Commercial Property Management Companies
What is a commercial property management company?
Put simply, a commercial property management company is a organisation who takes responsibility from a property owner – for a fee, to oversee the property, maintain and adhere to regulations and laws, liaise with tenants and collect rent as well as contractors for upkeep of the premises.
Typically, a commercial property management company will specialise in a select few sectors of the commercial market. At Shepherd Commercial, we manage the main core of retail, office and industrial portfolios. Some large commercial property management companies specialise in management of one client only or one market such as office.
Ultimately, it depends on how competent a commercial property management company is. Every commercial asset management firm is seeking efficiency, transparency and high communication. These 3 key targets ensure a commercial premise is being managed and maintained to it’s highest level and providing positive economic conditions to both tenant and landlord. Communication ensures efficiency and transparency ensures smooth running of day to day ongoings.
Where are commercial property management companies based?
Standard practice, is that a commercial property management company should be located within transportable distance to the asset. This is not the rule, but typically, property owners want their managers close to the asset to ensure efficiency and knowledge of the premise and the market its situated in. Inspections are easier if the management company is close to the property and communication with tenants can stretch further than email or phone call
What do commercial property management companies charge?
Usually, commercial property management companies charge between 5% and 10% of the headline rent of a property. More information on charges is found at our blog – How Much Do Commercial Agents Charge?
Who are leading commercial property management companies in the West Midlands?
Can I manage my own commercial property?
Management of your own commercial property is quite standard in todays world with basic assets such as a single office or retail unit. Many owners who choose commercial property management companies do so for reasons such as time, stress and low fees. Management companies also tend to include services such as renewals, reviews and insurance policies in there management approach.
Privacy is another reason landlords choose to instruct a commercial property management company. Disputes, communication, rent collection and negotiation are all dealt with by the managing agent and landlords can dictate decisions from a back seat.
More info on commercial management services.
Call us on 01564778890 to see how we can help in Birmingham, Solihull, Coventry and the Midlands