FROM OUR PROPERTY MANAGEMENT TEAM
Owning commercial property can be a great investment option. It offers more diversification than residential property investment, generates greater returns, and, in South Australia, there is no stamp duty on transactions.
Whether clients have one or multiple properties in their portfolio, these are three top reasons why commercial property investors seek property management services.
If you are not an owner-occupier, you will need tenants to help fulfil your investment goals. Ensuring your tenant’s business and your property are the right fit (and mix, if you’ve got multiple tenants), navigating the intricate nature of lease terms to suit both you and your tenants, and enforcing those terms can be time consuming, complex, and awkward.
Experienced commercial property managers won’t feel the pressure to fill a vacancy as quickly as possible when working with a reputable leasing agent because they know that the right tenant is better than any tenant. By acting as intermediary and negotiating favourable lease terms, many tenant-related risks can be mitigated. This reduces hassle and puts a buffer between you and your tenant while maintaining your relationship.
There are a range of legal, safety and compliance requirements that will apply to the properties in your portfolio, differing depending on the type of building or tenancy space. Understanding your responsibilities and duty of care as a commercial property owner and maintaining your building to appropriate regulations can be overwhelming, and costly if errors are made or legal requirements not fulfilled.
Through careful planning, budgeting, and inspections our commercial property managers will ensure your property is compliant and running at optimal performance without the surprise of expensive repairs.
Not having the time to self-manage your property portfolio is understandable, especially if you have a job, other businesses, investments, or commitments. Adding the day-to-day running of the portfolio, managing maintenance issues, interacting with the tenant, and ensuring compliance restricts the time you have in focusing on what you do best.
Engaging a commercial property manager to manage your portfolio means you can free up your time to spend on other commitments or investment opportunities. Having access to advice backed by industry experience, networks and processes established within the company, and accurate and regular financial reporting on your portfolio will ultimately improve your bottom line.
While investing in commercial property may bring more risk than residential, it also brings more reward. And it doesn’t have to be hard or time consuming. Teaming up with an experienced commercial property manager removes the stress when it comes to tenant management and building compliance releasing you to focus on your other commitments or investment opportunities.
If you’d like to talk about the management of your property portfolio, leave us your details and we’ll give you a call.