4 Crucial Roles of a Commercial Property Manager You Need to Know
Commercial real estate investing is not only about increasing your rent periodically so you can increase your bottom line. You also need to efficiently manage or even reduce your operating expenses over the years. How do you achieve that? Through partnership with a commercial property manager—someone who is trustworthy and who cares for your property as much as you do.
Choosing your landlord or property manager is crucial because you need someone reliable who can do the heavy lifting in maintaining your property. You need to know the different responsibilities of a landlord in order to choose the best property management team.
4 Main Responsibilities of a Commercial Property Manager
1. Keeping your property safe and clean
The landlord is responsible for keeping a safe and clean environment for people to live in (if multifamily) or run their business. He/she keeps the property free of trash and well-maintained. Having boots on the ground ensures that repairs are made quickly and efficiently—no broken windows, unsafe stairs, or loose electrical sockets.
2. Networking with service providers for property maintenance
A landlord should also make sure that he/she has a pest control service come out at least once per year to inspect any potential issues which could lead to infestations like rodents or mosquitoes. He/she also contacts the professional carpet cleaner who needs to come to the property at least once a year. Professional carpet cleaners remove odors from pets, smokers, or mold spores that can lead to more serious health problems for tenants down the road.
3. Ensuring that your property is in compliance
Your landlord also ensures that your property complies with all local building’s safety codes. He/she monitors that all fire alarms, smoke detectors, and carbon monoxide detectors are working properly. In compliance with the safety codes, your landlord also posts emergency numbers in an area that’s easily accessible to your tenants. In case of emergency, he/she makes sure there’s a good way for your tenants to exit the building. On top of this, your landlord ensures that any hazards such as broken windows or leaky pipes are removed.
4. Fixing property issues after annual inspections
In most counties, commercial property is required by law to undergo routine inspections. Your landlord will facilitate in addressing any issues found after an inspection as soon as possible before they escalate into something worse. If not resolved, it could result in paying hefty fines and penalties to regulatory agencies such as OSHA.
If you’re a commercial building owner who’s looking for guidance on what your obligations are to provide a clean and safe environment for your tenants, reach out to us here at Trajan CRE and we’ll be happy to help. It all starts with a conversation.
