Property management can be a very lucrative business, especially when you’re leasing commercial units to successful corporations and independent businesses alike. However, there is also a great deal of responsibility attached to property management that you need to be ready for before you start a business of this kind. If you plan to lease commercial properties to tenants as the next step in your property management business or plan to start one that leases these properties exclusively, here are some tips to keep in mind.
Make sure that these buildings have excellent security measures in place so that anyone working in the building you own feels safe. CCTV and alarm systems are a must, but you should also look at hiring security guards to be on-site 24/7 too. They can help to carry out checks on the property throughout the day and night, which can deter thieves or other potentially harmful people from entering the building. You should also consider having restricted access to certain office spaces or retail units. Employees of the businesses that are leasing these spaces from you should be the only ones allowed to access these offices/retail units, as well as officials from the property management company you run. Provide key cards or fob keys for each unit to help restrict access to these areas and make them safer.
Health and Safety Measures
As well as keeping your commercial properties secure, you’ll also need to carry out regular health and safety checks to make sure that your buildings comply with legal health and safety regulations. This includes clear fire exits/escapes and fire doors, ensuring that no harmful construction materials have been used in the building, and rectifying this issue if there has before leasing these spaces. You will need to check elevators or escalators are working properly and going under regular risk assessments as part of maintenance. Having fire extinguishers in the building is also a must, as well as adequate signposting for dangerous areas, restricted access zones, wet floors signs, electrical hazards, etc.
HVAC companies can help you make sure the temperatures inside your buildings are at comfortable levels. Maintenance work on your central heating systems in your commercial buildings is a must, as, during colder months, you want to make sure that your tenants and their employees are comfortable and not catching a chill or getting ill when they are working. Similarly, if your commercial building is being used for refrigeration purposes, you will need to contact refrigeration companies and find a suitable service that can ensure all of the refrigeration systems are working as they should.
The same is true for the summer season when employees might be facing heat waves which can make their working environment very uncomfortable as well. To combat this, contact commercial air conditioning installers and get some quotes for cooling systems from commercial air conditioning installers that you can put in your commercial properties.
Finally, you want to make sure that the properties you manage are kept clean. Hiring cleaners to come and work when your tenants have clocked off for the day can help to keep these properties looking great every day and meet basic hygiene needs. Having cleaners on-site during daylight hours is also worthwhile, especially if you’re managing large properties, as this will help them to keep on top of this work.
If you’re getting ready to lease and manage commercial properties, remember these tips to help cover your bases.