If you own one of Florida's 2679 commercial buildings, you likely are looking for quality tenants to rent to. Whether you're finding businesses to conduct operations in your office space or looking to rent out a warehouse to corporations, it's important to stay on top of your operations to remain competitive.
Commercial property management services are the best way to keep your head in the game. Read on to learn what these experts do, how they can save you time and stress, and what other benefits there are to working with them.
Tenant Management in Tampa, Florida
Commercial landlords have to do a lot of work when choosing tenants. Since commercial leases are longer than residential ones, whoever you choose may be there for five to ten years. You need a tenant that you can rely on to keep your property in good shape and pay rent consistently.
A commercial property manager will perform tenant screening with expert knowledge and tools. This means looking into owner/manager credit scores, criminal backgrounds, and references from past commercial landlords that the business rented from.
Tenant management also means drafting up leases that make sense for each tenant. Property managers will speak with commercial tenants individually and collaborate on leases that everyone is happy with. You won't need to do it all by yourself and worry about future legal issues.
Rent Collection and Management
A property manager will also have a dashboard that lets them manage commercial building rent. When a tenant pays through the secure interface, both you as a landlord and the property manager you work with will be notified. Everyone can also look at the interface to see who has paid vs who is delinquent so that you can focus on collecting the funds you're due.
Property managers will also send out notifications when it's time to pay rent and contact those who are late. You won't need to spend hours arguing with commercial tenants about where your money is.
Commercial Property Maintenance
Commercial real estate managers will also help you with property maintenance. They already have existing connections with maintenance and cleaning crews, so you won't need to hire new people on your own.
Since companies like PMI only work with pre-vetted, highly reputable maintenance crews in Tampa, Florida, you won't need to stress about property damage. This can decrease vacancy rates because property managers will line up maintenance the moment that a tenant departs. The unit will be ready for a new business to take over the space ASAP.
Financial Services
Property managers also take on finance-related tasks such as:
- Budget preparation and tracking
- Financial record maintenance
- Financial report preparation
- Handling taxes
- Giving you, the property owner, all relevant financial information
You won't need to spend time and effort balancing the books on your own, and you won't need to worry about mistakes.
Invest in Commercial Property Management Services
Now that you know the benefits of commercial property management in Tampa, it's time to begin working with a company that aims to help Florida landlords. Our team is excited to offer a wide range of services including tenant screening, rent management, and maintenance-related communications.
Request a free rental analysis from PMI Metrobay to learn the value of your property when it's managed the right way.
