Times are tough in a lot of areas of the real estate business right now, and it can be tempting for landlords or property managers to start cutting corners. However, it’s definitely not the time to skimp on commercial property maintenance! Good maintenance makes the difference between an excellent property that still attracts residents… and everyone else.
However, this goes beyond simply attracting tenants. In many cases, investments into commercial property maintenance can lower your costs and improve profits. When every dollar counts, smart spending can really pay off.
Four Types of Commercial Property Maintenance Can Improve Your Bottom Line
- Extermination
Pest control should always be in the budget! Don’t wait for residents to complain. As the saying goes, if you can see one cockroach, ten more are hiding in the walls. You should proactively employ extermination services at least once or twice a year to ensure your property is as pest-free as possible.
Otherwise, if an infestation breaks out, it can be extremely difficult – and expensive – to bring under control, while creating new liability issues and driving residents away.
- Remodeling
In many cases, updating the features of your properties can be highly beneficial. Older installations, such as old carpets or rickety windows, can be dangerous to residents. Also, modern upgrades are excellent for attracting new tenants or giving existing residents a reason to stay.
- Energy audits
When is the last time you had the insulation checked around your properties? Are all the doors and windows sealing properly? Are any appliances or other electrical systems drawing more power than they should?
Energy audits/inspections are inexpensive and can usually more than pay for themselves by identifying sources of energy waste. Fixing these issues can significantly lower your power bills!
- Safety audits
The safety features around your buildings must be maintained, no matter how much your belt is being tightened. A single injury that can be traced to poor maintenance could bring absolutely ruinous penalties and court proceedings.
Fortunately, this is as cheap as maintenance gets. You can do the audit yourself, or delegate it. Inspect sidewalks for cracks. Check to make sure handrails are solidly attached. Look for any places where a resident might hurt themselves and fix it before there’s trouble.
Get Commercial Property Maintenance with Genesis Construction
Genesis Construction specializes in commercial property maintenance in the Chicagoland area. If it’s been a little too long since you’ve had a property check-up, contact us for help!
