The Importance of Regular Maintenance in Commercial Property Management

Your property won’t be worth much if it starts falling apart.

Of all the responsibilities that walk hand in hand with real estate management, maintenance is easily one of the most crucial. Regular upkeep of your property is the foundation upon which the value of that property is built, and influences everything from tenant retention to your reputation as a landlord.

Here are a few reasons why commercial property maintenance is so important, and why you should take it seriously.

 

A Maintained & Increased Commercial Property Value

As mentioned above, value is the cornerstone of why regular property maintenance is a must. It goes without saying that a well-tended property is more appealing to tenants and buyers; addressing issues with timely inspections and effective fixes will increase the likelihood that current tenants will stay and new tenants will move in.

Keeping your property in good shape will also add to its value over time. By dealing with maintenance issues before they become bigger problems and ensuring that your property is continuously updated, you make renting more attractive to potential tenants. The more attractive and valuable your property becomes, the more of an edge you’ll have against the competition in your area.

 

Improved Safety & Security

Keeping your tenants safe should always be a priority, and regular property maintenance plays a big role in retaining that safety. Remember to test any security features on your property, including cameras, alarms, smoke detectors and fire-suppression systems. Outdoor floodlights and indoor “Exit” signs should always functional, and your building’s plumbing and electrical systems should receive regular checks to make sure everything is working properly.

 

Ensured Compliance with Regulations

Regular property maintenance is about more than just caring for tenants. There are also local laws and regulations that need to be taken into consideration, and this compliance connects directly to how you maintain and update your real estate. If you neglect any legally required maintenance, you may be faced with legal issues and a damaged reputation.

Remember to keep up to date on local, state and federal regulations that affect how your property functions. Have regular inspections performed to ensure that every code and standard is met, and proactively address any deficiencies to avoid penalties.

 

Prevent Repairs & Downtime

The longer you wait to repair something, the more likely it is to cause extra problems down the line. Putting off repairs to your roof or an electrical checkup might save you some stress in the short term, but when the roof starts to leak and your electrical system begins to malfunction, you’ll find yourself wishing you’d dealt with those issues earlier.

Dealing with property maintenance in a timely manner will save you money, prevent downtime and – depending on the repairs in question – may help you avoid legal problems. The more comprehensive your maintenance checks are, the more likely you’ll be to find issues and fix them before they balloon out of control.

 

Enhanced Tenant Experiences & Retention

In the end, the greatest beneficiaries of a property maintenance plan are your tenants. If they feel they’re being cared for and enjoy their space, they’ll be less likely to leave. More tenants will see the appeal of your property, and the quality of those tenants will directly reflect the effort and upkeep you put into your maintenance efforts.

When your tenants feel safe, comfortable and cared for in their space, they usually feel no pressing desire to pack up and leave. And when you combine this benefit with an increase in property value and the headaches you’ll be spared in the legal, downtime and security departments, it’s clear that routine property maintenance should always be on the top of your priority list.

Looking for a partner to help you address your property maintenance needs? The experts at DRK will guide you, answer your questions and help you make the most of your real estate venture.

Take a look at our commercial property maintenance services right here, and scout commercial real estate available in the Columbus, Ohio, area here.

Until next time,

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