Commercial real estate is a rewarding investment. However, the actual heavy lifting begins after the purchase is made. There are many misconceptions surrounding commercial property management. What people may not know is that commercial property management (CPM) is the key to not only maintaining a superior environment for tenants, but also for assisting owners and investors with reducing their overall operating costs and enhancing their property values.
Below, we’ve debunked the most common commercial property management misconceptions.
Misconception: Property managers are just there to collect rent and fix things.
Reality: CPM’s Do so much More Than Rent collection and Coordinating Repairs.
Misconception: Property managers will take full control of your assets.
Reality: CPM is a collaborative effort.
Misconception: A property manager is just a customer service role for tenants.
Reality: Successful property management is a hybrid of relationships and leveraging modern technology to manage assets.
Misconception: Commercial property management is a money pit.
Reality: Hiring CPM professionals is a long-term investment.
When it comes to real estate ownership, it’s imperative to have a credible and reputable property management team with your best interest in mind to minimize risk, maximize profit, and protect your investment in an ever-changing market. Download our eBook, An Owner’s Guide to Commercial Property Management: 7 Strategies to Increase Profitability & Efficiency, where we’ve uncovered the seven strategies needed to safeguard your asset and improve its bottom line.