Hassle-Free Property Management: Kenwood Management's Approach
Commercial real estate management is a daunting and complex field to navigate for the uninitiated.
It requires an expert understanding of legal arrangements, financial management expertise, and a dedication to tenant satisfaction and well-being. The commitment can extend well beyond the standard 9-5 working day, often requiring owners to be on call 24/7 in case of emergency. It's a highly involved, demanding, and sometimes overwhelming experience, from late-night maintenance phone calls to overseeing multiple day-to-day operations.
Due to this, astute, high-net-worth commercial investors look to multi-tenant management groups as a strategy to extract maximum benefit and deliver hassle-free property management solutions. Partnering with the right management group is essential for not only financial success but also a smoother investing experience.
Through a blend of unique management and maintenance solutions, next-level tenant support, transparent reporting and finances, and unparalleled market knowledge, Kenwood Management offers investors a stress-free property management experience. Keep reading to learn how we do it.
Complete Property Management Solutions
Our decades of experience in property management and historical presence in the Washington, DC, and Baltimore markets means we offer a range of comprehensive and proven management solutions that are highly localized.
These include but are not limited to:
Tenant outreach, placement, and support: Backed by experience and a tried and tested screening process, we locate and place tenants with the highest probability of success. We offer ongoing support with 24/7 availability and manage all inquiries, concerns, and requests while ensuring compliance with all lease terms. With a focus on tenant renewal, our relationship extends beyond the formal to cultivate meaningful relationships with each tenant.
Finances and budgeting: As principal investors in each asset (we invest 10-20%), we take extra care when budgeting and managing finances. We collect rent, handle expenses and vendor invoicing, and prepare timely and accurate financial reports for investors. While we focus on long-term investments and have some impressive longevity to back it up, we always have an exit strategy in mind for investor wellbeing and peace of mind.
Legal compliance: We stay on top of all local, state, and federal legislative changes and ensure all buildings comply with zoning and accessibility codes. Due to our experience in the industry and presence in these markets, we maintain partnerships with trusted attorneys and legal specialists, ensuring we go above and beyond all property management regulations and industry standards.
Property upgrades: Our unique investment philosophy focusing on class B properties with manageable upgrades means we search out value-added opportunities to maximize return on investment and appreciation of our assets. We're constantly seeking ways to enhance property value and identify methods of value creation.
Maintenance: With an in-house maintenance team and longstanding partnerships with trusted vendors, we coordinate and manage all upgrades, renovations, and maintenance fixes.
Marketing: Through our extensive network of partners built up over our presence in the market since 1997 and our unique marketing strategy, we can fill spaces quickly and bring them to high occupancy rates. For example, after signing two new medical clients, we recently brought our White Marsh property to a 95% capacity.
Lease compliance: We ensure tenants abide by all the details and terms of a lease agreement from a respectful, open, and honest vantage point.
While we deliver all of the standard professional solutions property management can offer, it's our dedication to going above and beyond that marks the Kenwood difference and contributes to a stress-free investing environment.
We Have a Proactive Approach to Maintenance and Issues Resolution
Late-night phone calls, burst water pipes, and costly vendor bills can cause severe stress to underprepared commercial real estate owners. It's arguably one of the most stress-inducing components of property ownership and investment. In addition, failure of major systems or structural damages can mean unexpected and often high costs and significant disruptions to cash flow.
Our proactive approach to maintenance is comprised of the following strategies:
In-house team on call for emergencies: Our rapid response engineering team offers personalized professional services to tenants at any time of day dealing with maintenance and building service.
Preventative maintenance: By leveraging Micromain software, we track and measure all essential upkeep of all crucial systems to ensure optimal functionality while reducing the risk of systems failure.
Ongoing long-term relations with trusted vendors: We access assured quality at economical prices for larger projects and serious maintenance fixes through our long-term partnerships with trusted vendors.
Security: We install internet cameras into each asset for greater vigilance, safety, and assessment of contractor works
The Kenwood 'all-in-one' approach provides a comprehensive framework for maintenance services without the need to contract multiple vendors, delay fixes, and be on call 24/7 as an investor.
Tenant Management and Support
Happy tenants support stress-free property management as it leads to reduced vacancy periods and higher lease renewals, leading to limited breaks in cash flow and less turnover.
We implement tenant-centric strategies that extend far beyond the industry standard to ensure our tenants are empowered, happy, and flourishing in our spaces.
Some of these tenant retention strategies include:
Creating a space for learning and business growth: Through our multiple channels, including YouTube, podcasting, and online materials, we provide insights into small business sharing strategies to help our tenants succeed regardless of industry.
Ongoing communication and support: We maintain consistent communication with tenants not only when there is a problem but also to offer support, introduce business opportunities, or say hello.
Maintenance framework: Through our elaborate and rapid maintenance framework, tenants are empowered to conduct their business without fear of significant operations or cash flow interruptions.
Sustainability: Tracking significant systems, such as HVAC and energy reduction strategies, means reduced costs and sustainability for tenants.
Security: We employ security measures such as internet-enabled cameras to safeguard buildings and ensure quality work from contractors and vendors.
Networking and outreach: We provide learning opportunities such as 'lunch and learn' events where tenants can meet with business professionals and experts to deepen their practical skills.
Individual support: We take the time to develop deep relationships with each tenant to understand their business goals and needs. By establishing and actively fostering the Kenwood Community, we provide physical spaces and supportive networks that enable business success and promote tenant well-being.
Investors in Kenwood properties can rest easy knowing that tenants are provided with exceptional care, ongoing growth opportunities, and next-level support. Our tenant retention rate is over 95%, and we've had numerous tenants stick with us for over twenty years.
We Provide Ongoing Communication and Reporting
We're committed to providing transparent, regular, and accurate updates to our investors. This helps investors experience better peace of mind (and less stress) about their investments.
Some of the ways we achieve this include:
Transparent financial reporting: Driven by the pillars of honesty and integrity, we provide investors with accurate financial data and updates showcasing the financial health of their investments.
Industry updates and articles: We publish regular updates in our press room and industry articles showcasing acquisitions, milestones, and thought pieces on the commercial multi-tenant marketplace, focusing on the Baltimore and Washington DC areas.
Newsletter: Our newsletter keeps investors in the loop about what's happening in the Kenwood world.
By maintaining a regular reporting framework and updates, Kenwood investors are informed and never left in the dark.
Our Experience and History in CRE Management Deliver a Hassle-Free Opportunity
Due to our historical presence in CRE and the Washington DC and Baltimore areas, we've firmly established ourselves as an industry leader. This expertise means we can source, evaluate, and execute transactions quickly and efficiently, leveraging our long-term partnerships and network of trusted associates when necessary.
Our background in multi-tenant commercial real estate is diverse and extensive. We own and manage over 1.4 million square feet of property in various asset types, including office, flex, and warehouse. Each acquisition has been a learning experience, allowing us to refine our acquisition process and management strategies.
Our experiences have delivered some impressive financial markers. Every property we've managed since 1994 has outperformed its projected returns. For example, our Nova Industrial property has produced returns of over 1500% compared to 240% over the same period made by the S&P 500.
Additionally, every property we've owned for over ten years has outperformed the S&P 500, an index of the 500 largest traded companies on the U.S. market.
For Hassle-Free Property Management Solutions, Choose Kenwood
Due to the significant capital investment and involved duties, investing in commercial real estate can be stressful. There are many obligations and considerations to take on board. However, one of the easiest ways to reduce stress is to work with a team with experience backed by the systems and the know-how to deliver profit while managing the daily duties that can consume so much time and effort.
Kenwood offers commercial investors a stress-free investment opportunity through our thorough internal maintenance systems, unique tenant management, transparent communication, and historical longevity in the Washington DC and Baltimore marketplaces.
To learn more about success through CRE, request your free copy of our "Commercial Real Estate Investment Secrets: A Guide by Kenwood Management." You can also reach out directly to our team to learn more about how we help investors succeed!