When you invest in commercial real estate, you do not necessarily want to be involved in every aspect of managing those properties Commercial property managers oversee the day-to-day operations of buildings and complexes, such as malls, industrial units or office  buildings. Their duties typically include collecting rent, negotiating leases and supervising the maintenance activities. Commercial real estate management is anything but passive, and there is a significant amount of work that must be done to keep the investment in good working order.

In order to decide if you need a property manager, it is first important to understand what they are and how to spot a great one.

What is a Commercial Real Estate Property Manager?

Commercial property managers have the responsibility of overseeing and directing operations at properties, ranging from office buildings to retail spaces to industrial units. They will show spaces to potential lessees, maintain lease agreements and they will collect and process rent checks. They will also manage the daily requirements of these properties, which include custodial tasks and maintenance. This is a role that demands the ability to resolve customer service questions successfully, a high level of organization and an efficient point of contact for building owners and tenants.

What Does a Property Manager Do?

For simplicity’s sake, a property manager’s responsibilities can be divided into two buckets: operations and finance.

Operations

A property manager’s operational responsibilities are all about keeping the property running smoothly on a day-to-day basis. Depending on the property type, this could include things like:

Managing Tenant Issues

Your tenant communication plan is what will improve your relationship with tenants by responding quickly and resolving issues fairly. If a tenant has an issue, needs a repair, or has a specific request, it is the property manager’s responsibility to take care of it.

Managing Tenant Occupancy

An experienced property manager has dealt with hundreds (if not thousands) of tenants and generally know how to select applicants who will pay the rent on time and cause fewer problems. They know what type of tenant is most compatible with your property and will advertise space availability in a way designed to attract these parties. Professional property managers have considerable marketing and advertising expertise in both print and digital channels.

Staffing the Property

Larger commercial properties may have concierge staff, cleaning crews, and security personnel. If you purchased this type of investment property, the property manager would ensure that these employees are carrying out their duties as required. They may also hire, pay, and even terminate these employees. If the property requires full time staff, the property manager is responsible for finding and training the onsite management team including an assistant property manager, maintenance staff and accounting staff.

Preventative Maintenance Plan

Preventive property maintenance is the important task of managing regular inspections and repairs while equipment around the property is still functioning properly. The goal of preventative maintenance is to prevent expensive system failures and repairs before they happen. Also, catching problems early helps keep maintenance costs lower and reduces the risk of accidents.

Upgrades and Maintenance

As a property ages, routine upgrades must be made to HVAC, plumbing, and electrical systems. This will extend the useful life of the property and ensure it remains in good working order.

Maintaining and Replacing Landscaping

Commercial property landscaping is an essential part of a commercial property. It is the first thing that a customer will see when they come to visit  the project and it can make all the difference in how they feel about the businesses in the project. The right landscaping can create the perfect atmosphere for productive work, while a poorly laid out design could make  customers feel unwelcome and want to leave as soon as possible.

 Responding to Emergencies

Unfortunately, emergencies happen—a pipe bursts, a storm causes damage, or the power goes out. The property manager is responsible for responding to these types of events and keeping the owner updated about the status of necessary repairs.

Evictions

Evictions usually start with a notice period in which both tenant and landlord can either negotiate terms regarding payment or simply avoid dealing with each other entirely. If negotiations fail and the property manager or landlord does not agree to a cancellation of the eviction, they will obtain the services of an attorney before going to court. It is important for property owners to remember that going directly into an eviction without using any legal methods first may result in a dismissal of their case against the tenant.

Finance

The other major bucket of responsibility for a property manager is overseeing the property’s finances. This includes activities like:

Rent Collection and Processing

Having a good rent collection process and tool is essential if you want to run successful commercial rentals. It’s not enough to just collect a check each month, commercial tenants expect a high level of professionalism and as such it’s a good idea to explore the modern property management software solutions currently available for commercial property managers.

 Late Payments and Other Fees

As with managing any real estate, late rent payments can cause cash flow issues and negatively impact your investment’s potential.

Budgeting

Each year, the property manager is responsible for setting the property’s operational budget. To do so, they need to work with the property owner to ensure that the financial performance of the property tracks as closely as possible to  the investor’s financial projections.

Essential Skills Needed by Commercial Property Managers

 The property manager is working with a client for the long term on a variety of complex things.  They may be working on a number of issues for months if not years in the case of property upgrades, renovation and refurbishment works.

So what skills should a good commercial property manager have?

Excellent Communication Skills

Tenants and landlords must be able to easily reach the real estate manager for any non-emergency or emergency related issues. Therefore, a commercial property manager must possess excellent communication skills. It can be challenging to keep the lines of communication open when email inbox is full and phones are ringing. The environment can also be very stressful. It is the job of the property manager to be able to communicate concisely and clearly, both in writing and verbally.

Organized and Detail Oriented

Property managers, in general, collect rents, and they need to ensure that every rent is paid and posted to the account of the tenant as received. They need to keep financial records that detail each and every transaction made. Rent increase letters, lease renewals, and expiration, as well as rent invoices, should be  delivered on time. A skilled commercial property owner is able to keep site files organized, prioritize assignments and repairs and can multi-task.

Problem Solving 

Property managers are constantly dealing with unexpected issues that pop up during their days. In order to maintain control over the chaos that can arise, a critical skill the modern property manager needs to encompass is the ability to quickly and confidently solve problems – all while remaining calm and collected.

People Skills

As a commercial property manager deals with a lot of different people all the time. Therefore, the ability to work well with every individual is a vital skill that every property manager must possess. They must have a positive attitude, friendly and excellent customer support and service skills. This is also important to establish lasting relationships with new and existing tenants and clients. Property managers must be reasonably tolerant, patient and can handle issues and respond to service requests and complaints in a rational and positive manner.

Strong Sales Skills

It’s not all burst pipes and site tours. When all is said and done,  a property manager will constantly be selling  personal value as a property manager and the value of your property in marketing strategies, in meetings, and all  relationships.

Vendor Management

A property manager is in charge of managing vendor relations, from setting clear expectations to ensuring that all work has been completed. They are also responsible for coordinating vendor payment.

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.

 

 

A well-designed commercial building sign for your business is one of the most effective methods to advertise your business and attract more customers. Exterior building signs provide a way for people to identify your business location quickly. They can explain the services you offer, locations, contact information and business hours. The enticing outdoor building sign can incorporate business logos, color schemes, eye-catching graphics, and advertising to promote your brand. Since commercial signs are affordable and the return is extremely large and it is a smart investment for any business that is serious about succeeding.

Choosing the right type of custom sign for your building is crucial. But what kind of commercial building sign do you need for your business?  Your business location may have ‘Sign Criteria’ that has been approved by the Landlord and the City or County.  You will need to abide by the requirements of the Sign Criteria and the local government, and in most cases will require prior written approval by the Landlord.

What Does Effective Signage Involve?

The point of a sign is to inform potential customers about your business. You want to put up a sign for your company that includes its name because then customers would know the basics about your business. Similarly, you should incorporate a word or two that describes your business. A straightforward addition such as “nail salon”, “clothing store” or “restaurant” will tell potential customers what to expect when they step inside.

Legible fonts and colors along with tactile letters make your signs accessible. Choose contrasting colors and tones to make the wording pop. Without high contrast, it will be challenging to read your sign up close, let alone far away. A professional business sign designer will help you create effective signage for your business following these and other guidelines. They may also help you ensure that your sign can go up without violating regulations and building codes.

If you are not sure what that means exactly, some of the factors that come into play include the following:

• Clearly advertises your business and services provided
• Tells potential customers where to find your business
• Is easy to read for anyone

Commercial Sign Locations

 Exterior Commercial Signs

Displaying your commercial sign on the exterior of your building or business location is the first step in advertising your business and portraying yourself as a reputable company. Exterior commercial signs are one of the most effective ways to advertise and create a professional appearance.

Commercial business signs properly mounted to your business location work twenty-four hours, seven days a week for you and your business. Your business is continually being exposed to current and future clientele. All businesses, small and large, are in need of quality commercial signage and offer the best commercial signs on the widest selections of sign materials at the best prices.

Interior Commercial Signs

While signage on the outside of the business is essential, because you need to be seen by potential customers passing by your brick-and-mortar location, interior signage is important, too. Depending on your type of business, interior signage will help your customers navigate your business, decide on what to purchase, and may even present a safety net against legal issues.

Interior signs come with many shapes, sizes, and purposes.

The types of interior signage are:

• Directional/Navigational signs – these help customers and staff find their way around the business by pointing to various departments or sections of your physical location.
• Directory signs – not to be confused with navigational signs, these are used for buildings or developments with multiple tenants like a medical office or law firm.
• Point-of-purchase signs – a marketing tool specifically created to draw attention to specific products. It can also advertise services you offer as well as other special deals on offer at a given time.
• Mall signs – similar to directory signs, these are meant to be used within buildings to identify certain regions or stores. These signs have many advertising spaces available.
• Regulatory signs – meant to reinforce rules, regulations, and laws. Stop signs are regulatory signs. Although not every business type is required to install regulatory signs, you might want to put these up on toilets, places where chemicals and/or heavy and dangerous equipment is stored, or for marking off places like priority seating or handicapped spaces.

Any instructive signage inside your business is a huge plus. Arrows pointing to the bathroom, for instance, can save everyone from a world of confusion. Easy navigation that is concise and highly visible is going to increase customer satisfaction because they can find what they are looking for quickly and will entice them to come back in the future.

6 Common Types of Commercial Signs

While there are many different sizes, styles and uses for commercial signs, not all of them are relevant to property managers. Below are 6 types of commercial signs that are regularly used by commercial properties and facilities. Property managers can learn how each type of sign is constructed, including common materials, typical uses for each, and property types that regularly use each type of commercial sign.

1. Pylon Signs

Pylon signs, also known as pole or freestanding signs, are outdoor signage that is usually mounted on single or double poles. Pylon signs can be one-sided or double-sided, depending on the direction the sign will be facing. You may also see pylon signs that are illuminated or have other elements, like an LED message center.

A single business will often have pylon signs that feature a single lightbox with the company’s name and brand logo on display. Pylon signs that are found at shopping centers or malls will have several lightboxes built into the sign, and the base is often similar to the overall architecture of the plaza. These signs might have brick, stone, or metal elements.

 Where Are Pylon Signs Commonly Used?

Pylon signs are commonly used at properties to increase visibility. They are an extremely common type of commercial sign and often food along major roads and highways. Properties that regularly use pylon signs include:

• Retail strip centers
• Car dealerships
• Hotels and motels
• Shopping malls
• Restaurant chains

2. Monument Signs

A monument sign is a ground-level sign that a driver notices or a person passing by can easily see the business information. It is typically made from brick and mortar construction, stone, stainless steel, plastic, or other durable materials. Building monument signs are typically at the entrance to a parking lot or close to the main entrance. Apartment monument signs create an excellent first impression of the complex. Commercial monument signs can also have LED displays or lighting to capture attention.

Where Are Monument Signs Commonly Used?

Since monument signs come in all shapes and sizes, they can work for almost any property. In fact, they are one of the most common types of commercial signs at both multi-tenant and single tenant properties. Properties that regularly use monument signs include:

• Office buildings
• Apartment communities
• Condominium complexes
• Industrial parks
• Corporate campuses

3. Channel Letters

A channel letter sign is a three-dimensional graphic element with an individual structure and separate illumination. In simpler terms, a channel letter can be any letter, number, or other character that, when combined with other like characters, makes up a sign presentation. Each letter is made using aluminum sheeting, and acrylic. Channel letter signs are highly flexible, and can be made using a wide variety of fonts, colors, and sizes.

Where Are Channel Letters Commonly Used?

Channel letters are another extremely common type of commercial sign. They are used heavily in retail spaces and by corporate brands. Properties that regularly use channel letters include:

• Retail centers
• Freestanding retail stores
• Hotels and motels
• Shopping malls
• Office buildings
• Restaurant chains
• Corporate headquarters

4. Post and Panel Signs

Post and panel signs are considered monument signs and are always freestanding. Post and panel signs are defined by their two main components — the post and the panel. The panel is the face of the sign itself, and the posts are what houses it or holds it up. In most cases, these signs consist of two posts with a single flat panel in between them. Typically, they are very economically designed and use materials like wood, vinyl, aluminum, or metal.

Where Are Post and Panel Signs Commonly Used?

Post and panel signs are one of the most commonly used types of commercial signs. They are extremely versatile and can be found at almost any type of property or facility. Properties that regularly use post and panel signs include:

• Distribution centers
• Apartment communities
• Condominium complexes
• Industrial parks
• Corporate campuses

5. Blade Signs

A blade sign attached to a building’s facade is a great way to attract more customers. The blade sign projects from the building and is mounted perpendicular to the building’s wall. Because the signage is highly visible on a sidewalk, it can result in more foot traffic for your business.

Where Are Blade Signs Commonly Used?

Blade signs are frequently used in urban areas and indoor shopping malls because they are an excellent way to attract attention and foot traffic to a property or business. Other properties that regularly use blade signs include:

• Retail centers
• Urban retail storefronts
• Hotels and motels
• Shopping malls
• Outlet malls
• Restaurant chains

6. Electronic Message Center Signs

An electronic message center (EMC) is a sign that displays words, symbols, figures, or images using LED lights that are electronically changed by remote or automatic means. They allow you to capture the attention of the audience passing by your location on a daily basis and dispense information with messages that are easily changed. These signs are well-known for being flexible, adaptable, dynamic, and most importantly, effective in advertising your business.

Where Are Electronic Message Center Signs Commonly Used?

Electronic message center signs are regularly used at properties that want to convey frequently changing information. This is because electronic message center signs can be regularly updated and changed, unlike signs using dimensional letters or graphics. Properties that regularly use electronic message center signs include:

• Shopping centers
• Schools, colleges and universities
• Conference centers
• Retail centers
• Freestanding retail stores
• Bank branches

Why Choose IPA Commercial Real Estate?

Before installing signs, you are responsible to be sure you are following local guidelines—applicable codes or rules for the area you are in. Your sign specialist may be able to help here. And we recommend selecting a company that is knowledgeable about local rules and regulations. That way, it could ease up some of your job.

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.