Hiring a property manager brings marketing expertise, tenant relationship skills, market knowledge, established resource networks, maintenance management, legal and regulatory know-how, and time savings to your investment experience.
When you choose SVN | Saunders Ralston Dantzler as your property management team, you’ll benefit from the knowledge of over 25 advisors that specialize in:
- Marketing Expertise
- Tenant Relationship Skills
- Market Knowledge
- Established Resource Networks
- Maintenance Management
- Legal and Regulatory Know-How
- Time Savings
1. Marketing Expertise
One of the benefits of hiring a professional property manager is the marketing and advertising expertise they offer. Being prepared to take an available property quickly to market requires a significant investment of time and energy. Especially for digital channels like Google, tenants will search for space and establishing a solid presence that is discovered through search results doesn’t just happen overnight. Vacancies need to be filled as quickly as possible, so utilizing a property manager’s promotional platforms is wise. Good property managers will have a marketing infrastructure in place to promote your property to target those who have already expressed interest in leasing in that area.
2. Tenant Relationship Skills
As a property owner, dealing personally with tenants can create relational difficulties that can be avoided by hiring a property manager. Professional property managers have systems in place to ensure that you get paid in a timely manner without hassle or awkwardness. Many tenants also feel more comfortable dealing with a property manager as they are ensured a more professional experience as well. Good property managers will ensure that both parties are adhering to agreed-upon lease terms, reducing stress for all involved.
3. Market Knowledge
Good property management companies will ensure that you get the highest market rate possible while minimizing vacancies. Good property managers will have the skills to assess the market and its implications for your situation. As an owner, your perception can be biased based upon emotional connections you may have to your property or investment. Seeking external assessment is vital. Because property management companies often manage multiple properties within a single market, they can assess value based on economic data as well as real-world experience. These are great benefits to you as pricing your property incorrectly can lead to extended vacancies.
4. Established Resource Networks
Commercial real estate property managers have vast resources of industry relationships that they have formed over the years. This gives you immediate access to vetted, trusted, and dependable contractors, tradesmen, suppliers, and maintenance workers. Using a property manager produces savings in both time and money when you need to make repairs or perform maintenance on your investments.
5. Maintenance Management
Maintenance and regular inspections are key in maintaining a good relationship with the tenant as well as preventing bigger, more costly issues later down the road. An experienced and well-educated property manager will ensure that the property is well-cared for and will protect your investment.
6. Legal And Regulatory Know-How
As an avid investor, you have a lot of things on your mind. Trying to navigate through all of the legal regulations of commercial real estate can be stressful and time-consuming. Hiring a commercial real estate property manager reduces your risk and exposure to costly errors. Good property managers will keep your properties up-to-date and compliant with current regulations.
7. Time Savings
Having a property manager is crucial to freeing up time you would otherwise spend performing the day-to-day tasks of managing investment properties. This leaves more time for you as an investor to focus on other investment opportunities or pursuing other interests.