Tips for Hiring a Houston Property Management Firm
February 26, 16
Owners of office buildings in Houston face many challenges in finding and keeping long-term tenants. To take over most of the burden, it's often a good idea to hire a Houston property management firm to handle the day-to-day operations. Property management services provide a host of benefits, including the most important one of making your buildings more profitable.
How to Find the Right Property Management Company
1. Consider your budget and think about the costs of hiring a property management firm. On average, property management firms charge 5% to 10% of a building's rent revenue. You need to make certain you can afford the services of a property management company.
2. Look a property management firm that specializes in commercial properties. A company with experience in managing office space will do a better job that a company that manages residential properties.
3. Look for a Houston property management company if you have commercial properties in the city and/or surrounding areas. You will want to work with a property management firm that has the staff to take care of all your commercial properties in an efficient manner.
4. Ask colleagues for recommendations of Houston property management firms and use search engines and social media to create a list of these firms. After researching each company, meet with those on your short list. Ask many questions to understand what types of services are offered and how the process works. After doing your due diligence, hire the company that meets your requirements.
You only want to work with a reputable property management firm with years of experience and a good track record. With the right firm managing your office space, you have a healthier cash flow and few worries. For more information on managing commercial real estate, contact us today.