Posts Tagged ‘frederick’

4 Reasons to Choose Commercial Property Management

 

While you may think you’re qualified to be a property manager for your own commercial real estate property, a lot more goes into it than you may think. A good commercial property management company can help you retain the clients you need to keep your property fresh and up to date.

Property Managers are fully certified.

While it’s not required to be certified as a property manager, certification is a good idea. Using a certified property management company means that they are up to date on federal regulations.

There are two types of certifications for property management. One is more general: the certified property manager. The second one is specific to commercial property management: accredited commercial manager. When searching for a commercial property management company, choose an accredited commercial manager, not a commercial property manager.

When trying to manage your own commercial property, you could run into issues with violating federal regulations. These violations could put your financial well-being at risk with a hefty fine, or even threaten your property. A commercial property manager will be able to guide you around the bureaucratic minefield of federal regulations.

Commercial Property Management can lessen your maintenance headaches.

Cleaning the gutters on your single-family home may not seem like a huge chore. As a matter of fact, you can probably get it done in one afternoon by yourself. When it comes to commercial real estate, however, maintenance is not that easy.

Commercial real estate properties can range from a sprawling office park to a 20-story high skyscraper. “Cleaning the gutters” on properties like these will definitely take more than an afternoon.

Besides the sheer scale of maintenance for commercial properties, there’s also the maintenance needs of your tenants. When you rent out your old beach house, you only have one tenant to worry about. When you rent out your commercial real estate, you need to multiply the likely number of maintenance requests by the number of tenants.

Using commercial property management can actually save you money when it comes to maintenance. You can get in over your head quite quickly when it comes to maintenance and have to pay emergency fees for a repair team to come to your location quickly. With commercial property management, you have a dedicated maintenance team for your property. If there’s a plumbing issue with an upstairs toilet, they’ll be there to fix it pronto.

Commercial Property Managers have years of experience.

Commercial real estate is a broad term that encompasses a wide range of industries. Managing an office park is different than managing a retail store, which is also different than managing an industrial center.

With commercial property management, you’ll have a property management team specific to your industry. This means they can encourage portfolio growth while holding onto any major anchor tenants.

Your commercial property manager should create a tenant retention plan for your property. This will help them optimize who stays in your building. By holding onto high-profile tenants through lease negotiation, you’ll be able to receive more return on your investment while also boosting the prestige of your business.

Commercial Property Management can keep your commercial real estate investment fresh.

As time goes on, trends change, and the needs of your tenants do as well. A large part of holding onto tenants and attracting new prospective tenants is done by keeping your commercial real estate on trend. A property manager who knows your industry will know what tenants are looking for and how you can use that to your advantage.

A great way to keep your property fresh is through a redevelopment plan for your building. A commercial property manager will design this plan to keep your building a step ahead of your competitors. This may mean a new security system, IT network, or more cosmetic upgrades like painting, flooring, and upholstery.

A commercial property manager will also be able to tailor your renovation plan to suit the tenants you’re trying to attract.

 

Blackwolf Commercial specializes in Commercial Property Management

Overall, commercial property management is a great way to boost the return on your investment. They’ll help you avoid hefty fines and stay on top of federal regulations, while also attracting tenants and shielding you from aggravating maintenance woes. Don’t underestimate the years of experience commercial property management companies can use to your advantage.

Here at Blackwolf Commercial, we pride ourselves on putting our team’s years of experience to work for our clients. We use a strategic approach to maximize risk-adjusted returns by employing a fundamental value approach to investing. Our team’s extensive experience in commercial real estate has allowed us to build broad-based, substantive industry relationships with advisors, agents, operating partners, investors, lenders, and corporate/institutional owners of real estate.

If you’re looking for a great commercial property management company, we’re here for you. We can offer asset management, investment opportunities, and a fundamental value approach.

Contact us today to get to know our team and see if we’re the right property management company for you.

 

Why You’re Having Problems Selling or Leasing That Last Suite

selling, leasing, property, real estate, commercial property, frederick, marylandYou’ve had that last suite for what seems like forever now. You’ve shown the property time and time again, but no one is biting. At this point, if your hair hasn’t fallen out, you’re really tempted to pull it all out.

Although it might seem like you’re never going to sell or lease that last suite, there are a few things you might not have thought of that could help you finally move that property.

Create Yourself a To-Do List

You’d be surprised at some of the things you could do to help sell that property quicker. For example, have you thought about the parking lot? Repainting the parking lot, which could cost you maybe $800 to $900, can leave an amazing first impression and gives the property tremendous curb appeal.

Speaking of curb appeal, how does it look outside of the suite? Surely, you’ve cleaned random debris and trash, but what about landscaping? Do the shrubs need to be trimmed? How about new mulch? Do you have any signs up, and do you have the address numbers clearly posted for people to see? Cleanliness is vitally important to selling property, as is any kind of charm and appeal you can give it.

Inside of the suite, there’s a good chance you’ve already cleaned it, but how does it look inside? Do the carpets look bad? If so, it’s best to just pull them up and leave the exposed concrete. Most people usually don’t mind this, so just go ahead and rip it up.

How are those ceiling tiles looking? Do some have spots or are they turning brown? Since it only costs about $9 to replace a ceiling tile, it would probably be in your best interest to do so. Now that those tiles are cleaned up, could the walls use a new coat of paint? That new paint smell tends to let prospective buyers know they’re walking into something fresh. Before painting, however, you probably want to make sure you patch any holes that are in the walls. This is a relatively cheap thing to do.

Looking at the Lease

If you’re leasing the property and find out a prospective client doesn’t get along well with their landlord, give them some names of people to talk to about it. The prospective client will rarely call, but they do like that you’re looking out for them. After all, you wouldn’t give them your tenets number if you were a bad property manager, right?

It’s also important to have a list of all of the details ready for people. For a lease, be sure to let them know what is and is not included in the rent, I.E., does the power bill go to the landlord or to the lessee? All of this information is key to getting this property off your hands.

Parking, Pricing, and Proximity

The best times to take a prospective client to look at parking is at 9:30 a.m. and 1:30 p.m. It’s easy to show them the building and parking once everyone has gone home for the day, but unless they know what the parking situation really is, they’re not going to be happy once they find out how little parking there might be available. The best practice is to be up front with them.

It should come as no surprise that pricing is going to be a pain – not just for the prospective buyer/lessee, but for you as well. The price has to be right the first time. Higher priced properties are going to turn off people’s interest, especially if there are other buildings that are comparable and cheaper. If the price isn’t right the first time, people are going to either walk away or want to haggle with you. You really don’t have the time to deal with that, and neither do they.

One of the things that helps with value is the property’s proximity to amenities. Different companies need different amenities. Your prospective client needs to know what’s around them: restaurants, daycare facilities, grocery stores, etc. These things add value and will help you make the sale.

Be careful, though. If the property is in a bad area, you have to focus on the positives as much as possible. Even still, no matter how low the price, people might not want the property if it is at a horrible location.

Look No Further for Guidance in Commercial Property

Sometimes, no matter what you do, you need help. After all, leasing a property is difficult. That’s where the professionals at Blackwolf Commercial come in. Blackwolf specializes in commercial property listing services. They are a local broker group with an in-network email system.

Blackwolf knows people, and they know people who are looking for property just like yours. Based on word of mouth alone, they have been able to get the right people into the right properties, and they can do it for you, too.

The team at Blackwolf knows that when it comes to negotiating, it all comes down to price and timeframe. With experience in many scenarios, they know what people expect and want in an office. Some people might walk into an office thinking the space doesn’t fit their needs, not realizing if they simply knocked out a wall, it would work very well for them.

Most importantly, Blackwolf has relationships with architects and contractors, so putting a plan together to get work done is a breeze. They can talk with them to understand what the costs would be.

Before giving up on a property, be sure to contact Blackwolf Commercial to see what they can do for you and your properties.

Why Should You Invest in Hagerstown Commercial Real Estate?

commercial real estate hagerstown

Choosing where and how to invest in real estate can be a difficult decision, but with the right research you can feel confident that you’re making a financially beneficial investment. The city of Hagerstown, MD, is home to affordable opportunities to invest in commercial locations. With a historic downtown area and a constantly increasing population of both residents and tourists, there has never been a better time to invest in Hagerstown, MD commercial real estate. Let’s take a closer look at some of the reasons why Hagerstown is the right place for you and your commercial interests, no matter what they might be. Why Maryland?

Location, Location, Location

Everyone knows these are the three most important things to keep in mind when dealing with real estate, and Hagerstown couldn’t have a better location. Maryland as a whole is home to endless historic sites, from Civil War museums and monuments to its proximity to the White House and everything Washington, DC, has to offer. Being located within an two hours of the nation’s capital provides a safe investment that simply can’t be matched anywhere else in the country.

Intersected by three highways and with its own regional airport, Washington is a major industrial and transportation hub in the Mid-Atlantic region. Besides that, it’s within a day’s drive of two-thirds of the country’s population (as it’s halfway between Boston and Atlanta). Hagerstown was listed as one of the best small cities to travel to in 2018. Investing in Hagerstown real estate means business year-round from tourists and locals alike.

It’s Only Getting Busier

The location is excellent, and that’s a great foundation. But businesses in Hagerstown aren’t merely consistent – they’re continually growing and expanding. Maryland ranks:

  • 9th among the states in the value of venture capital deals for 2015
  • 4th per capita and 5th overall in Small Business Innovation Research Program (SBIR) awards for 2015.
  • 3rd overall and 2nd among larger population states in the Kauffman Index of Growth Entrepreneurship.

This is all on top of the 85% of surveyed business owners expecting this year’s business to be better than last – a completely reasonable outlook to have considering that 76% reported 2016 to have been better than their previous business year. Tried and true, business is more than just steady, it’s actively increasing at exponential rates. This, of course, will come as no surprise when you realize that:

 The Workforce in Hagerstown is Unmatched throughout the Nation

Of course, it’s not just enough to have a national business hub; you have to be able to staff accordingly with experienced and trusted workers, which Hagerstown absolutely has:

  • Almost 60% of Washington County’s population is of working age
  • Maryland boasts the best in the country for the percentage of technical and professional workers in the workplace (28%) and private sector employment dominates Hagerstown’s workforce.
  • More than 3,000 businesses and 88,000 potential hires to fill positions in those businesses

There’s no business you could begin or relocate that you couldn’t staff entirely in Hagerstown. Do you remember what we mentioned about location earlier? Even if you can’t staff entirely within the county, the Hagerstown Urban Improvement Project is quickly revitalizing the downtown, making a convincing offer to potential employees from out of town to relocate.

So whether you’re just starting a business or looking to expand an existing one, there’s no reason not to invest in commercial real estate in Hagerstown, MD. With undeniable statistical business success, highly valued location advantages and top-notch quality-of-life ratings throughout the county and state, there’s never been a better county to invest in real estate – and there’s never been a better time than now.  Contact Blackwolf Commerical today and make the easiest business decision you’ve ever made.

3 Reasons You Need Good Property Management

Congratulations, you’ve made a commercial real estate investment!
To make sure you get the most out of your investment, you need to be able to trust that your property has the best management around. If you’re not planning to field tenant calls at all hours or show up to repair every issue on one of your properties, you’re going to need to hire a property manager to handle the heavy lifting. That’s where we come in.

Whether you’ve gotten into commercial real estate through Blackwolf Commercial or you’re a long-time investor looking for new management, we’d be happy to provide you with our decades of experience in property management. Not sure what to expect? Here are some of the reasons you shouldn’t settle for anything less than the best property management in Frederick:

Time is Money

If you’re hesitant to hire someone to manage your properties because you think it’s not worth the money, think again. You might know a good bit about managing your own properties – you might even know enough to feel confident that you can do most of it yourself. However, your time is precious. Hiring someone with an organized and professional plan to manage for you will save you time, and therefore, money.

Of course, you could spend your entire day taking calls from tenants and shoveling snow when the plow doesn’t arrive on time, but then your whole day would be gone. Paying a monthly fee to have your property managed in half the time you would have spent personally will save you big in terms of both money and stress relief. If you value your time as most investors do, you’re better off writing a check and spending your valuable time on other things. Let us handle it.

Your Property Should Be Protected at all Times

As a property owner and investor in Frederick, MD, the success of a real estate investment hinges on ensuring that tenants are safe, comfortable, and satisfied. At Blackwolf Commercial, we’re of the mind that property management shouldn’t consume all of your time and money that could be best spent in other ventures. That’s why we field all of your repair and maintenance needs, tenant requests and complaints, and landscaping orders. Plenty of commercial property companies offer some combination of the three, but few can handle all of them at once to give you the 100% hands-off experience we believe you should be getting.

Trust us, you want a 100% hands-off experience. If you don’t want the hassle of dealing with a tenant’s needs early in the morning or late at night, they aren’t getting the best service they can get. If you don’t have an organized and efficient plan to repair damages or amend complaints quickly as they arise, your tenants will demand better service. Chances are that you’re busy and you don’t have time to provide service all the time. At Blackwolf, that’s exactly what we offer, both to you and (as your property managers, through you) to your tenants. Let us work the early bird and night shifts so that you can rest easy knowing your investment is safe.

Fix Property Management Problems Before They Become Problems

You might not be aware that there’s a crack in the ceiling of the corner room of the small office in the complex you’ve rented out to a new business. Maybe the person working there isn’t aware either, or just doesn’t think of it as a big deal – until a heavy rain springs a leak and then all kinds of repairs and clean ups need to happen. The tile needs to be fixed, the carpet needs to be replaced, and you’re the one who has to organize all the maintenance, all because no one bothered to report a small issue before it became a pricey problem.

With Blackwolf managing your property, we make sure every reasonable issue is brought to your attention in a timely manner. Don’t worry, we won’t spam you with emails every time a tenant spills coffee on the carpet, but you’ll be the first to know if there’s an interior or exterior problem with your property that could cause greater damages if left unchecked. You don’t have to stay up wondering if someone who leased the building is qualified enough to know they’ve got a problem on their hands; leave that to the professionals.

If you’re realizing now that you’d rather save the time, money, and stress that comes with managing your own properties, get in touch with us. Your tenants deserve the best, and so you do; let us handle the hard stuff by providing you the best commercial property management that Frederick, MD, has to offer.

Happy investing!