On paper, property management looks like a fairly hands-off job. You monitor issues, have them fixed, collect rent, etc.
But there’s more to managing commercial properties and many of the tasks involved are more easily done on-site in an office.
Yet with the recent COVID-19 pandemic, many industries are switching to remote work in order to protect themselves, their employees, and their businesses.
Perhaps you have made that choice as a property manager – but how do you manage your properties while you are working from home?
Thankfully, technology has given us the tools to adapt to this new way of operating. Check out these tips for how you can manage your commercial properties from the comfort and safety of your home:
Use Preventative Maintenance For Your HVAC System
When you use preventative maintenance for your HVAC system, you have peace of mind that the mechanical systems of your commercial properties are well-maintained and repaired as quickly as possible.
Broken HVAC systems can cost thousands of dollars in lost business as well as an expensive repair bill.
Ongoing service and maintenance agreements will ensure that critical mechanical systems are inspected, maintained, and repaired regularly.
Keep a List of Emergency Contractors
There are many issues that can happen on your commercial properties that don’t involve your HVAC system. For these, it’s important to have a list of emergency contractors available at all times.
You never know what kind of emergency may happen such as a burst pipe, broken door, or other issues.
Having a list of emergency contractors will prevent any delays when handling maintenance issues.
Prepare For Non-Emergency Issues
An important aspect of property management is showing your tenants and the businesses that rent from you that they are valued. This means taking non-emergency issues seriously and resolving them quickly.
Apart from sending in someone to perform repairs, you can assist your tenants from home by providing them with how-to videos to solve common issues or guiding them through the task via video call.
Invest in Commercial Property Management Software
When you are managing commercial properties while working from home, you should also invest in commercial property management software.
There are some amazing pieces of software out there designed to assist property managers with accounting, billing, maintenance requests, online rent payments, and communication.
While pricing can vary for commercial property management software, look for companies that offer free trials. Once you are satisfied with a product, it’s worth making the purchase.
Do Virtual Tours
Not only do you have to take care of your tenants while remotely managing your commercial properties but you also have to ensure your spaces are rented out as well.
Meeting new tenants and giving tours is difficult when you are working from home. However, you can still give virtual tours to prospective tenants.
You can record a video so that you can provide multiple tours at the same time. You can also do a live video as you walk the potential tenant through the property. This may be ideal since you can then answer their questions in real-time.
Virtual tours are also great when it comes to routinely inspecting your properties. You can have your tenants walk you through the space so you can detect any issues and address them quickly.
Keep Your Policies Updated
While remote work is nothing new in the world of commercial property management, it has certainly become a necessity due to the COVID-19 virus.
The pandemic has also had an impact on tenants and their ability to pay rent due to loss of income.
While the government has stepped in to suspend evictions in many areas, there are ways you can protect the interests of your business from suffering as well.
Make sure your policies are updated to reflect any official measures as well as clearly define any expectations you have control over.
Install a Security System
When you are managing your commercial property while working from home, you can give yourself and your tenants peace of mind by installing a security system.
Security systems are effective in preventing break-ins, theft, and vandalism. You can use modern technology to monitor your properties from home.
Along with security cameras, consider installing carbon monoxide detectors with digital alerts as well as smart locks with digital keys.
These measures will not only help your tenants feel safer but will better protect vacant spaces in your commercial properties.
Final Thought
Managing commercial properties while working from home is all about supporting your tenants and keeping your business in operation.
By staying on top of repairs, keeping in contact with your tenants, and finding new ways to conduct your business, there’s no reason why you can’t continue to experience success with your property management business.
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