Commercial property management is extremely important to the success of business owners. There are some important differences that distinguish the management for residential properties and those necessary for proper handling of commercial properties. Anyone with commercial interests should have a good idea of what it takes to create a positive and successful relationship with a quality commercial property management company.
This partnership will be of tremendous value as you work to establish the viability and popularity of your business. Unlike residential property, the success of how your commercial property is managed can make or break any business venture. This is why everyone should understand what makes a commercial lease different and how the choice of the right commercial property management can positively affect the outcome of any business.
Understand the structure of the lease and of all fees and expenses related to a lease. Commercial real estate leases differ from residential leases in that they govern a much longer period of time than a residential lease term. Property management companies typically expect a tenant to sign a lease for three to ten years, during which time the structure of the deal is specifically related to the original lease document. Make that your lease clearly spells out the price per square foot you are expected to pay monthly, as well as additional fees for taxes, insurance and common area maintenance, or TICAM.
Don’t be afraid to enlist the help of a real estate broker. The legal language in leases can be confusing and most always favors the landlord. A broker can help you to better navigate the terms of your lease and lobby for changes that will aid you, the business owner over the course of the term. Also, in local markets, real estate brokers often have long-standing relationships with property management companies, which can make the leasing process smoother.
Understand the principals and working concepts used by your commercial property management company. Before leasing a space for your new business, take time to visit the property on your own. Is the center kept clean? Is the parking field clearly marked and well lit? Do the other tenants run successful businesses? These are questions whose answers are often directly related to the attitudes and policies of the landlord and property management company.
To anchor or not to anchor? A shopping center anchor is the larger business that drives the primary traffic to a center, such a grocer or a “big box” retailer, such as Target or Best Buy. The advantages of being in an anchored center are that you are guaranteed to have a steady stream of potential customers throughout the day. However, you must decide if the location fits the type of business you plan to run and if the shoppers would typically be interested in your type of use.
Above all, know your prospective buyer and research demographics. Many times property management companies are willing to run demographic reports on the trade areas surrounding their centers for you. Knowing your “captive audience” helps you to predict what kind of shoppers you will encounter.
Watch the video related to commercial property management
www.realestatemanagementguide.com www.realestatemanagementguide.com Free video, video sharing, watch video of rental property management, commercial property management, real estate management, condominium management, property management, property management services, property mgmt,…
Help answer the question about commercial property management
What is the big diff between a Real Estate Company leasing a commercial property vs a property management co?What is the big difference between a Real Estate Company leasing a commercial property versus a property management company? It seems like its the same leasing idea (and contract?) but maybe with different tasks AFTER the lease is signed? Are the leasing fees/commissions usually the same? I guess I am trying to figure out why someone would go through a management company versus a real estate company or what really makes the difference?
About Author
William Douglas Management is a leading Charlotte Property Management company that has been providing quality association management services to North Carolina and South Carolina since 1980 focusing on Homeowner and Condominium Owner Association Management .Be sure to check out the services of this ace Raleigh Property Management company.
Posted in 
Tags: 
I am surprised that NARPM does not have a best practices document for you. Did you give them a call?
Don't have that list, but you might want to check this site and see if they have it
http://www.narpmnorthla.org/?page=members
Buena Suerte
Phone Book!
Practically speaking – there is no difference to the tenant. The owner may have a management company do some services that a realty won't do, such as building maintenance, etc.
If you're a property manager, you're going to get paid based on a percentage of the net income of the property.
Depending on if you are doing this YOURSELF, or if you have a team, commercial (apartments) is more profitable because the cashflow is higher. You are also more likely to be working with more savvy investors who will know how they want their property run. Dealing with single family's may be less work for you, but less profitable unless you have a bunch of them, and then you can get into trouble if all the properties need something urgent at once.
Why get into management working to put dollars into someone elses pockets when you can own and put all the money into YOUR pocket?
Best of luck in whatever you decide to undertake. WHATEVER YOU DO, learn more before you advertise that you are a property manager. People will be expecting you to run background checks on possible tennants, etc, you need to really know your stuff. You aren't ready yet.
by matching income with expenses. If the totals matched exactly you reached the break even point.
I would think that managing one property for added income would be viable. It's not as though you have to start up a big business, you are already in the property management business it's just your own. But do be aware that to offer professional real estate services to the public in exchange for $ you must be a licensed real estate agent in every state that I know of. So be sure to check with the state department of real estate first.
I don't often disagree with "Landlord", but on this one, I am thinking on a larger scale than she is.
As a new college grad with an interest in commercial real estate, why don't you try applying for entry level positions with some of the major commercial real estate services companies? You would probably need to live in a major market (as opposed to a small town), but working for a large commercial real estate services company will give you exposure to many different fields in the industry.
Take a look at the job listings for CB Richard Ellis, Jones Lang LaSalle, Cushman & Wakefield, Grubb & Ellis to get a feel for what I mean. You would want to focus on titles like "analyst", "assistant property manager", or anything with the word "associate" in the title. If you send me an Email with where you want to live, I will tell you if I know of any other major companies operating in that market.