Considering how the commercial property market in Sydney has grown vastly in recent years, it’s advisable to hire a manager to take care of your establishment. But this does not mean that you can’t manage the property on your own like a pro. You just need to know what it takes. For one, it’s about minimizing the maintenance costs. It’s also about making it easier for investors to evaluate the value of your property. More importantly, it’s about giving your property market stability. The three objectives are what property management services in Sydney promise. You can also achieve them if you observe these ideas:
1. Obtain a BEEC
In Sydney and other cities in Australia, a Business Energy Efficiency Certificate (or BEEC) is used to show the Nabers rating of a commercial property. The rating shows how energy efficient your property is. You should target a higher rating since it will add value to your assets and improve the rent collection.
2. Invest in the Property
You have to go the extra mile financially to ensure that your property maintains its value and standards. You’ll need to invest in the finest HVAC systems, smart security features, and latest fixtures. You also need to upgrade your landscape so that you can attract investors.
3. Protect the Investment
It’s important to safeguard your commercial investment even when it’s tempting to take shortcuts. You should try to be professional by observing these practices:
• Set up fire safety measures
• Apply for the necessary certifications and licenses
4. Make the Tenants Happy
Even though it’s important to protect your investment, it’s equally important to house tenants who are happy with the management. When tenants are happy, they’ll pay without default. You need to take time to listen to them and make the improvements that they recommend whenever necessary.
5. Address Late Payments
Late payments are an issue that most property management services in Sydney have to deal with often. You need to have a system in place that notifies you when a tenant’s rent is overdue so that you can follow up.
6. Create a better working environment
Water features, office gardens, indoor plants, and pendant lightings are no longer considered to be office trends in Sydney. They are critical elements of any quality office environment with signs of good workplace health and productivity. You cannot afford to miss them in your property management services office.
It’s clearly not hard to manage your commercial property if you understand the basics. The above ideas will definitely help you manage it like a pro. You’ll be able to save money and run the property as you like.