As a business owner, property management is another “to-do” item that needs to be checked off the list. However, if handled incorrectly, it can quickly become a costly headache that gets in the way of other activities that generate real bottom-line revenue and organizational value. Whether you’re a small business or large company, outsourcing your property management needs can help you reduce costs and stay focused on growing your business.
If you have yet to consider the option, below are seven reasons your business can benefit from outsourcing your property management needs.
1. Lower Costs
A good property management firm enables you to leverage established vendor relationships, staffing efficiencies and best practices for preventative maintenance programs to minimize costs while preventing premature equipment failures that lead to expensive repairs. Furthermore, outsourcing allows you to minimize your overhead, focusing your resources on your core business objectives.
2. Energy Savings & Being Green
An experienced property management firm can help you lower your monthly energy bills by up to 50% by analyzing your buildings’ power needs and providing simple, low cost upgrades to your lighting and occupancy sensors. Client retrofits typically pay for themselves in as little as 6 to 12 months.
3. Ability to Focus on Your Core Business
Worrying about your property can prevent you from focusing on what is really important to growing your business. Outsourcing your property management needs allows you to focus on the core activities that drive revenue while still maintaining a property that is clean, operational and beautiful.
4. Preventative Maintenance
By outsourcing your property management needs you are actively engaging in a preventative maintenance program to extend the life of your equipment, appliances and building structure. A property management firm will implement routine checks for leaks and structural issues to minimize cost and improve site safety.
5. 24/7 Coverage With Expert & Reliable Performance
Your business can benefit from an existing team of well-trained property management experts that are able to perform the services needed to maintain your property on a 24/7 basis. This includes plumbing and electrical services, drywall repairs, painting, ceiling tile repairs, carpeting, routine cleaning, lock & key maintenance, and closing/opening of facilities.
6. Emergency Management
Your property management firm will have the people and resources required to respond to any and all emergencies.
7. Safety Compliance
A key part of property management is maintaining all local, state and federal compliances. Your property manager will work with your established corporate standards, local fire marshals, landlords and building inspectors to ensure you’re up to date on all applicable regulations.