Commercial Property Management: A Few Simple Points

In this job profession, it is a business service designed to help owners monitor their business properties. A commercial property manager may have multiple jobs, but essentially they are the ones that will take care of the details related to the following:

• Maintenance of the buildings on the property, such as making sure the grass is cut, any necessary repairs are done promptly.

• Check out and qualify potential new tenants who want to rent one of the commercial buildings or stores

• Oversees the leasing of sections of the property, such as retail space in a shopping center

• Collects rent from tenants on behalf of the landlord

Commercial property management involves overseeing any type of commercial property, from multi-story office buildings to retail space. Many times, owners will use a commercial property management company to handle all the day-to-day details of the property’s operation, so the owners have free time for other aspects of the business. The company that manages commercial properties generally has the authority to make decisions that will affect the amount of income the owner receives from their property. Hiring the right management company can often lead to securing the best rental rates for the space and lower tenant turnover.

One thing that is the responsibility of a commercial property manager is to screen potential tenants by accepting their application and then doing a background check. If the tenant is approved to rent a space, the manager will prepare the lease. For the duration of the lease, the manager will ensure that the tenant has all the responsibilities and benefits listed in the lease, including the amount of rent, when it is due, etc.

The commercial property manager will also serve as the liaison between the tenants and the owner. If the tenant has a problem or needs repairs in his space, he will see the manager, who will take whatever steps are necessary to fix the problem or fix what’s wrong. It is the manager’s responsibility to resolve the matter to the satisfaction of the owner and tenant. If the tenant does not pay rent as described in the lease or does something that is not in the lease, the commercial property manager will be responsible for serving the eviction notice. Each jurisdiction or state has its specific regulations regarding eviction. When serving an eviction notice, the manager must ensure that each step of the process is followed to the letter. This ensures that everything is done legally and that the tenant cannot complain about being evicted illegally.

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