Commercial Service Agreements

 - Commercial Service Agreements -

As you know, commercial real estate requires a lot of servicing in order for the property/facility to properly be run and managed.  once an investor gets over in my opinion eight plus units/tenants, it is prudent to hire a commercial management company through commercial service agreements.  One of the goals of investment real estate is to reduce your personal management of a property, not run the day-to-day operations and enjoy your life and do the things most important to you and your family.

Commercial property management entails such things as tenant marketing, rent collection, monitoring, management, administration, evictions, accounting, maintenance, etc...  To a novice investor/property manager, this can be overwhelming to say the least.  This is why a commercial property management company/service agreement is advisable.  A great way to locate a qualified manager or management company nationwide is through the Institute of Real Estate Management (IREM) www.irem.org  Here you can contact different companies and mangers based on your investment management needs.  There are several different levels of management certification levels based on your property size and complexity of management.  Below are listed IREM's certifications.

CPM - Certified Property Manager

ARM - Accredited Residential Manager

ACM - Accredited Commercial Manager

AMO - Accredited Management Organization


Thanks for reading!

- tj -
www.commercialbloggers.com
www.coremarqllc.com

Re-Tenanting

 - Re-Tenanting -

In some cases during the life of a commercial retail property it might need to be re-tenanted in order to increase it's revenue and attract additional quality tenants to the available spaces.  Re-tenanting can be as simple as moving tenants around into the proper spaces in order to fit their use or be more complex as in re-leasing national "big box" vacated spaces such as Circuit City, Linen-N-Things, etc...  

Re-tenanting is basically seeking the highest and best use for both the property's owners and the retailers.  By properly assessing a property's retail uses already filled and spaces that need to be occupied, will help owners and leasing agents identify which tenants will be the best fit for their re-tenanting efforts.  Thanks for reading!

- tj -
www.commercialbloggers.com
www.coremarqllc.com