A crucial aspect of property management involves striking a balance between property upkeep and expenses. According to Real Estate Asset Manager Mike Larkin, it's important to maintain the appearance of a property while remaining conscious of the financial contributions made by tenants and landlords towards its maintenance.
Another important consideration in commercial property management is communication. Property managers must keep tenants and landlords informed about any maintenance issues or planned repairs, as well as the associated costs. This helps to build trust and transparency between all parties involved, and can also help to identify opportunities for cost savings or efficiency improvements.
Overall, effective commercial property management requires a careful balance between building maintenance and costs, coupled with clear communication and a focus on maximizing value for all involved.