Owning a commercial property is a serious business; therefore, you want to maximise your return on investment and secure tenants that will help you achieve this. The best way to do this is to hire an experienced commercial property manager who is knowledgeable in the industry and can offer sound advice throughout each tenancy. 

But knowing how to select a good commercial property manager is easier said than done! So we’re helping by sharing some of our knowledge gained by experience in the commercial property management sector below, with our top questions or things to look out for when selecting a property manager. 

How much experience do they have? 

When it comes to commercial property management, experience is everything. You want to choose a property manager who is not only qualified but has done the work to prove it. Preferably, your property manager will have at least 3 or 4 years of industry experience but more specifically, you want to know if your property manager has experience in the commercial sector and not just residential. 

This is because managing commercial properties is vastly different to managing residential properties. For example, tenants of commercial properties often have longer lease terms and are allowed to make structural changes to the property, whereas residential lease agreements are usually shorter, and many changes are restricted by the preferences of the landlord. 

Do they understand legislation and requirements?

A good commercial property manager will always have an exceptional understanding of legislation and requirements to ensure you can be a great landlord. By having a property manager that understands these, you can feel confident that you’re following the correct procedures and that your tenant is also being looked after. 

How often will the manager inspect the property? 

It’s important to ask your property manager how often your property will be inspected to give you peace of mind that everything is being looked after, and that you don’t have to intervene. Generally, your property manager should be carrying out routine inspections every six months as well as an ingoing and outgoing inspection. In addition, the property manager should also ensure all essential safety measure checks are carried out and that your property is compliant each year.  

What added value will the company provide?

Perhaps one of the most important questions you can ask your property manager is: What value will you provide? Why should I choose you over someone else? When choosing your commercial property manager, it’s a good idea to choose a company that fits your property perfectly. Perhaps they only specialise in property management and not sales, or they might even have superior knowledge of the area your property is in. 

At Release Property Management, we only offer property management services, meaning we are able to provide a better, more focused service for our landlords. In addition, we have been working in the Geelong area for 14 years, establishing ourselves as Geelong’s leading property management company. 

Do they know their product? 

Finally, a good commercial property manager will know their product and be able to adapt their services depending on the type of commercial property they’re managing. Commercial, retail and industrial properties all require a different marketing and management approach, and your property manager should know what approach to take for each property. In addition, each type of commercial property has different equipment, for example, roller doors, signage, bathrooms and more. Due to this, it’s important to hire a property manager that understands the requirements of these. 

At Release Property Management, we specialise in Commercial Property Management and are passionate about maximising our client’s return on investment by matching them with trustworthy tenants. For more information, please get in touch.