Why Commercial Property Management is Critical for the Value of Your Investment
As a full-service real estate developer and partner, there is more to our work beyond the investing, design, and construction of vet clinics and doctor and dentist offices. Commercial property management is a critical part of the Ashton Gray full-service package.
So, what exactly is commercial property management, why is it important, and how does Ashton Gray handle commercial property management?
We spoke with Ashton Gray Asset Manager, Tandell Veleker, RPA, FMA, to get her take on what goes into the role of property management.
What is a Commercial Property Manager?
“A commercial property manager is the key to maintaining the value of your commercial property,” says Tandell. “Property managers play in two major arenas—operational and financial. Financially, they are an effective way for investors and owners to grow their portfolios. Property managers commence rent, create property budgets, and perform budget vs actual analysis.”
At Ashton Gray, we develop and manage a variety of properties and businesses, meaning property managers have to be able to adapt to different needs while keeping an eye on the financial side of the property.
“Commercial property managers oversee as many or as few needs of an owner and/or tenant,” explains Tandell. “This includes services that slow down the depreciation and deterioration of your investment. A property manager will establish a property’s preventative maintenance plan, bid and schedule property maintenance, maintain landscaping, manage tenant issues, and most importantly—respond to emergencies.”
Why Do I Need a Property Manager?
Just like our construction or investment teams, our property managers are highly specialized in their areas of expertise. This allows them to bring more time and knowledge to the role than a business owner who is trying to split responsibilities.
“Real estate is generally viewed as a way to earn passive income, but it takes a great deal of work to keep an asset in good working order,” Tandell explains. “The only way to make it passive is to hire a property manager to oversee the operations and act as the owner’s representative. A property manager makes it possible for an owner to continue to do the work they do best without worrying about their building or their tenants.”
The property management roles involve plenty of day-to-day operations, such as tenant inquiries or maintenance requests. These issues require a high level of responsiveness and attention to detail, something that isn’t always possible for business owners to devote.
Commercial property managers also need to be privy to the legal requirements of property ownership, including adhering to rental laws, tenant rights, and safety codes.
And when vacancies open up in a property, a property manager can help develop marketing strategies to attract tenants and screen potential tenants, along with the process of bringing a new tenant aboard.
What Should I Expect from Ashton Gray Property Management?
“We are invested in the asset more than just a typical property manager and take pride in maintaining the structure as well as the relationship,” Tandell explains. “Most importantly— we always pick up the phone. Emergencies, questions, concerns—we always answer and will jump to assist so you are never alone in owning your real estate.”
When you partner with Ashton Gray, you’re building a real relationship because we invest alongside you. This gives our property management team, along with the rest of the Ashton Gray business, a real incentive to see your property and business thrive. For our property management team, this means no issue a tenant may have is too big or too small.
A lot of businesses claim to be partners, but we really mean it. As your business and property grow, the property manager is your go-to person for the day-to-day operations and is just another way Ashton Gray fully maximizes your business potential.
For more information on how Ashton Gray partners with you and your business to create a growth model that lets doctors, vets, and dentists focus on their business while Ashton Gray handles everything else—let’s talk!