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Three Reasons To Hire A Property Management Company

If you own commercial property that deals with tenants, or are thinking of buying a commercial property that deals with tenants, hiring a commercial property manager can save you a lot of time, hassle, and potentially money. Particularly if you own multiple commercial properties, it can be difficult to keep up with all of them in a timely fashion and make sure your properties and tenants are given the attention that they deserve. In an area where commercial property rentals are competitive, you must be sure to provide top notch customer service to keep your tenants happy and your income stable. Hiring the right commercial property management company is a way to address this important facet of commercial investment.

Three Reasons To Hire A Property Management Company

  • The can conduct market studies of your area
  • They deal with litigation of delinquent tenants
  • They handle complaints and schedule maintenance

Market studies are beneficial to help you get maximize your income while minimizing your vacancy rates. Basically, it’s keeping a close eye on your competitors – what amenities do they offer and what do they charge for them? It’s a very delicate balance and can change constantly, so taking that investigative work off your plate may save you a tremendous amount of time and worry (Not to worry money from excessive vacancies). A good property management company will be in contact with you frequently about local market studies and what’s going on with your main competitors, which allows you to make adjustments accordingly.

Dealing with delinquent tenants is not a fun part of commercial property ownership – but it is an aspect that must be dealt with quickly, professionally, and legally. Evicting delinquent tenants is actually a very involved legal process, and hiring a commercial property ,management company to take care of that is worth the money. They file the correct legal paperwork in the court system, can show up on your behalf at court dates, keep detailed records of interactions and attempts to contact tenants, etc. A good management company will also be able to head off evictions before it gets to that point by having strong negotiation skills and an ability to work with people and make certain adjustments to tenants who are struggling, which will only serve all of you well in the long run.

When you have a large commercial property or multiple commercial properties, scheduling maintenance and handling complaints can be an arduous, never-ending task. From leaky faucets to non-functional electrical outlets, your property management company will handle these calls and send qualified individuals to fix the issue, if needed.  They will also handle things like yearly fire inspections, health department inspections if needed, and keep a record of these inspections on your behalf. This will save you a lot of time and give you peace of mind.

 

In the meantime, check out these 1-click searches:

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Newest Key West Commercial Properties on the Market

Terrific investment opportunity! Commercial building with three ample leasable spaces and great visibility on US1. Building is in excellent condition with marquee signage with upgraded electrical and 120 feet of frontage. Units are individually metered and can function well for retail, office or food & beverage businesses. Ample parking in front, along the side and in the rear of the building.  Opportunity for expansion behind the building as well. $729,000 Active

30971 Avenue A Big Pine, Florida

3 Baths 2,271 SqFt

Listed $50,000 under appraised value. Rare opportunity to purchase the Historic 7 Mile Marina less than a mile from 7 Mile Bridge with over 360ft of US-1 frontage! Commercial property consists of protected marina, 3,600 sqft building. Marathon approved transferable building rights allowing 9,332 of commercial floor area, two tax keys totaling +/- 54,768 sqft or 1.25 acres. Property being sold ''AS IS'' no warranties or representations and no leases. Includes a deed restriction for neighboring property not to store straps within 75 ft of NE property line. Prior to 2014 fire, property had a 150 seat restaurant and office. $3,150,000 Active

1090 Overseas Highway MARATHON, Florida

2 Baths

Here is your chance to own a turnkey restaurant property in paradise! Recently updated and renovated, this restaurant property is a staple to the local community.PRIME US1 FRONTAGE, Average daily traffic is over 16,000! Total of 168 seats, qualifies for SRX license, and offers tons of parking on the 20,000sqft lot. This property is ready to go, don't miss this opportunity! $995,000 Active

31044 Avenue B Big Pine, Florida

3,252 SqFt

$15,000 startup grant available to an energetic formally trained chef with innovative ideas & ready for their big break to start their own restaurant.  Key West restaurant/bar location lease for only $5000 mo!  There's an amazing concentration of residential addresses nearby, with several larger ocean front condominium complexes & hotels just a few blocks away, for a lucrative takeout business or to fill your seats. You can't beat the price when comparing to other Key West properties that offer a restaurant/bar opportunity. With a 2600+ sq. ft. building, the location offers high visibility in the cross town area of Key West zoned for a 79 seat restaurant/bar with beer & wine sales. Huge kitchen & prep area, walk in cooler & freezer, large storage room/office/casual area & 3 restrooms. Property must operate as a restaurant with a beer and wine license. Triple net lease with F/L/S. Tenant to verify all information. 
 
To participate in the grant, proof formal culinary arts training and Key West residency (minimum of 2 years) absolutely required.  Grant is for rent payment for the first 3 months rent. 
 
A member of the LLC is a licensed Florida real estate agent. 
$5,000 Active

1500 Bertha Street KEY WEST, Florida

3 Baths 2,646 SqFt

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Posted in: Business Solutions, Buying Commercial Real Estate, Landlord Rights, Leasing Commercial Real Estate, Lodging, Owning a Business, Renting Commercial Real Estate Tagged: benefits of having a commercial property manager, benefits of having a commercial property mnagement company, commercial property management company

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410 Caroline St.
Key West, FL 33040

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98880 Overseas Hwy.
Key Largo, FL 33037

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