Do you own a number of commercial investments? If you do then you’ll know that maintenance plays a huge role in the upkeep and functionality of any asset. After all, no property is going to clean up after themselves. You’ll need to take care of them in order for them to last, to increase in value and to remain useful.
That’s why we took it upon ourselves to gather a list of do’s and don’ts to maintaining commercial investments. Here, take a look and learn a thing or two.
Do service even the smallest of issues. Every problem starts small so you better act on it while it’s still manageable. A slight crack on the bathroom tile may seem purely cosmetic but if you let it be, you’re allowing water to seep through and weaken the foundations. Never underestimate seemingly miniscule issues. After all, it’s fairly easier to solve problems at the onset.
Don’t forget to run safety checks. Some issues don’t present themselves or become visible until later on. That is when they’ve come to their worst point. To better avoid such situations, running safety checks and inspections will do a lot of good. Plus, this shall also further confirm that your building or property is still serviceable.
Do integrate preventive measures. As the old adage goes, prevention is better than cure. Maintenance is not just about fixing problems. It also involves preventing them from ever happening. Various aspects such as upgrades and renovations form part of this effort. Plus considering the fact that you’re dealing with a commercial property, it’s bound to house more valuable assets which you’ll want to safeguard at all costs.
Don’t go with the amateurs. When having work done, see to it that you call in the professionals. Don’t cut on your costs and sacrifice quality in the process. It’ll do you so much harm than good and you’ll regret it later.
Do incorporate your costs to your budget. Expect repair and maintenance expenses to be there. They are after all ongoing costs meaning that they are to be expected on the regular for as long as you retain ownership of the commercial property. Putting it in your budget shall also make it feel less of a burden as it is planned.
Don’t experiment without knowing. Maintaining commercial investments should be done with absolute care and caution. You need to know what you’re doing. You simply cannot afford to experiment and commit a mistake. There’s too much at stake.