5 reasons you need an office space management team
Many property owners have found that the costs of managing properties can quickly become an expensive hassle.
What once was an income generating asset has now become a burdensome headache. Maybe your property has turned into a backlog of repairs, custodial maintenance, and delinquent rent checks that haven’t been mailed on time.
Property owners may find themselves dealing with spaces that sit vacant for significant periods of time. Without proper maintenance, these properties quickly become victims of weathering, age, and weeds. But it’s expensive and time consuming to manage upkeep. Many property owners may find themselves in over their heads and wondering how to get back on top of the endless to do list that comes with property management.
The good news is, there’s a way to manage these mundane tasks and keep your property management business from fizzling out. An office space management team performs the tasks you’re unable to do yourself: cleaning, repair work, and property upkeep.
If you’re wondering whether it’s time to hire a professional management firm and are weighing the pros and cons, here are five ways to know it’s time to find a trusted office space management team.
1. You are sick of having to chase down rent.
No one loves having to be the overbearing landlord, but you also need money from your tenants to keep your business running smoothly. At a time when everyone is feeling some sort of financial squeeze, the pain of continually requesting rent from lessors can be taxing. Why not shift that burden to your office space management team?
In most cases, hiring an office space management team allows you to take advantage of electronic billing systems. This allows tenants to pay in a billing portal, combining all rent, CAM fees, and other items into a singular payment handled by an arbitrary body. Allowing users to take advantage of electronic billing via a property management firm will free you from having to collect and deposit checks. Not to mention it saves paper and makes your business more eco-friendly!
2. You have some vacancies and need help filling them.
It’s hard enough trying to keep your tenants happy. A huge list of responsibilities comes with occupied properties, from managing custodial maintenance to setting a long term improvements schedule—and tackling all the other tasks you have to do between multiple properties.
But what about your vacant spaces? Those properties need just as much attention but come with an added task: looking for new renters. There simply aren’t enough hours in the day to get everything done!
Leaning on your office space management team not only frees you from the maintenance work, but their relationships with other vendors and multiple clients will open the door for new tenants to find your office space.
3. You are struggling to keep up with rental operations.
The requirements for keeping up an office space can be daunting for a small team. The maintenance scheduling, tenant management, and general upkeep are enough to occupy all of your time. That’s assuming you only have one space to maintain.
Engaging an office space management team will help you better understand the total upkeep requirements that come with juggling multiple rentals. Your team can also create maintenance schedules for you to oversee or manage that for you.
By engaging professionals with years of experience in office management, you can be assured that vendor contracts, maintenance scheduling and management, tenant management, and basic services between rentals are coordinated and completed.
No more guesswork of what needs to be done, what should be done, and when it’s going to get done with a professional office space management team.
4. You are tired of wrangling contractors for maintenance and cleaning.
With supply chain and labor shortages intensifying, continuing your existing relationships with vendors gets tougher and tougher. Having to juggle the schedules of multiple firms, dealing with vendors failing to provide the services you expect, and figuring out what still needs completed each day can make facility ownership feel less like a profit generator and more like a hassle.
Engaging an office space management team to manage operations and perform cleaning and maintenance will ensure the tasks get done and you won’t have to exhaust yourself with vendor tracking and follow up.
5. Your personal upkeep fees are eating up your profits.
You may be skeptical about hiring an office space management team. Will they really be able to save you money, or are you adding yet another business cost?
Chances are, you’re going to save a lot more than you think. An office space management team leverages its numerous vendor list and own employees to provide the best services at the lowest prices. By engaging vendors and building multiple contracts, you can capitalize on the savings when projects are ordered in bulk.
When you factor in the cost of engaging an office manager and the potential cost savings versus individual management and the hassle of juggling multiple vendors, the decision becomes clear.
Ready for your office space management team?
If it’s the right time to hire a professional office management team, give the team at PM Company a call. Their dedicated staff will walk you through the process and free you up from the burden of continued management of your office space. Call 1-304-485-8000 today to speak to one of their qualified agents.