Managing your own rental property comes with a lot of responsibilities, one of them being finding quality vendors to do the work around the property. It takes a sound network of vendors to deliver services to your tenants while also keeping your property operating smoothly. As a property manager or landlord, you will need to hire vendors for a variety of services such as landscaping, plumbing, electrical, pool maintenance and more.
Vendors basically represent you, so they have to be reliable and they have to be excellent at what they do. With so many companies and contractors providing maintenance and building services, it can be difficult to tell which one will get the job done right. It is never a good idea to choose a vendor based strictly on price. In the long run, you might end up paying a higher price if they do not get the job done right or at all.
Here are some tips to help you select the right vendor for your business.
5 Vendors to Keep on Speed Dial
In property management, a vendor is a company that provides specific services related to the purchase, renovation, upkeep or management of your properties. There are many vendors that your business likely relies on but a few stand apart. These companies are valuable partners in the operations of your business.
Residential and commercial properties have unique needs. Many of the responsibilities of managing commercial properties may seem the same as those faced by residential property managers but that doesn’t make vendors interchangeable. Your commercial property should be tended to by skilled professionals who understand the unique challenges of commercial properties.
Here are five commercial property vendors that you need to keep on speed dial.
1. Property Management Firm
One of the most important commercial property vendors you can have is your property management firm. Property management means that you hire someone else to run a property you own for you, handling the day-to-day tasks that keep your investment prospering. A commercial property manager handles non-residential properties like offices, retail spaces, storage facilities, shopping centers and industrial buildings. Like residential property management, commercial management encompasses the tasks and responsibilities of operating an income-producing property.
Many property owners choose to engage a commercial property management firm to ensure all the day-to-day details of operating a commercial property are handled competently. The management firm is usually granted authority to make decisions that impact the amount of income the owner derives from the property. In many cases, the right management can result in a lower turnover of tenants as well as securing the best possible rental rates for the space.
Commercial property management involves being able to prioritize and execute a wide array of tasks such as the advertising, marketing and leasing processes. Property managers of commercial spaces must keep meticulous administrative and financial records, and keep all applicable maintenance, taxes, mortgages and insurance updated. They ensure rent is collected, and respond to tenant needs and issues.
2. Commercial Pest Control Services
Every building, whether it’s a home or a business, eventually has to deal with pests. To combat the presence of pests, there are many accessible pest control solutions available that allow building occupants to deal with pests on their own. That being said, however, some pests require the professional attention of commercial pest control services to deal with.
Prevention is just as important and thorough property managers know that maintaining a good relationship with a reputable pest control service can stop unwanted visitors. Commercial pest control experts do just as much outside as they do inside. Stopping pests from entering the premises means no infestations and no downtime for tenants.
Commercial properties need a custom approach to pest management. Homes tend to have little variation and therefore residential properties are susceptible to similar issues. Commercial properties include warehouses, retail, office space, restaurants, and more. Choose a commercial property vendor that is experienced and knowledgeable.
3. Landscaping and Snow Removal
From roadways and parking lots to pathways and sidewalks, you need to ensure that surfaces are clear of hazards so that workers, residents, clients and employees can safely access facilities. If your property has any greenery at all, you will need lawn care and mowing, monthly weeding and detail service, spring and/or fall cleanups, edging and mulching, trimming and pruning shrubs, and seasonal flower installation.
While most California cities avoid the yearly snow season, those mountain cities that do get snowed on will need snow removal services. Aside from keeping the exterior of your property looking its very best during the warmer growing months, efficient and responsive snow removal services are critical to keep your property fully functional in the winter season. From light to heavy snowfalls including icy conditions and blizzards, you need a team to maintain the safety and traffic flow of your property!
4. Commercial Cleaning Services
If you own or manage a commercial property, you have quite a bit of work on your hands on any given day. The burdensome task of cleaning and disinfecting does not need to be one of them. Because commercial properties can vary substantially in their use and function, each property requires a customized cleaning program that is specifically designed for the needs of the facility. Look for vendors that can do the regular maintenance such as cleaning washrooms, floors, and sanitizing items that are touched often along with specialized jobs such as dryer vent cleaning, exterior pressure washing, garbage chute cleaning, and more.
5. General Contractor
A commercial general contractor may be an individual or a Construction company, who has the knowledge, experience, and professional standing to take control, conduct, and complete large to substantial commercial construction projects. General contractors work with plumbers to keep your system operational and prevent flooding. They can keep sewers and drains clear to stop water from getting backed up and causing damage. Plumbers can also install new fixtures to keep your property up to date and functional.
The HVAC system on your commercial property needs to be maintained by a subcontractor as well. These professionals can keep ducts and heating as well as cooling units clean and functioning properly. They can conduct regular maintenance to extend the life of your furnace and air conditioning unit and they can make repairs and replacements as needed to keep your property in working order.
All electrical work should be handled by a professional. Your general contractor should know quality electricians that can repair problems with the existing electrical systems on your property. They can also make changes and install new switches, outlets, and fixtures as needed.
The roof on just about any property should be inspected regularly and replaced before water starts getting in. A quality roofing company can save you a lot of hassle and money. A good general contractor would know when your roof is due for replacement and they will have the right roofing company lined up for you,
The commercial general contractor is responsible for overseeing and managing the entire construction from its starting stage to the final finishing stage. They take control of the entire project and are responsible for managing all construction phases and related activities. They take care of each bit and parcel of the project and make the construction complete with all the necessary building components like civil works, electrical and plumbing works, interior and exterior decoration, landscaping, and installation of all the HVAC and safety installations.
Why Choose IPA Commercial Real Estate?
Choosing the right commercial property management company can make real estate ownership a breeze. For people who own commercial and industrial properties, working with a respected property management company can be a great resource. With 30+ years of experience in the Inland Empire, the experience of the IPA Commercial Real Estate team provides a depth of knowledge regarding maintenance and project costs.
Just like management in any other business, a respected management company can monitor the care and financial requirements of any property. We can also help evaluate your rent structure. IPA Commercial Real Estate very focused on client properties and tenants and we have the skills and knowledge to make your ownership experience easy and pain-free.
We offer 24/7 Service from our team day or night! Call IPA COMMERCIAL REAL ESTATE at (951) 686-1462 to discuss how we can help you. Let us show you how to add value to your property.