COMMERCIAL PROPERTY
MANAGEMENT
THE PLAN: Make sure you have one.
So many owners find a great purchase only to see profits dwindle due to unexpected pitfalls, mishaps, or maintenance. Hiring a management company that assists in creating a comprehensive investment plan will not only give you better results, but will give a sense of control. Plans should include goals, scheduled maintenance, marketing strategies, rent increases and an "In case of emergency" exit details. Axiom Property Management will assist you in creating your comprehensive investment plan, and then will follow it through to success.
Investment Plan should Include:
- Property Description, layout, blueprint (if obtainable), services diagram, emergency plans.
- Investment goals. (in annual increments)
- Strategies for achieving goals.
- Potential uses/tenants.
- Lease strength analysis.
- Marketing Strategies for vacancy.
- Insurance needs.
- Estoppel certificates (if needed)
- Preventive Maintenance schedules.
- Planned Capital Improvements
- Monthly and annual report types needed.
- Exit Strategy for unexpected needs.
- All legal documentation pertinent to the investment.
- Legal structure analysis and protection.
- Copies of Inspections.
- Highest and best use analyses
- Current Market Value analysis
- Special needs or requirements.
- Management Agreements
- Other items of interest or note.
|
Office
Complicated CAM fees? Creative leasing? Understanding modern technologies required by today's office tenants- we've got you covered. Understanding lease provisions and assuring they're enforced is essential to an owner maintaining a profitable investment.
Industrial
Industrial/Warehouse needs a trained eye to spot issues that could create EPA issues later on. Without knowledge of the industry and how to market it, industrial can quickly put an owner into a world of hurt. An experienced property manager will save an owner from headache, lawsuits and losing money.
Retail
Retail management is more than just making sure the parking lot is clean and taxes are paid. Understanding the needs of the individual tenant is paramount in assuring that they are successful. If a tenant is successful in your building, you not only create a long term happy tenant; but you draw the attention of other businesses looking to relocate, thereby minimizing vacancy factors.
Condominiums/Associations
Most associations hire management for one reason- nobody wants to be the bad guy and collect the rent from a delinquent neighbor. Effective management companies not only play the 3rd party role, but also bring invaluable insight into cost reductions, preventive maintenance, assuring legal requirements are fulfilled and others. Medical condominium associations have different needs than other types of office associations.
|
