Tips for Choosing a Property Manager for Your Commercial Property

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Tips for Choosing a Property Manager for Your
Commercial Property
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• Investing in commercial real estate can supply
  a lucrative revenue stream, but choosing the
  right property manager is crucial to your
  success. In order to draw the largest return from
  your investment, you will need to align yourself
  with a property manager who understands your
  investment goals and how you would like your
  property managed. Here are some tips to get you
  started

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• When it comes to finding a commercial property
  management company, Calgary, Edmonton, and
  investors throughout North America need to know
  where to start their search. There are some
  preliminary questions you should ask before you
  sit down to start talking seriously about how
  they would manage your property. This is what you
  need to find out, right from the start

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• are they licensed?
• what type of experience do they have, or
  which types of properties have they managed?
• how many years of experience do they have?
• are they willing to show you references
  from other clients?

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• Really, if the answers they provide to any of
  the above questions don't seem satisfactory, or
  they aren't willing to show you references, move
  on. There are many property management teams to
  choose from.
• Next, you will want to ask them how, as the
  managers for your property, they would approach
  the following

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• setting monthly rents
• collecting rents from tenants
• performing maintenance on the properties
  and any necessary repairs
• performing property inspections
• attracting and keeping tenants
• screening tenants

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• In addition to these questions, it's also
  important to find out about their management fees
  and the type of contract that they require for
  you to retain their services. If the fees are too
  high, they will cut into your return, and some
  contract terms may not make sense for your
  investment.

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• Finally, it's well worth it if you take the
  time to meet with more than a couple of property
  management companies. Choosing the first company
  you meet gives you nothing to compare their
  services, contract or fees to, and there could be
  another property manager who's service offering
  or fees are more in line with your investment or
  business style.

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• If you live in the Edmonton or Calgary area, a
  reputable company is Group Three Property
  Management Inc. They have several years of
  experience managing residential and commercial
  properties and a long list of satisfied clients
  to tell you about their positive experiences.
• http//www.groupthree.ca/