Commercial Property Investment and the Importance of Excellent Property Management
Property Owners who hold Commercial Property as an investment either as a single holding or a portfolio of investment properties would understand the key to minimising a high percentage of risk is in the level of expertise in the ongoing management. This role is generally contracted to a property manager in a real estate agency.
Whilst commercial property management should aim to enhance the asset value and generate maximum income throughout the life of the property, this is not likely to be achieved if the property manager or real estate agency is not capable or qualified to fill this role.
Understanding the complex terms and agreements of commercial leases and tenancies requires specialised skills and experience. Residential agents also managing commercial property quite often do not understand the need to wear a residential ‘hat’ while dealing with residential property and the requirement to take of that ‘hat’ and put on the commercial property ‘hat’ while dealing with the commercial part of their business – the requirement to understand commercial property management is that different!
Even accountants and other specialists in their own fields should on behalf of their clients run a risk assessment on the property management of their clients’ commercial portfolio. But do they understand the complex lease terms and conditions?
At CPMS Commercial we are specialists in commercial property management, we have an excellent team of staff and consultants that keep up to date with changes in legislations and other areas affecting commercial property investment.
Our consultancy division provides independent practical advice on your investment performance from a property management aspect.