The world of commercial property management…from tenant complaints to air con repairs and complex leasing arrangements, who would have thought it could be so much fun? Or time consuming.
Yes, really time consuming…and with constant updates to tenant legislation, increasingly complex. If you are not managing your property efficiently and effectively, it can become very costly.
If you’re a DIY Landlord and you’re starting to think more carefully about the time Vs reward equation, then here’s the good news: a commercial property manager can do it all for you and HKC is here to help. We’ve long since mastered the art of managing tenants and maximising profits from properties just like yours.
At HKC Property Consultants we manage your property as if it’s our own. There’s no account management merry-go-round with ever changing personnel – when you deal with HKC, your commercial property manager is a company director – and you can pick up the phone to talk to her any time you need an answer.
For a small annual fee, often paid by the tenant (if you’re not sure if your tenant is paying the management fee, contact us and we can find out for you), we analyse your property’s performance and manage it with a view to extracting higher returns, saving you time, money and the headache.
So what are the key motivations for using a commercial property manager? Basically it all comes down to finance and lifestyle.
Financial Reasons – leaving money on the table
- If you’re doing it yourself and you’re not an expert or your existing property manager just isn’t cutting the mustard, there’s a fair chance that you’re leaving money on the table. A skilled, professional commercial property manager has seen and done it all before – there’s no substitute for experience when it comes to maximising returns.
- Missed rent reviews, incorrect recovery of outgoings and a plethora of small errors all add up to a significant financial impact when your property isn’t managed correctly. As an investor, it’s simply self-defeating to mismanage your own property.
Lifestyle – time to get your life back
- Few investors would ever go back to managing properties themselves having outsourced to a top class property manager. Life is just a lot more fun without the hassle! More time, more headspace, smart investors stick to what they do best – investing.
- Most commercial property owners have been business people themselves over the course of their careers and understand the basic principles of delegation – bring in an expert and free up your time – that’s how business’ and profits grow.
Here are a few examples from the HKC portfolio:
- One owner was tired of getting a new property manager every 6 months at his old property management company, now he has enjoyed personal service from one of our directors managing his portfolio for the past 2 years. Reliability is the key.
- Andrew bought an office investment as a retirement project but soon realised that the tenants were behind in rent and had been undercharged. Maintenance was also long overdue. The investment was actually starting to lose money rapidly until HKC came in and produced a maintenance program, cleared up rental arrears and increased the rental tone for new incoming tenants. Instead of stressing about his investment and losing money, Andrew now has peace of mind and receives a passive income from the investment.
- An investor bought a commercial property with a view to doing a mixed use residential development. Having reviewed the property, however, we were able to demonstrate to the owner that with effective asset management we could significantly improve his return on investment. We terminated tenants who were not paying rent, carried out minor refurbishment works and released the units at higher rents to better quality tenants. The practical upshot is that we increased the income and overall value of the property for the owner.
No two commercial properties are the same. We take each one on its merits and strategise accordingly. Talk to HKC today about maximising your returns.