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By deciding on a contract for commercial real estate management services, you get the freedom to do what you do best, and leave the specifics of management to experts. Our real estate management team has decades of experience and currently manages more than 18 million square feet of office space.
We will work closely with you to identify, develop and implement asset management strategies that will not only protect your investments, but also add value. Our network of talented and dedicated associates and resources contribute to our goal of helping owners achieve their financial goals.
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“As a broker who has a fair amount of tenant representation, I can say that the CASTO team approached our negotiations with” win-win “potential, which means they are really looking for their long-term success. They wanted to help re-appoint tenants. who also coordinated asset management and engineering, to help assess tenants’ space needs on site. The entire CASTO team was interactive, detailed and honest from start to finish. “
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We offer our clients a full range of competencies that we apply to our projects and a proven ability to work with multiple ownership and manage a large portfolio of real estate.
CASTO is a multidisciplinary organization that seamlessly integrates a full range of services in order to create the greatest value for our customers. From neighborhoods anchored in shops and community centers to mixed-use projects and entire departments. Whether new, refurbished or purchased, we understand that the complex and unique nature of each transaction requires expertise to reliably provide the services needed to ensure maximum value.
It can be difficult to raise money from tenants who refuse to pay. Our team of experts is ready and equipped to serve you.
Thank you for considering CASTO for all your residential and commercial real estate needs. Please fill out the contact form and a member of the CASTO team will respond to you as soon as possible. Finding the right commercial real estate management company to manage your property can be challenging. Clients often ask us, “How do you choose the right real estate management company for your commercial real estate?” There are many suppliers on the market and it can be difficult to know which will suit you best.
What Does A Commercial Property Management Company Do?
A good property manager will take away all the day-to-day operations of your property and keep your building and your cash flow like clockwork.
To help you choose the right property manager for you, we’ve put together this list of four things to consider when hiring a property manager for your office, industrial or retail property.
To choose the right commercial real estate management company, it is a good place to start by checking if your leasing company offers asset management services. If they do, hiring the same asset management company can be incredibly beneficial and lead to consistency and flexibility of services. This includes more impeccable service and simplified rental negotiations for your tenants. With these and more benefits, problems can be solved quickly and easily if you have two separate teams.
You should make sure that the asset management company you are considering has appropriate and qualified employees who will meet your asset size requirements. The size of the team needed for your property will vary depending on the size of the property. The team may include, but is not limited to, senior asset manager / asset manager, assistant property manager, administrator, accountant and building maintenance engineer.
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Management duties can vary greatly depending on the ownership structure – whether private or institutional – and the type of property – retail, office or industrial. Make sure the management company has experience with your assets or type of portfolio and has the ability to execute your goals and objectives.
The duties of a property manager typically include day-to-day management of building operations, financial reporting and support, maintenance planning, and tenant relations. They can also cover emergencies, including floods, fires, chemical spills, and any other emergency or disaster. Management duties also include major capital updates for the property with the project manager.
And it’s not just about construction services. Make sure the management company you choose has the ability to optimize your company’s processes with respect to financial reporting, day-to-day operating procedures, and budget.
Several types of credentials are highlighted in the asset management profession. It is recommended that all management companies and managers must possess at least one of the following credentials to substantiate their expertise as an asset manager.
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To obtain the status of a certified property manager, the applicant must have three years of experience before applying and hold a real estate seller’s license. They are recognized as real estate management experts. According to the National Association of Realtors, 70% of those who hold CPM positions hold the highest management positions in their offices. This certification is administered by the Institute of Real Estate Management.
The Certificate of Real Estate Manager speaks in more detail about the operational side of the profession and is managed by the Institute for Building Owners and Managers. All candidates must demonstrate three years of real estate management experience and complete a variety of courses. This program teaches asset managers how to maximize asset income and minimize risk.
An accredited management organization is a company certificate that requires a member of the CPM executive team. It is managed by the Institute of Real Estate Management. According to the IREM website, AMO companies are run by educated executives who hold CPM positions and are rigorously trained to increase value, minimize risk, and partner with you to achieve your goals.
The control of the service organization proves that the external auditor has checked the security of internal controls, which means that the financial data of the user are protected. This ensures that the asset management company, as well as the owner, is confident and can more easily address future audit requirements.
What Is Commercial Property Management?
System Maintenance Administrator Applicants must have three years of experience as a statics engineer or equivalent in a real estate portfolio of at least 40,000 square feet. This program ensures that the applicant can improve business, create energy efficiency, reduce costs and increase property value. It is managed by the Institute for Building Owners and Managers.
In general, a more experienced and accredited team will better meet your needs. It is also important to take into account the experience and expertise of production staff and engineers.
What is the local presence of the company you are thinking about? The company must have an established local presence. Greater local presence often means they will have a better ability to meet the needs of your property due to a larger base of employees, connections and resources. Not only will they be familiar with and have existing relationships with local suppliers, but there are also economies of scale that can be secured by working with a company that represents multiple properties in a single market.
An asset management company should have strong relationships with sellers in your area. This would mean that they are able to get all the material needed for regular maintenance, as well as capital updates at competitive prices. This can help prevent excessive growth in operating costs.
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You should also consider the reputation of the whole team. While the quality of the managers you work with is important, the job is as good as the people doing it, so it’s important to know the reputation of the construction staff and engineers.
In addition to relationships with sellers, it is equally important that your real estate management company has a good reputation among its tenants and other building owners.
As you can see, there are many things to consider when choosing a real estate management company. While credibility and reputation are important, these are just a few considerations. Ultimately, you should choose based on the needs and budget of your company. Explore and compare different local real estate management companies and make sure they fit your preferences.
A good asset management company can create or break the owner / tenant experience. In general, their role in organizing finances, servicing tenants, and maintaining a building adds more value to a property than an asset management company charges for rent.
How To Choose The Right Commercial Property Management Company
The tenants and owners are big Graham fans. No one can deny: tenant relations and customer service are her specialty. Graham works to ensure that property owners achieve their goals and ensure excellent relationships with tenants in the process.
We will send you an email every month with our best content from a month ago. You can also manage your subscription settings. Owning and managing a commercial property takes a lot of time and effort that you as the owner may not have. A real estate management company offers a range of services to facilitate property ownership by taking many everyday tasks off your plate. Whether you expect extra income or take advantage of long-term assets, hiring a third-party asset management company can help you achieve your ownership goals.
In this article, we will discuss the role of property
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