If you own an office property, the growing number of reports suggesting how they’re no longer as rewarding as they used to be can be alarming. And with several commercial entities switching to “hybrid work,” you have every reason to be worried. But by making some careful modifications to the property, you can continue reaping great dividends from your investment.
For starters, you can look for a trusted office building property management service provider to ensure your investment stands out in the market. Here are 5 ways in which professional property management companies can turn the tides for your office property-
1. Suggest Capital Improvements That Improve Leasing and Retention
Office tenants generally prefer leasing newly renovated or construction properties. Especially, after the COVID-19 pandemic, employees are looking for ways in which they can add more value to their daily routines. And that includes the time spent in the office. So, the traditionally popular amenities and common areas are not very appealing anymore.
The property management firm can suggest capital projects that can effectively compete with other office properties in the vicinity. Whether it is adding a fitness center, outdoor lounge, or cafe or making changes to the property design, they can assist you in making the right capital upgrades to the property to ensure it continues to attract business owners and encourages existing tenants to renew their leases.
2. Help You Become Part of the Green Revolution
The world is going green and it is now increasingly important for many businesses to closely monitor their carbon footprint. As a result, they prefer office properties that are more eco-friendly. Moreover, an increasing number of employees now prefer working in offices with amenities like outdoor workspaces, walking trails, and picnic areas.
An office property management company can help you make such environment-friendly changes to the property. Be it carving out greener spaces or equipping the property with amenities that reduce pollution, you can rest assured the experienced property managers can help you upgrade the property in many different ways and make it more eco-friendly and appealing to the new-age companies.
3. Prioritizing Health and Wellness
The pandemic has also made us more concerned about our health. Owners and employees now give more emphasis to offices that promote their health and wellness. Traditional offices actually contributed to the health problems of the occupants in many different ways. For instance, if the office air quality is poor, it can impact the cognitive functions of the employees and lower their productivity.
So, such issues need to be taken care of to make your office property desirable for the tenants. Adding an air filtration system and upgrading the HVAC systems are some of the ways in which property owners can demonstrate the importance they give to the health of the occupants.
Moreover, you can also consider implementing plans and policies for safety and health to receive a WELL Health-Safety Rating for the property. But the best part is, you don’t have to do everything on your own. The property management firm can guide you at every step for the best results.
4. Focus on Hospitality
We understand managing a commercial property is now very much similar to hospitality management. From organizing events and adding green areas to making sure the property security is top-notch, there are many different things you can do to add a differentiating factor to your office property and make it more appealing.
But the majority of the work related to such hospitality-related tasks can be outsourced to the property management firm. They have extensive experience and a vast network to organize various activities that can add more value to your office property. This can be very useful especially in cases when you own multiple such properties and are struggling to keep up with the needs of expectations of the tenants.
5. Treating the Property As Their Own
The best office property management firms in Florida, like Luxury Property Care, are trusted by property owners as they treat every project as if it is their own. They consistently look for ways to satisfy the needs and expectations of the tenants while also ensuring they deliver more value to the property owners. Moreover, they also focus on building deeper relationships with the tenants so that their experience at your property is more satisfying.
Moreover, all the other tasks such as repairs, maintenance, and even cash-flow management are efficiently managed by professionals so that you don’t have to worry about any of these matters. This is also a vital reason why you should thoroughly analyze the property management firm you’re about to select as they’ll directly impact your property’s value in the market.
How to Choose the Right Office Property Management Company?
As can be seen, there are several ways in which a professional office building property management firm can help your investment. But while you now know the vital role they can play in your business, how will you select the right company for your property? Here are a few tips that can help-
- Choose a licensed local company that is well aware of the property market in your area
- Collect referrals from other commercial property owners, friends, and real estate agent
- Check online reviews of the management company
- Choose a company that offers an extensive range of office property management services
- Go through the list of the company’s past and current client
- You can also contact the existing clients to learn more about the quality of service the company offers
- Analyze the initial consultation to better understand their knowledge and expertise
Upgrade Your Office Property with Luxury Property Care
Luxury Property Care is one of the leading property management firms in Florida. We offer world-class property management services for office buildings to help you meet your investment goals. Our experts create a personalized management plan for every office building to help you generate maximum profits from your investment.