Property Management & Engineering Services in Washington, DC
Our Nation’s Capital is not just a city of politicians. Instead, it comprises a diversified mix of civil servants, attorneys, lobbyists, scientists, policy analysts, publishers, and other professionals. Not to be left out are restaurant workers, bankers, bakers, dentists, and artists. These examples represent only a small sample of those who earn a living in the Washington, DC region. Significantly, all of these workers need quality and dependable space to successfully complete their tasks and live their lives. The good news is that commercial and retail properties abound in this area, with no shortage of high-value options. Better still, property management companies in Washington, DC optimize those sites for landlords and tenants to contribute to the productivity of the workers. Since 2007, Edge has been performing this function to the supreme satisfaction of its clients.
One Size Never Fits All
Diverse Properties Demand Diverse Approaches
Each retail, office, and warehouse/industrial building has its own purpose and specific requirements. But a major fundamental reason why investors and owners enter the commercial real estate industry is to possess an income-producing asset that builds value over the long term. What follows is the need to make the balance of rents to inputs tip in favor of the former. This is where the particulars of each building come into play. For example, an apartment lease is exceedingly different than an agreement to rent retail or commercial office space. Not only are the legal relationships distinct, but the financial and physical investments of these holdings also diverge. Edge recognizes that there is no one-size-fits-all method for property management in Washington, DC.
A Resource for Landlords
Edge views property management as a comprehensive and synergistic effort involving many disciplines. This means providing clients the benefit of decades of collective team knowledge and experience. We regularly counsel clients regarding market trends and movements, emerging opportunities, tenant interests and relationship dynamics, ways to heighten demand for what a property offers, and troubleshooting unforeseen challenges. We routinely audit operating expenses to discover and implement greater efficiencies, as well as regularly review leases to identify legal exposure and financial disincentives. Edge also provides consultation and guidance on the design of additions and new buildings.
Resources for Tenants
Effective commercial property management in Washington, DC mandates a thorough understanding of tenant issues. After all, how can a landlord retain tenants without understanding their mission and obligations? This is why Edge seeks to partner alongside tenants by providing information and direction. Just as a landlord wants to receive value from an asset, so too does a tenant. Companies of all sizes seek to utilize space to create, serve and profit. How to best optimize the square footage available according to the budget is among the solutions we offer commercial occupants. These unit dwellers do best when conducting business with their clients, rather than sacrificing large swaths of time on real estate issues.
Safe and Legal
Commercial property management companies in Washington, DC are asked to do more than maintain a physical plant and collect rents. A myriad of liability issues impacts property owners, as do regulations and ordinances imposed at every level of government. Local building codes and federal energy use rules must be attended to by the landlords at the risk of fines and penalties. Meanwhile, insurance must be adequate and up-to-date to protect against any claims and actions filed in court, as well as physical damage and destruction that can befall a building. Code compliance and regular insurance review are crucial responsibilities of superior property management in Washington, DC. Edge pays close attention to construction codes, safety ordinances, and zoning rules to protect clients against loss or forfeiture. Likewise, we monitor current insurance policies, premiums, and customer service to assure financial inputs are cost-effective.
Brick And Mortar
Property management begins with the careful stewardship of the asset and surrounding real estate. With an experienced staff of engineers, Edge creates and executes thorough economic strategies relative to building and grounds maintenance. Not only do we attend to keeping things clean and operational, but we also negotiate with the vendors who make that happen consistently. Our team also regularly surveys each property to discover where energy can be conserved, without the addition of burdensome expenditures.
The best property management companies maintain an eye on the future on behalf of their clients. Even a spacious multifamily apartment building or functional industrial space can decline in value as market conditions change and, market conditions can change virtually overnight. Capital improvements may provide the path to a higher value. Edge experts are seasoned and experienced in overseeing plans and designs, setting a budget, qualifying contractors, and maintaining the work schedule. Above all, Edge makes recommendations regarding expansion and upgrades according to what best improves the property’s marketability and tenant pool. Nobody benefits from a modernized, enhanced building with numerous vacancies.
Watching the Bottom Line
Like its clients, Edge measures commercial property value in terms of revenue. The COVID-19 pandemic demonstrated how even the most iconic buildings in the greatest American cities can empty out in only a few days. While Edge does not predict global market disruptions, our company does strive to make sure our property owners can better weather them without significant and sustained losses.
Effective accounting begins with identifying areas of potential savings. All over the United States, landlords lose money by carrying mortgages with unfavorable terms, failing to take advantage of tax breaks, paying for expensive repairs due to a lack of preventive maintenance, and worst of all, experiencing high tenant turnover. Edge takes a critical look at the costs to bring them down.
Past Clients & Testimonials
MIKE SIMMONS
Principal Director of Acquisitions,
Stewart Investment Partners
As an operator with institutional financial partners, strong accounting and reporting is a must. The Edge team consistently produces for us, with on-time, accurate reports and attentiveness to those urgent needs that always surface on short notice. That, combined with knowledgeable and reliable engineering, and professional management top to bottom, has been our Edge experience.
JOHN KRAEG
Chief Financial Officer,
Haleakala Ranch
We are a Hawaii Corporation and Edge manages our DC – Maryland properties, which are on the far side of the mainland for us. Therefore, having dependable and timely “full-service” professional property management is important for us; especially during Covid. We get this level of expertise and service from Edge.
MARLENE SWAN
Investment Manager,
Aetna Real Estate Investments
We have a long and successful relationship with the partners at Edge and hired their team to help us turn around two of our very challenging REO’s in the DC Area. Their flexibility and drive to succeed is absolutely one of our best partners in the country.
Areas We Serve in the Washington Metropolitan Area
Virginia
Arlington – Alexandria – Sterling – Ashburn – Fairfax (Springfield) – Reston/Herndon – Chantilly – Manassas – Woodbridge
Maryland
Silver Spring – Wheaton – Hyattsville – Rockville – Gaithersburg – Beltsville – Frederick – Lanham – Bowie
Contact Us
Frequently Asked Questions
That is a two-part answer. First, property management companies typically do as much or as little as their clients require of them. Secondly, a group will perform tasks based on the capacity of its workforce. Property management typically conjures up images of cleaning, repairs, rent collection, and maybe even advertising available units. However, Edge goes beyond rental property management to make offices, retail, and industrial spaces perform better for our clients, as well as increase employee productivity and well-being. That is why we dig into the accounting ledgers, lease terms, mortgage rates, and vendor receipts, among other figures, to make income stronger against expenses.
Even the most conservative investments carry an element of risk. Yet, adding to or renovating a building makes good financial sense if, for example, demographic trends point to increasing demands from businesses for sufficient square footage, as well as the aesthetics of a Class ‘A” property. Moreover, such works extend the usefulness and health of the property, making its resale value even more robust. Clients can trust that Edge only recommends capital projects that are financially logical for the property owner, at present, and in the future.
The local tax assessors in DC, Maryland, and Virginia will surely raise taxes on expanded or otherwise enhanced buildings and land. The key to decision-making in this regard is to gauge the overall market value of the units against the higher tax liability. When the rental units command higher remittances, the tax burden can be absorbed, while the income can still increase. All of that, of course, depends on careful evaluation, planning, accounting, and reporting. For example, Edge renovated three older properties in Maryland because their HVAC systems were aging and in need of replacement. This was money well spent in terms of tenant retention, and its impact on taxes was modest and easily absorbed.
Keeping spaces functional, conforming to all applicable building and construction codes, repairing and replacing failing systems, painting internally and externally, and replacing locks and general landscaping are all core functions of property management professionals. When the value is high, sometimes construction management is included among these duties. Edge staff engineers oversee all of these tasks and more. Working out plans for emergency evacuations and fire responses, keeping track of energy usage and implementing greater efficiencies, value engineering to assure high performance of systems and equipment at a smaller level of investment, and supervising contractors at various sites are all responsibilities assumed by the engineers at Edge.
Our engineers thoroughly understand construction principles, from bidding and design to building and inspection. They review all capital construction proposals, along with cost estimates, while applying strict professional criteria to those contractors that seek to win the jobs. Hands-on but never meddlesome, Edge engineers require accountability from construction firms but also respect their expertise. In this way, they represent the best our firm has to offer. Edge recently expanded its pool of engineering professionals for several sites in Virginia.
When markets are volatile and the costs of turnover become cumbersome, owners will appreciate the concept of tenant retention. Edge recognizes that tenants are the customers of our customers and the lifeblood of real estate investments. Giving advice to and listening to and responding to the concerns of tenants is not a zero-sum game. Instead, it requires actively forging bonds between the landlord and occupants to foster trust and mutual support.
There are several high-end property management firms in metro DC. We respect our colleagues because we know how much hard work and dedication are demanded by our profession. Edge, however, points to its extensive clientele and multiple success stories to perform our sales and marketing for us. The scope and thoroughness of our management activities speak for themselves, according to our satisfied customers and others we regularly work with. Learn more about us at our website.