Commercial Property Management
Managing Your Property As If It Were Our Own
Wallace & Wallace, Inc. offers complete facilities management services to include full accounting reporting, as well as the property oversight. We will work with the Owner to provide the services they need. If facilities management is the sole requirement, Wallace & Wallace, Inc. can provide the facilities management component, while allowing the Owner to keep their financial reporting “in-house”. Wallace & Wallace, Inc. will proactively handle building maintenance requirements, vendor relations, response to Tenant maintenance reports and issues. Wallace & Wallace, Inc. provides a written, monthly inspection report to property Owners detailing current conditions of the property, common areas and both Tenant and property issues. Working with your Commercial Leasing Agent, Wallace & Wallace, Inc. cultivates a partnership to manage your development to maximize the financial success of your commercial development.
Advantages of Facilities Management
- Professional property management services are gaining prominence because those services, to a large degree, determine the final image, atmosphere, Tenant appeal and cash flow of a commercial property. Without Tenant appeal, many commercial properties have failed. Professional property management can be as important as location and the physical structure in contributing to the financial success of a commercial development.
- Professional property management maximizes revenues by reducing Tenant turnover, while enhancing overall profitability and minimizing operating costs. This ensures the performance and financial goals of the Owner are met, while relieving the Owner from the day-to-day operation and response demands of a commercial property.
- Professional property management allows a positive third party buffer between the Owner and the Tenant. Wallace & Wallace, Inc. will act as the Owner’s agent in responding, communicating and acting upon problems and issues, while at all times, responding first and foremost to the best interest of the Landlord.
Frequently Asked Questions
Q What types of property will Wallace & Wallace, Inc. represent?
A Wallace & Wallace, Inc. has the expertise to manage all types of commercial property: retail shopping centers, strip centers, single tenant buildings, office buildings, warehouses, retail/office/industrial condominiums, multi-tenant buildings.
Q How does Wallace & Wallace, Inc. work with Commercial Brokers?
A Wallace & Wallace, Inc. cultivate a partnership with your Commercial Leasing Agent to build a team that best supports the Owner. By developing an open line of communication, we will work with each other to maximize the benefit to you, the Owner.
Q What services does Wallace & Wallace, Inc. provide?
A We can provide both accounting services and facilities management. Our accounting services include rent collection, vendor payables, financial reporting, all accounting. If an Owner prefers only facilities management, Wallace & Wallace, Inc. provides selection and oversees the vendors providing services to the property, maintains Tenant relations, responds to maintenance needs and works hand-in-hand with the Leasing Agent to maintain maximum profitability to the Owner.
Q How does Wallace & Wallace, Inc. calculate fees?
A Each property is handled independently. Based on individual need, we negotiate either a flat fee per month or a percentage of rents collected.