A commercial property manager takes the day-to-day efforts and stress of owning a commercial property off your shoulders. Across retail, office and industrial, professional commercial property management benefits investors by taking care of their property including tasks such as lease management, finance monitoring and reporting, and maintenance and repairs.
As property owners ourselves, our team understands the benefits of professional commercial property management first-hand. From working with both first-time property buyers and seasoned property investors, we understand which benefits matter most to our clients, including some of the less obvious advantages.
Curious as to what benefits you could stand to gain? Read our full list below.
1. Free Up Your Time
Hiring a commercial property manager means that you can stop overseeing every detail of your property and instead focus on what you care about most. Whether it’s building your portfolio, advancing your career, or having some extra time to enjoy, commercial property management puts you back in control of your time.
2. Save On Headaches
Juggling the state of the property, the happiness of the tenant, legal obligations and financial returns all while trying to keep up with the market can be a quick route to headaches. Property management teams take this stress off the shoulders of investors, allowing them to make the most of their investments with ease.
3. Unlock Expert Insights
Even seasoned property investors can’t know everything there is to know about the local market. With a dedicated local property management team you can keep up with how the market is performing across every commercial asset and every Perth suburb. With detailed expertise on how your property sits in the wider Perth landscape, you can gain valuable insights that help maximise your investment value and improve your investment decisions.
4. Reduce Your Investment Risk
By staying on the cutting edge of local and market trends, commercial property managers help investors minimise their risk. By being proactive in response to emerging market trends, commercial property managers can lower the risk of your investment.
Some ways that commercial property managers can lower your risk include:
Ensuring legal compliance.
Staying ahead on regular maintenance and repairs.
Detecting upcoming risk factors including volatile market conditions or property issues.
5. Improve Tenant Relations
It’s not just investors that enjoy the convenience of a dedicated commercial property manager. With commercial property management, tenants receive more effective communication at every stage. This leads to happier tenants, less turnover, and longer lease times.
6. Feel Confident in Your Legal Compliance
Local regulations for commercial properties are constantly being updated and reviewed, and staying ahead across all local regulations and compliance is no easy task.
Safety standards, accessibility, zoning and energy efficiency are just some of the areas in which commercial property compliance is required. With a commercial property manager, you can feel confident that your property is legally abiding and avoid any risk of a fine or lawsuit.
7. Maximise Your Commercial Properties Potential
Financial monitoring and reporting increases the income potential of a commercial property by ensuring that the rent amount is set at the exact correct market rate. Setting the rent above the optimum amount can cause increased vacancy rates which squeeze return on investment, while setting the rent below this amount will have you missing out on potential revenue. With a dedicated commercial property management team, you can be confident that you’re setting it at the right rate.
8. Lower Costs
While commercial property management might seem like additional overhead at first, commercial property managers help bring your overall cost down. By ensuring diligent compliance, staying ahead on maintenance and repairs, and providing keen financial insights, property managers save investors both time and money in the long run.
Wondering What Commercial Property Management Can Do For You?
Not all Perth commercial property managers provide the same benefits. At Vast Commercial Property, we aim to do more than the average. As a hands-on property management company, we care about your property as if it was our own. This means that Vast Commercial Property Management clients get bonuses that might not be available elsewhere including:
A comprehensive biannual property condition report that exceeds industry standards.
Asset and tenant management services.
Attending of strata management meetings, to help you stay involved without spending your time.
Intuitive and innovative solutions to help you maximise returns.
Wondering what benefits commercial property management could provide your property? Speak with our team today.
