Commercial property managers can master their business by maximizing efficiency in three areas: accounting, maintenance, and owner/tenant attraction. Using automated accounting software saves time by eliminating manual tasks and errors. Implementing preventative maintenance policies and mobile inspections prevents tenant issues. Marketing modern technology tools to owners and tenants enhances relationships and allows the business to grow with clients.

1. Ways to
Master
Commercial
Property
Management

2. 01 3 Ways to Master Commercial Property Management
Commercial Property Management is a competitive
environment, but you can succeed if you take the
time to review your current business processes and
streamline your operations. Regardless of where
you’re located or who you serve (be it retail clients,
food and beverage outlets, or manufacturing plants),
to make it in the competitive commercial industry,
your business needs to maximize its efficiency in 3
major areas of property management:
ACCOUNTING NEW OWNER
ATTRACTION
MAINTENANCE

3. Commercial property managers need robust reporting tools
to keep track of everything from monthly rent to extra
charges, such as common area maintenance and scheduled
rent increases. Sometimes they need to do so for hundreds or
thousands of rental spaces at a time!
Paper-based systems and Excel spreadsheets are obsolete. The
shift away from paper to more secure digital services can be a
scary idea, but doing so is sure to increase staff productivity and
improve your bottom line. Here are a few ways every commercial
property management company (and owners, too) can benefit
from automation:
Save Time
with Accounting
Automation
02 3 Ways to Master Commercial Property Management

4. Using disparate manual systems to manage your financial
records is labor intensive and expensive, and it can lead to
inaccuracies from human error. A complete software solution
with automation eliminates duplications and manual
reconciliation tasks, saving companies money and time.
Implementing an owner e-check payment policy instead of
printing and mailing monthly checks reduces operating
costs, gets the money into your owner’s hands faster, and
eliminates the risk of funds lost in the mail. Plus, it's easier
for staff to generate payments, since all financial accounts
are automatically updated and owners don't have to find
time to go to the bank to access their funds.
Customizable digital reports are formatted for efficient
sharing through email, which reduces printing and mailing
costs; expedites communication with internal and external
stakeholders; and enables managers to generate and review
reports from the office, the field, or anywhere with an
Internet connection. Offering your owners an online portal
makes access to statements quick, easy, and more
convenient—so they can check in on the state of their
investment any time, day or night.
03 3 Ways to Master Commercial Property Management
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5. Have a Killer Property
Maintenance Plan
in Place
If a maintenance issue is left unaddressed, commercial property
tenants can suffer significant financial loss. Customers may not
want to eat their lunches in a restaurant without a working heater,
and people can’t visit a retail store that’s been flooded. Whereas
small maintenance issues can temporarily inconvenience
residential property renters, commercial tenants can lose their
entire businesses if they have to close their doors for even a day.
04 3 Ways to Master Commercial Property Management
CLOSED

6. Implementing an asset protection policy with routine property
inspections can prevent avoidable tenant downtime and extend
the life of appliances and fixtures. Conducting annual inspections
is critical, but replacing manual inspections with mobile inspections
saves time and improves accuracy. No more messy handwriting,
lost notes, or tenants left without knowing the status of their
requests. With online maintenance request options, tenants can
quickly submit repair requests or emergency maintenance issues
and always stay up-to-date on the progress.
05 3 Ways to Master Commercial Property Management
One of the most critical aspects of commercial property
management is common area maintenance (CAM). It’s up there
with preventive maintenance and on-demand services. Every
property manager can benefit from shifting away from paper-based
records toward automated tools that empower you to efficiently
track and reconcile CAM expenses against designated accounts.
You need property management software that enables you to
easily track, bill, and reconcile the shared common area expenses
and income for your commercial properties whenever necessary,
based upon your business practices and agreements with
commercial tenants.

7. Marketing Your
Technology to Attract
Owners & Tenants
The average length of a commercial tenant lease is 3–5 years.
Although many commercial property management companies
rely on third-party brokers to manage the lease agreements and
available property marketing, you still need to market yourself
and your services as the best option to manage those investments.
06 3 Ways to Master Commercial Property Management

8. By automating as many routine operational tasks as possible,
you’ll enhance productivity and save your staff time and
energy—meaning your team can better invest in fostering
long-term relationships with owners and tenants. From online
tenant/owner portals and maintenance requests to robust
reporting and mobile inspections, modern technology tools
will have you poised to grow alongside your owners and
tenants. Commercial property owners want to know their
investments are taken care of and are in the right hands. But
they also want managers who are well-positioned to keep up
with their clients’ growth so that they can commit to long-term
business relationships together.
07 3 Ways to Master Commercial Property Management
Commercial tenants want their own businesses to succeed,
which typically means staying in one place for an extended
period of time, until success pushes them into a bigger space.
Tenants with a good working relationship are more likely to do
what they can to stay under your property management as they
expand their businesses to larger offices or multiple locations.

9. Learn more about how to automate,
modernize, and grow your commercial
property management business at
www.appfolio.com
08 3 Ways to Master Commercial Property Management