Aaron Hopkins of Robert Irving Burns in London has kindly offered to write a guest blog post to give some guidance on the benefits of outsourcing commercial property estate management.
If you’d like further information, don’t hesitate to contact him at Robert Irving Burns.
Outsourcing commercial property estate management offers the opportunity to spend more time focussing on other priorities and business activities at the core of your business. Having professionals use their resources enables you to offer clients more value and frees up the time you spend in-house. Outsourcing estate management work is extremely cost effective which in an uncertain financial climate, makes sense. It reduces costs, improves operational efficiency as well has offering a business the chance to harness external resources and skills whilst all the while minimising the risk.
The day to day running of an operational estate can be a time consuming business fraught with distractions. Dealing with landlords and tenants and managing rents, service charge payments can be not only stressful, but it takes you away from other valuable work which could enable you to stay one step ahead in a competitive world. Outsourcing the work also means leases and contracts are managed and when due for renewal, can be renegotiated in your favour as well as the tenants by an expert who has their finger on the pulse.
Making Sure Your Portfolio is Visible
You may not have the resources that gets your complete portfolio out there and noticed. Visibility is yet another service an outsourcing company would be able to provide. They are the experts and have the necessary web portals at their fingertips, ensuring high visibility for all your properties. A reputable outsourcing company would offer state of the art technology solutions that offer 24/7 access to all portfolio data which you see in real time.
Surplus properties, professionally Managed
An established and reputable outsourcing company would be able to expertly manage any non-operational properties you may have in a portfolio, pro-actively marketing any that are vacant in order to mitigate any liabilities and financial burdens you may have had to deal with in the past. All this would naturally be carried out in a tax efficient way so that at the end of the day, you have successfully reduced the liabilities these properties pose on your balance sheet.
Seamless Transition When Outsourcing
You may be forgiven for thinking the transition period when outsourcing your commercial property maintenance might be cause for a real headache. However, these days the transition is a seamless process that doesn’t cause any disruption whatsoever, and this includes in HR, IT as well as legal and financial regulatory needs involved. Day to day running of your business activities would not be impacted during the transition.
Selecting & Implementing an Outsource Model
An outsource company would work closely with you in order to satisfy your business needs, to identify solutions and support services with a view to implement an effective outsource model. This can be done through informal or more formal meetings necessary for the outsource company to get to know how your business operates on a day to day basis. Once the outsource model is agreed, the process of setting it in place would be a seamless process as mentioned above.
A Comprehensive Service is Invaluable
The outsource company would be able to take care, not only of the day to day property management for you, but they should also offer a full range of services right through to mitigating any liabilities on legacy properties. All the while their performance would be closely measured to ensure complete customer satisfaction as well as absolute transparency and visibility, thus offering you peace of mind and freeing up your time to focus on other aspects of your business.
Employing the services of the experts certainly makes sense, it frees up your time all the while offering you the peace of mind that your commercial property estate management is being handled by true professionals, using the most up-to-date technology and resources available. It is a cost effective way of managing a portfolio in a volatile financial climate whilst at the same time minimising any risks.