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What does a property manager actually do?
Commercial properties offer exciting income potential, but the day-to-day demands of managing them can quickly feel overwhelming.
It's not just about collecting rent, it's about coordinating the day-to-day communication with your tenants, navigating complex leases, coordinating important and costly maintenance on base building services, and ensuring legal, certification and operational compliance. Many landlords soon discover there's much more to commercial property management than simply rent collecting.
Experienced commercial property managers are worth their weight in gold. From weekly property inspections to ensure the building presents well, to coordinating all of the important base building contractors, providing reports and overseeing financial management, they ensure all aspects of the property run smoothly.
In short, they ensure commercial properties are fundamentally operational and that its existing tenants are happy, which in turn reduces vacancy periods and maximises returns.
Here are some of the services provided by reputable property managers like Aegis Property Management.
Regular tenant communication and on-site presence through inspections
Aegis Property Management actively engages with tenants, not just when issues arise but on a regular basis. We believe this builds strong working relationships and ensures the tenant's experience in the building is positive.
Our service includes scheduled site inspections, informal drop-ins and proactive follow-ups. These touchpoints help surface maintenance needs before they become major problems. Our aim is to remain attentive and accountable and contribute to long-term tenant satisfaction and retention.
Compliance, certification and financial oversight
Behind the scenes, Aegis manages the operational complexity that keeps the building running smoothly. This includes ensuring all building certifications are up to date and compliant with current legislation, identifying any emerging risks, and coordinating with relevant authorities or contractors when needed.
From a financial standpoint, we track arrears closely, engaging early with tenants who fall behind, and working collaboratively to resolve issues in a way that protects both cash flow and tenant relationships. We also monitor broader financial trends across the building and provide visibility where needed to support strategic decisions.
Handling tenant lease renewals/extensions
Property managers are critical in tenant retention. The good ones are in constant communication with their tenants and build rapport over the lease term. When the lease expiry rolls around, no one is better placed to engage with the existing tenant on a lease renewal or extension than a property manager who has been proactive during the lease term.
When handling renewals, Aegis works with the office lease team to ensure that the new financials that are proposed are “market” and justifiable. From thereon in, we work with the existing tenant to hopefully agree terms. Our aim is always to retain valuable tenants, minimise vacancies and ensure consistent returns.
Building strong relationships is vital, and good property managers take this seriously. A satisfied tenant is more likely to stay long-term, which is always good news for landlords.
Coordinating maintenance and repairs
Managers of large commercial properties know to expect the unexpected when it comes to repairs and maintenance. Their watchful eye helps to ensure the property remains in optimal condition, reducing the chances of costly surprises.
Aegis implements a structured process when it comes to maintenance and repairs coordination that includes routine inspections to spot potential issues early, averting larger problems.
We also work with an extensive network of quality contractors to make sure tasks are completed quickly with minimal disruption to the tenant's business — and the landlord's income stream. And we keep both parties updated on progress.
In addition, Aegis negotiates the prices set by competitive maintenance contractors — a huge benefit for commercial property owners. Plus, we provide comprehensive reports detailing inspection findings and completed maintenance tasks.
Managing disputes and legal and operational compliance
Ensuring legal and operational compliance in property management is a core responsibility. Property managers must stay updated on laws and regulations to keep properties and tenants compliant, using clear lease terms and communication to avert disputes.
When conflicts arise, Aegis serves as an intermediary, applying fair resolution processes to address issues swiftly before they escalate. We also provide guidance and education on compliance regulations to make sure both landlords and tenants understand their rights and responsibilities.
This proactive approach not only safeguards the property's reputation but also fosters a harmonious landlord-tenant relationship.
Overseeing financial management
Financial management is a headache for any landlord, but it's all in a day's work for commercial property managers.
Not only do they handle rent collection, financial reporting and tax compliance, they also track financial outgoings, such as maintenance costs, utilities, taxes and insurance premiums.
In addition, they create and maintain detailed budgets to accurately forecast income and expenses.
By maintaining transparent records and consistent communication with property owners, Aegis ensures the property remains efficient and profitable, safeguarding its long-term financial stability and investment value.
