The managing of office, retail, or industrial space can be very challenging. With businesses closing at every point, rents going down, regulatory agency requirements becoming more and more complicated and the ever increasing liability of owning commercial property, superior management is necessary for survival. Those that survive in this market will be far better off tomorrow.
The managing of commercial buildings can be much more difficult than residential property. Understanding and being able to write good leases, selecting the proper tenants, establishing rental rates, controlling expenses, reducing energy & utility costs, keeping vacancy rates down and maintaining the building; all of these things can make or break a building’s profitability.
With proper systems set in place, any property can be profitable. Responsive Property Management works closely with owners to define their objectives and budgets and to create great business plans for individual buildings. We then implement the changes to get the desired result. With proper planning and execution, your real estate investment will not only survive, but be prosperous.
Responsive Property Management prepares a management plan based on ten basic functions of good property management procedures:
- Market evaluation to determine rent pricing
- Maintenance / Repairs / Construction
- Property Inspections
- Accounting & Financial Services
- Rent collections & evictions
- Lease preparation
- Active cooperation with Brokers
- Regulatory Agency requirements
- Vendor evaluation & negotiation
- Legal documents & advice