When it comes to asset management our philosophy is that we care for your property as if it were our own. Our asset managers safeguard your property and act in your best interest ensuring the advancement of your investments securing your future. For your convenience, we have outlined the top 10 Reasons You Need an Asset Manager.
1. Market Expertise
The leasing process is overwhelming as it is let alone ensuring that you have secured a price reflective of the market value. Allowing an expert who understands market pricing to lease out your property guarantees that you are getting the premium price for your asset.
2. Tenant Screening
Tenant relationships are undoubtedly one of the most vital aspects of successful asset management. Ensuring a successful tenancy begins with tenant screening. Allowing an asset manager to recommend tenants and build a relationship of mutual trust and respect allows for professional client relations and a smooth leasing process.
3. Rent/Outgoings Collection & Disbursement
Collecting rent & outgoings can be one of the most challenging aspects of asset management. An asset manager streamlines this process, ensuring timely rent collection and handling any late payments or defaults efficiently. This ensures your cash flow is uninterrupted.
4. Maintenance & Repairs
It is well known that over time properties can depreciate. The role of an asset manager is to mitigate that loss as much as possible and safeguard any losses of your property.
Asset managers have established relationships with reliable contractors and service providers, allowing them to coordinate maintenance and repairs quickly and cost-effectively.
5. Legal Compliance and Risk Management
Navigating the legal aspects of rental properties can be complex. Our asset managers are fully informed regarding tenants’ responsibilities within the lease, and termination processes. This helps ensure compliance, reducing the risk of legal disputes.
6. Marketing and Advertising
Effectively marketing a commercial property is vital in securing a tenant. Asset managers use various marketing strategies, including online listings, social media, and leveraging databases, to attract potential tenants quickly. Their expertise ensures that your property gets the visibility it needs.
7. Time Savings
Managing a commercial property can be a full-time job. By hiring an asset manager, you free up your time and offload the responsibility to a certified professional.
8. Regular Property Inspections
Regular inspections are essential to maintaining your property and addressing any issues before they escalate. Asset managers conduct routine inspections to ensure that the property is in good condition and that tenants are adhering to lease agreements.
9. Tenant Relations and Conflict Resolution
Ensuring good client relations is at the heart of what we do at Parkside Commercial Real Estate. Asset managers serve as an intermediate party, addressing tenant concerns and resolving conflicts efficiently. Their experience in dealing with various situations helps maintain positive tenant relationships.
10. Maximised Property Value
Ultimately, the goal of asset management is to protect and maximize your investment. Asset managers implement strategies to enhance property value, including regular maintenance, timely upgrades, and effective tenant retention strategies. This not only ensures consistent income but also contributes to long-term appreciation.
Investing in commercial property can be a lucrative venture, but it comes with its challenges. A professional commercial asset manager can alleviate much of the stress associated with property management, providing expertise, efficiency, and peace of mind. If you’re considering renting out your asset or are currently managing it yourself, the benefits of hiring an asset manager are clear. By leveraging their skills and resources, you can optimize your investment and enjoy a more successful rental experience.
Please feel free to contact Parkside Commercial for a confidential discussion. Upon appointing Parkside Commercial Real Estate to manage your asset, you can rest assured there is a team of dedicated and experienced commercial property experts working on your behalf to maintain relationships between tenants and landlords while most importantly, upholding the integrity of the asset in every facet.