In commercial property management and leasing today, it is important that your landlord services are refined, specialized, and accurate. Too many mistakes can be made when it comes to leasing, rent collection, and vacancy management.
The larger the landlord portfolio, the greater the complexity of service. Get your services to the level where they are relevant to the property types that you serve and the clients that need you.
If you want to differentiate yourself as the industry specialist in property management and leasing, then you should seriously consider the different ways that you can enhance your landlord services locally allowing you to stand out from the competition. Understand the variables of property management reporting, the software to help you control things, and the professional skills that properties require.
There are some clear advantages to be taken from leasing and property management activity in any town or city. Over time, they can both lead to sales opportunities and investment services.
Focus on Landlords
Given that commercial and retail property today is so specialized financially and physically, take your property business to the next level through some definite and direct landlord service improvement processes. You can build your real estate business around property management activity. Look at ways you can connect with the better landlords owning the larger and higher quality buildings in your city. That means delving into precincts and locations. Street by street you will find the best buildings and decide why some buildings are more useful to your real estate ambitions. Tenant mix, development potential, location, and rental structures are some of the bigger leverage points towards better property performance.
Local Property Facts
Here are some relevant and real ideas to help you stand out as the industry expert helping landlords locally with asset performance in both leasing and management:
- Get to know the business community thoroughly and completely so that you can draw on those business relationships when it comes to upcoming property vacancies and lease challenges. Any property broker or agent with a comprehensive database of business owners will always have the local advantage when it comes to leasing and tenant opportunity. That is of great attraction to the landlords that you serve.
- Understand the differences and the pressures that apply to rental, property operational costs, and local vacancy factors. Ultimately the landlords that you work with seek to improve cash flow through careful lease planning, vacancy minimization, and tenant mix optimization. There are some quite advanced and specialized services to provide here within those three unique and special categories. Match your skills and local property knowledge into those aspects of property performance.
- Maintain an acute and accurate awareness of market rental activity for the different property types in your location. Look at the precincts, the buildings, and the larger businesses when it comes to rental payments and lease expiry dates. Any upcoming vacancy for a location is likely to bring about tenancy movement and leasing churn. Create a schedule of lease expiry dates for the different buildings and the different business types.
- The reporting processes behind property performance today should be advanced and comprehensive. The landlords in the property owners that we serve need to know what is happening within a location when it comes to tenancy movement, business activity, and infrastructure changes. You can work with those things when it comes to client and business opportunity. Any change with a location is likely to trigger business movements, tenancy changes, and potentially property sales. Ask the right questions and you will find the right answers to work with.
Simple strategies like these take some real effort. It is not easy being a specialist in commercial property management and leasing but the rewards are many when you apply yourself.