What is Commercial Property Management

What Does a Commercial Property Manager Do?

Commercial property managers oversee the day-to-day operations of buildings and complexes, such as malls or office parks. Their duties typically include collecting rent, negotiating leases and supervising cleaning and maintenance activities. Commercial property managers may also process payrolls or pay insurance, mortgage and tax bills. 

Property managers of commercial spaces keep meticulous administrative and financial records, and keep all applicable maintenance, taxes, mortgages and insurance updated. They ensure rent is collected, and respond to tenant needs and issues. Managers also provide regular reports (ie. occupancy, rent roll, and budget) to the property owner, providing regular updates on how the productivity of the investment.

A commercial property manager is an asset to any property owner who does not have the time or experience to market or manage their commercial real estate property themselves. Professional property managers are becoming more common for investors who are either too busy or simply not interested in the challenges of managing a property.

Duties and Responsibilities 

Rent and Fee Collection

Reliable payment and collection of rent is the cornerstone for a thriving commercial property. When payments fall behind, you must have a dependable, stress-free method of assessing and collecting late fees. An Evanco commercial property manager will carry out all rent- and fee-related tasks for each of your current tenants. Areas we cover include scheduled billing and rent collection, timely fee collection and legal notifications for payment problems that could lead to lease termination.

‍Rule Enforcement

All tenants of commercial rental property sign a contract explicitly agreeing to follow the terms, provisions and conditions outlined in their leases. Enforcement of the agreed-upon rules is critically important for smooth day-to-day operation of that property, as well as the property owner’s peace of mind. Evanco provides ongoing monitoring of rules adherence by each individual tenant. If and when a rule is broken, we follow up with appropriate, case-specific enforcement efforts that protect your rights and investment. 

Oversight of Service Contracts

The quality of the services provided by contractors and vendors can make a huge difference in the daily operation of your commercial rental property. We support your goals in this important area with continuing reviews of each vendor/contractor working for you. Our long affiliation with top local vendors also makes it possible for us to hire trusted providers who share our emphasis on quality and value for money spent.

Bookkeeping

For many business owners, bookkeeping is one of the most daunting and unpleasant aspects of owning commercial rental property. While we all understand the importance of keeping impeccable books, the potential for legal liability for fiscal mistakes and oversights is stressing. In addition to keeping track of receivable rent and fees, we provide you with detailed monthly reports that clearly outline the itemized expenses associated with each of your properties. 

Rental Unit Preparation and Inspection

Your prospective tenants typically will not sign a lease unless the vacant units you show them are in appealing, functional condition. At Evanco Realty Advisors, we perform a thorough preparation process to ensure that the units you have available make a good first impression. In addition, we perform detailed weekly inspections to make sure that all of your vacant and occupied spaces meet current regulations for safety and sound mechanical operation (utilities, etc.).

Types of Commercial Businesses 

RETAIL

For retail establishments, it is easy for owners to get inundated with the day-to-day management of their retail operations. Property owners can enlist professional rental management services to ensure that the needs of their property are not neglected or overlooked, and that the property retains its value and future marketability. 

OFFICE

Office space is a hot commodity for small startups and larger businesses alike. Commercial properties ideal for office spaces can be broken up into small areas for rent or offered as a whole. Expanding businesses may want to start by renting a small space, and grow into a larger office floor or building. Flexibility is key in office spaces, in part because tenants may want to bring their own dividers and systems for breaking up the space. Our commercial property managers quickly alleviate the issues that most commonly arise in an office park setup such as tenant management, rent collection, accounting, problem resolution, common maintenance area management, collections and evictions. 

INDUSTRIAL

Evanco property management comes with a wide array of requirements which go above and beyond what is necessary for a regular office or retail property lease. These are only part of the reasons you need property management professionals who can ensure you are getting the most out of your industrial property. 

MEDICAL FACILITIES

Dentists, doctors, chiropractors, dietitians, and therapists and psychologists are all common renters of medical office spaces. Requiring a special set up, medical office space and buildings often include a large number of exam rooms as well as waiting rooms to attend to patients. Depending on the practice, each exam room will require cabinet space and a sink. Medical office buildings and spaces may be rented out by individual doctors or by a group of healthcare specialists that share a practice.

No matter the type of property you own, you can count on the experts at Evanco Realty Advisors for the very best in full-service commercial administration. We provide everything you need to minimize your ownership workload and maximize the return on investment for each of your commercial properties. We provide peace of mind to owners, implement excellent property management services that enhance value for landlords.