Owning a commercial property in Perth is a lot of work, which is why many property owners rely on commercial property management companies to oversee their property.
But what does commercial property management involve, and is it right for you and your property?
Commercial property management is the process of maintaining a commercial property such as an office, warehouse, or retail outlet. A commercial property manager will ensure the property is kept in good condition and continues to produce income through operations and lease payments.
The main responsibilities of a commercial property manager in Perth revolve around financial services and managing operations, which we have summarised below.
A lot of time and effort goes into ensuring a property can function efficiently and provide the best return. Some of the key tasks in managing the operations of a commercial property in Perth include:
Commercial properties often see a large amount of income and outgoings in various forms.
To keep track of it all, property management companies will provide accounting and financial services to assist the property owner come tax time.
These services include the following:
Property management is invaluable to a busy property owner who doesn’t have the time or resources to regularly attend to their property. If you’re an investor, property management services will help to maximise the return on your investment.
This is especially useful in large Perth commercial strata sites where the property is shared amongst multiple tenants. Commercial strata management includes gathering rent and attending to a variety of needs from numerous companies sharing the same facilities.
Property management is also useful if you’re an investor and don’t live near your property, or you don’t have the knowledge to improve the property on your own.
In fact, if you aren’t experienced in the aforementioned tasks or despise dealing with the financial side of things, a commercial property management company will be your saving grace.
Under most commercial leases in Perth, outgoings are passed through to the tenant. These typically include:
Property management fees, however, are charged to the property owner – not the tenant. These are separate to outgoings and are a cost of engaging a management service to protect and maximise your investment.
To identify the best commercial property management company for your property, there are a few important factors to consider:
Commercial property management fees in Perth are typically calculated as a percentage of gross rent collected. The exact rate varies depending on the property type, size, and complexity of the management required – a single-tenancy warehouse, for example, will differ from a multi-tenancy strata site.
At Ross Scarfone Real Estate, we provide tailored fee proposals based on your specific property and circumstances. Contact our team for an obligation-free discussion.
At Ross Scarfone Real Estate, we specialise in commercial and industrial real estate throughout the South-eastern corridor of Perth. Not only do we provide exceptional property management services, but we can also help you with property sales and investment opportunities.
We provide our clients with top-quality service in an ethical and professional manner, which brings a lot of repeat business and client referrals. If you’re looking for a commercial property management company in Perth, contact us today.
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