Property management should be the first thing you think about after you purchase a commercial building. A professional who provides this service will ensure daily operations of every property affiliated with you are handled efficiently and correctly. When you hire a manager, they will help you make the most of your real estate investment and take many essential jobs off your hands.

5 Tasks Handled by a Property Management Company

Rent Price Calculation

Your primary role as a commercial real estate owner is to gain profits from your investments. The best managers have accreditation from the Appraisal Institute, a worldwide association of real estate appraisers. They will use their knowledge to set rent prices, collect payments, and evaluate the market for adjustments when necessary.

Tenant Management

A property manager is responsible for creating marketing campaigns to reach out to potential tenants. They also screen the qualifications of prospective renters and arrange background checks.

Implementation of Legalities

Tenant contracts, leases, and other legalities are the responsibility of the property management company. On occasion, the manager might contact you regarding new leases or ask you to sign other documents related to your building.

Repair & Maintenance Oversight

Tenant concerns are the responsibility of the building's manager, although they will need permission from you to allocate funds for repairs and scheduled maintenance. A property management professional can advise you on creating a budget to prolong your building’s life span and maintain its marketability.

Individual Property Accounting

As part of their all-inclusive services, taxes and bookkeeping for your property are the responsibilities of the manager. They will oversee expenses and ensure your building operates within your appointed budget.

If you have commercial buildings in Monroe County, NY, and are struggling to oversee them alone, Galvin Realty Group in Rochester can provide comprehensive property management. They have been offering estate planning, asset management, and other estate maintenance services since 1987, so you can rely on their expertise. Call (585) 546-1290 to schedule a consultation or make a request online.