How Commercial Property Management Can Increase Occupancy Rates and Retain Tenants
Managing the day-to-day responsibilities of a commercial property requires a diverse range of skills. These include accounting, financial reporting, budgeting and tenant relations. Finding the right tenants is critical for maximizing your investment. Commercial property management firms are skilled at screening prospects, and can help negotiate lease agreements. They also oversee building maintenance and marketing efforts. Occupancy Rates The occupancy rates of commercial property management Dundee firms are a key factor in whether they can attract tenants and keep them around. After all, empty properties don’t bring in any income. And if they’re paying maintenance costs and property taxes on an empty space, they may start losing money fast. Occupancy rates are generally expressed as a percentage, and they’re important for a variety of reasons. They can help a business determine how well-maintained a location is, and they’re also an indicator of how popular a space is. A good way to