Commercial Property Management in Southern California
Commercial rental property comes in a wide variety of forms, including office buildings, retail buildings, industrial warehouses, developed and undeveloped land, and apartment, condominium and townhouse complexes. Regardless of their specific holdings, the owners of these properties have one thing in common. They need to find affordable management services that ease the burdens of ownership while preserving their ever-important bottom line. Without access to experienced, reliable management professionals, it’s all too easy to run into serious problems that decrease profitability and open the door to damaging legal liabilities.
No matter the type of property you own, you can count on the experts at MGR Property Management for the very best in full-service commercial administration. From marketing and advertising to rent collection, bookkeeping and reporting, we provide everything you need to minimize your ownership workload and maximize the financial benefits of your rental property. And decades of experience working locally and regionally give us the detailed knowhow required to keep your operation running smoothly. Just choose the services you need to meet your ownership objectives
Marketing, Advertising and Tenant Acquisition
Marketing and advertising are critical first steps in drawing tenants to your commercial rental property. That’s why our comprehensive approach to commercial management begins with a full-spectrum marketing and advertising program. This ongoing program allows us to identify and make contact with tenants who are a good fit for your vacant properties. In addition, we follow up each application with thorough background screenings (including references and credit checks), carry out lease negotiations and finalize lease signings.
Rental Unit Preparation and Inspection
Even with the benefit of a successful marketing and advertising campaign, your prospective tenants typically won’t sign a lease unless the vacant units you show them are in appealing, functional condition. At MGR Property Management, we rely on a thorough preparation process to ensure that the units you have available make a good first impression. In addition, we perform detailed weekly inspections to make sure that all of your vacant and occupied spaces meet current regulations for safety and sound mechanical operation (utilities, etc.).
Rent and Fee Collection
Reliable payment and collection of rent is the cornerstone for a healthy commercial property. In addition, when payments fall behind, you must have a dependable, stress-free method of assessing and collecting late fees. MGR carries out all rent- and fee-related tasks for each of your current tenants. Areas we cover include scheduled billing and rent collection, timely fee collection and legal notifications for payment problems that could lead to lease termination.
All tenants of commercial rental property explicitly agree to follow the terms, provisions and conditions outlined in their leases. Enforcement of the agreed-upon rules is critically important for smooth day-to-day operation of that property, as well as the property owner’s peace of mind. MGR provides ongoing monitoring of rules adherence by each individual tenant. If and when breaches of those rules occur, we follow up with appropriate, case-specific enforcement efforts that protect your rights and investment. In addition, we monitor and maintain norms and guidelines (e.g., parking regulations and energy/utility efficiency efforts) unique to each property.
Requests for Service
Leases for commercial rental property typically stipulate the range of services the owner will provide for routine maintenance and emergency situations. Reliable provision of these services is often crucial to long-term tenant retention. MGR Property Management makes it easy for you to provide a timely response for all routine and emergency matters that fall within the terms of each tenant’s lease. Our top-of-the-line telephone system comes equipped with a 24/7 voicemail service. No matter what time of day your clients request assistance, our representatives are on-hand for a rapid emergency response.
Oversight of Service Contracts
The quality of the services provided by contractors and vendors can make or break the day-to-day operation of your commercial rental property. We support your goals in this important area with continuing reviews of each vendor/contractor working for you. During these reviews, we look for strict adherence to the terms of existing service contracts, as well as ways to efficiently maintain or upgrade the services you receive while reducing costs. Our long association with top area vendors also makes it possible for us to hire trusted providers who share our emphasis on quality and value for money spent.
Bookkeeping is potentially one of the most daunting and unpleasant aspects of owning commercial rental property. At the same time, you absolutely must keep your books in sound condition if you hope to maximize your profits and avoid legal liability for fiscal mistakes and oversights. In addition to keeping track of receivable rent and fees, we help you streamline your bookkeeping in two crucial ways.
First, we maintain an accounts payable system that requires official approval and posting of all outstanding debts before payment is issued. In addition, we provide you with detailed monthly reports (generated by the advanced YARDI software system) that clearly outline the category-by-category expenses associated with eachof your properties. At the end of each year, you will also receivea year-end income statement.
Income and Expense Verification
It can be quite difficult to maintain sufficient financial oversight over a commercial property, especially one with numerous tenants. Unfortunately, lack of adequate oversight can add a significant amount of avoidable expenditures to your bottom line. MGR Property Management helps you maintain financial control with detailed review and verification of both your income and your expenses. Steps in this process include:
- Assessments of each tenant’s lease and prompt reporting of any noted discrepancies
- Up-to-date comparisons of local rental rates designed to help guarantee you receive true market value for upcoming lease renewals, and
- Vetting of each tenant’s insurance coverage in order to limit your legal liability for accidents and mishaps
Compensation for Our Services
At MGR, we believe reasonable pricing is an essential part of the property management equation. In line with this philosophy, the bulk of our compensation comes from a small, set percentage of the monthly gross income collected from every property we oversee. In addition, we factor in the onsite management costs specific to each of these properties.
Southern California’s Trusted Property Management Resource
For more than 40 years, MGR Property Management has provided exemplary services to commercial property owners across Los Angeles, San Diego, Orange Counties, and the Inland Empire. Throughout that time, we’ve based our reputation on quality, attention to detail, client satisfaction and the widest range of management resources you’ll find anywhere. Every day, we work hard to help you achieve success and secure your financial future. Contact us for more information and a consultation on which services will best fulfill your needs.