Owning commercial property is a significant investment, and maintaining it is key to protecting its value and appeal. When you understand the essentials of good commercial property maintenance, you can maximize the value of this asset for your business.
There are literally hundreds of best practices you can follow and implement when it comes to commercial property maintenance. However, here are five overarching concepts that you should follow right away.
- Conduct Regular Inspections
Regular inspections are the cornerstone of effective commercial property maintenance. These inspections can identify potential issues before they escalate into serious problems, saving you money and time in the long run. It’s a good idea – a necessity, really – to schedule routine checks for the structure, roofing, plumbing, electrical systems, HVAC units, and other critical areas of your property. During these inspections, check for signs of wear and tear, damage, or malfunctioning equipment.
Once issues are identified, prioritize and execute repairs promptly. Don’t put them off even for a few weeks, as delaying repairs can lead to more significant damage and increase the cost and complexity.
For example, if left unattended, a small leak in the roof can lead to water damage, mold growth, and structural issues that are far more expensive to remediate than the initial repair would have been. By working with a commercial roofing contractor to keep your roof in tip-top shape, you can avoid serious issues that could expose your business to costly issues like closures or delays.
- Maintain Common Areas and Amenities
Common areas and amenities significantly impact the overall perception and value of your commercial property. These areas, whether lobbies, hallways, restrooms, or outdoor spaces, should be clean, well-lit, and in good repair. Regular cleaning, updating lighting fixtures, and repairing any damage quickly creates a much more positive vibe for tenants, employees, and even visitors.
If your property includes amenities like conference rooms or fitness centers, make sure they’re fully functional and well-maintained. These features can be a significant draw for current and potential tenants. If they’re well cared for, it can positively impact lease rates and property value.
- Invest in Upkeep
The exterior of your commercial property is the first thing tenants and visitors see, making it a critical element of property maintenance. Invest in professional landscaping services to keep the outdoor areas tidy and appealing. Regular mowing, trimming, weeding, and planting can transform the exterior into a welcoming and attractive space.
Additionally, pay attention to the building’s facade, signage, parking areas, and walkways. These should be clean and in good repair. The exterior of your building should also be well-lit to enhance safety and curb appeal. Periodic power washing, painting, and repair work are all regular activities that should be prioritized on your property.
- Focus on Preventive Maintenance
Preventive maintenance involves taking proactive steps to preserve the condition of your property and prevent equipment failures. In other words, you proactively address things before they become major issues. This approach extends the lifespan of the building’s systems and components and offers substantial cost savings by avoiding major repairs and replacements. With this in mind, develop a preventive maintenance schedule that includes regular servicing of HVAC systems, elevators, fire safety equipment, and other critical infrastructure.
- Address Issues Quickly
Maintaining open communication with your tenants is so important. They can provide firsthand insights into the day-to-day functioning of the property and report issues that may not be immediately apparent during routine inspections. Do your best to establish a straightforward process for tenants to report maintenance issues and ensure these are addressed promptly and effectively.
Yes, responding quickly to tenant concerns prevents minor issues from becoming major problems. But it also builds trust and satisfaction, which can lead to longer lease terms and lower turnover rates.
Master Property Maintenance
If there’s one thing that can make or break your commercial property investment, it’s the overall condition and upkeep. Neglecting upkeep might seem like the less expensive thing in the short-term, but it leads to long-term stress and complications. The more proactive you are on a regular basis, the better your ROI will be over the long haul. Following these five tips is a great place to start.
