So, it’s a New Year! Is it the right time for a change?
As year-end books get closed and annual financial reports go out, commercial property owners and investors often contemplate if their commercial asset’s value is truly being maximized.
- Did we put in the best tenants?
- Did we retain the right tenants?
- Why is this space still vacant?
- Did we spend too much on projects that didn’t need to be done right now?
- Were there projects we should have completed that would have saved the property money in the long run?
It is during these times of reflection that an owner may begin to wonder if their leasing and management teams are truly giving them the attention and service their commercial asset deserves. Unfortunately, it is usually either a big mistake or a long history of inactivity that actually drives an owner to make a change in management or leasing teams. Just as those management and leasing teams may be guilty of, owners can also be reactive instead of proactive when it comes to managing an asset.
As a property owner and landlord, you make decisions that affect the sustainability and stability of the property and those decisions ultimately affect cash flow, for better or for worse. Arguably, the most impactful decision is choosing the right team to lease and manage the property.
We, at Stafford, understand the importance of that decision because we’re also owners and landlords. We know that having the right people, empowered with the right procedures, is what every asset truly needs to maximize value and minimize risk. We’ve spent the last 50 years in Commercial Real Estate honing those procedures and have the expert teams in place with the tools to execute and deliver.
While timing shouldn’t really be a factor in changing a service, the beginning of the year is a great time to position your asset for ultimate success. If you’re an owner and can’t confidently answer in the affirmative to those questions you ask yourself as you reflect on your asset’s performance in 2018, make that proactive decision to implement the change needed for a successful 2019.
For more information about Stafford and our services and to receive a free consultation of your property, please contact Craig Caldwell, EVP, 404-735-2551 or email@example.com.