Melrose Realty manages over four hundred properties throughout Oklahoma. Some of the most popular but often overlooked properties we manage include office spaces.
Why do they tend to be overlooked?
It’s usually because when you think about commercial properties, you might think about industrial buildings like commercial laundries or mechanics’ shops. Or retail properties like malls and shopping centers. When people think about office spaces, the idea of needing a property manager doesn’t usually occur to them right off the bat.
Why?
Well, as the owner of an office property, you understand the space you’re providing is usually a blank slate waiting for a business or company to come in and set-up shop. You’re not going to provide them with computers or other office supplies. They’ll more than likely bring in the types of desks or cubicles they want their employees to use.
The tenant will usually handle their own cleaning. And a business utilizing office space more than likely won’t need a large area for shipping and receiving or any type of warehousing. All the utilities are their responsibility, so as long as the building has power, water, and accommodations necessary for a business to move, your work is pretty much done, right?
If only that were true. Yes, you can act as the landlord for your office property, but that doesn’t change the fact you’ll still have to:
- Market the property when vacant
- Screen potential tenants
- Negotiate lease terms
- Deal with the tenants
- Schedule repairs and inspections as necessary
- Handle emergencies
All of the above still demand your time and attention. Not to mention, the more office units you have, the more tenants you’ll have. Why not trust us to handle them for you so you can focus on your actual full-time job?
With Melrose Realty, you’re still getting turn key service property management in Edmond & Oklahoma City, no matter what the rental property is. We’ll handle everything a landlord would, so you don’t have to.
Types of Office Spaces
Whatever the type of office property you have, we take on all of the responsibilities of ensuring your income-producing property remains profitable. When we say types of office spaces, we don’t just mean the type of business that will call your space home. We’re also referring to the location of the office space and whether it’s a single-use property or multi-tenant property.
The types of office space we manage include:
- Medical Offices:
These can range from spaces dedicated to family practitioners, dentists or specialists like ENT doctors or orthopedic surgeons. These types of office spaces usually have long-term tenants. Managing these types of medical spaces, they will also have stricter requirements for safety and inspections.
- Commercially Zoned Homes:
We’ve all seen these types of properties. What was once a home is now an office space for a business like a law firm or accountant, just to name a couple.
- Urban Office Property:
Similar to any typical office space, but usually found in a multi-tenant property in a building such as a mid or high rise in or around a downtown-type area.
- Suburban Office Property:
These are the types of office properties you may find in suburbs that have wider streets, easier access, and are closer to neighborhoods and, thus, potential or active clients. The properties tend to be located in dedicated office parks with a lot of green space.
What You Can Expect From Us
Our priority is to maximize your profits while protecting your office property investment for years to come. We do this by:
- Marketing Your Property
- Creating and Executing Leases
- Scheduling and Executing Inspections
- Vetting Potential Tenants
- Collecting Rent
- Scheduling and Executing Maintenance
- Handling Emergencies Effectively and Efficiently
- Maintain Records and Statements
Capital Improvements
One thing that shouldn’t be overlooked when it comes to office properties is that they often require a good amount of capital investment upfront prior to new tenants moving in. This is very much the case for medical offices.
Because of the amount of capital that often needs to be invested upfront, your property will also demand higher values. This is one of the major reasons office properties are such an attractive investment opportunity. Let Melrose Realty keep it highly profitable for you for years to come.
In the End…
With Melrose Realty, you’re hiring professionals that balance both investor’s and tenant’s needs, leading to long-term residency and maximum profits. Remember, you are our number one priority.
Still have questions? Ready to start? Book an initial consultation with us and we can address any lingering hesitations or answer any questions you may have!
