Take Note Of These Hacks From Commercial Property Maintenance Pros

Commercial Property Maintenance Hacks From Pros

Facility managers who are responsible for office complexes and other similar types of buildings will be all-too-familiar with the concept of managing your tenants’ expectations. As they’re responsible for everything from ongoing property maintenance to dealing with leases, the job can seem challenging if you’re not properly prepared. Here are 7 commercial property management hacks from the pros that will make your day-to-day a whole lot easier.

commercial property maintenance, nashville tnListen to your tenants

From time to time, ask your tenants about their experience so far as one of your lessees. Ask open-ended questions designed to unpack whether they’re satisfied or if you need to work on some things for them. After all, satisfied tenants are more likely to renew their leases than those who are unhappy.

Understand your own Terms and Conditions

The best commercial property management starts with a facility manager who understands the lease’s terms and conditions. While there will likely be variants between each tenant, familiarize yourself with the standard agreement as well as any notable variations.

Budget for various maintenance costs

Maintenance expenses typically fall into one of two categories: planned and unplanned. You can use your previous years’ expenses to predict both. It’s also helpful to reach out to contractors on your database each year to find out whether they’ll be passing along any price increases to you.

Be prepared for upgrade season

Regular upgrades to your commercial property can help increase tenant satisfaction and should be an expected part of your annual budget. While these can fall into the planned maintenance category, there are other upgrades that are comfort or recreational in nature — not repair-based. Either way, include a line-item in your budget for upgrades.

Know the market

Effective commercial property management includes understanding the local real estate market. Lease rates at nearby properties can help you determine if you’re charging too much or too little for your commercial space as well as the amenities those properties offer compared to yours.

Build your network

Business sentiment in your communication can be a major driving factor in building occupancy rates. The more you network with other business owners, the better of a relationship you’ll have with them — and the more likely they’ll turn to you for their commercial property management needs.

Improve your message

Marketing your property is all about the messaging. Communicating with tenants about planned upgrades or unexpected repairs is also about how the information is passed along to them. In other words, communication is central to everything you’ll do as a property or facility manager. If you want to increase the likelihood of renewing your leases, improve your messaging — whether by means of how you communicate with tenants or how you market it to new occupants.

integrated facility management for properties, raleigh ncBreathe easier with LESCO commercial property management solutions

A company’s operational responsibilities can seem overwhelming. When you partner with an Integrated Facility Management firm such as LESCO360, we’ll help you navigate some of these more challenging tasks. Let us take the burden off of your shoulders: contact us today to schedule a free consultation.