Owning a commercial property can be an excellent way to invest and generate passive income to build your wealth over time. However, if your commercial property is not managed properly, it can also become costly and frustrating. Following some essential property management tips can help ensure your investment remains profitable and stress-free.
Understanding the potential return on investment (ROI) for your commercial properties is necessary so you can control and manage risks to achieve your financial goals. Here are three property management tips that will help you improve the ROI of your properties.
As a property manager, your schedule is hectic. Between tenants, vendors, and lenders, it feels like there are not enough hours in your day. Prioritization is key. Have you considered the power of commercial property management software? Let’s discuss how using property management software frees up your time so you can make a bigger impact every day and eliminate the most common costly errors.
Understand Market Trends in 2025
To get the maximum property income, it’s important to know how the market is doing right now. The commercial real estate market in 2025 is affected by many things, such as inflation, interest rates, cost of labor, cost of insurance, tax increases, and vacancy rates. Property managers can make choices based on data if they know about these trends.
The state of the local market also has a big impact on investment income. Knowing about the unique factors that affect your area, like the number of jobs, population growth, and services available, can help you adjust your market rates and strategies to meet demand. For example, if the job market is doing well, more people may be purchasing services in the local area, and the foot traffic is higher. This creates demand and allows for higher rent per square foot. On the other hand, you might need to change your plans to stay competitive in places where the population is going down or where there are too many vacancies in the area.
Also, staying up to date on the latest trends in real estate investments and property management can help you come up with new ideas that could increase your return on investment (ROI).
Improve Time Management
One of the most useful commercial property management tips to produce a great ROI on your properties is reducing the time spent on your daily activities. Successful property management involves tracking daily tasks and events involving your properties. From scheduling building maintenance to running cash flow reports, property managers know how to let software do the heavy lifting. Having a centralized view of your portfolio has never been easier than through professional property management software. If you are still running your operation by hand and on paper, you are limiting your efficiency.
Commercial real estate management software automates bookkeeping tasks, freeing your schedule to focus on more important uses of your time. Automating routine tasks saves money, so employees are no longer paid to input data. The more time you have available to communicate with your tenants, investors, and property owners, or look for the next opportunity, the better.
See Real-Time Data Instantly
When making financial decisions for your commercial properties, it is vital to look at accurate, current data. Without seeing the correct information, you are putting your property’s profit at risk. If you are managing out of QuickBooks and spreadsheets, or QuickBooks, spreadsheets, and other residential-first software, this makes it extremely difficult to manage.
Commercial property management software allows property managers to access reports, payment data, and other information instantly. Many commercial real estate owners rely on QuickBooks for managing their financials. However, QuickBooks was not designed specifically for property management. QuickBooks is an excellent choice for accounting for businesses, but it falls short when it comes to tracking day-to-day operational activities associated with commercial real estate.
That is where software targeted at commercial property management comes in. Commercial property management software is designed for tenants with complex, multi-year leases. This allows for reminders for tasks and events like rent increase dates, renewal options, and scheduled maintenance days. With the right software, you can see your cash flow on demand. The software helps you determine the best course of action based on real-time data.
Instead of taking days to gather information for a plan, data gathering and decisions are made within the same day. Real-time data provides vital information for landlords and tenants. Rent payment history, operating expense charges, leases, and other data are accessible to tenants. This increases transparency among tenants, builds trust, and provides for a more professional experience.
Access from Anywhere with Any Device with STRATAFOLIO
Commercial real estate management software allows property managers to access their data from anywhere, anytime. Your property’s data is saved to the cloud, making it easily accessible when you are away from your office. Information stored in the cloud is secure and straightforward to navigate. You control access to any document stored in the cloud. Each team member has access to, or is restricted from, any data stored within the cloud. Integrating property management software allows easy access and sharing amongst employees, tenants, and vendors. In contrast, data stored on a desktop requires physical hardware and access to maintain.
Commercial real estate management software streamlines daily tasks to make your property run smoothly. Not only does it automate your tasks, but it also helps with tenant and vendor assignments. Property management software increases communication between you, vendors, and tenants. This ensures your property runs efficiently. If you need help automating your daily tasks, STRATAFOLIO is one of the best commercial property management software programs that suits you best. Schedule a 1:1 demo today!
