There are over 1,500 small businesses in Dickson, Tennessee, a town of just 16,000 residents.
Situated a short drive from Nashville, Dickson is a great place to invest in commercial property and earn passive income. It's a town oriented around small businesses, so finding great commercial tenants can be a breeze. That said, there are still challenges to managing commercial real estate.
Hiring commercial property management is a great way to handle the complexities of owning a rental property. In today's post, we'll explain the duties of a commercial property manager. Keep reading and start making rental income from your commercial property ASAP.
Marketing Vacant Units
Your property manager will handle all aspects of property marketing. When you have a vacant unit, you want to do everything possible to get it rented out as soon as possible to a great tenant.
With many other commercial spaces in Dickson, you need to make yours stand out from the competition. Property management can write up the perfect rental listing to entice commercial tenants, complete with a property description and plenty of real estate photos.
Screening Tenants
Once you've got interested applicants from a strong marketing campaign, you'll need to screen them to ensure you're getting a good tenant. Commercial tenant screening isn't all that different from residential screening.
It's all about determining if the business is stable enough to keep money flowing into your property. Your property manager will look at business plans, financial history, and future projections. This will ensure you have a tenant who can pay rent on time each month.
Managing Tenant Relations
Finding a good tenant makes your life as a landlord so much easier. Once tenant screening has found you the right small business, it's your job to keep them happy.
A property manager can manage tenant relations in various ways. They'll stay in communication with the tenant through an online tenant portal. They'll respond to tenant requests for maintenance and tackle any other preventative maintenance.
Commercial properties go through a lot of wear and tear. For that reason, it's crucial to stay on top of maintenance. Your property manager will use relationships with local vendors to ensure your rental stays in tip-top shape.
Finances
Financial reporting is an important aspect of commercial property management. Having accurate financial records will ensure you're getting the most out of your commercial rental. They'll also make your life much easier when it comes time to file taxes on your property.
Property management companies have experienced accountants on staff. They'll deal with rent collection, bookkeeping, and budgeting to maintain the financial health of your investment.
Get the Top Commercial Property Management in Dickson
When you have good commercial property management, running your property is simple. They'll handle everything mentioned here so you don't have to. It's important to get a qualified property manager if you're going to experience all of the benefits.
PMI Greater Dickson is a top commercial property manager in the Nashville area. To learn how we can improve your commercial rental in 2024, contact us today.
