"Commercial property maintenance is important to stabilize the value. For tiny house communities or RV parks, it even increases the positive experience of the residents as well."

How To Maintain The Value Of Your Commercial Property

Owning a commercial property is usually a hands-on job, and its maintenance should be at the top of the list of your priorities to preserve the building’s value. Your commercial property is prone to wear and tear, and that’s natural. To ensure that you earn profit from the property, you should make routine maintenance steps that should be carried out throughout the year.

Maintaining your commercial building should be routine to avoid costly renovations, which would eat into your profits. When it comes to owning commercial property, the two main objectives are maintaining its value and generating revenue to earn a profit on your investment.

Maintaining the building’s value goes hand in hand with the building’s condition, and if property maintenance is neglected, then the building decreases in value.

Increasing your building’s revenue is related to the tenants who may rent your building for business. The better the property’s state, the higher the tenants’ caliber and the rent they are likely to pay. Here are some of the steps you can take to maintain your commercial building.

Audit your energy consumption

Having an energy audit of your commercial property is essential in establishing where you can decrease your overall costs yearly. You may find that energy costs in your commercial building are one of your biggest overheads. Conducting an energy audit is a critical way to determine what is chewing into your pocket. An energy consultant will overview the whole building and tell you how you can lower the energy costs. Here are a few ideas;

  • Replacing roof insulation
  • Replacing your window glass
  • Repairing insulation around windows and doors
  • Swapping out old light bulbs with the new energy-saving alternatives

During the audit, you will know whether your tenants are happy and comfortable within your property.

Conduct a monthly safety audit

The safety mechanisms and features in your entire commercial building should be one of your top maintenance priorities. In an emergency, the safety fixtures must be working to avoid any accidents and potential lawsuits from your tenants. Emergency exits, emergency lighting systems, fire detector systems, emergency doors, and more safety fixtures should be in tip-top working condition.

Ensure you conduct a monthly audit of these safety mechanisms to ensure they are operating as they should.

Fix your fixtures

Another essential aspect of commercial building maintenance is the upkeep of simple things like fixtures. Leaving damaged fixtures to sit for prolonged periods without repair will only lead to further accidents, losses, and damage to your building.

Damaged fixtures like broken handles, lights, doors, or windows will also leave your building looking shabby. Ensure that you replace damaged fixtures as and when they happen to avoid a backlog of maintenance work and unhappy tenants.

Prioritize remodeling projects

The remodeling of your commercial premises goes a long way in keeping it looking well maintained and modern. After all, it is what your tenants are paying for. It is recommended that you keep your commercial property in the same state as you would your home. If any work needs to be done, it’s best you do it, don’t neglect it.

Repaint peeling and chipping walls and ceilings, replace torn carpets, and repaint the building’s exterior at least once a year or twice to maintain it’s aesthetic look.

Check on pest control.

One of the worst issues you can ever deal with in your commercial property is pest infestation. This can end up with a costly bill to hire exterminators to deal with the issue and also having to vacate your tenants temporarily. Keep in mind even if there has not been a complaint about pests, it’s best to have preventative measures set in case of anything. You can also have pest control come in and check the building thoroughly from time to time to make sure you keep pests at bay.

Eliminate all fire hazards

One of the most devastating things that could destroy your commercial property in an instant is the potential for a fire breakout. The only way to avoid any fire breakouts in your building is to identify all fire hazards and eliminate them. Ensure that you conduct routine checks on all smoke detectors and ensure they are working well. All the batteries will need to be replaced from time to time as well.

Make sure all the fire exit doors are operational, and all the passageways are always kept clear, don’t forget to keep all the doors of your building with fire extinguishers. All the businesses in your building should have access to at least one fire extinguisher.

Ensure your backup generator is running

Stagnant parts in a generator can spell disaster for you. As the parts are usually motionless, air can get into the unit injector and render your generator useless. All your emergency generators need to be started up for at least five minutes every week to fire up the moving parts and keep things alive.

Transfer load testing of the generator can be conducted once a month, while you can carry the scheduled full load test annually.

Inspect alarm and electrical systems

Ensure that all the alarm systems are up to date and have not been compromised in any way. It ensures the safety of the building and of your tenants too.

Electrical faults play a major role in the cause of fire breakouts in most commercial buildings. Using a professional to inspect your wiring appliances and breakers through the entire building must be made a priority at least once every year.

Check the HVAC systems.

In the winter and summer seasons, air conditioning and heating systems are essential to your tenants’ comfort. As a result, your HVAC works overtime during these two months and could easily burn out. Ensure that it is checked every month to avoid any downtime.

Filter inspection or replacement will ensure your HVAC system works at its best. Don’t forget to check the HVAC thermostats as well and ensure they are in working order.

These simple routine maintenance tips will ensure that your building maintains its value and keep you earning from your investment.

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About the Author
Stephanie McQueen
Stephanie McQueen
Stephanie is the content curator and resource hoarder of all things tiny houses. She believes everyone can live a sustainable lifestyle, no matter the size of your house. Connect with Stephanie through LinkedIn or her done-for-you branding agency, Employed By Life Online.
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