How to Find the Right Property Manager

Trying to find a commercial property manager who is right for you requires a lot of research and a little trust. You want someone who has experience and provides consistency. A company that maintains professional records and reports property concerns can be a great asset to you, as it will help you maximize profit.

You should ask around for referrals from a few property managers. This helps you get a feel for some real-life experiences that other people have had with your potential candidates. You should also find someone who has strong references and credentials to support their level of experience. Looking into the company, not only the property managers themselves can help you find background information as well.

Whether you currently own a commercial investment property, or you are working to acquire one, a property management company that can confidently manage your assets may be on your mind. Either you a searching for a new property manager or you are seeking one during your due diligence.

Here are a few tips to get you started.

Investigating Accounting Services

Hiring a property manager helps you increase profit. You need a property management firm that also boasts robust accounting services. You want to have confidence in their ability to provide accurate reports of operating budgets and cash flows. You must find someone capable of balancing expenses and completing profit and loss statements. Calculating profit from rent is a skill a property manager needs to have.

A good property manager will assist you in generating revenue and will increase the value of your commercial space. Perhaps in the future, let us say you are considering selling your property. Historic and accurate reporting and bookkeeping will help you transition to new ownership. A property manager will also be able to work closely with brokerage to assist during the marketing phase by accurately determining and maximizing the net operating income (NOI) of your property and its assets.

Exploring the Company Behind the Property Manager

Professionalism, trustworthiness, and organization are aspects of business for which all companies should strive. When looking at a property management company, see how long they have been around. A long-established company is more likely to be of higher quality.

Established in 1975, Sturges Property Group is a full-service commercial real estate company that offers both leasing and property management. Because Sturges Property Group has been in business for nearly 50 years, we have an established network of vendors and contractors. We will help take away the stress of property ownership with our property management services, so that you may concentrate on your company needs. We will be your go-to for all tenant and property needs. A property management company like Sturges Property Group also coordinates any construction or tenant buildout needs with our affiliate companies.

Checking Credentials and References

You should research the references and credentials of a potential property management candidate. Indiana requires a property management company to have a real estate broker’s license. See what certifications your potential candidate holds.

Have they enrolled in or completed a Property Management Certification course? If so, their ranking in your list of candidates should rise. Property managers who become Certified Property Managers® (CPMs) enroll in a stringent set of classes to become the best of the best. Programs like the Institute of Real Estate Management (IREM) provide these certifications. Finding someone with good references and certifications can help you determine exactly what you need and want for your commercial space. Sturges Property Group has several Certified Property Managers® (CPMs).

Checking Google reviews for the company will provide comments from other clients, both good and bad. The company should have five-star reviews and be active in replying to all reviews, always striving for improvement. These signs show that you are looking at a qualified and trusted company that backs up your property management candidate.

Asking for Referrals

Your networks can help you find the right property manager. They can give you a true insight into how a potential candidate functions because they have seen them in action. It can be helpful to know someone directly who has previously worked with your potential candidate.

You should not accept the candidate with no further questions, though. Ask about problems, successes, weaknesses, and strengths. These questions help you get a more thorough view of how the manager functions. You must find someone capable of handling a property well while learning from mistakes and continuing to grow from successes. As a local company, Sturges Property Group highly values familiarity and positive customer service.

You want someone who fits your needs. They should mold to your specifications, not the other way around. A property manager’s main purpose is to help increase the profit created by your commercial space. So, you should:

• look into the company behind the property manager to get background information.
• check your candidate’s credentials, certifications, and references.
• ask around for recommendations.

Sturges Property Group offers full-service property management services for all types of commercial spaces. We work hard to work with you, not only for you. Give us a call to talk to one of our talented property managers to see how we can help you best in your commercial property.