Real estate property management can save landlords a significant amount of money

Effective property management (EPM) can actually save landlords a significant amount of money immediately, especially in the long run. Landlords today have very little time and energy to effectively manage their investment properties. In some cases, they do not have the expertise to fast track and to remediate real estate property matters such as tenant's complaints and non-payment proceedings, repairs and maintenance. Today, tenants are sharper then expected, even manipulative at times looking for every loop-hole to circumvent their lease obligations. Once a tenant is officially in default most landlords do not take immediate action, it usually takes four to six months to resolve an issue and this equates into a monetary loss. EPM has proven to minimize the loss revenue factor, by swiftly handling tenant's complaints, concerns and keeping investment property running smoothly utilizing qualified licensed and adequately insured contractors and vendors. Skilled, experienced property managers will more than likely be quick to discern the negative tenant's signal before a problem arises and property management will implement key strategies that ultimately short-circuit the tenant's wrong-doing. "The right property management is essential in keeping a commercial property leased. Non-effective managed buildings make it a golden opportunity for other brokers to intercept existing paying tenants. The absentee of a landlord or ineffectively overseeing its investment property makes tenants ripe for the picking for competitive commercial brokers, canvassing the building relentlessly," said Michelle Marie Zere, V.P. of Zere Real Estate Services. EPM keeps landlord's property appearance well maintained. Appearance is a huge part of being successful. Old fashioned elbow grease applied to landlord's investment keeps existing tenants satisfied and attracts prospective tenants. The leasing market is highly competitive on all fronts. It is poor property management not to have the common elements of any building looking polished and cleaned on a continual basis. Nine out of ten potential tenants will lease the demised premises, if the premises are relatively clean in appearance. If you want fewer vacancies you must focus on cleanliness and economical rehab updates. Today, good cleaning companies are hard to find and they must be monitored on a daily basis. Landlords simply do not have the time to oversee their property(ies) effectively. Short cuts will cost landlords, keeping in mind that well maintained buildings will grant landlords the maximum marketable yield on their investments. "Uncomplicated leases that are easy to read (simple form) make it easier for potential tenants to choose demised premises for their new base business operations. Difficult attorneys and poorly run management are the kiss of death for property owners," said Michael Zere,V.P. Zere Real Estate Services. Patrick Caroleo is the president of The Dove Organization, Ltd., West Islip, N.Y.