How to Audit Your Current Property Manager’s Performance in One Afternoon
Slow responses. Confusing financial reports. Maintenance requests that seem to disappear. When concerns like these accumulate, it is easy to conclude that your property manager is underperforming. The problem is that dissatisfaction is difficult to act on when it has not been documented. Your management agreement may specify notice requirements, default provisions or an opportunity […]
Read More
Owner Reporting Done Right: What a Monthly Commercial Report Should Include
Owning a commercial property should not mean waiting for a year-end statement to learn that expenses have drifted, a tenant has fallen behind, or a lease deadline was missed. Yet many owners receive little more than a bank deposit and a dense accounting export each month. The numbers may be accurate, but they lack the […]
Read More
How Commercial Property Is Valued in Canada and Why Your Appraisal Came in Low
A commercial appraisal that comes in below expectations can affect a sale, refinancing or investment plan. A buyer may no longer qualify for enough financing, while an owner refinancing a property may receive lower loan proceeds than expected. However, a low appraisal is not necessarily an error. Commercial property valuation in Canada considers the property’s […]
Read More
How to Vet a Commercial Tenant’s Financials Before You Sign
A commercial lease is a long-term financial commitment in both directions. When you sign a 5-year lease with a tenant who defaults after 8 months, you don’t just lose 8 months of rent. You lose the income the lender expects to service your commercial mortgage. You lose months of vacancy while you find a replacement. […]
Read More