New Year, New Property Management Company? Here’s what to look for!

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After the purchase of your office building, you don’t just want someone to simply “manage” it. Instead, you must look for a valued partner who differentiates your assets to improve occupancy, increases your net operating income and maximizes your real estate performance.

Finding the right partner to manage your property can be daunting. Here’s what to look for in your search for an optimal partner:

  • Find someone who thinks like an owner – Any property management company should be able to handle the day-to-day tasks. Go beyond finding someone to do tactical work and instead look for a partner who has a grasp on the big picture. How does this building grow your portfolio? How are we creating value on your asset? For example, JLL bids service contracts using the weight of our regional and local portfolio to leverage square footage under management to maximize savings for our owners. JLL will evaluate every facet of operation including accounting functions to ensure efficiencies are established to create value. That’s why it’s important to find a property management company who truly thinks like an owner.
  • Consistency is key – When you have multiple assets in multiple geographic areas, consistency is important. Your property management company should be able to offer consistent communication styles, monthly account reporting and collaboration with leasing teams (in-house or other) and third-party service providers to make the relationship as seamless as possible.
  • National presence – You expect the best, which is why you should look for tried and true property management companies that have experience from coast-to-coast. Not only do these companies offer a higher level of experience working with top-tier assets across the country, but they can save you money. Property management companies that operate on a national scale have a centralized procurement process, marketing research and accounting. This means anything from your office supplies to HVAC and plumbing supplies can be purchased in bulk, which saves you money immediately.

Are you ready to learn how an effective property management company can increase your building’s value? If so, it’s time to visit with one of our property management professionals, visit jll.com/minneapolis

© 2017 Jones Lang LaSalle IP, Inc. All rights reserved.

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