Is commercial property management worth it?
Using a commercial property management company, is it worth it?
To summarise, using a commercial property management service is absolutely worth it.
Providing you find a quality commercial asset manager with a great fee structure, handing the reigns of management over is worth every single penny. Every issue, renewal, arrears chase and utility query is taken care of and with knowledgeable managers, your commercial property will be operating at prime efficiency. Making life for both yourself and tenant much happier.
Should I self manage my commercial property?
Typically, self managing a commercial property is most useful if you are owner occupying another space or property with close proximity to your commercial property, otherwise we’d recommend using a managing agent.
Self management of commercial property can easily wind up in a very stressful and complicating situation, where even simple rent collection proves difficult and troublesome. Using a commercial property manager can simplify every process and action with your property, and often for a fairly small fee.
What is the fee for commercial property management?
Commercial property managers typically charge between 5% to 10% of the annual rent of a commercial property.
Fee structures vary indefinitely on what work is involved and the time and resource in which must be allocated to a specific property. Some agents charge more and offer exponentially more service, others may offer just rent collection and renewals but charge a lower fee. It is always best to discuss your needs and properties with your commercial manager before they can advise on assisting.