As a property owner, there are some great opportunities to increase net worth and cash flow, but there are also many possible headaches as well. For example, tenants who don't take care of the property, tenants who are short on rent, losses to the property for which the tenant won't take responsibility, negative cash flow, just to name a few.
But, that is not the reason property owners get into business, they get into business to create cash flow and net worth. Unfortunately, at times this can be elusive.
The differences between Commercial and Residential properties, are as unique as the tenants who occupy those properties. From the rights of the tenants, to the various exposures to loss they have today vs. when you first started renting the property. It can be difficult to keep a breast of all the changes.
Having a property manager may feel like a good way to transfer risk to another party, but the bottom line is, the property owner is ultimately responsible. On top of that, not all property managers have the best interest of the property owner at heart. A property manager needs volume to make money and with volume comes neglect, which in turn can turn into loss.
Qualified Risk Management assesses and mitigates the unique exposures to loss and capitalizes on opportunities to make more money. In our experience, Qualified Risk Management, is the only way to protect your investment in that property and help the property owner increase cash flow and grow the net worth.