You’re a commercial property investor, but you want to save money when you maintain your properties. Following a detailed property maintenance schedule on your commercial building will save you in the long run if you follow the tips we highlight below.
If you need to enhance efficiency and savings even more, please consider hiring a skilled property management team.
Energy Efficiency
Electricity prices constantly change, but this expense will always be the most significant part of your building’s budget. If you enhance energy efficiency, you’ll soon see impressive savings.
But the benefits don’t stop at dollars and cents. You probably know that more of the public wants companies to be environmentally responsible. Lowering your building’s energy costs in straightforward ways can give you many PR and marketing advantages, too.
It’s wise to plan your maintenance work, such as putting in new air filters and replacing light bulbs with energy-efficient alternatives, which will ensure that your building will waste less energy and improve your balance sheet.
Asset Lifespan
Every part of a commercial building ages as the months go by. Some parts will wear out faster than others. But no part can be ignored indefinitely.
For instance, the HVAC system gets a lot of use every year and is expensive to fix if you don’t do preventative maintenance.
When you maintain the HVAC system every year, it will save you a lot of money on replacement for years. Also, routine maintenance lets you have a more planned and strategic way to replace or upgrade the equipment in the future.
Planning your maintenance will ensure that the mechanical and structural parts of the building stay clean and run efficiently day in and day out. Also, doing maintenance on schedule can highlight parts that need to be upgraded or replaced to ensure the system runs for years without a hitch.
Better Productivity and Safety
A building where all systems operate at peak efficiency offers the best environment for workers, tenants, and systems. Comfort and safety are vital because they keep people and building components in place so you can continue to run a profitable enterprise.
For your guests and tenants, ensuring safety isn’t just ethical and legal; it affects the satisfaction of people who occupy your building. If you want them to renew their leases, it’s vital to show them that you care about safety.
Lower Maintenance Request Response Time
When something goes awry in your commercial property, cutting response time shows you care about customer services. Pleasing your tenants is an effective way to get them to talk positively about your company.
When you prioritize maintenance requests, you also will improve profitability by addressing problems before they fester and worsen. Also, taking care of maintenance requests as soon as possible can lead to higher profits by encouraging tenants to renew their leases; retaining tenants is always more cost-effective than finding new ones.
Automate Maintenace
If you invest in building or facility maintenance software and systems, you can automate some maintenance, so it is done without a lot of work on your part. Any time you can have a system maintained with less direct human involvement, this constantly improves the balance sheet.
Outsource Building Maintenace
Some building owners have their full-time staff to handle maintenance. But others like to outsource the routine maintenance of their properties to contractors, which can be less expensive over time.
As this article highlights, performing building maintenance consistently and effectively can save you money and improve your bottom line. Hopefully, you’ll continue to invest in regular building maintenance, so you have a successful commercial property company.
