Over the past few years, we have seen businesses wanting to own their own buildings, we get it, Real Estate can be a great investment. Although there can be many reasons for business owners to invest in buying their own building for their operations, there are also many details to consider. While we aren’t here to tell you which is better – every company must make the decision based on their own needs – we want to tell you how a property management firm can help take care of this investment
Working with a local professional property management firm can be a game changer. A good PM firm will have connections with many different local trades and service providers. These established relationships can result in better pricing, quicker more reliable service, and better-quality work; your property could also benefit from these relationships.
The first few years of new building’s operating cycle tend to be a bit easier, as you still work closely with the builder and suppliers who have warranties. You also tend to not have much turnover of Tenants in that time frame and no major repairs or renovation work is predicted. Most buildings will start to see this change at the 5-year mark. That’s the point where some systems begin to require a bit more maintenance and users notice design or operating procedures needing changed or upgraded. It is also a time when many contracts can com up for renewal which is a good time to really look at your service providers and re-consider what services you need.
Owners usually contact a property management firm because their own businesses cannot tolerate the daily calls about snow removal and plugged toilets, but the owner still wants to be aware of what their Tenants are facing and the changing needs of the users. Working with a PM doesn’t eliminate the control of the owners but allows the Owners to focus on the more important aspects. The PM will take care of the day to day, standard operations, and pass along the relevant information to owners.
Here at Adelin Properties, we are the local property management firm with great relationships and resources, and we have been proudly working with local owners for many years and we would be happy to help you too.
See some of our clients
