On average, people start 4.7 million new businesses every year. Some are home businesses, but others require commercial space.
Providing this space to new business owners satisfies a vital demand in Charlotte, NC. But when you own commercial properties, they require management duties.
The best way to handle this is to hire a company that offers property management services. Of course, you must choose the right company, and here are some tips to help you.
Understanding Your Commercial Property Needs
First, consider your commercial property needs and several vital factors, including:
- How many commercial properties do you own?
- How big are they?
- What condition are they in?
- Are they located nearby or spread out?
- How much work do they need?
- Do you have enough funds to pay for property management services?
Considering these questions helps you determine if you need a company to help or if you should do the work yourself.
Evaluating Property Management Companies
Next, look at local property management companies. You need a local company, as they'll know the area well and have access to the properties without traveling far.
As you look at the available options, start by narrowing down the search to companies offering commercial services. Make sure the company has experience with commercial properties and a great reputation.
Consider the number of years in business and read client reviews and testimonials. You could even ask for some references from property management companies and drive by the properties.
Additionally, ask about their services. For example, do they handle all the commercial property maintenance? Do the services include legal liability protection?
Find out if there are services they exclude. If so, can you hire them to do these for an extra fee?
Also, consider their communication abilities and procedures. Are they easy to talk to and get a hold of, and do they answer all your questions clearly?
Comparing Fees and Pricing Models
Once you have enough information about the companies in your area, ask about the fees. Property managers use several pricing models, and you might prefer one over another.
Some charge a percentage of rent, while others charge a flat fee per unit. Compare the fees to find a company that offers prices you can afford.
As you compare the fees, find out what services each company offers. For example, one company might charge a lower rate but not include all the services another company offers.
Once you find the right company, sign a contract. Read it closely to ensure it states everything you agreed on, and look at the contract length.
Choose the Best Property Management Services
Managing one commercial property might not be so bad, but managing many can be stressful and time-consuming. That's why you need to hire a company for property management services.
Property managers make your job easier and help you manage your stress.
PMI Charlotte is a full-service property management company in Charlotte, NC. We are experts in managing commercial properties and provide excellent communication habits with our clients.
Get in touch with us today to learn more.
