What Does Commercial Property Management Mean and How Can It Help My Investment?
If you’re a new property owner, the prospect of effectively developing it for commercial purposes can be overwhelming. In many ways, commercial property management is a very specialized field. To succeed, you need a breadth of knowledge of both the area and its ever-changing market, as well as a high level of commitment to timely and unparalleled customer service. To maximize your investment, a commercial property manager will be a significant asset to your success. Look no further than JMK Property Investment, leaders in commercial property management in Miami.
WHAT IS COMMERCIAL PROPERTY MANAGEMENT?
Property owners use commercial properties for any non-residential business, such as offices, retail stores, shopping centers, or storage facilities. When you sign with a commercial property management company, you can expect them to be real partners in your business. While you are the building owner, they will be responsible for all day-to-day management of the building and its tenants. Responsibilities include screening tenant applications, maintaining the property, and coordinating any necessary repairs. A commercial property manager will also take care of all rent collection and provide you with regular financial reports and updates.
At JMK Property Investment, we know you’re busy. Maybe owning a property is your side hustle, or perhaps you have aspirations of owning more than one property. Our goal as commercial property managers in Miami is to free you up as much as possible, so that you can continue to achieve your business goals. By providing you with one-stop service and sound industry expertise, we’ll help you maximize your investment and develop a vision for your future as a property owner.
One of the most significant ways a commercial property manager can add value to your investment is their financial knowledge and monitoring capabilities. Most companies utilize state-of-the-art software technology that provides an in-depth look at how your investment is performing. You can even work with our team to automatically set aside money each month to cover taxes and insurance. When you partner with a commercial property manager, you can expect regular reporting, such as:
- narrative (the vision and goals you have for your investment)
- balance sheet
- budget comparisons
- variance analysis
- tenant accounting information, and
- copies of monthly paid invoices.
Having this extensive accounting data generated and managed by a commercial management company will be of great benefit to you in the future if you strive to own multiple properties or want to sell your building to another buyer. JMK Property Investment customizes our financial reports to the client’s individual needs and goals. We also utilize our comprehensive analysis capabilities to help you discern how to move forward with your development.
In addition to financial reporting, a property management company will also use its software to coordinate the day-to-day cash flow with your tenants. You won’t have to worry about collecting rent or keeping on top of late fees. With online portals for tenants and other automated processes, a property manager will take care of everything for you, maximizing efficiency. You can have peace of mind knowing that your finances are being taken care of this way.
TANGIBLE TENANT SUPPORT
We all know the adage: time is money. Suppose you have to spend extensive amounts of your time managing the day-to-day responsibilities of your properties. In that case, it’s safe to say you’re not maximizing your investment to its most significant potential. As the main point of contact for your tenants’ needs, a commercial property management company will save you time and money.
From managing tenant application screenings to being available for tenant feedback, it can be time-consuming and emotionally difficult to handle each of your building’s occupants effectively.
If you’re in Miami, JMK Property Investment wants to do that heavy lifting for you: we pride ourselves on our reputation for exceptional customer service–for our property owners and their tenants. We’ll work with you to find the right tenants for your building and then offer professional and competent service to those tenants throughout their lease. If they have requests or need repairs, we’ll be there. If they have questions or complaints, we’ll field them with a smile. You won’t have to worry about lost income due to high tenant turnover with this kind of care.
COMMERCIAL PROPERTY MANAGEMENT MAINTENANCE
Another crucial part of the support offered by a commercial property manager is maintenance administration. When something in your building requires repair, it’s imperative to address it efficiently and effectively. However, if you own multiple properties or have other commitments, it may be challenging to coordinate prompt and exceptional service. Unfortunately, this could significantly damage your reputation as a property owner.
When you partner with JMK Property Investment, we’re equipped and ready to respond to any repair request. In addition to our expertise as property managers, we also hold general contracting licenses in Miami. With frequent and regular inspections, we’ll be able to spot potential problems immediately–and address them before they become larger issues. As leaders in commercial property management in Miami, we’ve also cultivated vital relationships with phenomenal service companies throughout the area. We can quickly provide your buildings with cost-effective and competent updates.
COMMERCIAL PROPERTY MANAGEMENT IN MIAMI: WE WORK FOR YOU
Without a doubt, investing in a commercial property manager is one of the best things you can do for your new property. The day-to-day management of each building on your own can bog you down. Instead, a commercial property manager will bring industry expertise and a commitment to customer service to your partnership. A commercial property manager will execute the vision you have for your property, allowing you to keep dreaming of and developing your larger property goals.
JMK Property Investment wants to help you maximize your ownership. With state-of-the-art technology and client care, we’ll bring unmatched value to your investment. To learn more, contact us today.