Managing a commercial property comes with a series of challenges including complying with safety regulations and keeping on top of all maintenance tasks. However, both of these tasks help to attract business, which is the aim of the game. If you don’t maintain the property and anyone suffers an accident, the legal fees will significantly outweigh the cost of ongoing preventative maintenance.
Check Alarm Systems and Electrical Wiring
Fires are one of the most devastating events for any commercial property, and recovery can leave owners with no choice but to cut their losses. Therefore, you have to take every measure to reduce the likelihood of fires. For example, you should routinely check the electric wiring by having an expert conduct a series of checks. As well as this, you’ll need to ensure all alarms are checked regularly, whether this is completed by yourself or the tenant.
Complete an Energy Audit
Energy bills are one of the highest overheads for a commercial property manager, which is why you should find effective ways to lower consumption. An efficient way to do this is by having an energy audit carried out by a professional, who will look at your current position and offer ways to improve. For example, you may not have enough insulation, your lights may benefit from being switched to LED, or your window panels are letting too much heat escape.
Repair Fixtures Straight Away
Whether you find a defect or a tenant reports one, it’s your responsibility to make sure it’s dealt with straight away. Even though the repair will cost money, leaving it to get worse will only make matters more dangerous and costly.
Remember External Maintenance
When you’re carrying out property maintenance, remember the external areas are just as important – if not more so. After all, if the outside of your building looks like a hazardous shamble, customers aren’t going to visit, and you’ll be out of pocket. As well as keeping the building maintained, you’ll have to check areas like the parking lot, which could have cracked surfaces. If this is the case, make sure you have an advance asphalt repair carried out straight away. Additionally, you should take the opportunity to have the lines resprayed, which will make parking safer.
Prioritize Remodeling Jobs
Your commercial property will need to adapt to shifting social and economic trends, which is why you’ll need to perform regular remodeling tasks. For example, in 2023, your tenants may benefit from having a series of smart devices installed. However, you likely won’t be able to afford them all at once, which is why you must learn how to prioritize.
The best way to make sure your property meets current standards is to ask what you’d expect in your home, and act accordingly. For example, you wouldn’t be satisfied if the front door didn’t quite work, or the paint was peeling off in your living room. Simple and inexpensive tasks that make the property look great or feel more secure should come first, and then larger irrelevant tasks can be completed afterward.
Have the HVAC System Inspected
Any business renting your property will enjoy using the building when the temperature is appropriately regulated. Therefore, you should put some time aside to ensure the HVAC and other cooling systems are well maintained. For example, you can swap the filter, clean the vents, examine the thermostat, or re-balance the system’s pressure. Alongside regular maintenance, you should have it checked by a professional at least once a year.
Conduct Monthly Safety Audits
Health and safety need to be your top concern as a commercial property manager, so make sure you remain compliant by carrying out monthly safety audits. These tests should make sure all emergency signage is visible, all fire alarms work, every fire extinguisher functions, and emergency lighting is working. If you come across any issues during the audit, make a record of it and then get it fixed straight away.
Keep Accurate Maintenance Records
Carrying out maintenance tasks is all well and good, but you need to have a way to prove the checks and tasks have been completed. If you ever get audited or need to provide evidence in a legal matter, you’ll be asked for a copy of relevant documentation. The best way to do this is by creating a series of checklists or using a commercial maintenance tracking tool.
Commercial property owners have a lot of responsibility to ensure business owners and visitors are kept safe and the site looks appealing. If you integrate the above into your workflow, you’ll see a boost in revenue and avoid lawsuits for negligence.