What to look for in Commercial Property Management

Track Record of Low Vacancies

One key factor to consider when looking for someone to manage your commercial property is the amount of vacancies the property management company has within the buildings they currently manage.

As an owner looking to maximize profits, low vacancy at your property can make a large impact.

Fully leased properties stabilize property incomes and ensure that the property is a performing asset.

Vacancy rates can also be an indicator of how property management is performing. Higher vacancy rates can indicate high tenant turnover, with unsatisfied tenants vacating the property. While lower vacancy rates can be a sign that tenants are satisfied with the service they are receiving, that they feel maintenance of the property is handled promptly, and issues they report are quickly resolved.

Having property management with strong tenant relations creates an environment where tenant issues are resolved before they escalate to a level that would have an impact on your tenants business and creates a desire to continue to grow in the space they currently occupy.

A property management company with low vacancy rates is a great thing to look for if you desire higher tenant retention and a higher return on investment for your commercial asset.