Posts Tagged ‘property management’

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.

 

Do You Really Want Another Job as a Property Manager?

real estate, property manager, property management, depressed, depression, angerYou’ve been through this before. Every problem that comes up is your fault and/or responsibility. Something’s not done on time? Yep, that’s your fault, too. People haven’t paid their rent on time? Well, surely you must be at fault somehow.

Property management is not for everyone. In fact, it’s not even for most people. Before you think of getting into property management, there are some things you should consider – or be reminded of – beforehand.

Taking conflict with property management personally

Remember, for the most part, people are going to come after you if there is a problem with a leaky faucet or heat that isn’t working. Not everyone does it, but enough that, after a while, it starts to get to you.

It’s hard not to take some of these things personally when the tenant makes you feel as though it’s your fault these things have happened in the first place (even though it’s not). Two things usually tend to happen here – either you have a thick skin and these things just bounce right off of you, or it slowly starts to get to you.

It’s hard not to take some of the comments personally. If you haven’t done property management before, it can be especially difficult.

Money you need to spend vs. money you can save

If you buy a building that’s been there for a while, people usually just accept the current contractors. Because of that, sometimes you end up paying more than you want.

For instance, do you think about trash disposal? If you know the right people, you could save up to 30 percent. Also know that, in some instances, you don’t need to change the air filters every month in all offices. It depends on the unit you have the filters you use. Be sure you really delve into the details so you’re not spending money you don’t need to spend every month.

If you save time, you save money

Saving time is big. Unless you plan on being available 24/7, you’re going to become annoyed. If you have a full-time job, you might not have time to call the HVAC contractor and get everything scheduled if the heat goes out in your property.

Some issues are “hot button issues” and can’t be solved by making a phone call. This is when you really start seeing your money go down the drain. If there’s a leak that’s caused a lot of problems, you’re going to have to talk with the contractors and the tenants, usually face to face. With these “hot button issues”, it is more about tenet relationship than simply fixing the problem.

There is help available to you

At Blackwolf Commercial, we take the hassle of property management out of your hands so you don’t have to worry about it anymore. You don’t have to think about your property every day. Your experience becomes 100 percent hands off.

If you’re searching for management services for your commercial income property, but you don’t have the time to deal with preventative maintenance programs, maintenance requests, tenant issues and correspondence, or upkeep, we take care of the legwork for you.

We take care of our tenants, so you can concentrate on other activities. Our comprehensive property management services allow you to collect rent checks without dealing with landscaping companies, calling for repair services, or fielding requests from tenants.

Whether you own an office building, a medical center, or any other type of commercial investment property, rest assured that Blackwolf Commercial remains right on top of any issues that impact your tenants, your property investment, and your income.

When you are ready to collect real estate investment dollars without worrying about managing properties, give our office a call at 240-578-4220 or contact us online and we’ll be in touch.

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!