So you’ve decided to invest in commercial property…perhaps a shopping mall. What will you do next? Many investors are faced with that difficult question. When reality sets in, the task of maintaining and managing a commercial property can quickly become overwhelming for even the most savvy investor. That is when they employ the services of an experienced commercial property management company.

What can a company with experience in commercial property management do for you?

1. Collect all rental payments and deposit them into your account.

While collecting monthly rent from your tenants is often a challenge, a good property management company already has its own systems in place to ensure that rent payments are collected when they should be so as not to affect your cash flow.

2. Know what competitors charge.

A really competent commercial property manager monitors the rental rates they’re charging to make sure they’re priced right for the area. This can be a key factor in securing and keeping good tenants for you.

3. Know all relevant real estate laws and statutes.

Commercial property managers stay on top of important laws related to your property to ensure your real estate is up to code.

4. Be a marketing expert.

An experienced property manager is a master at handling all of today’s online and offline advertising and marketing opportunities to promote your property. These strategies will keep vacancies to a minimum.

5. Be thorough in inspections.

The commercial property manager you choose should be vigilant in maintaining your property through regular inspections. It is important that you find and fix any problems before they become a bigger problem before, during and after your tenant takes possession.

6. Have a proven ability to keep occupancy rates high.

This can be time consuming for a manager, so make sure you have the availability, staff and resources to handle this important service. A good property manager will take care of securing the right tenants for your shopping center by running all background/credit checks, credit reports, etc.

7. Have great resources.

Experienced property management companies have spent time over the years building important relationships with vendors, contractors, maintenance workers, etc. who can save you time and money when making changes or repairs in your shopping center.

8. Be a time management genius.

Hiring a good commercial property manager to handle all the details related to your center frees up your time to focus on other endeavors. Look for programs used by your prospective managers to indicate that they value their time and use it well. This will mean more efficient and ultimately effective administration of your program.

9. Being able to manage properties anywhere.

Because you can’t efficiently monitor your commercial properties that are located outside of your geographic area, an experienced property management firm with multiple offices or affiliates can make your life incredibly less complicated.

10.Financial Management.

Most commercial property management professionals also help you with your financial management strategies and charge investors a percentage of the property’s monthly rental fee, typically 3.5% to 6%. Smart investors realize the benefits of a good property manager and are happy to pay this fee.