Selecting the right Commercial Property Management firm is one of the most crucial decisions investors can make. Exceptional property management makes a difference and contributes directly with the maximum return on an asset.
Where to start?
During the research phase make sure to look into the company’s reputation and area of expertise.
We have an extensive list of clients that came to us via word-of-mouth and we hold a notable standing in the business community. Our portfolio of managed Commercial Properties includes: Shopping Centers, Retail Specialty Centers, Garden Office Buildings, and Condominium Office Parks, Light Industrial and Warehouse/Office projects in Tucson.
Do number of years in business matter?
Number of years in business reflects experience and longevity. In short, yes, reputation and years of experience matters.
Our property management expertise includes: 40 Years of commercial, multi-family, Industrial & office leasing and management. Unlike most Real Estate Management companies, we started out by managing only properties we owned. Consequently, we come from an “owner’s point of view”, for every property we manage, whether we own it or not.
What services do Commercial Property Management firms typically provide?
A CPM should match your needs, the first conversation you have with the CPM firm should be about specific services offered.
As declared by the CCIM Institute (Commercial Real Estate’s Global Standard for Professional Achievement), Commercial property management firms typically provide the following services:
Management Planning
A commercial management company can analyze the business environment and the specific property within that environment, set out a marketing strategy, and recommend how a client’s objectives can best be fulfilled.
Financial Reporting
Record keeping and financial reporting are key services provided by management firms. Ask to see samples of the firm’s reporting documents.
Budgeting
The management firm develops and monitors the property’s budget, which covers everything from maintenance to marketing, personnel to operations. As the year unfolds, the manager should inform the owner of any necessary budgetary adjustments and explain why they are needed.
Maintenance Programs
Commercial property management firms provide monthly maintenance cost monitoring and the development and implementation of preventative maintenance programs.
Market Rent Analysis
Management firms will provide an analysis of market rents and those of the competition, changes in area demographics, and anticipated absorption levels.
Marketing Programs
Firms can develop and implement marketing programs that improve the image of properties and ensure successful leasing. A comprehensive program may include such essential marketing tools as brochures, advertisements, special events, property newsletters, videos, maps, and site signs.
Rent Collection
The collection of rent, including a daily record of deposits, is a basic service provided by management firms. A cash management system, which includes investment returns on rental dollars collected, should also be implemented.
Lease Negotiation
A firm is usually responsible for negotiating all tenant leases and renewals, or, in the alternative, for recommending the best leasing company in the area and coordinating leasing activities with that company.
Tenant Relations
The professional property management firm is attentive to tenants’ needs and responds to their concerns immediately. It should have a written policy for receiving and resolving tenant concerns.
Purchasing Procedures
Firms establish procedures for the purchase of all equipment, supplies, contracted building services, and insurance coverage.
Contract Specifications
Commercial property managers prepare specifications for all contracted work (such as tenant improvement construction), obtain competitive bids, and supervise the projects.
Documented Procedures
Commercial management companies establish documented procedures to ensure compliance with all federal, state, county, and local governmental statutes as well as administrative regulations, ordinances, and fire, health, and safety codes.
In addition to the services listed above, we also offer:
Rehab & Property Upgrades
We can do all property renovations, upgrades, remodeling and tenant improvements and manage the day-to-day communications with tenants. These tasks include:
– Process accounts payables and receivables
– Supervise vendors performing maintenance and repairs
– Perform periodic inspections.
Highly Trained and Experienced Commercial Property Supervisors
Property managers visit and inspect all properties on a regular basis. They are also available on an as-needed basis to help maintain a solid relationship with the tenants. Our property managers cross-train and spend time at every property to ensure our clients’ properties are always expertly managed.
On Staff Expertise
In addition to our highly trained Commercial Property Supervisors and as an added benefit to our clients, Whirlygig Properties, has on staff, a General Contractor with over 40 years’ experience in commercial & industrial development. Our hands-on expertise allows us to better interface with architects, engineers, contractors, and vendors to ensure the smoothest work schedules, least disruption to ongoing businesses, and the most efficient use of client capital.
In-house commercial maintenance
Our in-house commercial maintenance crew of available employees allows us to allocate the daily care of each property. Therefore, tenants do not rely on subcontracted day-porter services. The well-trained maintenance personnel allows us to better serve the properties we manage.
24/7 365 Days a Year
Our 24-hour emergency answering service and on-call commercial maintenance personnel ensures a high-level response at all times. Our ability to respond to the specific needs of the properties and their tenants is unparalleled in Tucson.
What are the results of working with a CPM?
Your investment will be protected and there will be better overall investment results.
Properties managed in the Whirlygig Leasing Division have achieved high occupancy rates and lease renewals.
