The Struggles of Retail Property Management in Salt Lake City around the Holidays
Many people love the holidays, and for good reason. Food, friends, family, and festivities: what’s not to love? But for retail property owners, the holidays can be a scary time—particularly investors who aren’t working with a real property management company in Utah.
Major Challenges of Retail Salt Lake City Property Management During Shopping Season
- More traffic as customers head to stores. In general, more traffic is a great thing for you and your tenants, but it also means more wear and tear on your property, and an increase in shopping-adjacent issues like accidents and theft.
- Increased competition. A little healthy competition is usually a good thing in the marketplace. It drives innovation and helps prices self-regulate. But Christmas is a crucial season for many retailers, and if your location is getting outperformed by comparable buildings downtown, it could have your tenants rethinking their leases and looking to move.
- Unexpected expenses. Anyone who has watched a Black Friday compilation video on YouTube might not be surprised to hear that the Christmas season can bring with it increased expenses for things like security, facility repairs, and parking lot maintenance.
- Online Shopping. As the holiday battle between brick-and-mortar retail and online shopping rages on year by year, some businesses are pivoting to do both.
Getting Help with Salt Lake City Property Management for Retail Investors
Without a reputable and responsive Salt Lake City property management company on your side, a relaxing Christmas with the family can become an expensive nightmare. Luckily, an investor can avoid many different issues by working with a qualified Utah property management company like LB Hunt of Salt Lake City. LB Hunt offers customizable, highly responsive property management solutions for Utah owners of retail, commercial, industrial, and multi-unit residential locations.