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5 Reasons Why it May be time to Remodel Your Commercial Bathroom

March 15, 2022
5 Reasons Why it May be time to Remodel Your Commercial Bathroom

Key Services to Look for in Quality Commercial Property Management

Working with an accomplished team of professional commercial property managers can significantly impact your vacant periods, profitability and overall peace of mind. But it is important to choose the right company and ensure they have the sufficient skills and resources to represent your investment.

Let our experts explain how a property management service can add value to your rental portfolio and what to look for before you commit.

The Benefits of Commercial Property Management Services

Having your property managed by a competent firm authenticates a rental business, whether you have one property or a broad portfolio, making it more appealing to quality tenants.

Some of the main advantages include:

  • Shorter and fewer void periods – finding new tenants can be difficult. A property management team will deal with references, viewings and deposits, and market the property to the ideal demographics.
  • Longer-term tenancies – commercial property managers don’t take on the first potential tenant but work to match the right person to the right space for their business. Getting that mix correct means tenants who stay for longer and are satisfied with the quality of the service offered.
  • Year-round management – a management firm will take over arranging maintenance work, calling out emergency tradespeople over holiday periods and protecting deposits according to government approval schemes.
  • Professional valuations – marketing a commercial property includes an analysis of the rental value, recommending an optimal time to increase the rates, and actively marketing the property to command the right income level.
  • Access to respected contractors – local property management firms work with networks of trusted tradespeople and can often negotiate a competitive price and monitor safety obligations to verify that any required work is to specification.

With these practical benefits, owners have less exposure to legal liability, late payments, tenancy disputes or any other issues in line with professional standards and commercial rental sector law. As landlord regulatory requirements become more complex, the time required to control each aspect of the property continues to grow.

What to Look for in a Commercial Property Management Company

Understanding the potential returns on a property management service is one thing; identifying the ideal team to work with is another! Here are the requirements we suggest you prioritize, or at least ask about during the initial consultation.

Commercial Property Management Track Record

Local professionals with in-depth knowledge of the area and market are far superior to online-only services. If your commercial property manager has an outstanding reputation and a file of long-term landlord clients, you will usually be able to ask for references and hear first-hand from fellow property owners.

Consistent Low Vacancy Rates

Property owners need to know that if they are paying for a management service, their returns will pay dividends on that investment. Low void periods indicate a successful marketing approach, an underlying understanding of the best ways to promote a vacant property to the right tenants, and the ability to swiftly close an agreement to the satisfaction of all parties.

Some larger agents publish data about the volume of properties they manage, but it’s more meaningful to ask about vacancy metrics than the numbers of buildings.

Management Fees

A credible commercial property management team will always be upfront about fee structures – because they know that a well-managed property will produce higher rental yields and/or profits. Be conscious of ‘additional services’ and confirm that everything you need has been included in the price so you aren’t hit with unexpected supplementary charges.

Services Offered

Comprehensive property management covers a wide range of services, such as:

  • Valuations and setting rental values
  • Tenant screening and selection
  • Moving in and out processes
  • Collecting rent and deposits
  • Managing inspections and compliance issues
  • Maintenance and repairs
  • Legal issues and disputes

The ideal is to have a range of services so you can pick and choose the level of involvement you wish your property manager to have – and which tasks you’d like to retain control of yourself.

Comparing the Costs of Self-Managed and Professional Commercial Property Management

Many landlords don’t delegate their commercial property management to an experienced agent because they are concerned about denting the value of their income. Self-management is possible, but it’s important to be mindful of the volume of tasks, time requirements, and pressure involved. If you are dedicated to running a commercial rental property business as a sole focus, it may be convenient to save money on management, provided you have the capacity.

For example, self-management includes:

  • Being on call 24/7 to deal with emergency maintenance requests.
  • Chasing late payments or negotiating on rental arrears.
  • Arranging periodic inspections.
  • Staying updated with changing legislation around rental laws, physical building standards and taxation regulations.

Landlords with multiple properties, those with separate career commitments, or commercial property owners who want to spend more time enjoying their returns will benefit from a commercial property management service. They don’t need any active involvement with the rental business unless they wish to and find that maintenance costs and non-compliance risks are considerably lower than through self-management.

Full Commercial Property Management

Having a commercial property management company draft your tenancy agreements, manage potential issues and remain up to speed with regulations is a substantial advantage to busy landlords and ensures you receive a better rental income with more sustainable returns.

For more information about commercial property management in the Edmonton area, please get in touch or drop in and visit us at your convenience.

 

 

There is only one way to keep a commercial property looking its best, and that is through remodelling. It can be a daunting experience, but if you or your client is looking for a good place to start, the bathrooms are a great place. Nothing will date a property like a rundown bathroom, and by opting for a remodel you can give the entire property a much-needed facelift. With the way the world changed in 2020, there has never been a better time to review your setup. The question is, how do you know whether a commercial bathroom remodel is right for you or not?

 

Environmental

There have been massive advancements in bathroom fixtures regarding water and energy efficiency. Today, sink aerators, touchless valves, and low-flow toilets are the default. That might not have been the case when the commercial bathroom was first installed. A remodel is an opportunity to upgrade.

There are options for energy-efficient lighting, motion sensors, waterless urinals, and tap flow restrictors. It’s a money saver, but it is also a great way to make a positive contribution to the environment. While you are upgrading the bathroom technology, consider automatic dispensers and automatic hand dryers. They’re environmentally friendly and improve sanitisation for the tenants. It’s a win-win.

 

Money-saving

Everything in the environmental section could easily fall under the money-saving umbrella. Your utmost concern could be the bottom line – whether you are the agent managing the commercial property, or the owner.

A commercial bathroom remodel can help save money in the long term. Yes, the up-front costs might be intimidating, but they will repay in kind. The newest bathroom technology was designed to reduce water and energy usage. You can save money on disposable items, as well as water and electricity. There’s another cost-saving to consider. With new fixtures, there will be fewer maintenance issues. Thus, a reduction in those costs and customer dissatisfaction.

You also have to consider the financial impact of going green. This is something that both employees and customers value in the businesses they work with. Sustainability is hotter than ever in the commercial building industry. We are seeing an increasing number of commercial building owners perform sustainable remodels to help them save money and protect the environment. We are also seeing a direct link between green commercial buildings and their ability to attract tenants and command higher rents and sale prices.

More than ever, consumers choose to work with people who care about the planet.

 

Sanitization.
commercial bathroom cleaning

Touchless air dryers, taps, and paper towel dispensers aren’t just money-savers. They are also an excellent way to prevent the spread of germs. Of course, this is something that is at the front of everyone’s mind now after the year we have had. The more surfaces that require touch the easier germs will spread which will impact your absence rate. Once one employee falls ill, others are sure to follow, and you are going to lose money. So, the benefits of ensuring sanitary conditions in commercial bathrooms are multi-faceted.

 

Improved Morale

Believe it or not, a clean bathroom can boost employee morale. It is their only private escape throughout the day and providing a comfortable, clean place for them is good news for their productivity and your bottom line.

 

Appearance & Reputation

Old bathrooms often look much worse than they are. They age rapidly. Even when they are sparkling clean they look dingy. It’s embarrassing for employees and disappointing for customers. There are certain issues you can maintain, such as fixing those stall doors that no longer close properly.

You can repair the flusher on the toilet in the third stall. Likewise, you can manage small maintenance issues. That just puts off the bigger problem. If there are pitted countertops, cracked tiles, dim lighting, stains, smells, and poor plumbing then it is time to remodel. It is the only way to give your customers, clients, and employees the space they need. No matter how old the building, a bathroom remodel will transform the space.

In a recent survey, 94% of respondents said they would avoid a business if their bathrooms were dirty. Employees, clients, and customers take notice when facilities are outdated. The bathroom is a great insight into how a business runs, and it can impact someone’s view of your company. Invest in a commercial bathroom remodel so everyone who walks through your front door knows that you have high standards and value their comfort.

If you make green improvements in your bathroom remodel, you will show your clients that you value the environment enough to invest money in the planet’s future. That matters.

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