Property Management Companies

April 10, 2012

For property owners, San Diego commercial property management companies may be a dream come true. Real estate property management companies will add value to the property by ensuring maintenance and upkeep are performed in a timely manner and by overseeing the general condition

of and activities related to the property.

In addition, property management companies will list and show the property to prospective tenants, perform pre-rental background checks and reference verifications, and manage tenant relations. For the busy property owner, a property management company will lift the burden of owning and managing rental property, and will make sure that the chosen tenants pay rent. Property management companies will ensure that tenants or others do not damage the property owner’s investment, and will work to increase revenue generated by the property.

Does the Size of a Property Management Company Matter?

The company size of commercial property management in San Diego varies, from a one-person office to a large corporation. Some real estate practices also offer property management services. A larger company may offer additional perks to the landlord, as well as to tenants. For example, larger firms may offer tenants the ability to pay their rent online. Larger companies may offer landlords the option to manage their accounts and keep up to date with the property via an online account. However, smaller property management companies may offer great customer service and may work harder for the property owner’s business. Research several property management companies, and the services they offer, prior to selecting the company that is right to manage your property.  

What is the Function of a Property Management Company?

Owners of commercial property in San Diego often do not have the time or resources work toward increasing the value of their rental properties. Property management companies will work for the property owner to increase revenue generated from a property, while decreasing expenses. Rental management agents will work for the property owner to increase the overall value of the property. Whether this means taking steps to increase occupancy, or ensuring that the property is well maintained to increase sale value, a property management company works for the property owner with their best interests always in the forefront. 

Property management companies are usually experienced in the issues surrounding rental property management. Often, property owners are not accustomed to or comfortable with handling issues that may arise with tenants and rental properties. One specific example is dealing with the tenants who do not pay their rent on time, or at all. San Diego commercial property management companies know the legal steps that can and sometimes must be taken to remove the tenant from the property. Property management companies will increase the chances of renting the property to excellent tenants. A good property management company will be able to sift through rental applications and select the best tenants for your property.  

Excellent tenants will:

* Fulfill Lease Agreements
* Rent the Property Longer
* Pay Rent On Time
* Cause Fewer Problems
* Cause Little, If Any Wear and Tear or Damage to the Property 

In addition to tenant relations, property management companies will pay bills associated with the property, such as utilities, lawn maintenance services and other vendors. San Diego commercial property management companies will also provide the property owner with annual, as well as monthly financial reports. A property management company will also determine the market value in terms of rental rates for the property. The company will instate rent increases, when appropriate, and will negotiate leases and lease renewals.

How Do Property Management Companies Get Paid?

Companies specializing in commercial property management in San Diego usually charge a percentage of the rent they collect to manage the property. This percentage may vary depending on the company. The more responsibilities that are offloaded onto the management company, the more the percentage may be. While researching the property management company that is right for your situation, make sure the management company’s charge is discussed. In addition, make sure you understand the exact tasks that will be performed by the company. Compare rates and services of the companies you research and select the one that best fits your needs.  

To find the right property management company, research your options, ask the right questions and become an informed consumer with regards to the services offered by the management company. A good property management company can be a dream come true for a busy property owner. 

Source: Property Management Direct

 

DISCLAIMER: This blog has been curated from an alternate source and is designed for informational purposes to highlight the commercial real estate market. It solely represents the opinion of the specific blogger and does not necessarily represent the opinion of Pacific Coast Commercial.