Office relocation can be an exciting time … here’s your chance to learn about new office space for lease in the area or rectify problems that you have with your current location. For example, maybe you aren’t happy with the type of lease you have or perhaps your company’s needs have changed. In any case, there are important questions to ask when you tour office spaces that you’re considering. One of these is whether or not the space comes with the services of a property management company.
What does a property management company do?
Often, a property manager is utilized by owners who are not local to their real estate investment. Or, their commercial real estate portfolio is so large that they can’t effectively manage all of the buildings on their own. Here are a few tasks that a property management company can handle for the property owner:
- Set rental rates based on the local real estate market
- Find potential tenants and execute leases
- Collect rent from tenants
- Manage daily operations and maintenance of the property
- Solve conflicts between tenants or resolve other issues that arise
- Keep the property in compliance with state, local, and federal standards
If you’re thinking that all of these are benefits for the property owner, you’re right. But, having a property management company take care of the building that houses your office space can benefit you, too.
How a property management company benefits tenants
If you’re about to sign a long term commercial lease, you likely care that the building you’re in will be in good condition for at least the term of your lease. This is one area in which having a property management company can make a huge difference.
Often times, the owners of commercial property locations do not live or work in the immediate area. In fact, they could own multiple buildings throughout the country or even the world. Being geographically distanced from their investment properties means they can’t always know what’s happening with them on a daily basis.
As a tenant, you want to have someone you can call if an issue arises. For example, what if the air conditioning system at your office fails to operate in the middle of the hottest day of the year? If your building has a property manager, all it takes is one phone call and they will handle the rest. Some buildings even have onsite property management services, meaning help is close by at all times.
A professional property management company may also be able to save you money while providing top quality service. Since they often manage multiple buildings in one area, they can establish long term relationships with local vendors such as landscapers, pest control specialists, or electricians. These companies sometimes offer volume discounts or premium service to their big customer – the property management company. As a tenant, some of these savings may be passed along to you inside of your lease. At the very least, you will enjoy speedy services when they are needed.
Look beyond the aesthetics of the office space
A conveniently located class A office building with top-notch amenities is a great place to position your next office. But, simply looking at the location and appearance of the space is not enough. If you’re ready for a professional property management company that cares about you and your needs, TXRE Properties is happy to be your commercial real estate partner. Contact us today for a tour of one of our premier office buildings in the Dallas-Fort Worth area!