Commercial property managers have an extensive list of responsibilities, from providing clean and functional interior spaces to maintaining high-quality curb appeal that draws in new tenants, keeps employees happy, and helps limit property liability.
While these are all critical aspects of commercial property care, there are some common pain points that property managers deal with regularly across several types of public and commercial spaces, such as retail space, class A office space, hotels, industrial facilities, and more.
5 Common Pain Points for Property Managers
While most commercial properties have challenges unique to the industries they are serving, there are a few common issues when it comes to property care:
- Maintenance – When you think of all the minutiae that comes with commercial property maintenance, the devil is in the details. There is a never-ending stream of regular tasks and new issues to resolve as well as preventative measures to be taken. If property managers are working with greenspace vendors and contractors, it’s crucial to find partners they can trust to inspect, perform the work, and advise on general best practices in their area of expertise.
- Budget Planning – When unexpected costs arise, it can wreck budgets, hurt bottom lines, and affect tenant satisfaction. Property managers work hard to keep costs in check and forecast anything that may come up during a regular budget cycle, but it’s impossible to avoid these surprises every time. Looking at outdoor spaces as an example, property managers can focus on preventative maintenance, a solid contract, and partners who know what to do when things go awry can help ease the pain of situations such as storm cleanup.
- Communication – Open lines of communication are vital for property managers. It boils down to trust, and the knowledge that there’s someone there who will pick up the phone and help you solve the problem or answer your questions. Even when a landscape vendor performs a variety of services on your property, having a single point of contact is critical to get things done quickly and effectively.
- Vendor Accountability – Property managers don’t have time to deal with cleaning up messes caused by vendors. Getting things right the first time, and on time, is a must-have. Even if mistakes are made, managers need a partner who will accept responsibility, offer a solution, and move forward to make things right.
- Time Constraints – When any of the above pain points show up on the radar, the first thing that property managers lose is time. And any issue that pops up takes away from the full slate of daily tasks for the property manager. A good partner is committed to quality that means going beyond getting the work done well and on time.
Common Threads
For commercial property managers across the U.S., these priorities, problems, and expectations are similar regardless of market. Commercial property management is demanding, and there are new challenges every day. Choosing the right partner is a critical step in making sure your property is running smoothly.
