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Property Management
How to Manage Parking in Commercial Properties
Parking is a routine task, so managing lots and garages may seem like a low-priority task. However, when inefficiencies arise, they’re likely to get noticed quickly and can have a significant impact on tenant retention. You can use parking management techniques to analyze driver behavior and develop better solutions based on those insights. This guide can help you understand how to make the most of your available space so drivers find space safely and easily.
Commercial Real Estate
How Force Majeure Affects Commercial Real Estate Transactions
The unexpected can have major implications for commercial real estate leases and transactions. A force majeure clause can help you and your tenants protect yourselves from unforeseeable events that impact income and operations. This policy must be outlined with specific language to avoid legal disputes and interpretation issues. Recent events, such as the COVID-19 pandemic, highlight the importance of having this “disaster plan” in place to address operational disruptions and safeguard parties involved in a commercial lease.
Property Management
When to Outsource Commercial Real Estate Management
Managing commercial property is a hands-on job. There are tasks like maintenance, tenant retention, renovations, marketing and legal compliance to consider. Those responsibilities can become an overwhelming to-do list. Outsourcing your CRE management efforts offers a solution so you can enjoy a passive investment and focus on developing your portfolio. If any of the following scenarios sound familiar, it may be time to consider seeking support from the experts.
Commercial Real Estate
Understanding Types of Commercial Real Estate Obsolescence
Over time, you may encounter a change in the value of your commercial real estate investment due to obsolescence, especially if you own an older property. Any asset that doesn’t meet current market expectations and demands may drive away potential tenants, affecting your ability to turn a profit. Understanding types of commercial real estate obsolescence can help you determine which factors are within your control and how to mitigate them.
Commercial Real Estate
An Investor’s Guide to Commercial Real Estate Inspections
A commercial real estate inspection gives you an idea of what you’re walking into before you invest in a property. The results of a professional assessment not only provide a clear picture of a potential asset’s value, but also an approximation of the short- and long-term costs of renovation and maintenance. This guide breaks down the importance of scheduling comprehensive inspections and what you can expect during the process.
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