Property Management Tip, Advice, and Guidance

[Rob Toste]

Hi BP,

I Currently am a Managing partner of a company that owns and manages Real Estate. I am looking to bring the property management aspect of the company to the 21st Century and would like to hear how others are running their companies. We currently have a system of keeping track of rent payments but it is not that great for Commercial property management (our only investments are commercial properties). The software is really for Storage unit book keeping and we use it to manage the properties as we also manage our own storage facility. This may be some of the issue and we may need to look towards a better software system.

One of the other areas I am looking to improve and would like advice and guidance on is how to Lease properties/ screen tenants without hiring a broker (becomes expensive) to do this for us. Screening is the big one really as we are unsure of how or what to do when screening tenants due to the fact a broker has always done this for us (hasn't seemed to work that well in the past)

The next area of improvement is billing to tenants for CAM charges, also how do you deal with maintenance on the buildings if it is not triple net, even if it is triple net how do you place urgency on the tenant to initiative to make the building an A or B class building if that is how they received it.

Thank you all, sorry for the rant but just looking for advice and input. Would really appreciate any discussion. Take care.