Important Tips for Managing Commercial Properties in Phuket

Commercial properties in Phuket have increased significantly over the last few years. And ever since the economy has opened its doors to a number of foreign businesses, it can be guessed that there will be a steady growth towards that direction.

We’ve listed out some tips & tricks on how to manage commercial properties in Phuket.

What Are Commercial Properties in Phuket?

Commercial properties in Phuket are places where businesses work. They can be shops, offices, or warehouses used by businesses to make money. These places are rented or leased by businesses to run their operations. They’re important because they help businesses grow and add to the city’s busy commercial scene.

Types of Commercial Properties

Each type is used for different things and meets different needs for businesses. Different types of commercial properties in Phuket include:

• Places where businesses have their offices and do their work.
• Shops or stores where people buy things.
• Places where people eat or drink, like restaurants, cafes, or food courts.
• Big buildings used to store goods before they’re sold or moved elsewhere.
• Places where people stay temporarily, like hotels, resorts, or guesthouses.
• Buildings used for making or processing goods.
• Properties that have different kinds of spaces, like offices, shops, and apartments.

5 Tips For Handling Commercial Properties

Here are five great tips for managing commercial properties in Phuket.

Understand Your Space Better

When we say “get to know your space,” we mean you should really understand what your commercial properties in Phuket are all about and how they fit into their industry. Commercial spaces are more complicated than regular homes. Different types of businesses have different needs. For instance, a restaurant needs different things compared to a retail store. Knowing everything about your property helps you handle the small stuff, like safety rules and following industry standards.

To understand your property, do some research on your industry and local laws. Also, keep records of everything, like maintenance, specs, and conditions.

Keep Up with Upgrades

Upgrades are important but many property owners forget about them. They might cost money, but they make your commercial properties in Phuket better. Today, renters want modern spaces with good facilities. If your space is old, you might not get a good price for it. 

You don’t have to spend all your money at once. Start with small upgrades like better fixtures or smoke detectors. Later, you can think about bigger upgrades like new ventilation systems or smart devices. Even small upgrades make tenants happy, which helps keep your rental income high. 

Have a Maintenance Plan

A maintenance plan helps you avoid expensive repairs later. Commercial properties in Phuket need a lot of basic maintenance, like cleaning and fixing things. You can get help from a property management company to make a schedule for regular maintenance tasks. Keep an eye on things like electrical systems, plumbing, and pest control. Include potential upgrades in your plan too. Keeping everything in check has many benefits, like increasing your property value and preventing injuries.

Stay Connected with Your Tenants

Losing a tenant can hurt your income. Keep your tenants happy throughout their lease. Make them feel comfortable telling you what they need. Also, make sure your commercial properties in Phuket don’t create problems for them. For example, don’t put two competing businesses next to each other. Your tenant won’t like it. Keeping your tenants happy makes them pay rent on time and stay longer. If you do a good job, they might even recommend you to others.

Think About Property Management Services

Technology can help manage your commercial properties in Phuket better. Property management software organises everything for you. It’s useful for big properties where there’s a lot to keep track of. You can also hire a company to manage your property for you. Ourvillas offer many services to help you manage your commercial properties in Phuket better, like dealing with tenants and handling rent collection.

Frequently Asked Questions