Times are tough for commercial real estate operators as they face numerous macroeconomic factors, including rising interest rates, higher costs and recession. In an article for AZRE magazine, eeCPA CEO Elizabeth Hale details several strategies CRE firms can explore to remain competitive and financially viable in the face of economic uncertainty.

Elizabeth shared tactics such as reevaluating property use to breathe new life into underutilized or undervalued real estate. For example, warehouse and industrial properties are in demand whereas office use is falling.

Other strategies she highlights include seeking new efficiencies, including implementing automated services like rent collection or invoicing and exploring outsourcing to save on critical tasks like accounting, payroll and HR functions. She also notes that CRE firms work with their accountants to explore potential tax-saving strategies such as a cost segregation study that can maximize depreciation deductions and minimize tax burden.

Is your CRE business seeking ways to stay financially viable in the challenging market? The professionals at eeCPA can work with you to evaluate and implement strategies and tactics to not only help you compete through the uncertain climate but set you up for long-term success.

Read Elizabeth’s full article here.