When considering the choice between hiring a third-party manager and self-managing your property, the decision requires some serious thought.Ask yourself the following questions:
- Are you overwhelmed, under-equipped, or tired of self-managing your commercial property?
- What is the number of available hours in a given day that you devote to property management tasks?
- Do these available hours seem sufficient enough to maintain satisfied tenants and a thriving business?
- Do you have the knowledge and information needed to properly self-manage your asset?
Here are some benefits of outsourcing property management:
Hiring an experienced third-party property management company gives owners more free time to focus on developing their core business rather than dealing with day-to-day tenant related issues and property management tasks. Handling maintenance issues around the clock, paying bills, budget planning, staffing, collecting rent, administering leases and managing tenant relationships is a full-time job.
Another key benefit to hiring a seasoned property management team is the expertise, knowledge and market awareness they possess. We offer the advice needed to make informed decisions regarding property improvements, vendor contracts, legal compliance, valuable insight on market trends, financial management, building inspections, lease administration, new construction, and renovations. In addition, we have an extensive understanding of specialized categories such as building operating systems, energy procurement, ADA, and sustainability.
Our team specializes in office, medical office, industrial, multifamily, retail and hospitality. Principal involvement begins at the initial implementation of each project and continues through to the successful realization of increased asset value. Whether managing a single property or a large portfolio, our organization has a deep understanding of real estate investors’, operators’ and providers’ needs and expectations. With $200 million in assets under management, we function as an extension for all varieties of ownership structures to assist with strategic real estate decisions that address short-term and long-term goals.
We encourage you to interview our team. Learn how Harvard Pacific 3rd Party Property Management will partner with you. Click here to schedule a meeting with us.