Commercial Property Management Services
Our commercial property management services in Los Angeles include rent collection, lease enforcement, property maintenance, financial management, leasing vacancies, preventative maintenance, and more!
Properties falling under this zoning class are retail and office spaces which require a specific skill set. Belwood Properties has a team of dedicated and seasoned commercial real estate specialists trained to fulfill the obligations of operating commercial properties. Retail and office spaces consist of different management operations which is the reason we modify our strategy to fit each commercial property. Exceptional customer service for our clients and tenants is fulfilled through our comprehensive knowledge of the commercial real estate industry. Not only do we have over 20 years of experience in commercial property management but we understand that these occupied units are businesses, as well. With a compassionate and open line of communication, Belwood Properties is able to shape and uphold longlasting relationships with their clients and tenants. We have come to believe that this type of communication is the foundation for our success.
Commercial Property Operational Management
Commercial Real Estate Leasing: Belwood Properties has a comprehensive marketing and qualification process for filling commercial property vacancies. With in-house commercial property specialists managing vacancy marketing, we are able to pinpoint the exact type of advertising required. When interested parties inquire about a commercial property, we initiate the qualification process. This process begins with an interview, overview of financials, construction plans, background checks, and much more. Our in-depth qualification method has proven to reduce turnover rate and maximize return on investment. Belwood Properties always advises our commercial real estate clients to use triple net leases for retail space and modified gross for office spaces. All lease negotiations are processed through our in-house leasing agent with our client’s best interests in mind. Commercial real estate has proven to be one of the best investments which we bear in mind during each negotiation.
Commercial Real Estate Maintenance: Preventive maintenance can eliminate hefty expenses before they happen making this one of our maintenance divisions top priorities. Belwood Properties has been able to establish an array of vendor relationships that have lasted throughout our 20 years in business. The expert knowledge of our vendors, combined with our real estate background, proves to be the perfect combination. We have the experience required to know what should be attended to monthly, bi-monthly, or quarterly in order to prevent serious or unforeseen issues from occuring. If a small maintenance requests is made, we vow to address the issue within 24-48 hours, if not sooner. The relationship that we have with our vendors allows us to call anytime during the day to make sure our tenants requests are fulfilled as quickly as possible.
Commercial Real Estate Financial Management: Balance sheets, income/expense statements, general ledger, accounts payable, bank statements, and reconciliations are just some of the financial tasks that our commercial property management services team performs for our clients. Belwood Properties understands that without financial health, no building will produce revenue. Financial management for commercial real estate can be complex and challenging at times so we have created an efficient accounting system that allows our clients to see their properties financial status easily. Our main financial goal is to eliminate unnecessary expenses to allow more return on investment for our clients (which is one of the biggest mistake that other property management companies make and overlook). We know and understand that commercial properties are required to produce income which is why we extend ourselves above and beyond to find any discrepancies that need to be addressed.
Commercial Real Estate Rent Collection: Per every lease, collecting rent on the first of each month is typical. Although tenants do not always follow this commitment, we have developed an approach to secure these rents as soon as possible. The relationships that we develop with our tenants ensure on-time rental payments. We offer online payment methods so that our clients can receive their distributions in a timely manner. Another element of our on-time collection approach is efficient commercial property management. Keeping commercial properties well maintained and quickly fixing maintenance issues that tenants have secures the trust and respect required to receive on-time rental payments.
What Our Commercial Property Management Services Include
- Tenant relations
- Maintenance and emergencies (all requests are scheduled and overseen by commercial team)
- Property checks for preventive maintenance (once every 2 weeks)
- Rent collection
- Oversite of all vacancies and preparation
- Updated market reports
- Bank reconciliations
- Payment of property taxes, insurance, mortgage, utilities, maintenance, etc.
- Financial and owner reports
- Budget preparation
- Calculation or property expenses and explanation of property expenses
- Collection and processing of asset receipts
Leasing is excluded from the management fee and is an additional percentage of 2.5% of the full lease term.