Now that you’ve bought a prime piece of commercial real estate, you’ll want it to make a profit. Though you can manage it yourself, there are firms like Graham Commercial Real Estate that can do property management of Anchorage commercial real estate. Having a professional management company take care of your properties has several advantages over handling it yourself.
If you want your Anchorage commercial real estate to prosper, you’ll want to be selective about your tenants. Unlike in an apartment, you’re concerned about more than just rent; a commercial location needs leaseholders that can draw in people. However, trying to find and screen all of your potential renters can eat up a lot of your time and effort.
Professional management companies have experience doing this and can make the screening process quick and easy. They can also detect potential problems with some candidates. A trustworthy management company can also ensure a quick replacement when one of your units becomes vacant to continue generating income.
One of the duties of a property manager is to make sure the leaseholder is satisfied with the unit and to repair any damage. For example, if your renter notices that the plumbing is leaking or the wiring is broken, it’s the responsibility of the manager to repair it.
If you don’t want to be constantly pestered by calls about repairs or building changes, hire a professional property manager to do it. They know who to contact to fix it quickly. On your own, you may have to handle other business first before your duties as a landlord.
Hassle-Free Rent Collection
Rent collection is another aspect of a property manager’s duties. The problem with collecting rent yourself is that, as a busy person, you may not have time to do the rent collection on a regular basis or enforce non-payment penalties. Having a property management company do it makes sure that leaseholders have a consistent date of payment. They also have experience dealing with late and non-paying renters. All you have to do is receive the rent from them at the end of month.
Keeping a building running and collecting rent are already stressful duties; however, that’s not the end of your duties. You’ll also need to keep meticulous records for tax purposes and be aware of local laws. A professional property manager can handle all of these for you, leaving you to profit for a slight fee.
(Source: What Is a Property Manager? About Money)