One of the reasons I choose to only focus on property management related real estate services in Placer County and Nevada County California (even though I am a Broker and can facilitate real estate listings and sales as well) is because of the ever-changing State and Federal laws related to commercial property management. It is a full time job keeping abreast of the pending and new laws that are continually affecting our local markets. And, without knowledge of current law, a property manager’s job is useless. As a member of IREM (Institute of Real Estate Managment) I have access to tools which keep me informed and updated the second a new bill is introduced. The July/August 2017 Edition of IREM’s Journal of Property Management published a great article informing people of what Senate Bills IREM is currently supporting and how to know what bills are being introduced in your state. Read the article below for more details and then go to www.IREM.org/public-policy to sign up to get email notifications of pending and passed bills that may affect your commercial real estate investment. ~Amelia
Commercial Property Management Info
Have you self managed your Placer County and/or Nevada County CA commercial investment property and are considering hiring a professional property manager? There can be great benefits in separating yourself from your Auburn, Nevada City, or Grass Valley CA commercial investment property. Here are some of the commercial property management services we provide at Barrett Property Management, Inc. and reasons to consider hiring a professional for these services:
- The “emotional” relationship between Landlord and Tenant is dissolved when a commercial investement property is professionally managed versus self-managed.
- Rents are paid on-time, every month. We are often hired by Placer County and Nevada County commercial investment property owners because they continuously receive late rent payments from their commercial tenants. When you hire a professional commercial property manager the Tenant realizes that this is a business deal and rent is due in a timely fashion. Late rent payments disappear.
- Your commercial property common area expenses (CAE’s) are property accounted for on a yearly basis and charged to each tenant accordingly.
- Your monthly expenses are paid by us on your behalf.
- Rent is adjusted according to the annual CPI index at proper intervals.
- The lease agreements are upheld properly. Often times, we coach Auburn, Grass Valley, and Nevada City investment property owners on going by the lease terms. For example, if a tenant is to maintain the HVAC system per the lease agreement and you are constantly enduring this expense and scheduling, it’s a good sign the lease agreement is not being upheld property. A professional property manager will ensure all terms of the lease are abided by during the lease length.
- Your property will be better cared for because we will suggest improvements to increase the life expectancy of your buildings and improvements. Along with this, we can set a budget to reach by withholding monthly reserves for you.
- You have more FREE time to do what you enjoy! As a professional property manager, Barrett Property Management, Inc. will handle all tenant inquiries, requests, and concerns. We will stay in constant communication with you, but we will also be the main communicator between all parties, relieving you of many hours of work.
Call or email Barrett Property Management, Inc. today to find out how your Placer County and/or Nevada County CA commercial investment property can become more successful and work for you!
Are you considering or currently in the process of moving your Placer County Commercial Office?
Moving in general can be a tedious process, but if you move and do not have a plan of action then the process can be down right terrifying. Here are 4 mistakes to avoid when moving your commercial Placer County office.
Vulnerability in Property Management? A look at how practicing this trait is critical in commercial property management.
As we become more in-tune with ourselves, practicing quite time, forgiveness, compassion, and love, we expand our perception. Our perception of the world, our community, and of our surroundings. When we forget to stay in-tune with ourselves, our perception can become off-balance and we think things should be different than they actually are. And when this happens, we tend to create judgments, resentments, frustration, and anxiety. We forget about compassion, forgiveness and love. And, in turn, the connection that we so deeply desire with other human beings, becomes disconnected. So why do we sink into this disconnect when we so deeply desire it? Because of shame, fear, and blocking the ability to be vulnerable.
I discovered Brené Brown’s Ted Talk, The Power of Vulnerability (watch YouTube video below), about a year ago. It resonated with me and stuck with me. When I read JPM’s Jan/Feb 2017 article Are Leadership and Vulnerability at Odds, to my surprise they reference Brown’s Ted Talk on Vulnerability. This excited me! Excited me because that “ah-ha moment” light bulb turned on and I felt that I had come full circle: All this “work” we do on ourselves applies to ALL aspects of our lives. Our personal lives and our professional lives. How neat is it that who we are and what we do is so intertwined?
Commercial Property Managment involves many leadership traits, one of the most important being vulnerability. “Vulnerability is not sharing every emotion, concern and doubt with everyone you meet; it’s not being emotionally fragile. It is being open to ideas other than your own, accepting uncertain states and recognizing your own limitations.” The article goes on to point out some positive vulnerability traits that local Auburn CA commercial property managers can incorporate into their daily practice:
- “Ask for and accept advice and help.” I’ve always been the type of person to ask for help when I do not have the answer. This trait is critically important while working in the Northern California real estate and property management industry. Laws in commercial property management are always changing and facts morph as properties develop, so knowing the correct answer all the time is impossible. It is critical to look to our colleagues, peers, industry professionals and co-workers for answers sometimes. We become successful we we view other people not a competition, but as a tool in succeeding together.
- “Accept mistakes from others.” aka compassion and forgiveness. Without forgiveness we become stuck. And when we are suck we cannot proceed to success. With a mentality that “we are all doing the best we know how”, we are more likely to understand the importance of compassion and forgiveness, and in turn, we free ourselves from being stuck. Success follows quickly thereafter. Become successful in Placer County Property Management by listening to this great advice!
I hope you enjoy this article and Ted Talk as much as I do!
JPM’s Jan/Feb 2017 article: Are Leadership and Vulnerability at Odds?
Watch The power of vulnerability by Brené Brown here:
Auburn, CA commercial property managers are required to make choices every day that effect their personal reputation, the reputation of the organization they work for, and the well being of the investment property owners they represent. In order to make conscious, proper decisions, we must always be acting in good faith and with the upmost ethics in mind. The article below, written by Carl York and published in the Jan/Feb 2017 issue of JPM, precisely touches on this prominent commitment, “I would say that our judgements and values are on display every day and are the foundation of our reputation.” I don’t think Mr. York could have said this more clearly for us to understand the importance of the actions of a property manager. These daily actions are even more heavily weighed upon when living in a small community like Grass Valley, Nevada City, Colfax or Auburn, California. People talk, and if you are performing at your best, making good choice daily, acting with compassion, and putting your client’s best interest first, then your reputation will shine and success will follow.
We are grateful here at Barrett Property Management, Inc. commercial to understand these core values and to be able to organically apply them to our daily practices. As this article suggests, we implement a written contract in which good policy and ethics are the foundation to the business arrangement. And, Barrett Property Management, Inc. commercial is also a member of IREM (Institute of Real Estate Management).
We are happy to discuss your commercial property management needs regarding your Auburn CA commercial, industrial, strip center, office and/or retail property. Mr. York goes on to say that “…success between two parties requires trust by each and cannot be achieved by just words.” We agree! That’s why we take the time to get to know all of our clients. Some of our clients have met with us consistently for weeks to a year before hiring us, and we are fine with that. We are happy to gain you trust over time, because in the end it builds a stronger relationship for the long haul. Call us today so we can begin a successful working relationship.
Check our JPM’s Jan/Feb 2017 Fast Facts. These are alway fun and interesting to read, and you learn something too!
Facts that apply to Placer County CA property management from this issue:
- “Tennis balls tossed into the pool and allowed to float around will soak up the excess grime.”
- “Seeing a refrigerator pulled one inch away from the wall hint it can reduce the energy usage of the refrigerator by as much as 40 percent.”
- “A 2,500 square foot law produces enough oxygen for a family of four.”
Barrett Property Management, Inc. is a member of the Institute of Real Estate Management (IREM), Sacramento Valley Chapter. As a company, we believe that the fundamental principles to maintaining success involve constant professional education development and collaborating with industry professionals regularly. IREM is the number one source in the Northern California real estate management industry that allows us to reach these goals. The Placer County, CA market is constantly changing, and in order to keep up with new laws, best practices, professional ethics, and superior management services, we believe that engaging in an organization like IREM is critical. Being a member of IREM is one piece of the puzzle that allows us to feel confident in presenting ourselves to the Auburn, Colfax, Grass Valley and Nevada City communities as qualified professionals that can handle your commercial real estate investment. Call or email us today to find out how we can help you be successful in the Placer County and Nevada County property management markets.
From the IREM.org website:
The Institute of Real Estate Management (IREM) is an international community of real estate managers dedicated to ethical business practices, maximizing the value of investment real estate, and promoting superior management through education and information sharing.
An affiliate of the National Association of REALTORS, IREM is the home for all industry professionals connected to real estate management – and the only organization serving both the multi-family and commercial sectors.
- That good management matters
- That well-managed properties pay dividends in terms of value and in the quality of life for residents, tenants and customers
- In professional ethics
- In the power of knowledge and the importance of sharing it
Barrett Property Management, Inc. Offers Coordination of Commercial Parking Lot Maintenance and Repair
One of the most common costs of owning a commercial real estate investment property includes parking lot care and maintenance. Barrett Property Management, Inc. (BPM) is experienced in overseeing maintenance and/or repair of commercial parking lots from start to finish. Because of the unique climate of Nevada City, Grass Valley, and Auburn, CA, bitter cold temperatures often leave asphalt parking lots with cracks, faded painted lines, and an overall faded gray color. BPM highly recommends a maintenance plan for your parking lot in order to extend its lifespan and avoid these potential hazards and cosmetic blemishes.
BPM has worked with multiple vendors from Nevada County down to Sacramento who specialize in parking lot maintenance and repair.
We are currently working with an investment property owner to restore the failed parking lot and retaining wall of their 1980’s Victorian Commercial Office space in Nevada City, CA, which BPM leases and manages.
The asphalt has sunken in because of a failed retaining wall. The retaining wall was constructed of wood, which was not a good option in the Nevada City climate. In order to properly fix the issue, the new retaining wall will be constructed of concrete and then the parking lot will be cut and patched where the asphalt has sunken in. The cut and patch technique targets a specific problem, rather than replacing the entire parking lot.
BPM will be posting blog update of the progress. Stay tuned!
BPM is also experienced in overseeing contractor’s work of seal coating and crack filling of commercial investment properties. It is always best to implement a maintenance schedule in order to financially prepare for the anticipate expenses. Call BPM today! We can help with your commercial property management needs!
Amelia goes out of her way to ensure that your experience with her is nothing but the best. Her attention to detail, knowledge of the business and consistent and courteous follow through cannot be beaten in this industry. If you need your property managed go to Barrett Property Management first! ~ Christine J, Roseville, CA
I’ve had the distinct honor of working with Amelia Barrett for the past 3 years. It’s rare in business to meet owners with such a high levels of integrity or concern for the well-being of their clients as she offers. My involvement with her has been through Barrett Property Management which she personally oversees the day to day operations. Amelia is also a woman of rare vision and has a keen sense of opportunity. I wholeheartedly endorse Amelia and Barrett Property Management for anyone’s future real estate needs. ~ Phillip M, Auburn, CA
Amelia’s assistance on some recent real estate decisions has been admirable. She comes to meetings well prepared, offers thoughtful advice and always considers sensible options. Obviously well qualified in her field, I would have no hesitation in using her services in any ongoing real estate transactions. Excellent work. ~ Dave , San Jose, CA