Criteria for Choosing the Right Commercial Property Management Company

Posted by Auckland Property Management Ltd on August 12, 2019 | Commercial

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Let’s discuss four key factors that need to be considered when choosing the right commercial property management company:

The New Zealand commercial property industry provides for some big names to reckon with when it comes to choosing the right commercial property management company.

Let’s discuss four key factors that need to be considered when choosing the right commercial property management company:

 

1. Credibility

Consider the credibility of the company in the market and in the services being offered. Property Owners and Investors usually do their research first or may rely on ‘word of mouth’ by asking around or getting referrals from people they know.

Investing in commercial property is all about the goal of receiving a positive return, which as we all know, can only be reached when risks are managed and controlled. So, look for a Commercial Property Manager who focuses on removing or reducing risks. Considering credibility also means that the management company needs to be well organised, with credible leadership, and one that focuses on the culture of the company to be one of in-depth planning and transparency.

 

2. Quality of Property Managers

Look closely into the quality of the property managers within the company. Is there timely receipt of monthly rents? Do they build great relationships with their clients and tenants? Do properties have a high occupancy rate? In commercial property, these questions should be asked of prospective managers to ensure there are no problems in the future over vacancies, or improper reporting of funds.

Also check the Commercial Property Managers’ qualifications and experience. If it is a Commercial property management company you are considering, check out the whole Commercial property management team’s qualifications and experience as well.

Commercial property management requires good understanding of property law under the Property Law Act 2007, and other legislative regulations. Another crucial factor of commercial property management is sound reporting of the property’s financial performance. Managing commercial property is a little like running a small business, because a well drafted OPEX / CAPEX budget, Cash flow forecasting and proper recording of all expenses, not only reduce your risks, but makes yours, your Accountants’ and Tenants’ life much easier.

 

3. How It Works?

Do you have a great understanding of how professional commercial property management works? Good commercial property management can increase the value of an Owner’s asset by way of tenant retention and well-planned OPEX and CAPEX maintenance projects. Therefore, it makes good commercial sense to look for a property management company who is comfortable to clarify their service strategy like complying with regulations and financial management of the property.

 

4. Cost Structure

When it comes to management fees, good commercial property management companies upfront provide both the Owner and the Tenant with all costs involved in receiving commercial property management services. These costs can be broken down into monthly, hourly or project-based fees, ensuring that there will be no excessive potential additional charges to be incurred.

 

Using a Commercial Property Management Company like Auckland Property Management reduces the amount of time an Owner must spend making repairs, chasing down tenants for late rent payments, and enforcing the terms of a Lease. The most important personal benefit of using Auckland Property Management – Commercial is that it allows Owners greater freedom.  What Auckland Property Management values is professional attitude and commitment to client satisfaction…

Our Commercial Property Management division is headed up by Commercial Division Manager Anita Menzies alongside our Managing Director Howard Morley. Howard provides his more than 40 years’ industry experience, while Anita utilises her background in Architecture, Law and Project Management to ensure that the division’s approach to Commercial Property Management is one that is designed to provide you with the peace of mind that comes from knowing your property is in good hands.

Our team can provide a full range of commercial property management services, maintaining total flexibility so we can tailor our services to suit your needs. We have developed an enviable reputation over the years based on the delivery of our accurate, thorough, and in-depth services to our commercial clients.

 

If you would like to talk to a Commercial property specialist, then contact us today!

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