As the name implies, a commercial property manager provides expert assistance to property owners in managing their commercial properties. Commercial property managers carry out a number of different tasks to provide the best services to commercial property owners, but generally, they take care of the following things:
• The maintenance and repair of elements of the buildings constructed on the commercial property such as mowing of lawns and prompt repairs
• The screening of possible new tenants who are interested in renting one of the commercial stores or buildings
• Overseeing of the leasing of property sections like the retail spaces inside a mall
• The collection of rent payments from tenants on the commercial property owner’s behalf
Basically, a commercial property manager deals with different kinds of commercial properties from retail spaces to office buildings with multiple stories. Most of the time, commercial property owners will hire companies that offer these services to take care of the daily operations that take place in their commercial properties. This allows them to have more time in dealing with other parts of their business. For any company or commercial property manager that will be hired to manage commercial properties, they will usually be given some authority that will allow them to make crucial decisions that would have some influence on how much income the commercial property owner will receive. There are a lot of benefits to hiring the right company. To start, the property owner will be able to have lower turnover rates for their tenants and will be able to secure the best rental rates.
As mentioned above, one of the responsibilities of a commercial property manager is to be the one to do the screening of possible tenants in the property. They accept their applications as well as be the ones to do some background checks. If they find it reasonable to accept the application of the tenant for a rent of space, they will be preparing the lease. For the entire duration of the lease, the manager will see to it that the tenant will be receiving benefits and responsibilities stated in their lease agreement from their rental amount to their rental due and many more.
Furthermore, the commercial property manager will act as the middleman between the commercial property owner and the tenants. If, for instance, the tenants have any needs or problems that need catering to such as repairs of their rented space, they will immediately go see the manager. The manger will then be the one to institute the necessary measures to resolve the issue at hand. It is the role of the manager to resolve this whatever problems tenants have to benefit not just the tenants themselves but the owners as well. On the other hand, when the tenant is not able to pay the rent as stipulated in the leasing agreement or is doing something that is not stated in keeping with their agreement, then it would be the job of the manager to send an eviction notice. For every state or jurisdiction, there will be differences in their eviction regulations. If the manger will serve this notice, he or she must be sure to follow all the steps being outlined by the state about this process. By doing so, the entire process will be done legally avoiding the possibility of receiving some complaints from the tenants that they have been evicted illegally.