Why You Should Hire a Landlord Representative
January 23, 18
Owning and managing a commercial real estate investment property can be a great investment as it can provide you with a great return on capital through interim cash flow and long-term value appreciation. While it can be a great investment, owners of commercial real estate properties will need to make good business decisions and follow a proper strategy in order to maximize value. For commercial real estate property owners, one great decision would be to hire a professional to provide landlord representation services. A landlord representative can provide a range of different valuable services to a property owner.
Strategic Analysis
One service that a landlord representative can provide is a strategic analysis for your asset. All real estate assets are different and need to have a strategy and plan curtailed to the asset quality, type of asset, and local market. A landlord representative will be able to analyze your asset, the local market, and other current information to develop a plan for marketing, capital expenditures, and overall repositioning of the asset.
Relationship Management
A landlord representative will also be able to help you by leveraging relationships that they have with other professionals in the area. A Houston area landlord representative will have a lot of existing relationships with brokers, leasing agents, potential tenants, lawyers, and other vendors. They will be able to utilize these relationships to help negotiate contracts, leases, and other agreements for you. This can help you to maximize revenue and manage your operating costs.
Tenant Analysis
A landlord representative can also help to provide analysis on your potential tenants. While filling the property is important, you also want to make sure that you have quality tenants. A landlord representative will be able to perform detailed analysis on each tenant to make sure they are able to afford the rent payment and have a good reputation.
If you own or manage a commercial property, you should contact us today to learn more about the services that LandPark can provide to you.