A thorough preventative maintenance schedule is essential to ensure the longevity of the investment and minimize expensive emergency maintenance. Preventative maintenance begins with periodic inspections by management. Landscaping, pest control, and other routine maintenance is the next step in maintaining a sound investment property. Oftentimes tenants are responsible for certain aspects of maintenance; however it is important for landlords and their management team to verify and ensure services are being performed. Cleary defining responsibilities in the Lease Agreement protects the landlord from liability.
Like clockwork, various aspects of commercial property need to be maintained on a schedule. Adhering to the recommended intervals for attending to these items preserves the building and may delay the need for major repairs.
When something breaks or does not work as it should, it is imperative to schedule repairs in a timely manner. The roof and major systems should be inspected systematically and repaired or replaced as needed. If any additional major issues arise, they should be addressed to prevent additional damage and maintain the safety and value of the commercial property.
Even with adequate preparation, emergencies do occur. However, if your management team has a plan in place, the emergency may not become a crisis. Water, fire, and severe weather can cause major damages, but being prepared to respond and address emergencies can significantly minimize costs and recovery times.