I've been reading books on property management ( Principles of Real Estate Management, Ultimate Property Manager etc) and am even fortunate enough to receive mentoring from many successful real estate investors and managers. I would like to ask you guys about Commercial Property Management. Is Commercial management easier than Residential Management due to more professional and established tenants? More lucrative due to higher rents? How's business Overhead? I would like to hear about your experiences and opinions on commercial properties. Thanks guys.
Also if you have any reading material to suggest regarding Commercial property management or just property management general that would be appreciated.
You'll get less percentage for commercial but that will likely still result in a higher income. You will, however, be expected to know the game well and produce results. You'll likely have to put together a thick booklet explaining your process and plans for operations just to win the account. And if you don't produce results you'll be fired.
Look into readings and courses from IREM and possibly even CCIM if you want to get more familiar with commercial in general.
@Derek Carroll: Thanks for the reply Derek, are flat fees more common than taking a percentage of gross income in commercial property?
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