Managing an apartment building is no small task. From finding reliable tenants to dealing with repairs, there’s a lot of work and industry knowledge required. Hiring a commercial property management company like Classic Maui Properties in Pukalani, HI, to handle the property on your behalf is well worth your while. Learn what a property manager can do for you and what benefits to expect from their services.

A Guide to Commercial Property Management

Services They Provide

Property managers communicate with tenants on your behalf. This includes advertising and showing the available apartments, screening potential tenants, signing contracts with them, and collecting rent each month. If the tenant experiences any problems with the property, they will contact the manager, who is available even during non-office hours to address their concerns.

Managers oversee maintenance and repair of the property by connecting with contractors, supervising their work, and arranging for insurance coverage. They will provide analyses and reports to help you make decisions. This includes analyzing current market rates to recommend a rental amount and providing status reports of the property and its income.

The Benefits

In addition to the time and headache that they save the property owner, management companies provide a few other key benefits. First, they increase the revenue by analyzing appropriate increases in rent, ensuring that tenants make payments, and reducing the property’s operating expenses. Second, they increase the property value over time by keeping up with appropriate maintenance and suggesting lucrative improvements. Finally, they protect the value by obtaining insurance coverage, having regular inspections done, and handling maintenance as needed.

When done right, commercial property management will boost your financial investment while providing priceless peace of mind. Steve Parker and the team at Classic Maui Properties have over 39 years of experience in the Hawaii real estate market and offer comprehensive property management services for their clients. Call (808) 878-1001 to talk about your property today, or visit them online to learn more about what they can do for you.