Get the Most From Your Commercial Real Estate Investment

11/3/2020 (Permalink)

Maximize Your Return Through Maintenance and More

While buying a property at the right price is critical, what you do with it after the purchase is often more important. Good property management leads to good return on the investment. Here ae 5 tips to keep in mind as a commercial property owner:

Happy Tenants
It can be difficult and expensive to find new tenants so the best way to maintain your income is to keep the ones you have. This involves regular communication, anticipating tenant needs and being proactive. One of the things tenants care most about is the cleanliness of their workspace. When you use SERVPRO to clean your facility, we can provide you with a badge and collateral to let tenants know it’s SERVPRO Certified.

Excellent Maintenance

You know that tenants will pay more for properties that look good and are well kept. Properties are designated as Class A, B, or C based on their condition and Class A facilities have higher rent and lower turnover. For a large commercial property, the list of things that need to be regularly maintained is extensive. SERVPRO offers HVAC maintenance, janitorial services and deep cleanings that eliminate bio-hazards.

Lovely Landscaping
The outdoor vibe is just as important as the indoor one. Beautiful (and smart) landscaping provides additional areas for tenants to meet, eat or have some downtime during breaks. Protect your outdoor investment by clustering wind-resistant trees and plants, maintaining the correct proximity to building structures and consistent watering and pruning.

Sustainability

Younger tenants are particularly drawn to sustainable buildings. You can offer site-wide recycling or composting services, relamp existing lights with energy efficient bulbs and upgrade the HVAC system. All of these things will save you money and the headache of finding new tenants.

Safety

Keep your tenants safe with well-lit external areas, monitored entrances and the presence of security guards in common areas. Keep your building safe with an emergency readiness plan. SERVPRO offers a free assessment to help build a plan that will minimize downtime and damage from storms or other disasters.

Owning commercial real estate can be a tremendously rewarding investment with active management and participation. Following the steps above will help ensure a high return and highly satisfied tenants.