How many commercial properties make up your investment portfolio? As soon as you have more than one or two to look after, it can become a bit much. There's so much you need to organise when you have commercial tenants and there's likely something vital you need to do everyday.
If you're just keeping your head above water, and especially if you're struggling to keep up with the demand from lessors, you need a commercial property manager.
A commercial property manager can help you maintain your investments to a high standard. You want your lessors to be happy with the real estate they're paying for, and a property manager can ensure any issues are resolved quickly and efficiently.
If you own a retail space, for example, you might require security services such as CCTV monitoring or after-hours guard patrols on the premises. Rather than organise these yourself, and manage the accounts for the extra expenses, let your property manager handle it all.
The same goes if there is any damage to the property, whether it's caused by the tenant or not. If the plumbing suffers general wear and tear and needs servicing because it's leaking, you'll have to pay for it, but the property manager will organise the repairs so you don't have to take time out of your busy schedule. Even if the tenant causes damage (e.g. someone on the property breaks a hole in the wall or scratches the windows) your property manager will sort out the repairs and charge it back to the lessor.
As a property investor, be that purely commercial or a mixture of commercial and residential, you should always be looking for ways to expand your portfolio and increase your potential returns from rental income. That means keeping an eye on the local markets and gaining as much information as possible so you can make smart investments.
When you have a property manager looking after the day-to-day operations of your current real estate, you have more time to scour the country for your next purchase. What's more, your property manager is an expert on all things real estate. If you need advice about your next investment, simply ask!
To free up some time so you can look around for your next big money move, hire a commercial property manager and hand the day-to-day tasks over to them. For more information about why this will benefit you, contact Ray White Commercial Gold Coast today.