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Essential Tips to Protect Your Home From Wildfires

7/16/2024 (Permalink)

Firefighter Hosing a Wildfire | Essential Tips to Protect Your Home From Wildfires Firefighter Hosing a Wildfire

Essential Tips to Protect Your Home From Wildfires

Creating a safety zone to fire-proof your home and yard can keep your family and valuables safe from damaging wildfires. Implementing some effective yet simple tips can increase the chances of preserving your house during fire season, ensuring you can enjoy it with family and friends for years to come.

Defensible Space is Essential

One of the most important strategies to protect your house from wildfires involves creating a defensible space around the perimeter of your home. This buffer zone can prevent fire from reaching your house. The space around your house should be free of flammable materials. Start by clearing vegetation, which removes dead plants, pine needles, dry leaves, and other organic debris from your yard.

Prune trees with branches hanging over your house and perform additional trimming to make or keep space between the other trees on your property. Enhance your yard with fire-resistant trees and shrubs, planting them so they will have a safe distance between them even when fully grown. Keep your lawn regularly mowed; do not let the grass height exceed four inches.

Use Building Materials With Fire-Resistant Properties

If sparks or embers land on your home's roof, it could catch fire, depending on the roofing materials used. Class-A fire-rated materials such as tile, asphalt, or metal shingles are the best types of roofing to protect your home from fire. Instead of wood siding, choose fire-resistant materials such as brick, stucco, or fiber cement siding.

Add additional protection by installing double-pane windows or tempered glass to reduce the heat that could penetrate your home if a fire is nearby. For decks and patios, use fire-resistant building materials and avoid combustible decking. Some plastic and wood-plastic composites are potentially combustible and should be replaced with ignition-resistant or solid materials like concrete. Consider applying a fire-retardant treatment to any wood roof shingles or other vulnerable areas of your home's structure.

As an additional layer of safety, have fences, gates, and any other attachments built from fire-resistant materials, and ensure that garages have fire-rated doors and walls. Fire-resistant doors are also available, adding extra protection, but they must be appropriately sealed to ensure they function as intended. The doors are designed to stop smoke, flames, and, in some cases, conductive and radiant heat transfer.

Install Devices to Arrest Sparks

Cozy fires are lovely on a cold night or a balmy summer evening, but sparks and embers can fly out of the chimney, land on leaves, dry grasses, or trees, and start a fire. To ensure your home is safe, fit all your chimneys and stove pipes with chimney caps with approved spark arresters. They should have fine-gauge screens made of fireproof mesh. Spark arresters should also be used on vents from the attic, foundation, and soffit.

Regularly inspect and clean spark arresters to ensure they remain unclogged and function as intended. Local building codes and standards may dictate the type of spark arresters you must use, so ensure you are in compliance when making your choice. Chimneys, vents, and soffits should also be regularly inspected for damage.

Create a Zone of Fire-Resistance for Protection

You can protect your house from wildfires by making simple changes to the yard and land surrounding your home. Remove combustible or flammable materials close to the house, keeping them at least 30 feet away from structures.

Wood chips are commonly used as mulch in landscaping but are combustible, so consider switching to mulch using non-combustible items such as gravel, rock mulch, or pavers in your yard. For outdoor furniture, consider choosing items made of metal or other non-combustible materials, and use seat cushions and pillows that use fire-resistant fabrics for your decks and patios. Aside from trees and grass, choose low-growing, fire-resistant plants in your landscaping to maintain a zone around your home that will not fuel a fire.

Keep Roofs and Gutters Clean and Maintained

To reduce the amount of available fuel during fire season, it is essential to clean gutters and roofs regularly by removing built-up needles, leaves, and other organic debris. Additionally, you can install non-combustible gutter covers or metal mesh screens to guard the gutters and prevent any material inside them from catching fire. Routine maintenance can also prevent storm damage, ensuring that your gutters and roofs are in good repair to effectively manage debris and heavy rainfall. Catching potential roof storm damage early avoids complications that might otherwise exacerbate fire hazards.

It is a good idea to have a roof inspection to check for any gaps or damaged shingles and have them repaired, preventing flying embers from entering. Any downspouts from the roof should be inspected to ensure they are clear, do not have impacted leaves or needles, and are directing water away from the house.

Keep Firefighting Equipment On Hand

Depending on where you live and the fire risk, keeping firefighting equipment on the property might make sense. At a minimum, you can protect your house from wildfires by having garden hoses long enough to reach all areas of your yard and keeping them connected and functioning. Also, sprinklers can help keep the ground damp and reduce the chance of igniting plants or grass.

Purchase fire extinguishers and keep them readily accessible in critical locations around your home, ensuring they are adequately maintained and work if needed. If you need to keep your home wet under threat of a fire, ensure that you have access to a reliable water source such as a well, pool, or cistern. Finally, you may want to consider a backpack fire pump, a portable pump, and a water tank that enables you to mount a quick response against any fire threat.

Have an Emergency Plan

Having an emergency plan for yourself, your family, and your pets is critical to getting to safety as quickly as possible in a fire. Identify evacuation routes, make sure you have multiple options, and practice them with your family.

Establish a way to communicate with each family so that you can stay in touch during the emergency and ensure that everyone understands the plan. Assemble an emergency kit with the essentials like water, medications, food, and important documents. Additionally, plan how you will stay informed to monitor alerts and local news regarding wildfire updates.

Participate in Developing a Community Plan

The neighborhood stands a better chance of making it through a fire event if everybody works together. Collaborate with your neighbors to prepare a wildfire preparedness plan as a community. You may consider joining a local neighborhood watch or creating one to dispense wildfire information and alerts.

Neighbors are invaluable for sharing resources like equipment and fire safety information to ensure everybody is better prepared. In the event of a fire, community members can work together to create fire breaks and maintain the buffer of defensible spaces to protect their homes.

Defend Your Most Precious Assets

Taking a proactive approach to making your house fire-resistant can save your property and, more importantly, save lives. In a fire, SERVPRO® restoration services can help get your house, yard, and life back to normal as quickly as possible. Contact our expert team today to see how we can help. 

Effective Budgeting Tips for HOA Communities

7/16/2024 (Permalink)

Person calculating a budget | Effective Budgeting Tips for HOA Communities Person Calculating a Budget

Effective Budgeting Tips for HOA Communities

An HOA budget is essential for effectively allocating funds, establishing fees, and preparing for needed community improvements and repairs. Here are some useful budgeting tips for HOA communities.

Cover the Essentials

There are five main steps for creating an effective budget for an HOA community, as follows:

  1. Determine revenues—Determine how much money the HOA is earning from homeowner assessment fees, rental income, fines for violating rules, and fees for events.
  2. Evaluate expenses – Identify how much your HOA spends on community enhancements and operational costs and how much it allocates to a reserve fund.
  3. Devise a plan – Develop a plan for how to apply your HOA funds based on your needs and goals for the community, such as surveying community homeowners to discover that many residents consider water damage restoration a current pressing need.
  4. Examine previous budgets – Assess how well past HOA budgets performed in projecting and meeting costs and saving for future needs.
  5. Identify priorities – Determine the order in which each repair or replacement in your plan will be performed based on their urgency and importance.

All the budgeting tips for HOA communities that follow are most effective when founded on this kind of clear and comprehensive foundation.

Keep the Community Front and Center

Your HOA budget is designed to meet the needs of your community, which means you must know the members of your community well enough to understand their needs. Make sure your budgeting choices help improve the lifestyles of your residents and don’t just meet your own desires and personal or outside special interests. Discuss potential community changes in board meetings to ensure everyone’s voices are heard when developing a budget that works for all.

Employ Technology

These days, there are a host of software applications that can help you avoid human error in developing and executing your HOA budget. Management tools can streamline the process, giving you more time to focus on building, nurturing, and improving the community.

Be Transparent

The homeowners in the community should be kept informed about your budgeting processes and have access to that information whenever they feel the need to review it. Keeping them informed helps ensure that everyone remains involved in creating a budget that works for everyone.

Identify Current Costs

Don’t just annualize last year’s expenses to form your budget for this year. Costs change, and for your budget to be truly practical and effective, it must account for those changes. Take the time to find out what costs have changed, even for the items you continue to pay for year after year. Applying the most current and exact numbers to your forecasts will help your budget to provide a more accurate road map for moving forward.

Prepare for the Long Term

Keeping an HOA financially stable and prepared for future necessities is best achieved by planning for long-term community improvements and projects. Ensure your budget reflects the greater community vision by accounting for long-term factors such as potential property value changes, desired community enhancements, and larger future projects. This may prompt you to allocate more money to savings to cover later, larger expenses than you can afford from a single year’s HOA revenues alone. A truly strategic annual budget doesn’t just account for a community’s needs for that given year but for its financial needs over the next three years, five years, and so on.

Maintain a Reserve Fund

With the long term in mind, don’t expect to spend all your money from HOA fees on current repairs and improvements. You also need to sock some away for the future, or else when an unexpected emergency arises, you’ll be left high and dry without the means to address it. Such possibilities can jeopardize your community’s financial health.

Revisit and Adjust

A budget is not a fixed entity but a living, ever-evolving one, just like the community it aims to serve. Recognizing and applying this awareness is one of the most important budgeting tips for HOA communities that you can find, as it will make sure your budget continues to reflect the changing face and needs of your community.

Once you create a budget, your next mission is to monitor it and continually assess how well it’s meeting your community’s needs. When necessary, adjust the budget to better meet those needs, whether that’s because of oversights in your planning or because new priorities have cropped up.

Pursue Efficiencies

Knowing what you have to pay for is one part of devising a practical, effective HOA budget; the other part is knowing how much those items will cost. These costs can vary considerably depending on a range of factors.

Shop around for the best vendors to perform the repairs, restorations, and other tasks needed. Find out if any of these vendors are planning on raising prices in the coming years and evaluate how that affects your spending and scheduling choices. Consider also how potential changes in the local and broader economy might influence costs.

You can also optimize spending by considering energy-efficient upgrades and bulk discounts. Also, consider quality when checking items off your budget; the longer a repair or improvement lasts, the less it will cost you over time, even if it costs you a little more upfront.

Allow for Delinquencies

When dealing with members of an HOA community, you will find that delinquencies, such as unpaid assessments and dues, occur. You can do all you can to get your members to meet their obligations to the community, but you can’t guarantee that it will work in your time frame. Therefore, you must build into the budget contingencies for those potentialities.

For help more efficiently and cost-effectively completing certain vital projects in your HOA budget, from regular cleaning and maintenance services to urgent mold, fire, and water damage amelioration, contact SERVPRO of Arcadia today.

Top Smart Tech for Multi-Unit Apartments

7/2/2024 (Permalink)

Home Security Camera | Top Smart Tech for Multi-Unit Apartments Best Smart Tech for Apartments

Top Smart Tech for Multi-Unit Apartments

Running a multi-unit apartment operation is stressful, but thankfully, help is available in the form of smart home technology. Smart property management technology offers so much flexibility and connectivity, and smart technology for multi-unit apartments can also provide safety and security in an emergency.

If you oversee operations for an apartment property, whether as an owner or a property manager, below are several solutions in smart technology for multi-unit apartments you should consider:

Security Cameras

Smart security cameras are a new take on traditional security cameras. These cameras often use artificial intelligence (AI) to identify potential security threats and send alerts. You or your staff can also monitor these cameras remotely from anywhere you have an Internet connection. This feature allows you to alert the authorities to problems even if no one is on-site at one of your properties or its units.

Smart security cameras provide security to tenants of multifamily buildings and also benefit vacant units and common areas. Since many smart cameras are modular and mobile, you can install them in one place and move them to another as needed. If an apartment is vacant, you can place a camera in the unit until it becomes occupied, providing greater security for your entire property and enhancing the resident experience.

Property Management Software

Property management software has also received a smart facelift in recent years, as many apps now contain AI integration for faster analysis. Using smart property management software, managers and owners can quickly vet prospective residents, send work orders, check their status, and communicate with tenants, vendors, contractors, and more.

By using smart technology for multi-unit apartments built into property management software, you may also be able to route maintenance professionals where they need to be automatic. This is particularly helpful when you have a very large staff or manage several multi-unit properties across a large area.

For example, some software can accept work orders from you or tenants, route maintenance professionals accordingly, and provide updates throughout the job. Once a work order is complete, a notification can be sent to inform everyone of the status. This reduces valuable administrative time that can be better spent handling other matters.

Smart Tours

Another way to implement smart technology at a multi-unit property is to provide online virtual tours. A smart tour is a virtual tour in which a prospective tenant can virtually walk through an apartment, select on-screen items to learn more about its features, and even virtually decorate the unit to see how it would look and feel with their style.

You can use 360-degree and virtual reality cameras to record these tours and post them on your property’s website or other online outlets. This saves time for Realtors and property managers and can also benefit prospective tenants. Instead of taking time out of everyone’s busy day to give a tour, the tour can take place on the web 24 hours a day.

Smart Flood Sensors

Flood sensors can protect your apartments in the event of storm damage. These sensors send out alerts when they detect moisture, and flood sensors can be installed almost anywhere.

In a flood emergency, you can be notified via your smart device about the problem, allowing you to take action quickly. Remember that addressing flood concerns as soon as possible is often the key to mitigating damage and making flood restoration easier.

Smoke and Carbon Monoxide Detectors

Flood sensors, smart smoke, and carbon monoxide detectors can also be crucial smart technology for multi-unit apartments. These devices can sense the presence of danger and automatically send alerts to your team or tenants. As with flooding, the sooner you know about danger at one of your units, the faster you can respond, and the easier the clean-up will likely be.

As an added benefit, these devices are modular, meaning you can move them where needed and still receive notifications. As you know, traditional hardwired detection devices often require an electrician and some demolition to install, but smart detectors can be placed in various places as your needs change. You can also add each to a network of detectors to monitor all devices in one place.

Access Control Systems

Access control is important when dealing with a multifamily property, and smart technology can help here, too. Aside from key card entry systems that include facial recognition, smart locks on apartment doors can offer tenants a digital convenience and safety feature. Smart locks can be remotely opened via a smartphone, preventing residents from getting locked out.

Smart locks can also be helpful for managers of multifamily communities. There’s no more worry about a resident blocking access upon moving out or forgetting to turn in their key. You can also reset the code on many smart locks remotely, meaning no more changing locks when a tenant moves out.

Embrace the Future of Property Management

If you want to use smart home technology for your multi-unit apartment property, now is the time to act. While it’s true that technology is continually evolving, there’s no sense in waiting to jump on the bandwagon until something better comes along. Now is the time to start implementing smart technology in your property so that you can be ready to embrace a digital future for your company and its tenants.

Contact SERVPRO® of Arcadia for Fast Help with Commercial and Residential Restoration

At SERVPRO of Arcadia, we hope you’ll never need our help, but we’re happy to provide service when you need us. SERVPRO smoke removal, fire damage restoration, mold remediation, and other restoration services are only a phone call away.

How AI is Transforming Property Management

6/24/2024 (Permalink)

City skyline and the letters "AI" coming from a tablet | How AI is Transforming Property Management AI Impact on Property Mgmt

How AI is Transforming Property Management

Integrating artificial intelligence (AI) into property management transforms roles and responsibilities, with outcomes such as streamlined workflows, enhanced efficiency, and improved profitability. From detecting trends through historical data analysis to automating routine work tasks, AI-driven tools significantly benefit busy property managers. Software and other tools use AI to deliver higher quality management, improved tenant satisfaction, and increased ROI.

Enhanced Analysis and Insights

One of AI's great benefits is its ability to manage large quantities of data, perform various analyses, and isolate trends and patterns that property managers can use to improve their business decision-making. AI in property management provides many options for managing tasks that require attention to detail, although it cannot replace the human interaction some tenants prefer.

However, one of AI's strengths is its analysis, which can assist property managers in determining pricing by considering market averages and comparable properties. AI-driven property management tools also provide predictive analytics that help owners, property managers, and investors forecast future market conditions. This provides a competitive advantage in the marketing intelligence it can deliver to help properties appeal to and attract quality potential tenants.

Data drives decision-making. AI-based tools perform deep analysis to extract useful information that would otherwise require a significant amount of time, effort, and personnel to obtain.

Automation of Routine Tasks

Property management involves repetitive tasks like processing rental applications and tenant lease renewals. AI-powered software can significantly reduce this workload, saving time and labor costs. Managing these tasks using an automated solution also increases the accuracy and efficiency of record-keeping, making it easier to streamline workflows.

For example, finding the time to track which tenants are late on their rent payments and assessing and collecting late fees no longer takes hours of administrative labor. AI-driven property management software can accomplish these tasks quickly and efficiently, which helps it pay for itself in no time.

Predicting Maintenance Needs

Property management software with an AI component analyzes historical maintenance data to predict future required maintenance and potential failure timeframes. The ability to anticipate problems and proactively schedule preventative maintenance can reduce or eliminate unexpected breakdowns and costly emergency repair services.

AI systems can also work with smart or IoT sensors. These sensors on equipment can monitor real-time information, such as temperature, energy consumption, and vibration. If a sensor detects something unusual, like increased vibration or temperature in a motor, it can predict the equipment's potential failure. The technology would then recommend maintenance before the equipment experiences a breakdown.

AI predictive tools can analyze usage data and occupancy rates to predict wear-and-tear and maintenance or replacement needs. For example, suppose the elevator in a busy office building is getting more use than usual. In that case, an AI tool can forecast the timing for parts replacement and suggest preemptive maintenance and inspection.

This feature can lower maintenance costs and adequately maintained equipment may have an extended lifespan, allowing managers to push replacement costs further. Predictive tools also increase tenant satisfaction due to fewer issues and disruptions, such as flooding during rainstorms or problems with common-area equipment such as the pool or jacuzzi.

Enhanced Experience for Tenants

Property managers and their teams spend much time responding to tenant requests and issues. AI-driven software with a chatbot can take over by providing tenants with quick, convenient support. It automates tasks such as reminders for rent payments and handling requests for maintenance and repair services. The 24/7 availability of a chatbot means tenants get help whenever they need it, which increases retention rates, tenant satisfaction, and the overall tenant experience.

Optimizing Energy Efficiency

Going green is more important than ever to reduce a property’s carbon footprint and to manage electricity and other utility costs. AI can optimize a property’s energy usage by monitoring and adjusting lighting, heating, and cooling systems. It can also analyze the occupancy of offices in commercial spaces or common-area buildings and use these occupancy patterns combined with weather forecasts to predict energy consumption and minimize it where possible. This energy management process can yield significant cost savings on the property’s utilities and pay additional dividends by contributing to sustainability goals.

Tenant Screening and Risk Management

Screening potential tenants is a multi-step process, and AI algorithms can assess rental histories, credit scores, and other risk factors quickly and efficiently. These tasks benefit property managers by helping to identify suitable and reliable tenants, reducing the risk of rent defaults and evictions. The AI-driven analysis enhances and streamlines decision-making in the tenant-selection process, which increases the overall efficiency of the property management process.

Efficient Repairs and Damage Restoration

Using AI in property management streamlines regular maintenance through predictive algorithms that identify maintenance needs proactively. It also helps manage repair projects and restoration work after unexpected events such as flooding or fire by streamlining contractor payments and other aspects of the job. Predictive tools can help property managers assess the extent of the damage, capture essential details, and prioritize a list of repairs.

In some cases, such as flood-related water loss, the damages could be extensive and require a detailed project plan to manage and track the work, vendors, insurance claims, and other details. AI tools can assist in optimizing this process, ensuring the job is completed in a timely and correct manner. More efficient and effective repairs and restoration work improve property values and ensure satisfied tenants.

Measure the ROI

Property managers and owners measure the Return on Investment (ROI) of AI-driven tools in a few ways. The time savings and reduced labor costs from task automation free up property managers and their teams to focus on strategic activities and other priorities. Property managers can also witness a positive ROI through reduced maintenance and energy costs delivered by AI-driven optimization and predictive tools.

An example of savings comes from a National Apartment Association study of technology’s impact on the apartment industry. It found that managers using various technologies to automate and streamline their work experienced 15% to 20% reductions in maintenance costs alone. Higher occupancy rates, improved tenant selection, and increased retention are additional outcomes that demonstrate improvements in the property’s financial performance.

Innovating and Staying Competitive in the Market

Adopting AI in property management through specialized software and other tools gives owners and managers a competitive edge in the market. AI-based innovation can also attract tech-savvy investors and tenants to the property. AI systems can aid in implementing ongoing best practices and continuous improvement, and as AI systems continue to evolve, they will further enhance and refine property management capabilities. Staying ahead of these technological advancements and trends in the property management industry ensures ongoing, long-term success.

The Property Management "AI Revolution"

New technologies that integrate AI functionality are transforming property management by enhancing the efficiency of everyday tasks, improving tenants' leasing experience, and optimizing energy usage and other resources. The technology is here to stay and likely has many additional improvements in store for the property management industry as AI and related property management tools evolve.

For property managers who want to keep their portfolio properties competitive and efficient, embracing AI, not resisting, is a strategic choice. Unfortunately, however, not even AI can prevent all repair emergencies. When they happen, such as a flood or fire, turn to the experts in fire damage restoration in Arcadia. The professionals at SERVPRO® have the state-of-the-art equipment and know-how to handle all your property's restoration needs, big or small. Contact us today to see how we can help.

Creative Incentives to Attract New Renters

6/12/2024 (Permalink)

DIY House Model for Rent Concept | Creative Incentives to Attract New Renters Incentives to Attract Renters

Great renters make running a rental property easy! However, attracting quality tenants requires work. With so many choices, renters sometimes need a little push to sign a lease. "Sweetening" the deal using leasing incentives for apartments can help. While you don't have to break your budget to be able to incentivize renters, it's important to remember that leaning into incentives can help you enjoy reliable long-term tenants instead of pouring money into constantly cycling through unit vacancies. This guide to seven easy renter incentives will help you to get high-quality tenants to commit.

  1. Free Parking

Including free parking in a lease agreement is a major incentive! For many renters in cities, enjoying safe off-street parking is a priority. If free parking is too far for your operational budget, consider offering discounted parking that lets tenants park their vehicles in a covered parking lot for a cheaper rate compared to competing properties.

  1. No Pet Fees

Finding pet-friendly apartments is a challenge for renters. Many resent the fact that they often have to pay a larger security deposit or higher monthly rental rate just for the privilege of being able to have a cherished four-legged family member live with them. One great way to stand out in the local rental market is to waive all pet fees. This is one of the best ways to have new renters practically lining up outside your door!

If you're going to pivot to waiving pet fees as one of your leasing incentives for apartments, you might want to consider making some alterations to your units first. If your units are currently carpeted, you could save money in the long run by upgrading to tile flooring that pets won't destroy. Property managers offering pet-friendly apartments generally charge more to account for the extra wear and tear that pets leave behind in apartments. Most actually replace carpets after pet owners move out. Tile will ensure you can get decades out of a single floor.

  1. Reduced Security Deposits

Moving is expensive. The average renter spends thousands of dollars per move when accounting for the security deposit, first month's rent, moving trucks, new furniture, and new household wares. A renter in the middle of a move appreciates a little relief whenever they can get it! That's why a reduced security deposit for qualifying renters is one of the most elite leasing incentives for apartments. This can also be an incredible strategy for attracting reliable tenants.

Let's talk about how to structure this incentive. There's no need to reduce or waive security deposits across the board. This can be a perk reserved for lease applications with credit scores that meet a certain threshold.

  1. Flexible Lease Terms

One of the biggest sources of anxiety when signing a lease is committing to a contract for a full year. What if you could attract tenants by alleviating that stress? For many people, the nature of their professional lives means contract work, semester-related assignments, or personal transitions. Very few circumstances in life fit neatly into a 12-month box. By offering flexible lease terms, you may attract dependable tenants needing shorter or irregular lease terms that won't force them to pay penalties.

"Flexible" doesn't always mean short! For example, a person taking a work contract may feel stuck in the middle because they plan to live in a city for 18 months. While you'll get a full year of paid rent from this tenant, they may be apprehensive about what will happen when they need to move out more than halfway through the second year's lease. Your flexible lease terms can allow both of you to "win" by creating clear and detailed lease details that allow for an irregular lease period.

  1. Rent Discounts for Renewals

The best leasing incentives for apartments sometimes allow tenants to look into the future to see ongoing savings. You don't necessarily need to offer an incentive that benefits a renter from the beginning. One smart strategy that inspires new leases and resident retention is offering ongoing discounts for recurrent renters. If you're like most property managers, you increase rental rates every year. Consider freezing rental rates for five years for each tenant after a lease is signed. This puts a renter in the position of not being able to find a better deal in town by the time their lease is up! They will also feel encouraged by the fact that they are paying less compared to the new tenant moving in next door after the first, second, third, fourth, and fifth year.

Some property managers take a slightly different approach to lease renewal incentives. While you may still want to increase rental rates for all tenants, you can consider offering a lower increase for renewals than newly signed leases. The bottom line is that renters appreciate renewal discounts because this gives them the sense that they have locked in a good rate that insulates them against rising rental prices.

  1. Laundry in Each Unit

Heading to a shared laundry room is considered a major hassle among renters. That's why you might consider adding a unit washer and dryer to each apartment in your complex. Seeing an in-unit washer and dryer setup in an apartment ad is a major incentive for busy renters!

  1. Apartments That Feel "New"

While many landlords assume that they can entice renters with gift cards or grocery deliveries, the truth is that most people just want a safe, attractive place to live. Nobody likes to feel like they're moving into a unit that simply feels like it's been recycled from the previous tenant. That's why having a like-new interior in a unit when it's time for a prospective tenant to walk through is so important! In addition to cosmetic updates, correcting any issues from fire or water loss before opening an apartment for viewing is essential. You can also sweeten the deal by guaranteeing all appliances are under five years old.

Final Thoughts on Good Leasing Incentives for Property Owners

Property owners struggling to stand out in the rental real estate market can dramatically improve their situation using incentives. However, luring potential tenants with big promises will only waste your time and money if you don't have quality units to back them up! If your building in Arcadia needs remediation, don't hesitate to contact SERVPRO® for all your cleanup and restoration needs.

Commercial Real Estate Technology Trends

6/6/2024 (Permalink)

Businessman holding buildings | Commercial Real Estate Technology Trends Commercial Real Estate Tech

Commercial real estate has been on a wild ride in recent years. Following lockdowns related to the COVID-19 pandemic, many companies transitioned to work-from-home to protect employees and the public.

While this trend was initially a short-term solution to a novel concern, the work-from-home movement only picked up steam, causing some companies to continue offering work-from-home options. In fact, some businesses completely reworked their plans and permanently transitioned to fully or partially remote staff.

If you’re in the commercial real estate industry, you’ve undoubtedly kept up with these changes and may wonder what’s next. We’ve put together some research to look into how technology is changing the face of commercial real estate, and we’re happy to share with you some of the latest commercial real estate technology trends to keep an eye on.

Every property management organization is different, and there’s no way to know exactly what the economy will do in the future. Still, the following trends are based on current events and emerging changes. You’re encouraged to research commercial real estate trends in your location, as real estate can be hyper-local.

Predictive Maintenance

Predictive maintenance, which uses artificial intelligence (AI) tools, is quickly becoming a hot topic and one of the latest commercial real estate technology trends. It monitors maintenance tasks and properties in real-time, updating property managers about maintenance needs.

Traditional property maintenance relies on a similar system, but AI-powered tools can adjust maintenance schedules based on variables. For example, in a traditional setup, a property will have a maintenance schedule for light bulb changes. This schedule may dictate that light bulbs must be changed every six months in certain areas.

A property that utilizes predictive maintenance tools can have the same schedule, but these tools can alter the schedule based on events happening around the property. If a bad storm causes a power surge at a commercial property, the predictive maintenance software can notate this and use real-time data to alter the maintenance schedule. Because light bulbs may be adversely affected after a power surge, the software may alter the schedule for changing light bulbs to have them changed sooner.

Another example may be where nearby construction has caused a water mitigation issue that changes the dynamics of property maintenance. These variables could be entered into the predictive maintenance software, which will factor them into the current plan. The AI may then temporarily alter the current maintenance plan to account for the changes in moisture levels and then dynamically alter the maintenance plan once the issue has been resolved.

Market Analysis Tools

Real estate owners in the commercial real estate sector also use software to monitor market dynamics and make data-driven, informed decisions. Because of the hyper-local nature of the commercial real estate industry, it’s vital to stay on top of trends in your area and keep up with what your market is doing. Monitoring trends via software and online applications has become more important in order to remain nimble in a changing market.

This can be even more helpful if you’re an investor in commercial real estate. Valuations change constantly, and population fluctuations and other factors can turn a once-thriving commercial real estate market into a ghost town and vice versa. Using analytics software to keep track of market trends can be an advantage for commercial real estate investors.

Commercial property managers also employ so-called “property intelligence” analytics to get a more in-depth look at properties. Property intelligence software is designed to aggregate all kinds of data points about a property or collection of properties to provide insights to owners and managers.

These insights save time over manual review but can also be incredibly useful when managing several different properties. The software aggregates data and can then offer recommendations for overcoming challenges, making improvements, and managing cash flow.

Virtual and Augmented Reality

Virtual reality (VR) and augmented reality (AR) technologies have been in consumers' hands for about a decade but have mostly been used for gaming and entertainment. Although efforts have been made to bring VR into the workplace, it’s been challenging to find use cases where these technologies can really make an impact.

However, VR and AR have become hot trends in commercial real estate. Commercial real estate brokers and agents are using VR to provide virtual tours of available office space, allowing potential buyers and tenants to see and experience available properties.

This commercial real estate trend really took root during the COVID-19 pandemic, as face-to-face meetings were deemed unsafe. Still, as more workers and investors have spread out across the country, the need to be able to offer virtual tours has become more important than ever.

Additionally, using augmented reality technologies in the office sector allows professionals to work in interactive environments where people can collaborate using virtual objects. Augmented reality involves special glasses that overlay interactive digital objects across the user’s view. The user can manipulate these objects, and in group settings, multiple people using AR glasses can work together to manipulate objects in the same room.

Enhanced Security

Security technology is another hot topic among commercial real estate trends. Security at commercial properties is vital since commercial properties can encompass businesses that deal with sensitive data and living areas for tenants renting apartments or condos.

To add to the challenge of ensuring security at a commercial property, employees, customers, vendors, delivery professionals, and others often enter and exit these spaces during the day. With all this traffic, protecting commercial properties with appropriate security measures makes sense.

Although key card and PIN code systems have been in place at many commercial properties for decades, the smartphone era is changing how commercial property managers secure entryways. Some commercial properties have used security systems that rely on facial recognition and communication with mobile devices to allow access to properties.

Modern security systems can either automatically activate when an approved device is within a certain distance of a door or when the user scans a QR code displayed on the device’s screen.

AI also appears here, and AI security systems are being used increasingly among commercial properties. These systems employ the aforementioned facial recognition, but they can also spot weapons under clothing items or note suspicious packages that have been left unattended for long periods of time. These security measures can be very useful when managing a large commercial property in busy business areas of crowded cities and downtown areas.

Tenant Portals

When managing a commercial property, you will likely deal with many tenants. Whether you manage apartments and condos or office buildings, communicating with tenants and offering a way for them to contact you and your management staff is important for several reasons. Solid communication can increase tenant satisfaction with their experience at your property, and issues can be resolved faster when you communicate efficiently.

Commercial property managers are increasingly relying on tenant portals to facilitate better communication. These are online spaces where tenants can log into an account and manage their experience with your property and staff using a computer or mobile device.

Tenant portals often feature the ability to pay rent online, report problems to management, receive notifications from your office, and chat with your team members or an AI chatbot in real time. Another benefit of tenant portals is that one portal can be set up for your company to use across multiple properties. Each tenant gains access to a personalized account. Still, you and your team can access the system's back end to communicate with and manage relationships with tenants across all of the properties you represent.

What Does the Future Hold?

When looking at the future of commercial real estate technology trends, Internet-connected tech will likely continue to play a large part in the everyday lives of property owners and managers. These technologies offer convenience and security but provide access to software-as-a-service (SaaS) applications via the web. SaaS technology allows commercial property managers to greatly expand their access to software that can be used to manage people and properties more effectively.

Additionally, hardware technology innovations and upgrades will likely play large roles in managing commercial properties. For example, commercial property managers use drone technology more often to inspect existing properties and scout locations for potential new construction or investment.

From a vantage point in the sky, drones can take high-definition pictures and videos that offer a unique perspective on potential development opportunities. Property managers can also use drone technology to inspect for maintenance and repair needs at properties that contain areas that are difficult to access on foot or land vehicles.

Contact SERVPRO® for Solutions to Commercial Property Maintenance Challenges

SERVPRO of Arcadia provides real estate professionals and commercial property managers with solutions to restoration challenges. We’re always on top of the latest technology. We're your partner when you need experts to provide restoration and cleanup services in and around commercial properties throughout Southern California.

Celebrating 18 Years of Excellence: Offering Free Estimates All June!

5/30/2024 (Permalink)

Residential or Commercial property damage estimates Helping restore the community with free estimates all month long!

We are thrilled to announce that SERVPRO of Arcadia is celebrating a significant milestone this year—18 years of ownership since June 1, 2006. Over the years, we've been dedicated to providing top-notch restoration services to our community, and this anniversary marks a moment of pride and gratitude for us.

To show our appreciation for the unwavering support we've received, we are excited to offer FREE estimates to everyone throughout the entire month of June! Whether you need restoration for water damage, fire damage, or any other property concern, our experienced team is here to help.

This special offer is our way of saying thank you to the residents and businesses of our community who have trusted us with their restoration needs over the years. We look forward to continuing to serve you with the same dedication and excellence that has defined SERVPRO of Arcadia since 2006.

Contact us today to schedule your free inspection and join us in celebrating 18 years of exceptional service!

Innovative Property Maintenance Staff Hiring Strategies

5/29/2024 (Permalink)

Maintenance Tools | Innovative Property Maintenance Staff Hiring Strategies Hiring Maintenance Staff

In the world of property management, having the most beautiful and desirable properties means nothing if you don’t have professional staff to maintain those properties. When it comes to maintaining your own personal property, you can let maintenance issues slide if you want, but commercial properties are different.

When someone is paying to rent or lease a piece of commercial real estate, your job as a property manager is to ensure your organization meets its contractual obligations. This usually means maintaining properties for safety, security, and function. Failure to maintain managed properties can result in accidents, injuries, lawsuits, and a host of other problems.

Finding the Right Team Members Can Be Difficult

Unfortunately, it can be difficult to find property maintenance workers. This may be due to a lack of skilled workers in your area or a lack of time to search nearby candidates thoroughly. Whatever the reason for your difficulty in finding property maintenance workers, the good news is that there are innovative strategies you can try that are more effective than simply placing an ad in the newspaper.

If you’re having a hard time getting the right maintenance service professionals onboard at your commercial properties, below are some strategies to consider:

Use Dedicated Job Boards

Online job boards can be effective when you need to hire someone to fill a general position, but the role of someone who works for a property management company is often demanding and specific. Maintenance professionals will need to have a keen eye for detail and have the ability to work alone. Additionally, these jobs typically require maintenance staff members to possess customer service skills since they often interact with tenants at commercial properties.

Consider looking for industry-specific job boards instead of posting job openings on a general job board. General job boards attract applicants across various industries, so they may not target professionals with the skills your role demands. A job board dedicated to commercial property maintenance professionals or professionals in a complementary field may yield better and faster results than a general job board. Also, the caliber of applicants calling your office may be higher when you post to job boards dedicated to property management and maintenance.

Check Out Social Media and User-Generated Content Sites

Remember that job boards also exist outside of dedicated hiring and career sites. Some social media platforms host job boards, and you might also find job boards on user-generated content sites like Reddit. These options, in particular, can help you to drill down on the specific audiences you want to target. This approach may yield more effective results since you can advertise available maintenance positions to people in communities that are already interested in commercial property maintenance issues.

Consider Part-Time Positions

Maintenance work keeps tenants happy at rental properties, but there are usually only so many full-time positions within your budget. If your full-time maintenance staff cannot handle everything in a day, you may need to consider hiring a maintenance technician on a part-time basis to fill in the gaps.

This can be advantageous in cases where you have one-off repairs that need to be completed but not enough work to keep a full-time employee busy. For example, if your property has suffered damage from a fire, restoration will be needed, but this will usually only require temporary help.

Fire damage restoration may be a job best left to a contractor or third-party company specializing in disaster recovery and cleanup. Still, your part-time workers can be directed to help as well. This keeps you from hiring a full-time maintenance worker who may need to be laid off after completing the project.

Why Hiring a Contractor May Make More Sense

Working with a contractor can also benefit when your staff lacks the adequate equipment or training to handle one-off situations. Investing in novel equipment or specialized training may not be worth it unless you deal with a maintenance issue regularly. Instead, bringing in a contractor for temporary work may make more financial sense and keep you from hiring mistakes.

Audit Your Existing Workforce Before Hiring

In some cases, it’s better to conduct an audit of your existing staff before beginning your search for property maintenance workers. It can be easy to think that hiring is the right move when you’re feeling overwhelmed with work orders, but an audit may reveal that all you need to do is manage your existing staff more efficiently.

For instance, if you have three general maintenance professionals on-site during the day but only one at night, the worker on the night shift may fall behind when work gets heavy. By conducting an audit to examine what workloads look like at various times of the day in different areas of a commercial property, you might find some room to move people around.

Shifting Staff May Buy You Some Time

If less work is required during the day and two workers will be sufficient, consider moving one of your daytime workers to the night shift. This balances out your labor and can buy you time to find property maintenance workers. You may discover you don’t need to hire anyone because your new scheduling and management system has smoothed out any kinks in your commercial property maintenance plan.

SERVPRO of Arcadia Helps Property Managers in Times of Need

If you’ve found it difficult to find the right team members to help with cleanup after a fire or other disaster, SERVPRO® restoration is the answer. Our Arcadia restoration specialists serve as an extension of your team to put the pieces back together. Contact us today to discuss how we can help at your managed property.

Eco-Friendly Practices for Property Managers

5/17/2024 (Permalink)

Eco-Friendly Home | Eco-Friendly Practices for Property Managers Eco-Friendly House Concept

Understanding precisely what it means to be eco-friendly is vital for property managers looking to enhance sustainable practices. Taking steps to reduce a property’s carbon footprint and make it more sustainable is a multifaceted task that may come with some challenges but has several payoffs. Property managers, owners, and stakeholders can enjoy increased well-being and other enhancements, along with the knowledge that their actions positively impact the environment.

What Does Eco-Friendly Mean, and Why Do Property Managers Care?

The term eco-friendly describes practices that are not harmful to the environment and proactive activities or measures that protect it. These practices provide an important way for property managers to highlight their commitment to sustainable practices and reduce their environmental footprint. Sustainability practices also provide important cost savings over the long term by reducing maintenance and utilities expenses.

Sustainability in property management industry settings involves a variety of strategies and techniques that aim to achieve eco-friendly outcomes for all stakeholders. Implementing these measures can increase property values, and sustainable housing often attracts higher market rents. The measures improve satisfaction for tenants and homeowners because eco-friendly practices can create benefits like healthier living environments and lower utility bills. Staff members also enjoy improved well-being and working in a healthier environment.

Eco-Friendly Practices and Strategies for Property Managers

Install Energy-Efficient Lighting

Implementing energy-efficient LED bulbs and other lighting solutions in common areas and elsewhere around the property can reward property managers with significantly reduced electricity consumption and lower energy bills. For example, switching out standard, incandescent bulbs for LED lighting can reduce energy use by up to 75%.

Consider installing motion-sensor lighting in the property’s common areas to ensure that lights only come on when used to take advantage of further energy bill reductions. For new construction, consider using natural light by installing skylights and large windows to reduce the need for artificial lighting during daylight hours.

Integrate Sustainable Landscaping

Eco-friendly landscaping can reduce maintenance requirements, enhance biodiversity, and conserve water. Sustainability in property management industry settings includes strategies such as working native plans into landscaping to embrace their natural beauty while reducing water and maintenance needs. For example, the native plant Phyla nodiflora is a ground cover used in some settings as an alternative to grass.

The plant spreads quickly, can withstand mowing and foot traffic, and, within two years, can become well-established so that it no longer requires watering. Different watering options for planted areas, such as drip irrigation systems, present another effective way to reduce labor and maintenance, keep plants watered as needed, and reduce water use and runoff from traditional sprinkler systems. Drip irrigation also targets the water more precisely to plant roots, which minimizes wastage.

Water Conservation

Preserve the precious water resource by implementing techniques to conserve and preserve it. Low-flow faucets and shower heads have improved, offering significant water pressure while using less water. Low-flow toilets can save gallons of water per flush. The combined efforts of these devices reduce water consumption by up to 30%, returning significant savings over time.

Additionally, conserving water by capturing it through cisterns, rain barrels, and similar devices can reduce the reliance on municipal water by providing an alternative source for irrigation and other water-related needs on the property. As a good maintenance practice, regularly inspect and maintain plumbing systems to promptly detect and repair leaks or other damage.

Recycling and Waste-Reduction Programs

Implementing programs to reduce waste and promote recycling diverts tons of waste away from landfills and encourages resource conservation. For example, communities can implement a composting program to handle organic waste. This approach provides the double benefit of producing nutrient-rich composted soil for improved landscaping and reducing the waste going to landfills.

Creating a recycling center with designated bins marked for each type of recyclable also encourages tenants and residents to contribute to recycling efficiency by sorting items properly. Consider also hosting a program that encourages residents to donate their usable items to local charities or set up community “free swap” events to give new life to used goods and reduce waste further.

Build with Eco-Friendly Materials

With eco-friendly building materials, property managers and communities contribute to reducing construction's environmental impacts and improving indoor air quality. For instance, choose interior and exterior paint with low volatile organic compound (VOC) emissions.

Formaldehyde-free insulation is another building material that can preserve the quality of interior air and increase occupants’ health. When undertaking new construction projects, choose sustainably sourced lumber or recycled materials to minimize the carbon footprint and reduce the demand for virgin construction materials.

Go Green When You Clean

Adopt green cleaning products for interior and exterior surfaces to promote healthier air quality and minimize exposure to harmful chemicals. Choose environmentally friendly cleaning products from non-toxic and biodegradable ingredients to keep pollutants from contaminating the air, groundwater, and local water bodies. Use sustainable cleaning products such as microfiber cloths and washable mop heads to make cleaning more green.

These products have longer lives and reduce dependence on disposable cleaning supplies. For even more improvement, set cleaning schedules to occur during off-peak hours, which can minimize the energy used in cleaning activities.

Healtheir Indoor Air

The cleanliness of indoor air contributes to the health and well-being of tenants, residents, and staff. Install high-efficiency air filters into HVAC systems to remove the maximum allergens and pollutants and improve air quality. Additionally, the ventilation in closed spaces should be increased, and HVAC systems should be regularly maintained with filter changes and equipment checks. Properly maintained equipment ensures effective air filtration and circulation while reducing the buildup of indoor pollutants such as dust, mold, and VOCs.

Suppose a property manager or resident discovers mold. In that case, it is essential to use a mold damage company committed to sustainable practices such as minimizing waste and using sustainable cleaning products.

Use Renewable Energy

Integrating renewable energy sources such as solar panels or wind turbines can produce power with less reliance on fossil fuels and produce fewer greenhouse gas emissions. Installing panels in common areas or rooftops can provide clean power for common amenities and buildings. In suitable locations, wind turbines can harness wind energy to supplement existing electricity needs, further reducing the property’s carbon footprint.

Provide Alternative Transportation and Bike Infrastructure

Promote transportation alternatives such as bicycling and electric vehicle (EV) adoption by adding relevant amenities and infrastructure to encourage sustainable commuting, which helps residents reduce carbon emissions. Establish secure bike storage facilities and riding lanes to encourage residents to use bicycling more often and reduce dependence on cars.

Additionally, consider offering a bike-sharing program and installing EV charging stations to help reduce traffic congestion and support eco-friendly transportation options. Consider also partnering with local public transit authorities to provide subsidized or discounted transit passes to reduce car dependency further.

Use Sustainable Purchasing Methods

Sustainable purchasing is a strategy that promotes environmentally friendly buying practices to support ethical suppliers and products developed sustainably. Purchase products that have third-party certifications, such as Forest Stewardship Council (FSC), Green Seal, or ENERGY STAR, as these certifications ensure the products meet rigorous standards for social and environmental responsibility standards.

Additionally, choose products made from recycled materials or minimal packaging to reduce waste and support a circular, recycling economy. As part of sustainability in property management industry circles, consider cooperative or bulk purchasing with other property managers to negotiate better prices on sustainable products.

Educate and Engage the Community

Engaging residents and tenants in sustainability initiatives can create a sense of community and environmental responsibility. Encourage participation in eco-friendly practices and provide workshops or events to educate on recycling, energy conservation, and ways to live sustainably. This strategy can empower community members to make informed choices and understand how they can contribute to reducing their carbon footprint.

Consider creating teams or committees focused on green or sustainability matters, which allows residents to work together on various initiatives and discuss best practices to reduce the community’s environmental impact. Use the community newsletter to share successes, useful tips, and upcoming events in the community.

Track and Report Metrics for Sustainability

Regular monitoring and reporting of sustainability metrics can show property management and residents how their efforts are paying off and how progress is made. This valuable feedback will help solidify a commitment to sustainability goals and identify areas for further improvement. Look for energy management and water monitoring systems that provide real-time feedback on resource consumption. The resulting data will aid in optimizing efficiency measures and increase informed decision-making.

Additionally, publishing reports that present a dashboard or concise metrics can communicate performance over time to stakeholders, allowing for the celebration of improvements, increased accountability, and motivation of ongoing progress. Run periodic surveys or set up a suggestion box to gather residents’ input on current and proposed sustainability efforts and identify areas for added improvement.

Eco-Friendly Ways Pay Multiple Benefits

Building eco-friendly practices into managing a property is not just about being a good environmental steward; it’s a strategic move with several benefits. By implementing sustainable practices such as water conservation techniques, green cleaning techniques, energy-efficient appliances, and lighting, property managers can reduce costs, enhance property values, and make the community a healthier living and working environment for residents and staff, Embracing sustainability and eco-friendly strategies is a responsible choice that pays off with long-term rewards for the property and environment.

Property managers who understand eco-friendly strategies can appreciate the importance of choosing the right service provider for residential restoration services. At SERVPRO of Arcadia, we take sustainability seriously. Contact us today to learn more about our expertise and eco-friendly services.

Finding and Keeping Quality Commercial Tenants

5/13/2024 (Permalink)

Real estate agent renting out an office | Finding and Keeping Quality Commercial Tenants How to Find Commercial Tenants

Your ability to find quality commercial tenants can greatly impact your success as a commercial property owner. The truth is that commercial landlords and business owners who need office or retail spaces have symbiotic relationships. When everything goes smoothly, your tenants pay rent on time and follow all lease rules while enjoying the square footage they need to run their businesses successfully. However, bringing in the wrong tenants can lead to constant turmoil. What's the secret to finding great tenants for your commercial building? This list outlines the keys to attracting high-quality tenants without letting potential tenant selection take over your life!

  1. Create Compelling Online Listings

One of the best ways to ensure that you can find quality tenants is to attract a large selection of tenants. This is done through a compelling, informative listing. Make sure your listing is shared on popular commercial property websites that allow potential tenants to filter searches by location, square footage, price by square footage, and other important details. Examples of these websites include Property Shark and Loopnet. Details to place in your listing include:

  1. Accurate information about square footage.
  2. Crisp, clear photographs of the full property.
  3. Suggestions for businesses that would fit into your commercial space perfectly.
  4. Details about neighboring or adjacent businesses.
  5. Any special features.
  1. Ask for Referrals From Existing Tenants

If you have current commercial tenants, consider mining for referrals. It's common for business owners to be connected with other business owners. Contact your tenants to ask if they know anyone currently looking for a commercial or retail space. Consider offering a referral discount. If you're a first-time commercial property owner, attending local networking events can be a way to gather leads and referrals.

  1. Invest in Luxury Signage

A single sign can go a long way in attracting high-quality commercial tenants. If your property is visible from the street, have a large custom sign showcasing the address, building name, and contact information for leasing. Who will want to move their business into space more than someone who drives that route daily?

  1. Invest in Landscaping

When renting out a commercial space, how you present your property to the world is how your tenants present their businesses to the world. The best way to attract tenants is to provide them with a high-quality space they proudly call their operational headquarters. An easy way to make a property impressive is through professional landscaping that creates an elegant, elite aesthetic. If this is a newly acquired property, consider bringing in landscapers to help you plan a green scheme that can keep your property looking lush and manicured throughout the seasons.

  1. Address Any Red Flags on Your Commercial Property

It's so important to remember that tenants for your commercial property are also screening you and your building during the leasing process. If you want to attract reliable tenants for the long term, providing a safe, attractive setting is critical. Here's a look at the red flags to fix before they cause quality tenants to go elsewhere:

  1. Crumbling or broken pavement in parking lots or walkways is unsightly and poses trip-and-fall hazards for tenants, their employees, and their clients.
  2. There may be visible mold or water damage inside the property. Before showing it, bring a mold damage company to remediate the issue.
  3. Windows and doors that are not secure.
  4. Outdated flooring, paint, wallpapers, and fixtures.
  5. Clear code violations.
  6. Junk, clutter, or items that previous tenants left behind.
  1. Modernize Your Internet

While this may seem simple, equipping your building with high-speed Internet and Wi-Fi can be a great way to attract serious businesses to your property. Make this a selling point that is featured in all listings!

  1. Offer Leases Options That Grow With a Business

The truth is that it can take time to predict the needs of a business. By offering flexible lease terms that can grow with a tenant's needs, you may be able to build a lasting relationship with a high-quality tenant on the rise! Unlike residential leases that are generally 12 months long, commercial leases can last anywhere from six months to five years. Some tenants may appreciate shorter leases that allow them to launch a new location. More established businesses may prefer the cost savings of locking in a long-term rental for a discount. You may attract a wide range of tenants by advertising that you're open to flexible leases.

  1. Prioritize Tenant Retention

One way to ensure that you always have reliable tenants is to do everything possible to keep them paying their rent on time every month. Consider launching a retention initiative to please current tenants while showcasing your commitment to providing a quality space to future tenants. Some ideas include:

  1. Conduct an annual survey of tenant satisfaction. If there are any noticeable trends in dissatisfaction, address complaints.
  2. Offer competitive rates or rate lock-in offers for lease renewals.
  3. Host "tenant appreciation" events, including catered lunches, food trucks, gift cards, and other fun perks.
  4. Keep the property beautifully maintained.
  1. Hire a Commercial Real Estate Broker

If you're overwhelmed by filling your commercial vacancies, you can hire a commercial real estate broker to help you find quality commercial tenants. Commercial real estate brokers are experts in showcasing properties, managing listings, interviewing potential tenants, conducting background checks, and getting lease agreements signed. By freeing up your mental and physical energy, you'll have more time to work on keeping your commercial property maintained instead of shuffling through lease applications.

It All Starts With a Quality Property

Ultimately, you won't find quality commercial tenants if tenants don't find quality when they tour your property. How confident are you that your commercial investment property is safe and attractive enough to begin welcoming new tenants? Remember that damage from flooding, storms, aging, and wear and tear can cause aesthetic, safety, health, and legal issues for a commercial landlord if issues are ignored. Don't wait for tenants to be angry! Get your property ready with residential restoration services in Arcadia, California.