7 Major Benefits to Using a Property Manager

Why hire a property manager?

Owning commercial real estate can be a very rewarding investment, but oftentimes there is a lot more work involved with ownership and tenant relationships than anticipated. Commercial property management allows you as the owner to minimize your risk and allocate your time spend elsewhere while still maintaining ownership and growing your investment.

There are many benefits to utilizing an experienced property management team for your property, but we’ve narrowed it down to the top 7 major benefits for property owners to consider.

1. Experience and area expertise

Commercial property management is a niche of its own. It takes years of experience to learn how to properly manage a property. This is where utilizing a trained and experienced team will help you protect your investment and give you an edge over the competition. With years of firsthand experience, local market knowledge, hours of training, and certifications a qualified team will bring a lot of value to the table.

2. Rent collection

If you’ve ever been in the position of rent collection, you already know that one task can become daunting and be a huge time investment. A property management company will handle this step for you, handle late fees or evictions if needed, and provide a buffer between you and the tenant.

3. Workflow and time management

In addition to collecting rent, there are dozens of day-to-day tasks needed to keep a commercial property running smoothly. Hiring a team to handle these things on your behalf will free up your time, keep your investment safe, give you as the owner, less stress and more time freedom.

4. Property maintenance

Hiring a property management team allows you access to their in-house maintenance team and their network of established relationships with licensed and bonded contractors who have already been vetted for trust and quality work. This will save you time and money versus trying to hire a handyman or contractor blindly each time a problem arises. Your property’s upkeep is imperative to maintain and grow property value.

5. Legal

Leasing commercial property is not just about collecting rent and handling the property maintenance. There are many local, state, and federal laws that you must take into account. An experienced property manager will have in-depth knowledge of the legal aspects related to your property to ensure you abide by the laws and protect you from any potential lawsuit.

6. Tenant communication

In addition to collecting rent, delivering notices, performing property inspections, and handling maintenance requests are among some of the tenant communication provided by a property manager.

7. Property marketing

Knowing where and how to advertise a property is another strength of a property management company. Attract higher quality tenants, have shorter vacancy cycles and allow for the company to provide screening of applicants to ensure your property is in the right hands.

Working with our team

JMI Group (previously JMI Property Services) specializes in all aspects of commercial property. Property and entity management are among some of our greatest strengths. Our years of experience as property owners ourselves gives us an in-depth and unique understanding of the interests and goals of an owner. Our team makes it a priority to stay on top of the market trends throughout Southern Utah so you can trust that our knowledge and experience will provide your asset portfolio with the greatest degree of protection.

If you’re interested in investing in commercial real estate or already own property, come and talk to our team about what property management can do for you.

Originally published September 30, 2019 on jmips.com. Figures reflect the portfolio at that time.