Did you know that one of the top inquiries of prospective commercial tenants relates to property management? Long after the tenant has signed the contract and moved in, managing the building and maintaining good communication is ongoing.
While leasing commercial property can be very satisfying, it also comes with hard work, patience, and knowledge about legalities and the market. Whether you’re a new landlord or you want to improve your processes, here are some of our top tips on managing your commercial office space for rent.
Your tenants are operating a business that is essentially their livelihood. Whether it’s a broken toilet, a small leak, or a faulty door, the smallest repairs can greatly impact their employees and operations.
When a tenant calls or emails you about a concern, respond as soon as you can – even if it’s a quick message to say you’ll get back to them shortly. They will appreciate the prompt response, and they’ll feel more reassured when you are aware of the situation.
Communicate clearly and with good intention. If it’s important information or instruction, make sure that it can be traceable to reduce miscommunication.
Keeping your contracts, records, invoices, emails, and other data organized allows you to stay on top of things. Maintaining your books helps keep your rentals profitable and makes tax season run smoother. When you are organized, you have a better birds-eye view of your rental property or properties, which helps you be more proactive and anticipate changes.
Rental property management in Calgary adheres to certain laws and regulations. It’s crucial to have a thorough understanding of the city, provincial, and federal laws applicable to land-lording and tenancy.
If you find yourself in a sticky situation, seek the help of a commercial real estate lawyer before anything else. Even the smallest of actions that seem like the right thing to do can be against the law and can land you in legal trouble.
Suppose you’re finding that you’ve become too busy and overwhelmed managing either one or more of your commercial rental properties. In that case, it may be time to seek the help of a property management company in Calgary.
Experienced managers will communicate directly with your tenants and deal with issues promptly. Investing in a property management company gives you your time back and gives you the peace of mind that your commercial investment is well taken care of.
Our team at CMS Real Estate would like to wish you a festive holiday season and a happy new year! We appreciate your support and loyalty this past year and look forward to continuing to serve you in the new year! As a Calgary-operated business, our great joy is serving Calgarian business owners and tenants […]
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As CMS Real Estate marks its 40th anniversary, we fondly reflect on a journey that has firmly established us as a mainstay in Calgary’s real estate sector. Our secret to longevity and success? A client-first philosophy. When you emphasize the importance of prioritizing client needs, it fosters an atmosphere for our clients that builds incredible […]
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Operating a small business often involves renting office space, a warehouse, or other property types. There are two common kinds of commercial leases: a triple net lease and a gross lease. These two types of leases have distinct approaches to allocating costs between tenants and landlords. Whether you’re looking for a retail space or a […]
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