One thing that is a common problem in commercial property management is in getting the work done. It seems all too common that property managers are ‘swamped’ with extra properties to make up the ‘income base’. That strategy then overlooks the requirement for quality services and ongoing client growth.
The secret to success in commercial and retail property management is in not letting ‘low fees’ enter the business. There is no point in managing commercial or retail property if the quality of the service is low and or if the fees are ‘undercut’ simply for the sake of winning the business.
Fair and Reasonable Fees
Charge a fair fee for quality service and pitch your ideas through that idea. Don’t be generic. It is better to have a good quality property management business than one that is ‘discount based’.
Growth and change in commercial property management should be all about:
- Expansion of services for existing good quality clients
- Control and progress in managing properties the way the client requires
- Improvement in property performance and stability
- Making headway with tenant quality and lowering vacancy factors
- Development of a ‘quality control system of management’ for your clients
All of these things have nothing to do with ‘undercutting fees’.
Next Level Services
Help your clients understand the value of quality services and property control. Show them how the fees charged will give a level of service that will help them take their property investments to the next level of performance and reduce risk. That is how you win new property management business.