Is Your Property Investment Being Properly Cared For?

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To make any investment worthwhile, great care needs to be taken to nurture your interests. In the case of commercial property, however, many individuals are finding their investments not being well-cared for at all. The perfect measurement of this is when the management agent instructed to look after the property was last on site.

Have you ever directly asked your management agent when the last time was that they had paid a visit to your property? An alarming number of individuals are getting one of the following responses:

  • “Oh, the last time we agreed a new letting with the tenant”
  • “When we were originally instructed to manage the property”
  • “After the local authority served a repair notice on the landlord – we met up on-site with the council”
  • Or “after an insurance claim, when we met up with the loss adjusters”

If a property is being managed properly, then the instances above are not frequent enough to satisfy the requirements of truly caring for a client’s investment. Besides, do we really need to wait for something to go wrong before a visit is arranged? The answer is a firm no.

Carlton Park approaches site visits differently to many of our competitors. We pride ourselves on maintaining a presence at the property to ensure the relationship between us, the landlord and the tenant is as healthy as possible.

Carlton Park makes use of a rotation calendar, providing our team the time to visit our clients’ properties on a quarterly basis. Such an approach has had many benefits – not least that everybody involved is happier with the property and how the investment is being cared for. Such visits have enabled us to act pre-emptively after encountering some surprises, such as:

  • Absent security officers, employed by the security firm and contracted to guard the property, despite log sheets recording him as being on-site
  • A tenant hoarding wooden pallets in the property’s yard, constituting a fire risk
  • Vehicles dumped on-site
  • Water ingress into the property – a situation which comes under a tenant’s obligations

There are several reasons for why we’ve opted for quarterly visits: it provides structure to the management relationship, we have an opportunity to find issues early on, clients have the chance to resolve those issues before they become serious, and the client saves money on legal fees, fines and repairs because the property is maintained to a high standard.

So, if your current commercial property management agency’s response to “when was the last time you visited our property” doesn’t make you feel confident that they’re visiting because they wantto, rather than they haveto, then it’s time to look for somebody who’ll take better care of your investment.

Carlton Park pride ourselves on managing properties properly, maintaining a strong tenant relationship and catching issues before they grow out of control. To find out more about our services, please feel free to connect/send me a message or explore our website.