FRATZKE COMMERCIAL PROPERTY MANAGEMENT SERVICES OFFERS THESE QUICK TIPS! Why Commercial Property Management is Important.
Commercial property maintenance is more than just a routine task that must be done to keep your asset in good shape. It can also be a true value-add opportunity when executed efficiently.
Taking proactive steps to maximize the return on investment (ROI) through effective maintenance strategies is essential to increasing cash flow and asset appreciation over time. It’s one of the best tips for securing the financial future of your investment. Partnering with Fratzke Commercial Property Management is one of the leading ways to implement maintenance best practices.
Your Asset Needs Regular Maintenance Inspections
Regular maintenance inspections are essential to manage and address small-scale issues developing in your asset. These minor issues, such as leaks, can quickly balloon into larger and more costly problems. Staying on top of the building’s state and amenities’ functionality is essential as wear and tear, damage, and safety hazards develop.
Follow the best practice guidelines of major systems such as the HVAC and pay attention to integral infrastructures such as plumbing. A yearly check for major systems is recommended in most cases.
Some areas for consideration when undertaking a maintenance inspection include:
- Reviewing the building’s façade and exterior for cracks and leaks
- Check lighting, parking lot, and signs
- Inspect the landscaping for overgrowth or dead limbs
- Check electrical systems for functionality, circuit breakers, and safety best practices
- Test and maintain fire extinguishers, exit signs, emergency doors, and accessibility of staircases
- Check security gates, fences, and locks
- Service elevators, escalators, and industry-specific machinery
Additionally, it’s essential to have an understanding of who is responsible for the maintenance of what when finding issues in common areas or mixed-use spaces. Is this a Landlord repair or a Tenant repair? Is this part of the CAM? Is this expense billable to Tenants?
Preventative Maintenance Reduces Costs
It’s essential to error on the side of caution and regularly service major systems and high-use areas. Consider things like water removal systems or roof drains that can clog up quickly and cause water issues, pest control, small cracks, filters in air systems, smoke detectors, fire suppression systems and elevators to name a few.
Some of the key areas of preventative maintenance include:
- Ensuring the tenants are abiding by the lease agreement
- Properly maintaining HVAC systems and other systems
- Washing windows and checking for cracks or leaks
- Replacing worn parts or mechanisms before they break
- Partnering with specialists for annual checks and maintenance
Partner With Service Providers
Having a team of trusted and expert service providers such as HVAC specialists, plumbers, and electricians means major systems (especially those integral to safety) will be maintained to the highest quality standard.
One of the best ways to access reliable and experienced service providers is to work with experienced Commercial property managers. For example, Fratzke Commercial Property Management Services maintain ongoing relations with expert vendors who understand buildings in the Central Oregon area and how to keep them in excellent condition.
Use Effective Communication Channels for Tenants to Report Issues
Offering effective communication channels means tenants can report issues efficiently. Using platforms that best serve tenants and in which they can upload images and write descriptions is the best approach.
Always encourage tenants to report issues quickly and effectively. If tenants are in doubt that an “issue” is really something to report, they should still lodge a request to address the issue.
Keep Your Properties “On Trend”
As the market changes and tenants’ needs shift, it is essential to make positive upgrades that impact the attractiveness and functionality of the space for tenants. Consider the future real estate and what tenants may value in the medium to long term.
Excellent Commercial Property Maintenance Is Critical to Investing Success
Commercial Property maintenance is a central strategy for longevity, financial success, and appreciation. Unfortunately, it can also be a time-consuming and document-heavy process. Thankfully, Fratzke Commercial Property Management Services in Bend, Oregon are experienced in maintenance and up-to-date with the latest trends for buildings in the area.
Our experts at Fratzke Commercial Property Management understand the importance of commercial property maintenance best practices. Connect with our team to learn more about how we keep buildings in top condition! Click here to connect with our Team