Property Management
Commercial Property Management in Worcester, MA
You own it.
We run it.
Full-service commercial property management across Worcester County. Rent collection, tenant calls, vendors, budgets, and an owner statement that reconciles every month.
Lornell Real Estate provides commercial property management in Worcester, MA and across Worcester County. We run your income property day to day on your behalf: collecting rent, handling tenant requests, hiring and supervising vendors, paying the operating bills, reconciling CAM, and reporting the numbers to you every month. We manage retail, industrial, office, flex, and multifamily property, with coverage that extends into northern Rhode Island.
We are a local shop, not a regional call center. The person who answers your tenant's call in February is the same person who walked your roof in October.
"The cheapest repair is the one you catch on a walkthrough. Most of the big capital bills I have seen started as a small leak nobody reported." - Todd Lornell, Principal and Founder, Lornell Real Estate
That is the job as we see it: eyes on the building, money handled cleanly, and an owner statement that reconciles every month, so you never need a phone call to know where you stand.
What You Hand Off
One Number to Call
Your tenants call us, not you. No regional call center, no ticket sitting open for a week.
Rent In, Bills Paid
We collect, chase what is late, pay the operating bills, and send you one statement a month.
Eyes on the Building
We walk the property on a schedule. Small problems get fixed before they turn into capital.
Day to Day
Day-to-day operations
Heat goes out on a Saturday. A tenant backs into a bollard. The plow contractor misses the back corner of the lot. That is the job, and the calls come to us, not you. Your tenants get one number to call and a person who answers, not a voicemail box and not a ticket sitting open for a week.
We work from a bench of vendors we have used before for HVAC, plumbing, electrical, landscaping, and snow, so after-hours problems get a vendor we have used, not a name pulled from a search result. Every request is logged: what was reported, when, what we did, and when it closed. You can see all of it, and we tell you what happened before you hear it from the tenant.
No regional call center and no rotating cast. The same people learn your building's quirks, like which unit's heat runs hot and where the roof ponds after a nor'easter. That memory is most of what you are paying for.
An emergency line a person answers, not a voicemail box.
Vendors we already use for HVAC, plumbing, electrical, landscaping, and snow.
Every request logged so you can see what was reported and when it was closed out.
The Money
Financial reporting that reconciles
You should not need a phone call with us to know where your building stands. Every month, on the same schedule, you get the rent roll, the operating statement with variance against the budget, and the bank reconciliation, in a format your accountant can work from at year end.
We collect the rent and chase what is late, pay the operating bills from the property account, and send you one statement. CAM and escalations are reconciled annually and billed on time, not eighteen months late, which is how landlords quietly lose money they are owed. We build the annual budget with you, including an honest look at what the building needs in capital over the next few years, so there is a plan instead of a surprise.
Clean books pay off again when you refinance or sell. Organized financials shorten diligence and help defend your price.
Rent roll and operating statement every month, with variance against the budget.
CAM and escalations reconciled annually and billed on time, not eighteen months late.
An annual budget built with you, including what the building needs in capital over the next few years.
Management Proposal
Send us the rent roll. Get a scope and a fee.
Tell us the address, share the rent roll if you have it, and say what is not working today. We read it, walk the building, and come back with a written scope and a fee.
The Building
Maintenance & capital planning
Maintenance is cheaper than replacement. Roofs, rooftop units, and pavement fail slowly and then all at once, and the gap between a minor repair and a capital replacement is usually a stretch when nobody was looking. We inspect on a schedule, keep a photo record of what we find, and bring you options with real numbers before something forces the decision for you.
Maintained equipment lasts longer, and documented maintenance protects you in a sale. When major work is needed, you get the bids, our recommendation, and the reasoning behind it in writing.
Todd's walkthrough rule above runs the whole program. Small leaks get reported.
Scheduled walkthroughs with photos and a punch list you actually receive.
Preventive service contracts on rooftop units, fire protection, and elevators where they apply.
Three bids on major work with our recommendation and the reasoning behind it.
Fees
What it costs, and when you don't need us
How the fee is written
Management fees are usually written one of two ways: a percentage of the rent actually collected, which fits multi-tenant buildings, or a flat monthly fee, which often makes more sense for a single-tenant building with a simple lease. What moves the number is tenant count, building condition, and how much of the operating burden your leases leave with the landlord. Leasing commissions and construction management on capital projects are separate line items, never buried in the management fee.
We quote after we read the rent roll and walk the building, not before. Anyone who prices your management sight unseen is guessing, and you pay for the guess later.
When you don't need us
If a credit tenant handles its own maintenance and pays taxes and insurance directly under a true NNN lease, there may not be enough work to justify a fee.
Management earns its keep when you live out of state, when the lease leaves roof, structure, or parking lot with the landlord, when the tenant does not self-perform, or when you own several buildings and the small tasks add up.
We will tell you when we think you do not need us. We would rather have that conversation than take on an assignment that does not fit.
One Firm
One team across leasing, sales, and management
Having the same firm manage, lease, and sell your building has one real advantage: information. When we already manage the property, we know the rent roll, the tenant history, and the condition of the mechanical systems, so a renewal or a sale starts from real data instead of a two-week document chase.
Leasing
Our leasing team knows which tenants are solid because management deals with them every month.
Leasing AdvisorySales
We can speak to actual operating history, and a buyer's diligence moves faster on organized books and documented maintenance.
Investment SalesFees in Writing
The management fee, leasing commissions, and sale commissions are agreed separately and disclosed up front, so you never wonder how we are paid on any piece of the work.
Coverage
Where we work
We manage commercial property across Worcester County, northern Rhode Island including Burrillville, and select assignments in Connecticut. In Worcester County that includes Worcester, Spencer, Southbridge, Auburn, Leicester, Webster, and Oxford.
Common Questions
Commercial Property Management FAQ
A commercial property manager runs an income property day to day on the owner's behalf. That means collecting rent and chasing what is late, taking tenant maintenance requests, hiring and supervising vendors, paying operating bills, reconciling common area maintenance charges, building and tracking an annual budget, and reporting results to the owner every month. Lornell Real Estate manages retail, industrial, office, flex, and multifamily property across Worcester County and Central Massachusetts.
Commercial management fees are usually written one of two ways: a percentage of the rent actually collected, which is common for multi-tenant buildings, or a flat monthly fee, which often makes more sense for a single-tenant building with a simple lease. What moves the number is tenant count, building condition, and how much of the operating burden the leases put on the landlord. Leasing commissions and construction management on capital projects are normally separate line items, not part of the management fee. We quote after we read the rent roll and walk the building, not before.
We manage retail centers and storefronts, industrial and warehouse buildings, office buildings, flex and mixed-use property, and multifamily. Our coverage runs across Worcester County, including Worcester, Spencer, Southbridge, Auburn, Leicester, Webster, and Oxford, and into Burrillville, Rhode Island.
Often you do not. If a credit tenant handles its own maintenance and pays taxes and insurance directly, there may not be enough work to justify a fee. Management starts to earn its keep when you live out of state, when the lease leaves roof, structure, or parking lot with the landlord, when the tenant does not self-perform, or when you own several buildings and the small tasks add up. We will tell you when we think you do not need us.
Yes, and it is usually the better arrangement. When we already manage the building we know the rent roll, the tenant history, and the condition of the mechanical systems, so renewals and dispositions start from real information instead of a data request. Leasing commissions and sale commissions are agreed separately and disclosed up front so there is no question about how we are paid.
Cleanly, with notice, and with the paperwork in order. A proper transition includes a full records handoff (leases, rent rolls, vendor contracts, keys, and access), a letter to every tenant with the new contact information and where to send rent, and a final accounting from the outgoing manager. Talk to us before you send a termination notice. The outgoing manager's cooperation decides how smooth the handoff goes, and we handle that relationship professionally.
Four things. First, the fee basis and exactly what it excludes, since leasing, construction management, and capital project oversight are often billed separately. Second, the term and termination provisions, because you want a clean exit, not a hostage clause. Third, the reporting cadence and which reports you will receive. Fourth, who holds the operating funds and how they are accounted for. Read the exclusions harder than the fee, because that is where the surprises are.
Hand It Off
Tell us about the building.
Send the address, the rent roll if you have it handy, and what is not working today. We will come back with a scope and a fee.
Send Us a Message
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