contracts for janitorial, security, groundskeeping, trash removal, and other services. When contracts are awarded competitively, managers solicit bids from several contractors and advise the owners on which bid to accept. They monitor the performance of contractors and investigate and resolve complaints from tenants when services are not properly provided. Managers also purchase supplies and equipment for the property and make arrangements with specialists for repairs that cannot be handled by regular property maintenance staff.
One of the most important responsibilities of the Commercial Property Manager is to find new tenants. This is done in several ways, such as, creative advertising, this is making sure that ads and signage are worded to “catch” the attention of prospective tenants and placed in the most cost effective locations. Another very effective way is to build referral sources in the community by participating in local real estate, business or Chamber groups. Also, building a rapport with other property managers in the area, helps “increase the available inventory” to present to prospective tenants when they call.
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