Property Owners; You’re Not Alone
As we enter into the vaccine phase of the COVID-19 pandemic, businesses will begin, if they have not done so already, to have their work forces re-enter their offices in buildings across the country. What that will ultimately look like and how that will impact the “normal” operations of a property remains very much in question for many landlords. How should “my” property operate and to what extent, given the costs?
This fundamental question is now more important than ever for Landlords who must strategize and act decisively to ensure that their properties remain stable. We all certainly expect that the “norms” by which traditional properties have operated for years will look different in 2021. How the new norm will look is an unknown and may very well differ from property to property.
Landlords who align themselves with a real estate management firm to help plan and execute these new strategies will be better positioned to capitalize on the new opportunities ahead of us in the New Year. Establishing a proper marketing, financial and operational approach to positioning your asset in 2021 will be complex. An expert management team will aid you in identifying pathways that will improve your chances of creating a stable and performing asset in the market.
The Principals of Goldstein Management have experienced downturns in the market, changes in the economy and unexpected events that have impacted the business community over their decades in the real estate business. The COVID era presents big challenges in the real estate market but they can be addressed by the right people with the right experience. Different uses of traditional space, new expectations from tenants and unfamiliar operating practices are some of the challenges that landlords will be confronted with in 2021 and perhaps beyond. Act now, develop a strategy, and rely on professional management help to guide you through these uncharted waters. You don’t have to face these challenges alone.