ShareWhether you are new to commercial property management or are a seasoned expert, NAR offers useful information concerning leases, safety and security, marketing, and maintenance, and risk management for commercial properties.
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References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.
Office Building Trends
Top-End Office Buildings in Demand as Return to Work Mandates Add to Momentum (Nareit, Jan. 10, 2025)
“Overall, market vacancy seems to have stabilized in 2024 at 19%, but for the previous four years vacancy rates were increasing. However, in prime spaces, the market average is 15.5% vacancy, and net absorption has been positive every quarter since the pandemic, despite new delivery of prime space to the market,” [Julie Whelan, head of occupier research for the Americas at CBRE] notes.
Office Utilization Shifts Bring Down Property Valuations (Commercial Edge)
- The average sale price for office buildings fell by 11% year-over-year, to an average of $174 per square foot at the end of 2024
- The national vacancy rate stood at 19.7% in January, up 180 basis points year-over-year
- Construction starts decreased by 67% in January from the 27.5 million square feet of office starts recorded throughout 2024
- Manhattan remained the most active market for office transactions in 2024, leading the nation with a total of $4.9 billion in sales volume
- Despite continuing to lead the nation in office construction, Boston’s pipeline suffered a significant year-over-year decline from 14.5 million square feet under construction a year prior to only 7.3 million in January 2025.
Office Space: What Recent Trends Mean for Businesses (Forbes, Jan. 24, 2024)
Because of the pandemic and work from home (WFH) trends, many Class B and C office buildings have a higher vacancy rate. Hence, many of these buildings are now worth less due to less expected future revenue and lower present values for whatever future revenues do come in because of higher debt borrowing costs.
Offices Change, Accommodating New Work Styles: To Appeal to Various Clients and Work Styles, Office Building Design Is Shifting (Consulting-Specifying Engineer, 2023)
Employers are providing “more flexible and comfortable spaces, increased collaboration space and improved technology, which all support the many changes that companies have seen over the past couple of years. For the buildings themselves, we are starting to see some movement on the building provided amenity space including lobby improvements and added seating areas to provide users with alternative work locations. For new office buildings under construction, we are seeing these amenity spaces receiving much more time and attentional to provide an improved experience within these buildings.”
Leases
Property Leases: What SMBs Need to Know (Business News Daily, Feb. 15, 2025)
There are several core elements of a commercial lease, such as the cost of rent, additional fees, the security deposit and the length of the lease.
Understand the Different Types of Commercial Leases (fitsmallbusiness, Jul. 25, 2024)
Full-service leases
- Most common type of commercial lease for office buildings
- Landlord is responsible for paying the expenses associated with the property, including property taxes and insurance, repairs and maintenance, and utilities and janitorial services
Net leases
- Single net lease: A tenant pays rent plus a pro-rata share of the building’s property taxes.
- Double net lease: A tenant pays a portion of the property insurance in addition to rent and property taxes.
- Triple net lease: A tenant pays the pro-rata share of property taxes, property insurance, and CAMS. Triple net leases are the most landlord-friendly and are most common with restaurants and retail locations.
Modified gross lease
- A compromise of the full-service lease and the net lease. A tenant might pay for their portion of their property taxes, property insurance, and CAMS, but they pay it as a lump sum payment along with their rent
Eight Things to Watch Out for When Leasing a Commercial Property (Forbes, Apr. 23, 2019)
- Hidden fees
- Guaranteed tenant improvements
- Lack of clearly specified goals
- Maintenance and repairs
- Tenant credit and financial history
- Default/breach and cure/remedy terms
- Pass-throughs
- Ancillary terms
Safety & Security
Effective Property Management Tips for Success (ESS Global Training Solutions, 2025)
- Communicate effectively with tenants, owners, and vendors by leveraging communication templates and technology.
- Be proactive in managing tasks, prioritize efficiently, and avoid procrastination.
- Stay updated with industry knowledge, trends, and regulations to ensure high-quality service.
- Maintain a positive attitude, remain resilient, and effectively handle challenges in property management.
- Implement a structured tenant screening process to find reliable, responsible tenants.
The Safety Series: Security Tips for Property Managers (REALTOR® Magazine, Nov. 18, 2024)
“Property managers face a unique set of safety concerns that other real estate pros don’t often need to think about. For example, some of the most potentially fraught moments in a property manager's day-to-day activities include delivering eviction notices to tenants and how to collect rent securely. A strong rental market like today’s can present opportunities for bad actors and make these activities all the more difficult. Host Tracey Hawkins talks to two experts from the “Show-Me” state of Missouri to hear their experiences in the property management field and share actionable safety tips.”
Criminal Acts and Activities: Landlord Liability FAQ (NOLO, May 23, 2023)
“Landlords have some degree of legal responsibility to protect their tenants from assailants, thieves, and fellow tenants. Landlords aren't expected to make their rentals into fortresses. But they are required to take reasonable precautions to protect tenants from criminal activity, warn tenants of known risks, and, when possible, take measures to protect their neighborhood from illegal activities committed by tenants.”
The Ultimate Property Management Guide to Tenant Safety (Valentis, Apr. 15, 2021)
“Every property owner is responsible for the well-being of people on their property. By having the right protections in place, you can absolve yourself of liability, protect your property, and ensure the safety of your tenants, as well as any visitors. There are so many benefits to creating a comprehensive security plan and absolutely no risks associated with this approach. For the safety and security of your property as well as your residents, take the time to create a plan that works for you. When in doubt, a good security team can help you to find the solutions that you need to guarantee everyone’s safety.”
Maintenance
Strategies For Effective Commercial Building Maintenance (Property Manager Insider, Mar. 1, 2024)
- Regular preventive maintenance, including seasonal inspections and repairs, extends the life of commercial building equipment and avoids costly breakdowns.
- Sustainable practices in building maintenance not only contribute to a healthier environment but can also result in cost savings through energy efficiency and potential green tax incentives.
- Asset management software is crucial for tracking maintenance schedules, service histories, warranties, and ensures compliance with regulations to prevent fines or legal issues.
- Customized maintenance programs tailored to the specific needs of each property enhance operational efficiency and ultimately protect the investment value of commercial buildings.
The Work of Landlord Technology: The Fictions of Frictionless Property Management (Society and Space, 2024)
“[From abstract] With a proposition that new forms of material and affective labor are created by landlord technologies despite promises of frictionless living, this article focuses on the various struggles that workers and tenants face in using, maintaining, refusing, and, at times, organizing against property automation. Based upon collaborative research produced with Landlord Tech Watch, as well as ethnographic accounting of housing and labor struggles in New York City and Cluj, this article introduces friction as a critical analytic useful in assessing the uneven, gendered, and racialized labor formations that landlord technologies require and reproduce despite fictions of frictionless living”
The Ultimate Guide to Commercial Property Maintenance (Teletare, 2023)
“Commercial property maintenance is a major consideration for any real estate investor. If you’re going to purchase a property you need to know what your responsibilities will be and have a plan for how you’ll maintain all your assets.”
Leveraging Property Management To Increase The Sale Value Of Commercial Property (Forbes, Nov. 12, 2021)
“An excellent property management company will make adjustments and upgrades to your commercial property that keep it from suffering damage over the years, not only maintaining its value, but raising it.”
Useful Websites
Building Owners and Managers Association (BOMA) International
A primary source of information on office building development, leasing, building operating costs, energy consumption patterns, local and national building codes, legislation, occupancy statistics and technological developments
With an emphasis on executive profiles and industry and economic data, Commercial Property Executive also includes reports covering finance, sustainability, technology, property management, education and legal and regulatory issues.
IREM: Institute of Real Estate Management
The only professional real estate management association serving both the multi-family and commercial real estate sectors. IREM is an international organization that serves as an advocate on issues affecting the real estate management industry. IREM offers the Certified Property Manager (CPM) designation and Accredited Commercial Manager (ACoM) certification
SIOR: Society of Industrial and Office Realtors®
The leading professional commercial and industrial real estate association with more than 3,200 members in 20 countries. SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists. SIOR offers the SIOR designation
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
The ABCs of Property Management (eBook)
The Real Estate Property Management Guide (eBook)
Commercial Real Estate Investing (eBook)
The Complete Idiot's Guide to Success as a Property Manager (eBook)
The Economics of Commercial Property Markets (eBook)
Happy About Apartment Management (eBook)
Facilities Management: Managing Maintenance for Buildings and Facilities (eBook) E
The Landlord’s Kit (eBook)
Landlord's Legal Kit for Dummies (eBook)
Opportunities in Property Management Careers (eBook)
Principles of Real Estate Management (eBook)
Property Management Kit for Dummies (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Commercial Property Management Answer Book (New York: Vendome Group, 2008) HD 1394 C73
Managing and Leasing Commercial Properties (New York: John Wiley & Sons, 2007) HD 1394 AL2ma
Shopping Center Management and Leasing (Chicago: Institute of Real Estate Management, 2005) HF 5429 In7sc
Spotlight on Security for Real Estate Managers (Chicago: Institute of Real Estate Management, 2005) HD 1394 In7o
Glossary of Real Estate Management Terms (Chicago: Institute of Real Estate Management, 2003) HD 1365 In7g
Office Building Management (Chicago: Institute of Real Estate Management, 2002) HD 1394 I2
The Tenant Retention Solution: A Revolutionary Approach to Commercial Real Estate Management (Chicago: Institute of Real Estate Management, 1995) HD 1394 In8
The Resident Retention Revolution (Chicago: Institute of Real Estate Management, 1994) HD 1394 In8r
Managing Your Maintenance Programs: A Guide to Implementing Cost-Effective Plans for Properties (Chicago: Institute of Real Estate Management, 2010) HD 1394 In7my
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