What Will Investors Need Houston Property Management Firms in 2016?
January 26, 16
For just about everyone, the beginning of a New Year is time for:
• Considering all the factors influencing your industry, and
• For goal setting, planning and strategizing
Unfortunately, if you're like most commercial investors, the oil slump hasn't gone unnoticed to you. In fact, anyone that thinks of Texas often thinks of the oil industry; (one of our biggest markets). However, though the oil slump will obviously affect the commercial real estate industry, there are some positive things slated to occur in 2016 that can open up new opportunities for Houston investors.
Panama President Juan Carlos Varela recently announced that he believes the Panama Canal expansion will be complete in May 2016. Expansion of the Canal will benefit Houston's shipping channel and create more trade and employment opportunities; and
Several new petrochemical plants will open on Houston's East Side this year creating commercial real estate investment opportunities in the:
• Multi-family market,
• Industrial market, and
• Retail market
In addition, experts believe the new petrochemical plants will create thousands of new jobs.
Ideas for 2016
There are several things you can do to make 2016 a stable and even rewarding year for your business.
Keep your existing, paying tenants happier than happy. Nothing is better than money in your pocket. Just in case the market changes in a way that makes it hard to entice new tenants, you should already be doing everything you can to keep your current tenants beyond happy. This means:
1. Providing them with a customer service experience they can't possibly find anywhere else;
2. Providing them with deals and discounts whenever you can; and
3. Making their interactions with you as convenient as possible, (with full mobile integration and fast, courteous service).
Invest where the market is growing. If you're entering a new investment deal, (at least for 2016), consider:
1. The industrial market throughout Houston, and
2. The residential, industrial and retail markets on the East Side, (or that are convenient to the East Side)
Contact us today! At LandPark Commercial, we are one of the best Houston Property Management Firms in the business. We understand Houston's commercial real estate market and help our clients find success in it every day!