The commercial property market in Jersey is not without its pitfalls.
However, with many years’ experience in property management, sales, leasing and valuations, the team of Chartered Surveyors and commercial agents at Broadlands Commercial have become experts in all aspects of it.
What makes Property Management essential for properties?
Very few people really understand how important effective property management is and how it can really improve both Landlord and Tenant relationships. Today, the team explores seven key reasons why property management is crucial for real estate ownership, from enhancing tenant relationships to maximising returns and ensuring legal compliance.
1. Tenant Management
Hands-on tenant management can be both time consuming and costly to landlords. Our experienced property managers have the expertise to handle these tasks efficiently, ensuring great customer service and positive outcomes remain at the forefront of any decision.
By addressing tenant and landlord concerns promptly and professionally, we build a long lasting relationship which is crucial in securing stable income and reducing vacancies. Providing an excellent service in such a small island demographic also helps to attract new tenants, ultimately benefiting property owners and investors alike.
2. Maintains the property in its best condition
Our property managers are responsible for keeping the property in its best possible condition in line with good estate management and RICS codes of practice. This means overseeing a planned preventative maintenance programme, instructing and implementing third party assessments and carrying out regular site visits. Our purpose built management system allows our team to keep track and log all lease events and maintenance tasks, whilst having access to a network of trusted contractors and service providers guarantees a fast and efficient service.
3. Maximises profit and returns
A key part of property management involves setting service charge budgets and managing expenses. Our experienced team manage properties ranging from large industrial estates to prime offices along the Esplanade, with everything in-between. For busy investors or business owners, outsourcing the management allows them to focus on core operations, resulting in a stress-free investment experience and more efficient use of their time.
4. Ensures legal compliance
Our team of property managers are fully trained and continue their development through various courses and CPD events, both locally and in the UK. Keeping up to date with the ever changing landscape is fundamental in ensuring both owners and tenants are fully compliant against their duties and responsibilities. By staying informed on new regulations, we are able to provide proactive advice, mitigate risk and maintain a high standard of service.
Our experienced team manage properties ranging from large industrial estates to prime offices along the Esplanade, with everything in-between.
5. Handles emergencies promptly
A major responsibility of a property manager is the task of handling emergencies, such as burst pipes, severe weather events, and the like, as effectively and quickly as possible.
Experience in handling emergency situations, especially those after hours, is a valuable skill, reducing the loss and impact on all parties. Our effective 24/7 call-out procedure covers all emergencies ensuring the right professionals are onsite promptly to address the issue and minimise damage, cost and disruption.
6. Keeps up with industry trends
Our property managers consistently keep up with industry trends to ensure they are always equipped with the most current knowledge and strategies. By attending regular training sessions, industry seminars, and staying informed about shifts in legislation and market dynamics, they are able to adapt quickly and effectively.
This proactive approach allows them to anticipate potential challenges, make informed decisions, and provide the best possible service to both property owners and tenants. Staying ahead of the curve not only ensures compliance but also helps in optimising property value, minimising vacancies, and fostering positive tenant relationships, all of which contribute to the long-term success of property investments.
7. Provides accurate financial reporting
Financial reporting is essential in property ownership and providing accountability and transparency to both investors and tenants. From GST reporting to service charge budgeting and reconciling, we boast a seasoned accounts team who also have relative experience in property management allowing for smoother operations. They provide regular reports on both rental and service charge income/expenditure together with copies of all invoices paid. The accounts team are also in charge of demanding the rental and service charge monies from the tenants which are kept in separate bank accounts and reconciled monthly in accordance with strict RICS codes & regulations.
Get the best Property Management Services for your property
Property management can be a tedious task. It requires a proactive approach, so you can meet the needs of your tenants whilst providing both financial stability and legal compliance. A well-managed property not only enhances its long-term value, but it also maximises your return on investment.
Broadlands Commercial boasts a team of seasoned management professionals with deep industry knowledge, enabling clients to navigate the ever-evolving commercial real estate landscape with confidence. Broadlands Commercial remains committed to maintaining the highest level of client service, with a focus on delivering management tailored solutions to meet each client’s unique needs.
Please do get in touch with the team at Broadlands Commercial to see how we can help. Call on 01534 874141 or send us an email at [email protected]
Main picture: Left to right – The Broadland’s Commercial team – Nick Trower, Elsa Taylor, Luca Celiberti, Michael Caro and Guy Gothard
