Is there a market for property management of small commercial properties? Strip mall, business parks, industrial?
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[{"id": "eeotree", "text": "I\u2019m not sure where you are located but have you tried working with a larger RE company where you would manage a portfolio rather than just one plaza? I currently work for a retailer that will buy, then manage their own properties. Typically with a portfolio of 20+ stores and 200+ tenants ", "replies": [{"id": "eeovl5t", "text": "Located in Kansas City, I am in the commercial construction industry and in my experience all the big local RE companies will assign a PM to multiple properties. However, I could see the advantage of a development company outsourcing the management.. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "eeotthw", "text": "Yes.  There will always be small - mid sized investors looking for property management as a service.  Depending on the market, they charge between 5-10%", "replies": [], "depth": 1}, {"id": "eeozvbj", "text": "If these are typically triple net leases, what exactly are you planning on managing?", "replies": [{"id": "eep3bbr", "text": "That was one of my concerns.. The strip center I managed in college was all NNN leases. I was essentially on call 24/7, a liaison between the owner and the (10) tenants, common area maintenance, and acted as an owners rep on small construction projects for landscaping and parking lot. For a flat monthly fee. \n\nI\u2019d be pursuing properties where the owner is more involved like a build to suit type of lease.", "replies": [], "depth": 2}], "depth": 1}, {"id": "eeph2qw", "text": "To an extent. It depends how the lease is structured. For example, if they are NNN, they are probably doing the majority of repairs themselves and probably wouldn't need a PM vs. a gross lease.", "replies": [], "depth": 1}]