Does the thought of having a property management team handle your commercial investment bring about cold sweats, and a slightly rational fear of letting go? If you’re on the edge about hiring a property manager for your commercial property, here are 3 things to help you let go and start the Property Management hunt.
1.) You Can Stop Being the ‘Bad Guy”
As a landlord you must protect your investment and handle each and every tenant issue fairly – and this means you have to be the bad guy a huge majority of the time. Tenants pay their rent late; you must charge a late fee – maybe they want a full HVAC replacement but you know that is not in their lease contract, maybe they’ve placed business signs that look awful. With a Property Management team handling all tenant relations it removes the guilt of having to be the ‘bad guy.’ Your PM can now enforce the policies you support – and take a load of the stress off your shoulders – this can allow you to focus on further investments or just enjoy your time off!
2.) It Allows You to Easily Invest In Different States
Maybe you’re looking to invest in the hot Las Vegas market, but you live in Tennessee? Having a property management company you trust allows you to branch out with your investments and not limit yourself to one local region where the market might be stagnant. It also gives you the flexibility of travel and vacation while knowing your property is under control. Here at Cambridge we have online portals for all of our Landlords – this means you can access your property’s, check on finances and see an overall picture of your center from where-ever you’re located!
3.) You Won’t Have to Stress About Leasing Anymore
Vacancy is likely the biggest hindrance to your property being as successful as possible. With a Property Management company handling your center the anxiety of posting your vacancy to multiple sites is relieved as well as the process of weeding out unqualified tenants. Without a thriving and full center of successful and strong tenants; your property loses value year by year – don’t let the pain of leasing hinder your centers success!