Throughout my life, I’ve had lots of hobbies: comic books, bouncy balls, Pogs, video games, sports, poetry, and way more than I care to mention. All of them had a piece of my life, and each affected me. But my newest hobby, and the one that is making me a lot more money than selling my Pokémon cards ever did, is blogging.
Yes, I was part of Xanga and LiveJournal back in the day, though I was never big into Myspace. Facebook continues, and Instagram, Snapchat, etcetera. They all allow the author to create and share. That’s great for personal entries, but since I’ve started this WordPress for my company, and I’m learning how important it can be as a business tool as well.
Nowadays, business cards are a dime a dozen (and too many of us have dozens of them piled up we’ve not looked at in months). Blogs are the new business card, your calling card helping you:
- Add Value – the main reason property managers exist is customer service, so you won’t find entries here that sell to you or that typically even talk about our company. Every now and then, I’ll reference a recent transaction to prove a point, but we recognize that in the 21st century you’re CONSTANTLY being sold to. People are tired of being sold to and can tell your real motives. When you explain the good versus great, readers will naturally be attracted to your company, assuming since you’re talking about it, you’re the expert and are doing it right.
- Attract New Clients – The biggest reason you should start a blog is SEO (Search Engine Optimization). This is fancy language explaining how search engines categorize your website. By linking your blog to your company’s website, the unique and engaging content you’re creating on your blog with naturally raise the quality of your website, so it will show up higher in relative search results.
- Establish Expertise – By creating a blog, you’ll stand out as knowledgeable and that will translate to profit. The good news here is that within your niche, you probably are the expert. One of the best ways to show this is a demonstration video. Luckily these days, almost everyone has a smart phone, so you should be able to record and edit right from your phone. HUGE to remember: familiarize yourself with the camera (angles, lighting, sound quality, and if you’re using it, a script). Whatever you’re demonstrating, it shouldn’t be the first time you’ve ever done it – but should instead be extremely routine for you – the only difference being that you may talk out loud as you perform the action slowly so that your audience can catch every detail.
- Organize Your Thoughts and Learn – When you teach others, you learn too. Combing through all the knowledge you have and deciding what is the best to put forward teaches you too.
- Tell your story – people don’t want hard facts and statistics anymore. If they’re on your blog, keep it creative. Have a voice, have a tone. Thing is, the most attractive blogs out there are sassy and state truths. This works well with your SEO, as the more unique your content, the higher Google scores your website’s quality.
Your blog can prove you’ve put the time in to earn your stripes. It will be a public journal where, as long as you do it right, customers will be reaching out to start business with YOU!
No matter what you’re trying to have someone do or stop doing, the most effective method is EMOTION. For example, if you are concerned about the safety of the parking lot at your shopping center… let’s call it Crossroads Mall… Good, you should be. Remember, customers like shopping places that look good, feel good. Danger doesn’t feel good and it’s not welcoming. Crossroads is the coolest mall in town, but right outside there have been several cars broken into during the last month, so people won’t come. Step one for you: LIGHTS. Install LED bulbs that are bright and point to the ground. These illuminate the parking lot and will naturally deter lots of crime. Step two: SIGNS. Word these in a way that give information about cleanliness (“NO DUMPING – Violators will be prosecuted”) and help customers feel safe (“SMILE – You’re on camera!”).
After emotion, people look to FACTS. Still assuming we’re talking about Crossroads Mall, you might use statistics and studies in a press release showing your mall outpacing all others in your region. With over 400k square feet of air-conditioned retail space including 5 upscale restaurants, countless services, and new state of the art IMAX theatre, Crossroads Mall is the social hub of Somewhere, Florida. Facts are facts, no matter who speaks them.
Finally, we come to CREDIBILITY. Another word for this is respect. The classic example for this is “Trust me, I’m a doctor.” This may be used after a request is made, like “Go on a diet.” But so far, you and your mall haven’t asked very much of the customers. I said it earlier, people like to shop places that look good and feel good. But the bad guys probably won’t listen to you if your sign just says pretty please. Put some FEAR into them. Use your sign to state how your mall is monitored by 24-hour ADT Security and the local police department. They’ll think twice when you warn them not to park somewhere or dump their trash while mentioning violators being towed or fined.
So just remember, if you’re trying to change someone’s behavior, use the elements that affect them the most, and use them well. Emotion, facts, and respect – but the greatest of these is emotion!
Alright owners…when’s the last time you looked at the leases for your tenants? (Hint: you really shouldn’t have to – that’s what property managers are for!) If you’re still overseeing your own leases and going it alone… then you’re in luck. Today, I’m covering three easy ways to save money as a commercial property owner.
To illustrate this, I’m actually going to reference a client our agency recently worked with. For the sake of privacy, let’s just call this unfortunate soul “Busy Property Owner”. Desperately behind on his books, Busy Property Owner asked us to go back and do a reconciliation of the past five years… and what we found was just too scary not to share. Busy Property Owner didn’t make any unusual or grievous mistakes. He just missed a few simple things, and still, he left over $50,000 on the table in less than 5 years’ time. Don’t be like Busy Property Owner. Keep reading, and keep your money with these simple tips.
- Save money by paying property taxes in November. In over five years, Busy Property Owner never once paid property taxes on time for the largest possible discount. Big mistake, as this can save you 4% yearly – trust me, 4% adds up over time, especially when we’re talking multi-million dollar investments! In addition to not receiving the maximum discounts, Busy Property Owner didn’t pay taxes until sometimes months after they were due. The properties were then taken to auction and the owners literally had to pay fees to get their OWN PROPERTIES BACK.
- Always apply the rent bumps.In the same example provided above, for five YEARS Busy Property Owner never once increased rent. Huge mistake. Just imagine how much this affected his cash flow! Why, he could have been increasing the rent sometimes by as much as one, three, or even ten dollars a square foot. It’s equal to giving your tenants free money. Just. Don’t.
- Increase your CAM reimbursable.You probably saw this coming… Yes, sadly, Busy Property Owner never touched the CAM rate increases, so they stayed the same for five years. Don’t cry for him. It just means that when costs for vendors and various services increased, our favorite Busy Property Owner was forced to pay out of pocket what tenants would typically reimburse. Again, unrecoverable.
Finding money is sometimes as simple as 1. managing your leases wisely (or having someone do it for you) 2. not being forced to pay fees and 3. charging the tenants as much as you can.
It depends. Kind of like Batman. Go with me here, it makes sense. Batman’s passion and duty are aligned: justice. Your lease? Same thing, if you can believe it. It’s ideally designed with the owner in mind, and all its fine print and confusing wordage is there to give you rights and protection. A safety net, just in case things go wrong.
Now, you may be asking, “Isn’t Batman a vigilante? Does that mean my lease is too?” Actually…yes. Sometimes your lease goes about getting you justice without a certain level of decorum typical of most superhero leases.
What I mean here is that, by working within the confines of the lease to maximize reimbursable expenses from the tenant, you get justice. You already paid CAM, and now your lease states how and when and how much the tenant owes you in return. The justice in this example comes from breaking even every month.
*** SPOILER ALERT*** Just like with Bruce Wayne AKA Batman (were you wondering if I would leak his secret identity?) – he doesn’t treat everyone the same and call that justice. Instead, he only strings the bad guys up from their boot straps .
On that note, your lease literally gives you the legal right to go after your tenants if they are being ‘bad guys’ by not paying their rent or causing other nuisances around your property. Your lease here is not only your most powerful ally, helping you navigate the legal challenges if you’re forced to evict, it’s also your badge and shield. That’s right, it’s your legal authority to put tenants in default, charge them late fees and, if needed, evict.
Because the truth is, bad tenants can cost you thousands of dollars and, more importantly, tie up the leasable space for months if not years.