Ah, that new space smell. You know, that feeling when you, a new tenant, walk into your newly leased space and see the emptiness, the possibility in the air, the ideas springing onto the plain white walls and metal warehouse enclosures.
Just look here, at this flex space at 18397 NE 4 Court. What could this room someday be? Leading to a warehouse, it could be an office. A few wooden oak desks along the floor, employees sitting happily working through the day. Or it could be a break room — a coffee machine in the corner, a water tank bubbling, and a microwave beeping with someone’s hot lunch. The possibilities are endless!
Warehouse space can just give you the chills (and that cold concrete floor doesn’t help!). Look at the potential here — you could store a million things, house dozens of pieces of equipment. Surprise! This is the same space as above, at 18397 NE 4 Court, and we bet you couldn’t even tell, could you? What other surprises hide in every open space? Doors could lead to anywhere: warehouse rooms, office rooms, flex space. It’s up to you to make them your own.
Even the bathroom has potential, plenty of wall space for hanging decor—a humorous sign? An “All Employees Must Wash Hands” notice? The space is yours to craft, and with hundreds of different spaces available from Genet Property Group, each one invites its own opportunity for customization to your business and personal needs. Our favorite thing about a brand new space? The day you move in. What’s yours?
Leasing property—in essence, trusting individuals to maintain and utilize a space that you own—is risky business. Not only must a responsible property manager trust a lessee, they must also maintain certain safeguards that secures their property in the event that risk leads to a real problem. Mitigating the risks of property management is important in every interaction with a tenant and with the leasing of property.
Say for instance, a tenant wants to lease an open spot in one of your commercial buildings for a bakery. What are some of the risks inherent in this particular lease agreement? For one, the potential tenant’s financial stability, their education, and their level of experience all pose a risk—can they afford to pay rent? Do they have the proper knowledge of renting a property and beginning a commercial venture? Are they skilled in the entrepreneurial field they want to pursue? Performing thorough background checks and interviews with tenants can mitigate these risks.
Say the example tenant seems perfectly capable of opening their bakery after a background check. What are some risks that still exist? Well, how about the risk of damage to the property from the cooking equipment necessary for the business: fires, water damage, etc. How about the risk posed by the number of people who will require access to the building, or the popularity of the space in the event that the business is a success? Requiring proper insurance, liability for the tenant in the event that any damage occurs, and security measures such as proper lighting, locks, and security staff, can ensure that these risks are mitigated.
More so than other lines of work, property management generates plenty of risks. However, knowing the steps to mitigate those risks can ensure your property stays secure, and ensures that relationships with tenants are mutually beneficial as well.
Choosing real estate to lease is tough—we know. It requires a lot of driving, looking, walking, judging, comparison, and too much time out of the day getting to different buildings and locations. It’s important to look at all of the feasible options when shopping around for a rental property, but does it have to be a pain and a big time drain? Well, not when your potential property manager does the work for you. We know our spaces inside and out, and we provide helpful, descriptive webpages for any you might want to come look at. We at Genet Property Group think of it as taking away some of the burden that comes with “blind date” property shopping.
But what if you could view a space without even going there—spy on all of the nooks and crannies without lifting up your car keys to drive on over? Sounds impossible, downright wild. Well, that’s why we at GPG have taken the time to create Video Tours of a number of our properties, allowing potential tenants to inspect the location as if they were there in person. Upon request, we also have detailed and numerous photos of each property available for rent—just ask your GPG representative for a sneak peek. This way, when you go to look for a property, you’re not going in blind. Since adding these resources, GPG has had a significant drop in the number of potential lessees who have to run home halfway through a showing to feed the dog or have a friend call with an “urgent emergency.”
Don’t believe us? See it with your own eyes. And if you like what you see, it could be all yours.
Delray Office Space
51 Davie Flex Space
3430 Lauderhill Warehouse Space
Our top tips:
- Take photos and videos
- List your business on site likes Google, Facebook, Twitter, Linkedin
- Write a blog post
- Go to local events
- Post your properties in local property books for lease
- Reach out to website such as Zillow or Rent.com if your property is residential
- Host open houses and events to draw-in customers
- Partner with facility services and others who may bring in customers
People are always looking for property. The demand for space to host businesses or store equipment is never low, so as a property manager you’ll always have the chance to draw in more customers. However, you’re competing in the market with a slew of other property managers out there. Whether or not you have better space, your buildings are located more centrally, or your customer service is killer, you have to make sure potential tenants are seeing your properties first. Marketing your property is one of the most important steps in being a property manager, and there are plenty of steps you can go through to make sure your spaces are at the top of the list when a tenant goes searching.
Make sure that you take extensive photos and videos of your properties so potential tenants know what they are getting — posting these to your website or submitting them to a local property catalog will boost your presence in the area. By going to local events, writing blog posts, and listing your property management business on sites such as Google, Facebook, Twitter, and LinkedIn, you can also attract more people interested in the property management business and increase your credibility in the market. Reaching out to other website such as Zillow.com and Rent.com to list your property, mostly if it’s residential, can also stack your properties against the competition.
Welcoming potential lessees is the key here — host open houses to draw in customers and partner with other businesses, such as facility services and air conditioner providers so that other companies will recommend you to their customers. The phrase “if you build it, they will come,” isn’t always true — but if you invite them in, they have no reason not to!
Dear Office Space Located in South Florida,
I wanted to tell you how happy I am to have you in my life. I had many options when it came to office space, and let me tell you it was a hard decision to make. With so many options in South Florida, and with such good looking features everywhere, I almost couldn’t decide who I wanted to spend the next contracted five years with. But, in the end, I knew that you were the one. Do you want to know how I knew? It was those property managers—you know, the ones with Genet Property Group. With approximately 1.5 million square feet of space for rent, I’m amazed at their consistent professionalism and quality (they sold you so well).
Office space, you’re so well located. You’re the perfect size (which was easy to determine by discussing with the property professionals at Genet Property Group). The maintenance is reliable, the possibilities are endless, and I love the security I have knowing that I will always be supported by your helpful staff.
Office space, it’s been a wonderful first few months. I could never forget the process of moving in, the decorating, the connection of phone and internet service, and the registration of our company to online maps services to build our brand. And even if it doesn’t work out in the end, and you no longer fulfill my growing needs, I know that afterwards I will have the option to move on to even bigger and better options, all within the Genet Property Group family. (I hope you won’t be jealous.)
Thinking of delving into the profession of property management yourself? While we’re always here to serve as excellent property managers, Genet Property Group definitely isn’t afraid of a little competition in the business—in fact, we welcome anyone interested in managing property to read and learn all they can about the profession! We even love to brush up on information ourselves, making sure that we keep useful information and common questions in mind no matter what situation we may be in. So, whether we’re dealing with clients, writing blog posts (Hello!), or reading books, we’re always devoted to the profession of property management. That’s why, if you’re looking into property management, you should be too. It’s also why we recommend Brandon and Heather Turner’s The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits.
Don’t be thrown off by the long title. The Turners, property managers themselves and owners of Open Door Properties LLC, craft in their book a useful outline for interested property managers who might not know much coming in. Clocking in at 392 pages, it’s a bit of a read, especially if you are indeed planning on starting with property management (because if you are, you’re bound to be busy). Nevertheless, it’s vital to absorb as much information and advice as possible—learning from the mistakes and successes of others is always better than making the same mistakes yourself, and it just might lead to brighter successes.