Real estate is one of the oldest and most secure ways to invest your money. If you’re already a real estate investor, you know it can be one of the most profitable, and potentially lowest maintenance investments you can make. However, if you’re managing your own properties, your commercial real estate properties may be occupying the time you could be investing in growing your commercial real estate portfolio. Wouldn’t it be nice if you could shift investing your time from daily operations to more profitable ventures, while simultaneously adding value to your commercial real estate properties? What if we told you, you can. Keep reading to find out how a great commercial property management services provider can add value to your property.
Property Management Services: Turning Your Investments into Passive Income
The most obvious benefit of hiring a property management company is turning your investments into a passive revenue stream. A great Okanagan property management company can interview tenants, fill vacancies, keep track of tenant complaints/requests and much more. This means never having to do routine inspections or maintenance requests again. It also means you can spend more time on the things you want to. Whether it’s spending time doing the things for your company only you can do, growing your real estate portfolio or even spend more time vacationing! You’ll be able to do whatever it is that you’ve been dreaming of since you’ll have the time – and the passive income.
Commercial Property Managers Add Value by Knowing the Market
Are you getting the most you can for your commercial real estate leases every month? Or are you having a hard time leasing out commercial space because your prices are too high? It can be hard to know what the right price is for your specific commercial real estate properties. With property taxes, building materials, water, and other expenses slowly on the rise, it’s important to increase the rent if the market allows for it. One of the property management services your commercial property managers will provide expert insight into the market. They’ll be able to price your rental units appropriately to help you have as little turnover as possible while getting the most for your units.
Property Management Services: Mitigating Your Risks
Real estate has a reputation for being one of the best, safest industries to invest in. And with good reason. Many other types of investments – from bitcoin, stocks and so on – don’t have anything ‘real’ or tangible backing them. This isn’t to say there’s never risks while investing in real estate. There are plenty, from understanding the market to understanding which appliances inside your lease space need to be serviced or replaced.
One of the property management services companies like the team here at TAFCO provides for our commercial real estate clients is proactively mitigating the risks you may, or may not have thought of. Keeping you, your tenants and your entire company safe is our priority. Whether this means cleaning out some gutters, salting an icy walkway in winter, or helping advise you on the financial side of your investments.
Read our past blog post on “Is it Time to Hire a Professional Property Management Company?” here.
TAFCO: Providing the Okanagan with Property Management Services Since 1988
With over three decades of experience in the Okanagan commercial real estate industry, we understand each property is unique and would be happy to find a customized, long-term plan for your commercial space. We offer extensive knowledge in the areas of commercial property management, sales, and leasing. With a team with a wide range of expertise, we are up to the task of managing the expectations of clients as well as a large portfolio of clients. Get in touch with us today if you’d like to learn more about how we can help you increase the value of your commercial property.