Effective property management can lead to higher future resale value for commercial properties.
3 Key Strategies:
- Preventative Maintenance – Proactive maintenance helps prevent costly issues and maintains the property's value, similar to preventing health problems before they occur.
- Financial Record Keeping – Accurate maintenance records enable property owners to justify a higher asking price during a sale, as potential buyers value properties with documented upkeep.
- Market Rents – Ensuring units are rented at current market rates maximizes cash flow, which is a primary factor in determining a property's resale value.
Day-to-day management decisions can have a significant long-term impact on property value, making it crucial to choose a reliable management company. Learn more about our commercial property management services.
Tips for Managing Commercial Properties from a Distance
The Importance of Regular Property Inspections
Strategies for commercial property owners dealing with significant vacancies
Strategic renovations can improve the property's value and attract higher rents. Learn how a successful remodel led to a 20% rent increase and reduced vacancy time.
4 Key Considerations For Deciding Whether to Remodel
- The property hasn't been updated in over 20 years.
- The economy is strong enough to support a renovation.
- A leasing agent has advised in favor of it.
- The property manager is capable of handling the transition smoothly.
Crown Commercial' Property Management has extensive experience in managing remodels while minimizing tenant disruption, ultimately increasing profitability for property owners.
3 elements critical to successful commercial leasing:
- Advertising – Ensuring broad visibility for the property, both locally and online, with effective signage, photos, and listings.
- Pricing – Conducting market surveys, analyzing data, and having strong local knowledge to set competitive rental rates.
- Relationships – Maintaining strong connections with local brokers and agents to facilitate better leasing outcomes.
Crown Commercial's expertise in these areas and their personalized approach to property management make them the best choice for commercial property management in Los Angeles.
Contact Crown Commercial Property Management today to maximize the value of your Los Angeles commercial property through expert management, proactive maintenance, and strategic leasing.