Wisely selecting a commercial property management company in Kansas City is important for your return on investment. Here are some tips on choosing a commercial property management company that fits your needs.
- What's your need? If you need a company experienced with managing apartment properties, office complexes, a multifamily housing complex or industrial building, look for that experience in your commercial property management company. Look for any problems with that property whether keeping tenants, maintaining the property or marketing / leasing problems.
- Check the company's reputation. Ask your colleagues about the company's reputation. Check the Better Business Bureau or other sites online for the company's integrity and honesty. Look through the company's management roster to check their longevity of service with the company. You don't want to deal with a company that has high turnover. Consider if you would be dealing with the same manager every month or a different person.
- Look for industry accreditations. A staff person's certification such as Certified Shopping Center Manager (CSM) or Certified Property Manager (CPM) indicates commitment to the industry as well as broader knowledge of commercial property management. A commercial property management company should have expertise in accounting, architecture, construction, leasing, sales, real estate law, appraisal, marketing and maintenance.
- Does the company have professional liability insurance? Company management should be familiar with loss prevention and risk management programs. The firms should also carry a fidelity bond to protect against the loss of money or property through fraudelent or dishonest acts of employees.
- Avoid conflict of interest. Check to see if the company owns a landscape firm or architectural firm that could prevent you from doing business with another landscape or architectural company.
Carefully evaluate the commercial property management agreement to make sure all of your concerns or required services are included. Costs outside of the monthly management fee should be noted in the agreement. Your commercial property management firm is your partner in financial success.
For more information about property management in Kansas City contact Results Real Estate Services.