Commercial Property Management : How To Choose The Right Company? By John Reeves

If you have enough money to invest in a business, there is nothing better than buying a commercial property. Buying commercial property means to design shopping malls, hotels, plazas, and other business chains. It indeed is one good venture that is worth trying. When you invest your money in it, you can be sure of your financial stability. However, it is not that easy to crack a good deal as it is quite a tricky business. Choosing the right property management company is highly important as it can altogether make or break your bank account. It is really difficult to make them apart and choose one.

Once you buy a commercial property, you cannot free yourself from the hassle of managing that property. Here again, comes the need for a reliable commercial property management company. A commercial property manager is the one who makes sure that your property is always occupied by the right tenants. Your property manager just not meets with the potential clients but he also collects rent on your behalf.

Your rental property is your most valuable asset and for this, you require active management. In this article, you will learn how to find a proactive and professional property management company for yourself.

Choose The One With Specialized Experience

When you look for a property management company for your shopping mall or hotel, make sure that you hire the one with specialized experience. Hiring a person who has a proven record of handling things like arranging tenants for your mall, and then collecting rent is always the wisest choice. You just need to simply ask your manager if he has already managed rental homes. If he has, be specific in knowing the details.

Go For An Accredited Company

When you go for an accredited property management company, you can be sure of its adherence to high standards. A company like this always hires staff who have proper education and experience in, property management. Accredited companies are supposed to follow certain rules. This is the reason you can easily identify such companies.

Check Insurance

It is a must-ask question when you are hiring a commercial property manager for you. It is just not enough to know if the company is insured or not but you also must know that how much insurance coverage the company gives and if their whole staff is trained about their risk management program or not. When a company provides money insurance against all kinds of property losses, it is good to choose them. Most companies also provide coverage against forgeries and money alteration. An honest company would do their best to take full advantage of the opportunities like discounts when they are making a deal on your behalf.

Read Online Reviews

These days it is a must-do thing as it almost goes without saying. Before you hire property maintenance services, make sure that the company you are hiring has a good reputation among its clients. What you can do in this regard is to find Yelp and Google reviews. Reading comments on their Facebook page also helps most of the time. For further positive affirmation, you can check more traditional sources like the Chamber of Commerce & BBB ratings.

Ask For The References

When selecting a commercial property manager, it would be wise to ask for the references. A company that is trustworthy will happily refer you to their existing clients. All you have to do is just pick up the phone and ask those clients what kind of experience they have with this specific company. You can ask them questions like how does your property manager respond to your queries? Do they have any hidden charges? How they handle different maintenance issues? A positive answer to all these questions will make the final decision easy for you.

Know About Tenant Retention

In this fast-paced commercial world, a building’s survival depends upon the retention rate of its tenants. If your property manager is unable to hold your tenants for long, you are in trouble. Make sure the management company that you hire for your commercial property has an existing plan to maintain good relations with your tenants and make them stay.

Ask About Their Services

When you hire a property manager, you must also ask about the different services that he is going to provide to you. A property manager is supposed to provide you with reports like market rent analysis, financial reporting, management planning, lease negotiation, rent collection, budgeting and much more. Know about these different services before you hire one.

Bottom Line!

Before you make a final choice, it would be best to meet your likely choice multiple times. Carefully review what they are offering and what their different specifications are. Take your time before you make the final decision and help yourself find the best property manager for you.

California Real Estate Investments

One of the main factors that prevents many Americans from moving to California is the cost of living. Regardless of the increased salary one has to benefit from in order to afford housing in California, many people still choose to move to California. Because there is a constant movement of people into the city, the need for housing in the state has been quite regular. This is the reason why many investors in real estate have not yet withdrawn from real estate in California.

In an unstable market such as the California real estate watching out for housing trends is important. These trends will provide you with the necessary information in order to find out what will be the right time to sell your holdings and think on settling somewhere else. Two of the biggest factors to pay attention to are home price growth rates and sales rates. Also, it is of good use to have some knowledge of the average market time for California real estate. The shorter the market time is, the better the odds will be for California real estate investors. If there is an increase in the average market time of each reporting period, it won’t be wise to enter the market.

When California real estate investors start to perceive longer than average turnaround time on properties, it means that it is time to remove existing California real estate from the portfolio. Also, to sell the house, it might be necessary to do some price adjusting.

Some of the housing markets on the California real estate that have seen signs of decreasing in the near present are Sacramento and San Diego. Investors in these California real estate markets are usually given advice to sell their properties as quickly as they can in order to avoid losses. Bear in mind that, at this point, it might not be possible to recover any profits from current properties. As these markets continue to decline, it is more important to avoid huge losses.

California real estate investors that have condominiums on their current portfolio will be safe for the time being. There are no strong signals that this market is decreasing with the housing market.

Potential investors will be safe for the time being to invest in California real estate markets like Oakland, San Francisco, and Riverside. All these markets are still showing signs of development. Due to prices being on the rise in these areas, investors should get in and out of these markets as quickly as they can. Although there are gains for the near future which are guaranteed, there is no guarantee that the possibility for gains will last very long in those areas.

Ann Sommers is a contributing editor at This article may be reproduced provided that its complete content, links and author byline are kept intact and unchanged. No additional links permitted. Hyperlinks and/or URLs must remain both human clickable and search engine spiderable.