Commercial property owners often decide to use a property manager or management team to take care of their properties. This can be especially true if the owner has a number of properties to manage, lives far from the property or just does not want to deal with the headaches that come with running a property. Many tasks must be handled for a property and sometimes the best person to handle this type of job can be a professional manager. A commercial property manager, such as Anwar Barbouti, will act on an owner’s behalf and take care of the property. They are paid according to various commercial property management fees that are charged to the owner.
Property management work can cover a variety of functions. Some managers handle all transactions relating to the property, while others may only take care of a few. This choice is something that the owner generally decides and works out with the manager or management team. One of the main tasks that most handle is collecting monthly rents, dealing with nonpayment issues and either depositing the money or forwarding it to the owner. Property managers also may handle the advertising, checking and interviewing of new tenants. A property manager may also be in charge of dealing with maintenance issues, preparing budgets and other issues.
Because there is such a wide assortment of functions, commercial property management fees can vary a great deal. In some cases, the fee may be charged based on a percentage of the rents paid for the property. Others may charge a flat rate per property they manage. In addition, other services may breakdown their fees into charges for getting a new tenant, setting their account up, and then a separate fee for maintaining and managing the account with the tenant afterwards. They may also charge separate fees for handling maintenance issues and other tasks. Some management companies will also charge a fee even if the property is vacant. The way commercial property management fees are set up really depends on the company being used and the needs of the owner. It is therefore very important that both parties discuss this issue fully, before the company is hired.
A property manager or management team can be a great asset to an owner of a property. They can handle an assortment of tasks and this can make life much simpler for the owner. Before the company is hired, it is best for both parties to come to an agreement on the types of commercial property management fees that the company will charge to the owner.