One of the most rewarding businesses is owning Commercial or Residential Realestate that can offer cash flow month after month, year after year. The challenges, however, is turnover, empty properties, unpaid rents and difficulty getting the rent value you need to run a profitable property.Here are 3 mistakes commercial and residential investors need to avoid:1. The lease agreements are often outdated and miss vital information that can void the term. If the lease documents you are using are over 3 years old, it may be time to reevaluate them and if you just accept the information your tenant provides you without the proper background checks, it may be time to revamp your process.2. Many landlords undervalue their property and tend to undercharge either the square footage or the CAM. It is vital that you have your property value evaluated every year so you can stay competitive in the market.3. Often property owners don't act fast enough when rent payments are overdue. It is vital to know if the tenant communication start immediately, that you understand why you aren't receiving payment and take appropriate action to ensure you don't end up with squatters infaltrating your properties.Many times property owners and their tenants communication is strained and unproductive. Often the solution is to have a mediator that handles all the challenges and situations so the property owner and tenant relationship stays in tact.If you own property and are trying to juggle all the "jobs" that it takes to manage the property, or you have help, but they just aren't delivering on the service you expect and need, we should have a conversation. Whether or not we decide to do business together, I am confident our call will be full of insights that can help you get a better handle on your rental properties.Please email: Halyna@WGPropertyManagement.com or call 215.805.6777.