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Benefits of Managing Your Own Commercial Properties
Investing in commercial real estate can be very profitable. Winston Rowe & Associates has been helping people get commercial loans without upfront or advance fees. They can be contacted at 248-246-2243.
By: Winston Rowe Associates
Investing in commercial real estate can be a very profitable venture – if you find a building for the right price, with good potential cash flow and in a good investment location. If the location is not desirable, it won’t matter if you have the nicest building on the block or offer the most amenities for the lowest rents.
You need to crunch the numbers to make sure you have a profitable investment.
Winston Rowe & Associates, a national advisory and due diligence firm specializes in structuring;
They have prepared this knowledge based news article to provide current and prospective commercial real estate investors with a strategy of managing you own properties.
When you call Winston Rowe & Associates, a principal is always available to speak with prospective client’s 248-246-2243.
They also have many other solutions that meet almost every need. Check them out online at http://www.winstonrowe.com
Cost of a Property Manager
Some property owners decide to hire a management company to handle their commercial property, which can provide several benefits, but may wonder if the outcome is worth the cost.
Most property management companies charge between 5 to 10 percent of the rental fee.
To avoid paying the fee, a property owner can handle the same services and improve the return on investment.
You can use advertising locally and online to find an appropriate tenant. Placing a “For Rent” sign outside of the property that includes basic details may be effective. An ad in a local weekly publication or flyers distributed in the area can also generate interest.
Placing an ad on Craigslist or another online website or publication may also be a good option. Finding a responsible tenant can be one of the most key steps in making your rental experience profitable.
Screening a potential tenant to your comfort level may involve a credit or background check, and a tenant application. When meeting the prospective renter in person, engage in a discussion with them to establish rapport and use your best judgment with the following goals in mind that can increase your return on investment give you fewer headaches:
The property will be well-kept and therefore require fewer repairs and maintenance.
Rent will be received on time.
The lease could extend beyond the first year.
Taking a class that reviews real estate and rental property legal issues will help you avoid complications, such as observing discrimination laws during tenant application and screening, drafting a secure lease agreement and minimizing risk in the property and on its grounds.
Timely Maintenance and Repairs
Handling repair and maintenance requests quickly can maintain a positive owner-tenant relationship and can prevent smaller repairs from growing and becoming costly expenses.
You may need to find a maintenance and repair and HVAC company to retain for standard and emergency repairs. Read about preventive maintenance requirements
Winston Rowe & Associates has some of the most aggressive rates and terms available, while managing every step of the financing process from document collection to commitment negotiation and closing.
Winston Rowe & Associates provides no upfront or advance fee due diligence and advisory firm in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming