Owning a commercial property is a wonderful way to build community in the Rockland area.
You have an opportunity to lease out to small businesses that can enrich the lives of residents. Everything from office buildings and restaurants to local services can go a long way.
Even better, you can grow your commercial property portfolio to become a real pillar in the community. This goal starts with the right property management company.
Experienced property managers practice effective lease management to ensure income, excellent tenant-landlord communication, lease renewals, and more.
Let's take a closer look at three effective tools in a property manager's toolbox.
1. Lease Management Is Tenant Management
Leasing goes beyond just the signing of contracts. It's a vital part of the tenant experience and should fall under tenant management. Effective leasing strategies are also a property marketing tool.
Actually, the leasing process starts with marketing. Commercial property renters expect to find this information in the property listing.
The above point speaks to the importance of getting a property valuation first to ensure you're pricing the commercial rental properly. This step will help decrease applications you don't need.
Once you've secured serious interest, you can show eligible renters the property.
At this stage, you can already see those landlord duties mounting up. Take the opportunity to hire a property manager who can handle the entire process for you, from marketing the property to negotiating leases. This way, you can focus on building your real estate portfolio.
2. Tenant Relations Management
Think about the time and money it takes to attract new tenants and prepare a commercial space for the next tenant. Turnover is expensive. One way to avoid high turnover rates is to invest in excellent tenant relations management.
This process starts with trust. Trust begins with the property listing itself.
Thus, it's crucial to prepare a space before listing it online.
It's the job of the property manager to present a commercial space in the best light. Every amenity in the listing must be present at the showing.
Property managers hire real estate photographers to take professional property photos. Prospective tenants want to experience these photos in person.
3. Post-Lease Property Management Tools
Once you nail down the above points, you're off to a great start.
Keep up the great work after the lease signing with the following tools:
- tenant portals
- easy maintenance request portals
- fast and friendly communication
- lease renewal incentives
- lease negotiation
- the latest property management technology
Understand that good property maintenance is also a customer service strategy for your tenants. Commercial tenants need a fast and efficient tool for maintenance requests. PMI Properties uses property management software to field requests quickly.
A property manager remains in constant communication with the maintenance company to ensure customer experience standards.
Join the Rockland Business Community
You have an opportunity to help Rockland and Rockland County grow a thriving business community. Working with a dedicated property manager is the only way to achieve this dream.
PMI Properties wants to be your commercial lease management partner and help you grow your income and portfolio. We have years of experience in lease and tenant relations management.
Get to know us even better by scheduling your first consultation!
