Commercial Leasing & Property Management Services
We provide Commercial Leasing Services, aka Tenant Placement Services, and Commercial Property Management Services to commercial real estate investment property owners for properties located in Placer County, CA: Auburn, Newcastle, Colfax, Weimar, Meadow Vista, Foresthill, and parts of Lincoln and Roseville and Nevada County, CA: Grass Valley, Nevada City, Penn Valley, and Cedar Ridge.
Types of Commercial Properties
The types of Commercial Properties we manage include the following:
Strip Centers: A strip center is a line of buildings connecting each other. The idea is that the different types tenants will support each other. Customers can shop at one store and then feed into the next. This is a symbiotic relationship where each store helps the other, which means success for the merchants and for the owner of the building. A strip center should have easily accessible parking that is located close tot the building.
Stand Alone Retail Buildings
Office Space with Shared Interiors: Common areas are shared by multiple tenants who each individually rent office spaces. There are typically common area expenses (CAE’s) that tenants share which include janitorial services, landscaping, and utilities.
Entire Office Space Buildings
Industrial: These buildings can include warehouses, distribution centers, garages, and industrial spaces for specific retail business types.
Mixed Use/Multifamily: A combination of different types of commercial buildings which can include apartments
Commercial Leasing Services
Our Commercial Leasing Services aka Tenant Placement Services include the following:
Evaluation of the property including a “meet and greet” with the property owner(s) and a preliminary interior inspection to determine the property condition and assess if any cleaning, maintenance, or repairs are necessary.
An evaluation the current market rents of comparable commercial properties to arrive at a suggested rental rate range. Our experience in the industry will greatly air in achieving the greatest rent while continuing to keep vacancy rates low.
Preparation of a maintenance plan to include immediate action, preventative maintenance, recurring maintenance (landscaping, janitorial, common area maintenance, etc.), and future maintenance.
We will advertise your commercial property for lease via the following web sources:
Local Nevada County and/or Placer County Multiple Listing Service (MLS).
Our website which is ranked top in the search engines. This means that when people search for commercial properties they will see our website first. We also take pride in our excellent online reviews from satisfied clients.
We can also advertise your commercial property for lease via the following avenues:
Optional and highly recommended: COMMERCIAL FOR LEASE sign at the property
The Union and/or Auburn Journal Newspaper ad – upon request only (additional cost to owner)
Agent Referrals (Via weekly local Nevada County Association of Realtor’s and Placer County Association of Realtors MLS meetings)
We are available 7 days a week via appointment to show the property to perspective tenants.
In-Depth Tenant Screening: Our in-depth tenant screening includes the following process and minimum qualifications:
Submittal of a commercial lease application and screening for: adequate income, good credit and excellent commercial rental history. In lieu of credit check, we will accept one of the following:
The business has been in continuous successful operation at another location for at least 5 continuous years prior to the application and operated by the applicant during that entire period of time.
The applicant has a minimum of $25,000 of liquid assets.
The applicant is a “recognized” and “well-established” community institution such as, but not necessarily limited to, non-profit corporations, foundations, banks, or other businesses. A determination of whether an applicant is a “recognized” and “well-established” community institution shall be at the sold discretion of Barrett Property Management.
Execution of the lease agreement, addendums and disclosures: After the lease, addendums, and disclosures are executed, we will provide the property owner with a complete file of all screening and lease documents.
Cost: 100% of one months rent with $1000 minimum.
Commercial Property Management Services
Our Commercial Property Management Services include everything listed in Commercial Leasing Services, plus the following:
Maintenance & Management: Available 24/7 for property emergencies, maintenance requests, tenant issues and general property management.
Coordination and supervision of all maintenance repairs from start to finish at no additional mark-up of contractor’s invoice. If you have your own vendors that you use, we’re happy to use them as well!
Periodic drive-by inspections of the property to ensure tenant is in compliance with the lease.
Schedule interior inspections when necessary, generally every 6 months.
Tenant retention and lease renewals: We strive to maintain open lines of communication at all times with all of our tenants. This, along with fast responsiveness, has proven to be the key in successfully retaining tenants. Upon lease expirations, we will execute lease renewals with rent increase, if applicable.
Monthly Rent Collection: Ensure tenants pay monthly rental payments on time. Enforce strict rules if rent is late. If applicable, 3-day notices will be served and referred to our lawyer, Elen Pass Brandt, for eviction.
Payment of Bills/Invoices pertaining to Property: Included in Commercial Property Management Services, we will pay the following bills/invoices for you (if you choose), as long as invoices are provided to us and the funds are available in your property account:
Recurring Monthly Maintenance (i.e.: Janitorial Service, Landscaping, etc.)
Property Owner’s Funds Distribution & Accounting Statements:
Electronic monthly disbursement to property owner on or before the 10th of each month.
Monthly computerized report of all income and expenses for the property and copies of any invoices paid (Produced on or before the 10th each month and accessed via your Owner Online Portal).
Year-end summary statement for tax purposes showing and categorizing all yearly income and expenses.
Annual 1099 form for rental proceeds.
7% withholding for out-of-state owners.
Cost: Cost: 6% – 9% of the gross monthly rents depending on number of units, gross rents and lease length.