admin / June 23, 2017
When thinking about real estate, the last word that comes to mind is flexibility.
Real estate itself has rigid boundaries and transactions are governed by rules and definitions. Commercial real estate even more so. Leases, including addendums, rules and regulations, etc. encompass twenty-plus pages of inflexibility. But flexibility is key to the ever-changing trends in the commercial real estate environment. Consider the upheaval that is currently underway in the retail real estate sector or how online ecommerce is affecting the industrial sector.
An investment that cannot meet your needs in a changing real estate environment is a bad investment. Because your investment or business priorities today may not be the same as your priorities ten years ago, or twenty years from now, flexibility is crucial. Change is imminent. Technology changes can result in functional obsolescence… External obsolescence can result from new or redevelopment changing the dynamics of an area or an industry… Personal or business challenges can completely change your priorities.
In a world full of uncertainty, the only certainty is change. We can be certain that our priorities will change. Have you positioned yourself and your commercial real estate investments to evolve accordingly? Is your management team proactively advising you and taking action relative to the changes currently affecting the different commercial real estate sectors? They should be.
If you’d like to discuss some of these industry trends, your property in general, or the benefits of a professional management team, please feel free to contact me at (916) 722-0333 or firstname.lastname@example.org. If you are considering a change in your property management company, or considering hiring a professional property manager for the first time, Laverty Chacon can help.
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