Orange County Commercial Property Management Services
In the current climate, many realtors specializing in commercial property management in Orange County CA are noticing a spike in foreign buyers and the commercial real estate market. According to Real Capital Analytics, commercial real estate purchases by foreign investors took a turn up from $468 million in 2014 to $2.3 billion at present. Condominiums are relatively attractive to foreign buyers, mainly because of the all-inclusive features most contain. They offer an easy, turnkey package of amenities, luxury, and security all in one go!
Furthermore, although a condominium owner will see a significant return upon the sale of their unit, they are just paying off the mortgage and tax until then. The ability to sell and eventual yield is all completely dependent on the typically fickle condominium market. As a result, more savvy buyers understand that they can generate revenue by renting one’s unit out for commercial purposes.
Why commercial and not residential?
So what is the difference when it comes to investing in commercial or residential? There are actually many of benefits to going commercial, especially when you have a great commercial property management in Orange County CA to nurture your relationship with tenants and protect the property with regular checks etc.
A landlord’s biggest concern can often be whether a tenant will renew their contract or not. This can often have a knock-on effect of paying the bills and cover yourself for a couple of months until you find someone else. A residency contract is usually reviewed and can be turned over every six or twelve months. However, a commercial tenancy can continue for years! The tenants usually occupying the property invest a lot of time and effort into making it look right for them, which usually prolongs the length of the tenancy overall.
Return on investment for commercial properties accumulate a very high rental yield in comparison to residential investments. Earning potential is why so many often lean towards commercial property investment. Finding commercial property management in Orange County CA will just help to boost this and nurture your tenancy to ensure contracts are happily renewed and rates meet the standard.
Standards are more likely to be maintained
Especially for those tenants who work in a retail industry, they want their store (your property) to be in the best condition possible. Unlike residential tenants, their ideals and aspirations for the property align with the landlord. As a result, your property is much more likely to be maintained to a high standard.
Less midnight calls from tenants
As the business usually falls in line with working hours, the property is only occupied during the day, when you work. This way, the amount of panic phone call about an issue in the property is reduced significantly. Your free time as a Landlord can actually be your free time, bar the odd emergency alarm you have to attend to. The best property management companies in Orange County CA will take care of those too if you wish so you can really sleep easy!
As you can see the advantages of owning a condo alone are very appealing. Whether for renting for residential or commercial purposes, you can lease or rent to generate passive income which provides you with a predictable cash flow each month, outside of your profession. Furthermore, the appreciation potential whilst it is being rented is incredibly attractive and will leave you sitting on a small goldmine after a number of years. To support you in nurturing your lucrative investment, a commercial property manager will take everything off your hands and use their experience and industry knowledge to ensure your earning potential is optimal.
Orange County commercial property management services are highly recommended when investing in a commercial property rental. They take care of all the time-consuming tasks, including building a great relationship with your tenants and ensuring that everything follows legislation so you can focus on your own life. By ensuring everything is taken care of, they minimize the risk of any legal suit, and also the loss of money by ensuring the conditions are kept to a high standard. Going for commercial property management in Orange County CA will give you peace of mind in knowing that your property is being well taken care of and that everything is being done according to California laws and regulations. The most important thing to consider is which property manager to choose. You want someone that is trustworthy, reputable and has an in-depth knowledge of the market.
Goodman Management Team have over 25 years of industry experience under their belt and are highly reputable across the Orange County area. They have strong hands-on approach to really tailor their service to each customer, making you as a Landlord feel incredibly valued and understood. The team is comprised of qualified property managers with many also having backgrounds in handyman type skills such as engineering, plumbing, and electrician type work. As a result, they often go and fix any repairs themselves to save their customer’s extreme rates by external companies. They are very highly regarded when it comes to commercial property management in Orange County CA and will help you to become a successful and very satisfied landlord.