4 Ways A Property Management Company Can Help Landlords
JMK Property Investment, a commercial property manager in Miami Beach, has years of experience managing properties. Our goal is to help commercial landlords by taking care of their property and reducing vacancy rates. Whether you live near or far from your property, rest assured that it is in good hands. We keep an eye on your property on a daily basis to ensure it is in top-notch condition. We also maintain tenant relations, oversee repairs and maintenance, and provide financial services like budgeting and monthly operating reports. We win over landlords by our years of experience in the industry and our transparent communication. At JMK Property Investment, we are so confident in our services that if you are not satisfied after 60 days, we will provide you with a full refund. Read on to learn about 4 ways that a property management company like ours can help landlords with their commercial property.
Keep an Eye on the Property
First and foremost, we keep an eye on your property each and every day. Many landlords own investment properties around the country and may not actually live in Miami. This means that they are unable to frequently check in on their property. Rest assured that your property is being well taken care of by JMK Property Investment. We are constantly monitoring your property to be on the lookout for preventative maintenance needs, unhappy tenants, or necessary repairs. A property management company won’t let the needs of your building be ignored just because you live out of town.
Maintain Tenant Relations
Another way we help landlords is by maintaining tenant relations. The easiest way for your commercial property investment to fail is by having periods of vacancy. Our goal is to reduce vacancy time by maintaining positive relationships with tenants so that they don’t want to leave. In addition, we will strategically market the property targeting potential future tenants in need of a space. Through maintaining positive tenant relations and aggressively marketing to new tenants, we keep the vacancy rates low. In addition, once we find interested tenants, we go through a careful selection process to make sure only the highest-quality tenants are occupying the building.
With current tenants, the two main goals are to keep them happy and to make sure we are collecting their rent on time. To make rent collection easy, we have an online portal where they can log in and pay each month. We are strict about rent collection and will quickly follow up with a phone call or visit if a payment is missing. In a worst-case scenario, we will help you take legal action against a tenant who refuses to pay rent.
In addition to collecting rent, we maintain positive tenant relationships by being on-call and available to help 24/7. This is very reassuring to tenants. It is beyond frustrating for tenants to email or call a landlord or management company and not to hear back for days. We will respond immediately to any needs, whether it’s a tenant who is locked out or a bathroom that is flooding late at night.
Repairs and Maintenance
At JMK Property Investment, we oversee all repairs and maintenance needed at your commercial property. Landlords are busy, and many live out of town. It is not feasible for landlords to know about and take care of every necessary repair at the building. As your commercial property manager, we will frequently inspect your property to be on the lookout for things that need repair or areas where we can do preventative maintenance. Since we have been in the business for years, we know many high-quality, competitively priced contractors and suppliers to do these repairs. When we take over a property, the expenses in regard to repairs and maintenance generally are reduced. Preventative maintenance is performed as needed in areas such as the roof, HVAC systems, and parking lots.
Last but certainly not least, we provide financial services to our landlords. We have state-of-the-art management software that can be used to create customized financial reports. A monthly operating report will be created, including a narrative, income/expense statement, balance sheet, budget comparisons, and variance analyses. Also, we provide valuable tenant information, such as rent rolls, tenant activity, and aging reports. In addition, we can help with other accounting information, such as the check register, general ledger, and bank reconciliations. We also take care of annual budgeting, which is extremely helpful to landlords. The budget contains information about property income and operational costs. The budget will help landlords with annual decision-making when it comes to investing more in their property. Financial reporting is critical to commercial property landlords. Instead of having your accountant do all your monthly reports, we are here to take on the duty.
Commercial property landlords have a lot of responsibilities on their plate. From worrying about collecting rent to making repairs, there is a lot to think about. Many landlords also own multiple properties, either within Miami or around the country. It can be challenging to take care of all the day-to-day tasks on your own! This is where a commercial property manager in Miami Beach, like JMK Property Investment, comes into play. We will help take care of the daily operations of your property. We maintain your tenant relations and make sure that any vacant units are quickly filled. In addition, we keep track of preventative maintenance and get things repaired in a timely manner. Our preexisting relationships with contractors and suppliers will greatly reduce repair and maintenance expenses. We also provide financial services, such as producing custom financial reports, providing monthly operating reports, and creating annual budgets for your review. If you are a commercial property owner and ready for a better management solution for your buildings, contact JMK Property Investment today.