Unless you’ve actively managed a commercial property or have experience dealing with tenants, then you may not realize just how tricky it is to manage a property successfully. The truth is the skills that make you a successful property investor may not be applicable to the requirements needed for management.
Even if you have the skills, for whatever reason you may not want to take an active role in property management. Selecting the right firm to handle your investment is one of the most important decisions you can make. The best option is to hire a specialist that can handle the job actively and aggressively. This will not only protect your property, but can also help make it more profitable.
Certification and Training
In the state of Colorado, property managers must have an active real estate license. They must also undergo specialized training that covers the fundamentals. Make sure that the company you hire has a program in place to ensure that Colorado rules and regulations are not just met, but that they are exceeded.
Property Experience
There is no substitute for practical experience when it comes to managing a property. However, it’s not just years of experience; it’s the type of experience as well. Does the company you are considering have experience with properties similar to yours? How heavy is their portfolio? Will they have the resources to dedicate qualified specialists to fulfil your needs?
Reputation
While you can find out a lot about management companies by consulting online sources and rating organizations such as the Better Business Bureau, there is no substitute for personally meeting and talking. Reputable property management firms will be happy to provide you with references so that you can get insight into what working with them on a day-to-day basis will be like.
Contract Terms
While price isn’t everything, you should carefully consider the contract terms of the firms who are vying for your business. Current prices should be clearly laid out, as well as what services you can expect. A great deal goes into successful property management, so you need to be clear up front what your expectations are.
As you entertain choices for your Denver Commercial Property Maintenance requirements, we ask you to consider Katchen Company’s high level of skill and experience which resulted in the distinction of being awarded the Class “A” Contractors License, the reputation built and maintained for over 50 years of operation, and our firm commitment to continually exceed the expectations of our clients. It’s a good idea to also look to the future to determine how your needs might evolve.
