The Advantages Of Hiring A Local Property Manager

October 5, 2022

Whether looking to add members to your team or hiring a professional third-party commercial property management team to manage your property, there are clear advantages to hiring local.

professional-apartment-property-managementA local property manager knows the local politics and customs, the “lay of the land” so to speak. They have an established network and know how to get things done. Working through zoning changes and council meetings, understanding local ordinances and what permits are needed, who to recommend for repairs and construction, local suppliers, and vendors, are all in a day’s work for a professional management team, and can save valuable time and money. Being able to provide a realistic timeline and help set expectations based upon work they have done on similar projects in the area is fundamental. Their experience in the market is essential to a property’s success and in turn the investor’s success. Caton Commercial has delivered exceptional third-party commercial real estate services in the South, Southwest and West Suburbs for more than 40 years, having the opportunity to have worked on, and be steeped in knowledge of, all asset classes and sizes of transactions.

Knowing the community is also vital to preparing a property’s leasing strategy – where leasing is the lifeblood of most commercial properties. Having that first-hand knowledge of which retailers have the greatest opportunity to flourish by knowing historically what has been tried and thrived versus what has failed. Just because a concept has worked in one market does not mean that it will work in the community you are investing in, or vice versa. A professional also knows how to maintain solid tenant relationships, to ensure longevity of the income stream for the investor.

The local management team is established in the community, and people know their character, so it is easier to vet who you are hiring. Local reviews will give you confidence that the person you are working with provides quality work, and they will do what it takes to service your asset and maintain their excellent reputation. They are invested in the success of your business – your success is their success; relying on word-of-mouth referrals and repeat business is always key to achieving their own growth. This is their community, and the local professional has a higher level of accountability because it is not just a job, it is their home, too. “Caton Property Management manages each property from an owner’s perspective, keeping their best interest and investment goals in mind. While also considering how those choices impact the health of not only the property, but the community. It is a symbiotic relationship, healthy real estate supports the community, healthy communities support real estate, and these are communities that our team’s families live and work in.” says Amy Hall, Caton Chief Operating Officer.

When adding local third-party team members, or your own internal staff, staying local contributes to the financial well-being of the community you are investing in and strengthens the local economy. This is important at any time, but especially in tougher job markets or recessionary times. During the great depression, when Milton Hershey’s factory manager proudly told him how much labor he saved with a new machine that could do the work of several, Hershey told his manager to get rid of that machine and hire more workers. He preferred to contribute to the financial well-being of his community at a time when people were struggling.

The advantages of “we are all in this together” is never truer than when you make decisions to help keep the community strong by hiring local.

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