Tips for Choosing a Property Manager for Your Commercial Property

Tips for Choosing a Property Manager for Your
Commercial Property
Investing in commercial real estate can supply a lucrative revenue stream, but choosing the right
property manager is crucial to your success. In order to draw the largest return from your
investment, you will need to align yourself with a property manager who understands your
investment goals and how you would like your property managed. Here are some tips to get you
started:
When it comes to finding a commercial property management company, Calgary, Edmonton,
and investors throughout North America need to know where to start their search. There are
some preliminary questions you should ask before you sit down to start talking seriously about
how they would manage your property. This is what you need to find out, right from the start:
are they licensed?
what type of experience do they have, or which types of properties have they managed?
how many years of experience do they have?
are they willing to show you references from other clients?
Really, if the answers they provide to any of the above questions don't seem satisfactory, or they
aren't willing to show you references, move on. There are many property management teams to
choose from.
Next, you will want to ask them how, as the managers for your property, they would approach
the following:
setting monthly rents
collecting rents from tenants
performing maintenance on the properties and any necessary repairs
performing property inspections
attracting and keeping tenants
screening tenants
In addition to these questions, it's also important to find out about their management fees and the
type of contract that they require for you to retain their services. If the fees are too high, they will
cut into your return, and some contract terms may not make sense for your investment.

Finally, it's well worth it if you take the time to meet with more than a couple of property
management companies. Choosing the first company you meet gives you nothing to compare
their services, contract or fees to, and there could be another property manager who's service
offering or fees are more in line with your investment or business style. If you live in the
Edmonton or Calgary area, a reputable company is Group Three Property Management Inc. They
have several years of experience managing residential and commercial properties and a long list
of satisfied clients to tell you about their positive experiences.