June 20, 2019

How To Choose the Right Property Manager

After you find the right commercial property for sale and get the deal closed, you are officially a commercial real estate property owner. You will have new opportunities as well as new responsibilities to take care of. It doesn’t matter if you own office space real estate or a warehouse, you will need to find someone to manage your commercial property. Finding a great property manager after you close on commercial property for sale is absolutely essential. Choosing wisely can help you protect your investment and keep your tenants happy while choosing poorly can lead to problem after problem. That’s why we’ve prepared the following article that details how to choose the right property manager for your commercial property.

1. Licenses and Certifications

When you are evaluating your choices for your property manager, you should try to confirm if they have the appropriate licenses and certifications. It’s common for states and municipalities to require property managers to have a current and valid real estate broker’s license or a license that allows them to manage a property. Without the licenses, you should move on to the next candidate.

2. High Performer

Being a property manager means choosing an individual that will be protecting your investment and helping the property run smoothly. You want to hire a property manager that you know will be consistently performing at a high level. It’s a good idea to interview several different property managers and property management companies to get a sense of their knowledge level and commitment to excellence. You can look at the current properties they are managing for additional insight as well.

3. Likeability

Keep in mind that you will be working with your property manager on a regular basis. If they are someone you don’t really like or someone that you constantly try to avoid talking with, they probably aren’t the right choice. You want someone that is likeable and responsive so that you can ensure your property will be in good hands. Additionally, if you have tenants, you want a property manager that will be able to deal with their needs in a professional and friendly manner.

We hope this article has provided you with some great insight into how to choose the best property manager for your office space real estate or commercial property. Remember to reach out to the Rakow Group if you are seeking the best commercial property for sale on the market.