There\u2019s actually a lot more to it, as this great article from ManageMyProperty.com<\/a> mentions. But this is a good start and gives you a basic idea of what to expect.<\/p>\n If you are looking for someone to manage properties in Atlanta, would a property manager who currently only works with Chicago buildings be a good choice?<\/p>\n Or if you are in upstate New York with a small commercial building, does it make sense to have someone from downstate by NYC who normally handles skyscrapers and manage your building? Probably not.<\/p>\n This doesn\u2019t necessarily mean the company you hire has to be based out of your city. The CBRE Group<\/a> manages 1.2 billion square feet of property. They are based out of Los Angeles but have offices across the United States.<\/p>\n The point is that any company you\u2019re considering should at least have some kind of presence or experience in your area. That not only makes it easier for you to work with them, but they will be able better to manage the property\u2019s daily activities like maintenance<\/a>.<\/p>\n Even though certifications and education aren\u2019t necessarily strong indicators of performance, they at least show how much exposure and dedication the person has to the industry. In this case, you should look for someone who is an ACoM – Accredited Commercial Manager<\/a>.<\/p>\n This should be the bare minimum because an ACoM only needs one year of experience to get the cert. They have to do other things as well, such as complete classes and take a test, but the point is that a commercial building manager with some experience under their belt should be able to become an ACoM.<\/p>\n Something else to consider isn\u2019t as much of a certification as it is a specific type of experience. Right now, sustainability is a huge buzzword in the real estate world. The problem is getting a LEED certification for your property is difficult. However, companies can pursue getting certified as an IREM Certified Sustainable Property<\/a>. This isn\u2019t easy, but hiring a commercial property management company<\/a> that has helped do this in the past isn\u2019t a bad idea.<\/p>\n Why does sustainability matter? For one thing, it will save on your overhead costs and tenants\u2019 utility bills. Customers of all kinds are starting to prefer businesses making sustainability efforts, so that\u2019s something you (and your tenants) can promote.<\/p>\n How many people are on the team? Would it just be one property manager, or do they have a team of several to back them up?<\/p>\n These are important questions to ask because you don\u2019t want your management to be just one deep. In those kinds of situations, there are a number of things that may go wrong:<\/p>\n That\u2019s why you want to look for a company that you know is large enough to accommodate your needs. That doesn\u2019t mean they need a huge support team, but having some kind of backup is essential.<\/p>\n These are just a few things to consider. We\u2019re actually putting together a list of questions to ask a property manager<\/a>, so stay tuned for more information on that.<\/p>\n This is similar to the certifications arena, but here you are diving deeper into precisely what kind of commercial property experience they have.<\/p>\n Managing a strip mall is different from managing a fifteen-story office building. Working with an industrial complex isn\u2019t exactly the same as managing a group of restaurants.<\/p>\n No, you may not find that the commercial property manager has worked with the same type of building you own. But at least being familiar with it, or having someone else on their team to help them, is a great start.<\/p>\n Something else to keep in mind\u2014most states require property managers also to have some kind of real estate license<\/a>.<\/a> This means they may have been a real estate agent or broker before getting into commercial property management. That\u2019s a good thing, as someone with some experience under their belt may understand the market better than someone who has always been in property management.<\/p>\n This is another big thing we like to emphasize here at RentPost. Your property manager is your representative. Everything they say or do may as well have come from you because that\u2019s how the tenants see it.<\/p>\n Keep that in mind when you start looking around and interviewing different companies to find the right fit. If someone from the company\u2014whether it\u2019s the office manager, property manager, or CEO\u2014doesn\u2019t treat you well, how do you think they\u2019re going to treat your tenants?<\/p>\n And when your tenants aren\u2019t happy and start to complain or leave, it\u2019s too late.<\/p>\n The cost of commercial property management can vary significantly depending on several factors, such as the size and type of the property, its location, the services included, and the property management company’s fee structure. Generally, commercial property management fees are calculated as a percentage of the property’s gross income or as a flat fee. Here are some common fee structures:<\/p>\n To get an accurate estimate of commercial property management costs<\/a>, you’ll need to reach out to property management companies in your area and discuss your property’s specifics and your management needs. It’s essential to compare the services offered and the fees charged by different companies to make an informed decision.<\/p>\n![\"\"](\"https:\/\/s3.amazonaws.com\/assets.resources.rentpost.com\/wp-content\/uploads\/2017\/09\/23014253\/modern-escalator-shopping-center_1112-1989.jpg\")
<\/p>\nIs the Commercial Property Management Company Even in Your Area?<\/h3>\n
Commercial Property Management Certifications<\/h3>\n
![\"\"](\"https:\/\/s3.amazonaws.com\/assets.resources.rentpost.com\/wp-content\/uploads\/2017\/09\/23014849\/Capture-1.jpg\")
<\/p>\nHow Big is the Commercial Property Management Company?<\/h3>\n
\n
How Much Experience Do They Have?<\/h3>\n
\n
![\"commercial](\"https:\/\/s3.amazonaws.com\/assets.resources.rentpost.com\/wp-content\/uploads\/2017\/09\/23015101\/Capture-2.jpg\")
<\/p>\nDo You Like the Company?<\/h3>\n
How Much Should You Pay a Commercial Property Manager?<\/h3>\n
\n