Look for a property manager who can help you keep rent as competitive as possible. Your property manager should have a plan for keeping Common Area Maintenance (CAM) and Taxes & Insurance (TI) as low as possible. A price difference of only a few cents per square foot could add up to tens of thousands of dollars per year. Your property management company should have a strong enough business network that can provide the kinds of services you need for the lowest price possible. Maybe your property manager can negotiate deals with landscapers, repair people and other service providers that you wouldn’t be able to get yourself. An experienced property manager has knowledge of local property taxes and appraisal values. Keeping CAM and TI costs down mean that you can make improvements to your property and keep tenant rent as competitive as possible. That could mean the difference between a tenant choosing to rent from you versus the strip mall across the street.
We are here to help you and your clients with all aspects of commercial property management. Please contact us for further assistance!
There are no warranties, express or implied, including fitness for a particular purpose, made with respect to this communication. Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should obtain the advice of an attorney well versed in these matters.