Maintaining Your Property Leads to Tenant Retention and Reduces Financial Losses
Owning commercial property is a major accomplishment and comes with extensive responsibility, especially if you want to protect its value and attract quality, long-term tenants.
Keep reading to discover commercial building upkeep tips that will ultimately save you money.
Apply Commercial Window Tinting to Revitalize Older Windows
Many modern windows come with UV ray protection or security film already built into the glass. But older windows may not have these features. If your commercial building is far from brand new, one way you can invest in maintenance is to apply commercial window tinting.
These window films can block harmful rays from the sun, prevent glass from shattering, and make graffiti easier to clean up. Furthermore, because the right type of tint can cut back on energy use, you’ll recoup the cost of installation in just a few seasons. Your tenants will appreciate the added safety and comfort.
Plan Ahead for Projects
Maintenance professionals know how to track the age and lifespan of equipment like HVAC units, flooring, light fixtures, plumbing, and more. This allows them to plan ahead for repair, refurbishment, or replacement and ensure the budget is accessible to do so.
Commercial building owners can do the same to eliminate any downtime in building usefulness, especially if you rely on your tenants to pay the mortgage on your building.
Don’t Give It The Landlord Special
You may have seen videos online of people mocking what is called “the landlord special,” shoddy maintenance work performed by landlords who put forth little effort. Whether it’s slathering on globs of paint, using duct tape to make a repair, or another subpar maintenance attempt, the landlord special never looks good or lasts long.
By opting for more pristine craftsmanship and care, you’ll help maintain the value of your commercial property and make it appealing to reputable and reliable tenants. (And you won’t end up a laughing stock on TikTok.)
Hire Licensed Experts
Your buddy Billy might know a little about electrical work, but that doesn’t mean he’s the one you want to hire to run wiring or upgrade the breaker box in your building. In fact, to ensure your property meets or exceeds your local building codes, it’s best to hire a licensed and insured expert for work like electrical, plumbing, HVAC, and more. Not only can you feel more assured that they’ve performed quality work, but most professionals will guarantee their work for a set number of years. This means if something goes wrong, you can get it repaired - for free.
Conduct Regular Walkthroughs
The most reliable way to learn the type of maintenance your commercial building needs is to walk through the property yourself on a regular basis. As you go, look for issues that need addressing, such as cracks in the walls, stained ceilings from plumbing or roofing leaks, broken windows, damaged flooring, and more.
Then, make a list and begin prioritizing the repairs based on need, with a particular consideration for health and human safety. For example, if the carpet is stained in one of your buildings, but there also is a plumbing leak, you’ll want to address the plumbing issue first. This will prevent or slow mold growth. Then, you can invest in upgrading or cleaning the carpet, which is not an issue that could worsen over time.
This is not to say that you do not need to make repairs immediately unless they will affect health and human safety. You should make repairs immediately regardless of the problem, but having a prioritization system can help you stay on track and expertly manage each project.
Know Building Code
One of the biggest keys to maintaining a commercial building is to know your city’s building code and stick to it in everything you do.
If not, you could face fines from code enforcement, or worse, have to shut your building down until you can remedy the problem. Both of these could have serious financial consequences for you and your tenants. This includes pulling the required permits for any work you do.
Most cities make their building code available to the public on their city website.
Hire a Property Management Company
If maintaining your commercial building is becoming more of a chore than you initially thought, or if you simply do not have the time to dedicate to its upkeep, consider hiring a property management company to do it for you.
These experts not only are experts in leasing, but they often have full-time maintenance staff that work to ensure your property remains in the same condition in which it started - or better.
Before choosing a company, interview multiple firms to learn more about their philosophy, their fees, and what type of role you’ll need to play in the management process.