South Carolina is home to around 431,000 small businesses, making up over 99% of all businesses in the state.
If you're a commercial property owner in Columbia, the sheer number of businesses presents a fantastic opportunity to make more passive income. That being said, it's hardly passive income without a good property manager.
Caring for a commercial building is a lot of difficult work, even more so when you house multiple businesses at once. Property management services will take the burden of caring for the building off of your plate, so keep reading and learn how to choose the right property manager for your space.
Ratings and Reviews
You need to start your search online. Look for the most reputable property managers by checking out testimonials, ratings, and reviews on Google or other local listing sites.
Reviews are a great way to learn more about a property manager from someone who has used their services before. You may also find reviews from previous tenants of the property manager.
Look for red flags that can eliminate candidates. Issues with customer service and mismanagement are major red flags that will hurt your bottom line. The best property managers will have sterling reputations with everyone they've worked with.
Checking Out Portfolios
Another thing you can try is to ask for referrals. If you know any other commercial property owners in Columbia, ask them which property manager they use and if they're happy with the services.
Failing that, you can always see who a property manager works with by asking to see a portfolio. It helps to see that a commercial property manager has worked with similar buildings to yours and plenty of local businesses.
Services They Offer
Before you start looking for property management, it's important to know exactly what you need. If you want full-service commercial property management, you'd better be sure that the property manager can handle every aspect of running your building.
A good, comprehensive property manager will handle everything. This includes property marketing, tenant management, maintenance, and financial reporting. With the right services, you'll be able to sit back and enjoy the perks of being a property investor.
Getting Quotes
The last thing to do before hiring a commercial property manager is to get quotes. Detailed estimates will give you a good indication of what you should be paying for property management.
It's important that property management fits your budget. It's also important to realize the impact a good property manager has.
With great property management, your units will become more lucrative. They'll save you money on maintenance and keep good tenants in your units, lowering your vacancy rate.
Get the Best Commercial Property Management Services in Columbia
Choosing the right commercial property management services is essential to your success. Use these tips to narrow your selection down and make your properties more lucrative today.
If you're a Columbia property owner, PMI Palmetto is your solution for commercial property management solutions. Contact us today to learn more about our services and how they can help you thrive.
