When you’re thinking about starting a business or moving into an office space, the number of decisions you have to make can start to feel overwhelming. Then, once you get tenants into space, that number just grows, as you continue to manage your own business as well as support their needs.
A management company can help to take some of that weight off your shoulders. We’ve put together several reasons why hiring a full-service management company can pay off and can make your life easier.
1. A Full-Service Management Company Can Make it Easier for You to Scale and Grow your Business.
You have plenty of things on your plate. If you have to dedicate your time to the ongoing issues that can occur with clients and tenants, in addition to tasks like payment processing, budgeting, and resource management, you won’t have time to dedicate yourself to long-term strategic planning and growing your business empire.
When you work with a full-service management company, you’ll be able to feel confident about being away from the office to pitch clients, participate in meetings and build relationships.
In addition, using a full-service management company also gives you the freedom to open or work from multiple locations, because you know you’ll have support in handling the managed building/space.
2. A Full-Service Management Company Can Help You Keep your Properties Full.
You want your spaces to be used. Besides being good for your bottom line, it’s good for tenants to feel confident about their choice when they’re surrounded by other thriving companies.
And, it also ensures that you’re able to continue attracting new business. A busy, buzzy office location will give an excellent first impression; then the diligent care and management of the location will do the rest.
Here’s the catch, though. While you want your building to be full, you want to keep it filled with solid, trustworthy businesses. You’re not going to make money if you have a constant revolving door of tenants, or if you have to spend your valuable time chasing down rent payments. And you’re not going to bring on (and retain) the good, trustworthy tenants unless you make it make sense for them to be in a long-term relationship with you.
A good property management company can save you money by helping you onboard tenants at your location, supporting any build-outs that have been included in the tenant’s contract.
3. A Full-Service Management Company Handles Emergencies and Crises that Pop Up.
Who wants to be awakened in the middle of freezing cold and stormy night to hear about the havoc the weather has wreaked on your office location? In many cases, your property management team can be the first line of defense against these types of issues.
Your full-service management company should be able to communicate with both your clients and emergency service professionals to keep your building up and running, or to sort out issues as quickly as possible.
And, they’ll also keep you informed as they work through the process, allowing you to play a key role in the decision-making process without serving as a middleman between tenants and plumbers.
4. A Full-Service Management Company Does Your Hiring for You.
A property management team won’t actually make sure you have the perfect administrative assistant and a full team of sales professionals. However, what a property management company can do for you is to secure the professionals that keep your building clean, cared for and running efficiently.
A full-service property management company can secure the on-site facilities personnel you need for your business, including custodial staff, lawn/outdoor maintenance professionals, and technicians to handle repairs, renovations or improvements.
By offering this convenience, it keeps you from spending time and money recruiting new personnel and wondering whether they’re trustworthy. Management companies typically have long relationships with trusted professionals, and a full network of referrals they can take advantage of to get you the best possible service at reasonable prices.
5. A Full-Service Management Company Keeps the Properties in Great Condition.
If there’s no one serving in an official property management position at your location, then it may take a lot of squeaking for your squeaky wheel to get the oil it needs. However, with a full-service property management company, the property managers have a vested interest in keeping your space functional, clean and up-to-date.
Your space is a reflection of them and the service they provide. And, because they oversee your entire tenancy, plus the turnover to new clients, it’s in their best interests to make sure they’re handling issues as they occur, rather than procrastinating them until the end of your contract period.
6. A Full-Service Management Company Handles Your Paperwork.
One of the most frustrating issues about making updates or improvements to a location is the inspection process. A full-service management company can work with municipal offices to ensure that you have dotted your I’s and crossed your T’s when it comes to the documents needed to keep your office location running.
In addition, they can work with you to manage the budget on projects, giving you updates and requesting your feedback, rather than requiring you to manage the entire process on your own.
If you’re trying to keep a property running smoothly, so your tenant’s lives (and your own!) continue moving forward just as smoothly, Ellicott Development’s Property Management Team can lift the burden from your shoulders and make it easier for you to focus on success for other areas of your business.