Why is specialized industrial property management so important?
Only around 35% of industrial space in Poland is managed by external, professional companies specializing in providing property management services. In contrast, over 75% of office space is serviced by professional property managers. Why is industrial property management conducted by experienced professionals so important? Why is the role of property managers crucial in organizing processes enabling the optimum functioning of a building?
Professionalism, experience and creativity of the property manager not only encourage swift operational processes but also influence the scheme’s financial results. Management requires the necessary knowledge and skills for the property to function seamlessly both in economic and legal terms. Management of office space consists mainly of ensuring safety and the working comfort of its users as well as focusing on the building’s aesthetics. However, management of industrial parks/industrial space is a complex process combining aspects including safety of people, products and buildings.
Contact
The property manager serves as the primary contact, “data base”, administrator and advisor for tenants. In the management of industrial parks, technique and the provision of services and supplies are of crucial importance. Each tenant has their own technical team, however, it is the property manager who must properly select the subcontractor firm (including the company providing the scheme’s technical services) so that its experience and skills will comply with the needs of the tenants and in line with their established budget. Responsiveness, creativity and experience are extremely important. An hour's delay in the scheme’s work often translates into real and substantial losses. An important aspect of industrial parks is the fact that they operate 24/7, be it either production or the receiving or distributing of products. Therefore, that is why making sure the whole park functions properly and maintaining the required standard of technical services and security are of paramount importance. Furthermore, the managing company can also organize employee transportation as well as communication services for the whole complex.
Procedures
A good property manager should establish procedures regarding the park’s proper functioning. He/she creates Building Regulations – a catalogue especially prepared for the tenant in order to help them to organize the work within the complex’s area. Furthermore, in cooperation with fire services the property manager establishes fire safety instruction rules as well as rules for evacuation. Another important element regarding the management of industrial parks is traffic organization within the complex. Both drivers and pedestrians must have a clear understanding of how to move within the scheme in order to enable traffic flow and ensure the safety of people in the scheme’s external area.
Insurance
The property manager should deliver all the necessary documentation and information regarding the scheme to the insurance advisor as well as helping him/her to select the best offer available. Insurance is of paramount importance in the whole process of property management and is administered by the property manager. The scheme’s owner is usually ultimately responsible for the property’s insurance, making sure that the building is covered against all risks as well as civil liability, including lost profits. Nowadays, property owners more frequently decide to insure their schemes against terrorist attacks not only in office buildings or shopping centres but also in industrial parks. Furthermore, depending on the geographic location, the owner may be also be obliged to buy insurance against natural disasters. It is worth pointing out that the tenant has to take out insurance for the equipment within the company's leased space.
Ecology and invention
Our research shows that owners should focus on reducing the energy consumption of their schemes during the industrial park’s design phase. Current insulation materials differ greatly from materials used in the past in terms of thermal transmittance coefficients. Furthermore, one can also apply sectional lighting (for example in warehouses, where sometimes there is no need to light the entire building) as well as design fittings and lighting installations using either LED or energy-efficient light bulbs.
A professional property manager must be both creative and innovative. This is of crucial importance when it comes to industrial space. While in an office building dirty ceiling tiles might be a problem, industrial property manager must be able to immediately fix a leaking roof or burnt generator so that the losses are kept to a minimum. Often, on our own initiative, we prepare various instructions and manuals so that tenants may better understand procedures and be able to reduce the costs of repairs. Furthermore, we promote green, ecological solutions.
Nowadays, many industrial park owners cope with property management on their own. Sometimes, this is met with disappointment by tenants and/or with loss of profit for the owner. Therefore, it is worth considering professional, external companies to take on the property management role allowing owners to focus on their core business.
We encourage you to visit www.warehousefinder.pl for more information on the industrial real estate market in Poland.
