Entries by Martin Sommer

Is This the Future of Property Management Events?

In an industry that has relied heavily on signed documents, in-person inspections and networking, property management businesses have had to pivot sharply during the pandemic to maintain connectivity with their potential and existing customers. The COVID-19 pandemic has turned the world of work upside down. People are not as comfortable in face-to-face meetings, social events […]

Commercial Tenant Rights: An Overview

As a landlord, it is important to understand commercial tenant rights as well as your rights and obligations. Commercial tenancy regulations are far less restrictive than residential landlord-tenant acts and tend to favour the landlords. This is because commercial lease agreements are viewed as contracts between knowledgeable business people. Therefore, the assumption is that they […]

When Should You Hire a Commercial Property Manager?

Owning commercial properties is an excellent investment, but managing it can also be a lot of work. Some owners prefer to manage their properties themselves, but you may find it makes sense to hire a commercial property manager to help you out once you scale up. When does it make sense to take that next […]

Choosing the Right Commercial Property Management Software

Migrating your business to commercial property management software can dramatically improve its efficiency, scalability and profitability. But with so many programs available these days, it can be challenging to know which will intuitively do what you need it to do. Take the time to do your research and carefully evaluate your options to find the […]

Data Protection: Now More Important than Ever

Data protection is increasingly more important for businesses as cyber attacks become more frequent and more destructive. The number of attacks has increased as hackers have taken advantage of the work-from-home model adopted during the pandemic. According to Fintech News, 80% of businesses have seen an increase in attacks this year. Without reservation, hackers look for […]

What are CAMs and How to Avoid CAM Slippage

What are CAMs? Before we dig into CAM slippage, let’s get clear on exactly what CAMs are. CAM stands for common area maintenance. Property managers of multi-tenant office, retail, industrial and warehouse properties typically use net leases. Such net leases recover from the tenants the operating costs for shared common areas separately from the base […]

Work From Home for Property Managers

It seems that to be truly relevant, back in 2020, every communication must include the words “unprecedented” and “global pandemic.” This has certainly been the case for news articles of recent. We sincerely hope that those words become less frequently used as time passes. With some pandemic life experience under our belts, we can now […]

5 Ways Software-as-a-Service Can Enhance Customer Service

If you are a small to medium-sized CRE PM business owner, no one knows your customers as you do. So, it should come as no surprise that technology is disrupting traditional customer service models – in a big way. Cloud-based Software-as-a-Service (SaaS) is making its biggest splash ever. But going digital does not mean getting […]

Changing Workplaces – Thoughts on Post-Pandemic Workspaces

We share a few thoughts on workplaces becoming non-tactile and managing environments in the post-pandemic period, and invite you to comment and share your insights. Assessing the scope There are two main areas of concern in workplaces: tactile surfaces and managing the air in the work environment. Both are directly related to containing the spread […]

This is why COVID Makes Remote Asset Management Essential

Virtual offices, rent deferrals, building closures. As coronavirus sweeps the globe, property managers face new daily challenges in a rapidly evolving economy and remote work requirements. Companies that haven’t already moved to remote asset management are experiencing significant disruption and inefficiency. How long this “new normal” will last is anyone’s guess. In response to COVID-19, […]

Formalizing Business Processes with Asset Management Software for Maximum Wealth Creation

Small landlords with just a few buildings own most commercial property. Often, these landlords share a similar pathway to becoming landlords. Initially, they purchase real estate assets for their business operations. Over the years, they add a few more properties as their business and personal wealth increases. Their idea is to use real estate assets […]

The Costs of Not Moving to Modern Online Business Systems

Online business systems in the financial sector Modern online business systems for commercial property managers? There’s a common expression in commercial property management that real estate runs on spreadsheets. It’s true. There are four major categories in the financial investment sector: Banks Investment funds Insurance companies Real estate Of the four, real estate lags the […]

Calculating the CAMs (Common Area Maintenance)

Why is common area maintenance relevant? Commercial net lease cost recoveries are in the same order of magnitude as the base rent. Given that fact, three things are vital to determining the value of each lease and the property investment returns. Specifically, you need to know what these costs are, how they are calculated and […]

Commercial Landlord-Tenant Loans: Yes or No?

Landlords and property management companies don’t often employ commercial landlord-tenant loans during lease negotiations. In our experience, there are five main reasons for this. Here we break them down and investigate their validity. Additionally, we show ways that commercial landlords benefit from providing tenant financing options. Would you give a tenant financing? Ask commercial landlords […]

Business Systems: Entry-Level or Enterprise-Level?

So, you’re looking to improve your business systems and discovered there are more commercial property management software options than you thought possible. How does a smart executive choose? It’s essential to weigh price against capability, workflow and productivity gains. As a result, the most financially efficient system will become obvious. Let’s investigate this in detail. […]

How are Leasehold Improvements Accounted For?

What are leasehold improvements? Leasehold improvements are construction that is done to the premises a tenant is leasing to make the space functional for them. Depending on who pays for the improvements and who owns them, there are a variety of legal ways in which the costs are accounted for. Commercial tenants will want to […]