Owning a commercial building is no easy job, after all the legal documents and feuds there is still it’s maintenance to consider which not only requires some good elbow grease but is an all-hands-on-deck situation.
There are many scenarios to deliberate upon after buying a commercial plot, from it’s upkeep to successful preservation. It is not a one-man job. However to simplify things for you, here we have compiled 9 essential tips to ensure your building remains in mint condition and generates a hefty profit for you.
1. Take inventory:
Costly renovations that take place annually are quite literally out of the ballpark. Your main idea after purchasing a plot is to keep its value and generate revenue that can easily cover the expenses. To make things easier:
- Observe woodwork and what needs polishing, sanding, cementing, fixing
- Check out the plumbing to ensure there are no leaks contributing to water wastage
- Calculate energy consumption and install energy savers to minimise waste
Decay is only natural however there are a few effective tips and methods you can implement to all down this process. Never prolong the maintenance procedure as this would only lead to the cracks, quite literally, setting in deep.
- Have your beams and foundations checked regularly to ensure longevity and safety
- Never delay maintenance and always have routine checkups
- Be sure to write down your observations for future comparisons
2. Prioritise Renovations:
Before even thinking about other tasks, make sure to inspect and refurbish everything that is on the verge of spoiling. Get rid of old designs, furniture, lighting systems, and install modern devices to not only maintain functionality but also aesthetic.
Remove all broken glass windows, door handles, and other things that are no longer useful. Make the place clean and presentable to keep your tenants satisfied.
You can give the place a new coat of paint to complete the look!
Or redo it completely if you desire and give it a new makeover!
Pest infestations. The worst nightmare for any commercial landowner. Stay ahead of the game by closely inspecting nook and crannies and spraying pesticides just to be on the safe side. It’s better to remove a few roaches using best control rather than spending hundreds of dollars on proper extermination.
Have a pest audit to take control of any situation regarding the tiny critters. Immediately take action even if you see a handful of insects. Do not ignore it as it will only worsen with time and eat through expensive furniture and damage the property.
This lowering its value.
4. Emergency Exits:
Always have a backup plan and emergency exits planned beforehand in the case of an emergency. Inform the tenants about such plans and create posters to let them remember the map of the emergency exits.
Prioritise inspecting the emergency exits and ducts to ensure there are no hindrances while escaping in the face of danger. Check the locks of all doors and grease them for further efficiency. Make sure it is a clear path with absolutely nothing in between.
5. Fire Hazards:
Such calamities are common in apartments and can contribute to loss in both valuable lives and property. In order to avoid such a hazard always inspect electrical wirings and bulbs before wrapping up your check-in.
Test smoke detectors and replace old batteries with fresh ones to ensure they work properly. Clear all emergency passageways and place fire hazard equipment in convenient, easily- reachable places.
Purchase fire blankets, hydrants and have buckets of soil nearby. You must think of all the possible problems and have their solutions as well. In the case of a fire. Always remain calm and advise your tenants to follow safety precautions.
6. Generators and elevators:
Machines that haven’t been oiled on she’s tend to rust quickly. Schedule weekly rev-ups for generators to have them work efficiently and always check their parts. Replace those that are old and are a hindrance. Oil other parts for smooth working.
Have elevator control rooms checked frequently to ensure all controls are working. Have the lift itself checked. Make sure the emergency alarm inside works. Ensure cleanliness of elevators and caution people to be careful while stepping inside an elevator.
7. Stock up on utilities:
Maintain the quality of your building by always having supplies on hand. Create a checklist of items that have been replenished. Purchase new ones to always stay on top of things and not allow your customers to have something to complain about.
Place toilet rolls, soaps, sanitisers, etc to encourage cleanliness. Lock up the remaining stock.
Be sure to inspect toilets and storage spaces for cleanliness and hygiene maintenance. Appoint staff to clean and dust such placed frequently.
8. Digital Softwares:
There are certain apps and software that can aid you in this task of commercial building management and maintenance. There’s no more lengthy paperwork and flipping through calendars to look for check-in dates.
Such cloud-based software has it all! From tracking staff productivity to having a but-in GPS. You can even track your budgets and costs with most apps. For more interesting information, visit this link here: Building Maintenance Software
9. Inspect Wiring:
The cause of fires is almost always faulty wiring and burnt fuses. Always have an electrician check out the insulating covers on wires and their lead quality to ensure the safety of your tenants.
Have all the heating systems, light systems, radiators, thermostats inspected at least biweekly for any potential breaks in wiring. It is always better to be safe than sorry!
The complete process of purchasing commercial land to creating tenant agreements and regularly inspecting and maintaining it, is not a simple task. It takes effort and responsibility to look after a complete building and maintain it.
From inspecting wirings to devising emergency escape routes, it takes a lot of thinking and working to deal with the many problems that arise.
However, this handy guide may make it easier for you to be ready to tackle any problem with ease and offer solutions in mere minutes!