An often overlooked issue relating to investment strategies is professional property management. With all due respect to investors, young and old, a part of successful investment strategy should include a strong professional property manager or property management company.
In an attempt to define what constitutes a professional manager in one sentence, I offer the following: a professional manager can be defined as a person(s) or organization skilled in directing and controlling a real estate asset, who oversees resources and expenditures; and, has extensive education in construction, design, site planning, ADA, materials, law, insurance, government regulations, tenant relations, tenant retention, crisis planning, negotiating, inspections, termites, mold, lead paint, asbestos abatement, BOMA standards, zoning regulations, fire codes, building codes, re-imaging, retrofitting, energy conservation,....
Okay, maybe one sentence was unrealistic.
But there are people out there who can do all of those things, and do them well. And, we're darn proud of it.
The bottom line: Professional property managers can save a lot of time, frustration and expense, which can lead to increased profitability, better health, and return on investment. Professional managers will let you take the credit, along with your increased profits.
Contact an AMO (Accredited Management Organization), A CPM (Certified Property Manager) or CSM (Certified Shopping Center Manager). Most who seek these designations have committed to educating themselves and have elected to pursue a career in this vocation.