How can quality property management best enable clients to market and sell a commercial real estate property?
In the sales process, information exchange and communication are critical. Quality property management will help to provide credibility to a prospective buyer. The management firm should bring comprehensive financial, contract, specification, tenant history, and operational information and history to the sales offering and due diligence process. Also, providing evidence of good tenant relationships and tenant satisfaction through tenant survey results is beneficial. A manager should also be keeping detailed information regarding preventative maintenance on all major pieces of equipment. A history of completed maintenance, repairs and improvements at the property will prove the seller’s reinvestment in and past maintenance of the property. The buyer’s due diligence period is a key point in price negotiation and a well-maintained property with historical documentation will tend to fare better in this process, preserving the seller’s exit value. Most buyers will still perform their own fi
