Commercial property ownership is a big undertaking. There are a lot of factors to consider when operating and maintaining a commercial property, whether you’re leasing it out or purchasing it for your business. Commercial property includes sites such as retail and office spaces, business parks, and storage facilities. It also includes service buildings, such as auto repair and warehouses.
Owners of commercial properties must also take care of the building itself, inside and out. This includes collecting rent, drafting rental agreements, keeping records, and managing other aspects. It can be difficult to manage all of this, so many owners hire a property manager. The owner is ultimately responsible for maintaining the property’s safety, appearance, and functionality. Knowing your space is one of the things you can do to stay on top. Understanding the needs of the home and how various systems, such as electrical and plumbing, work is important.
Routine inspections are necessary to make sure that nothing needs repair or poses a danger. A proactive maintenance plan should include pest control, painting, and professional inspections every year. It will help to keep things running smoothly and reduce the need for costly repairs. This blog can help you get started. It contains ten things every business owner needs to know about managing property.
1. Maintenance of the Air Conditioning System
If you own a commercial business, such as a restaurant or warehouse, it is important that the air conditioner does not fail on a hot summer day. This can lead to irritated employees and may even drive away business, which will cost you money. It’s important to hire commercial air conditioning service providers for regular maintenance and inspections.
A technician will come to your location and ensure that everything is working correctly. The technician will do any tune-ups that are needed, such as cleaning or replacing the air filters, cleaning coils, testing the control panels, and sealing leaks in order to make your system more efficient. The tech will make sure that no vents are blocked and check the outside units. They’ll also clean them if they have any dirt or debris.
2. Regular Roof Inspections
The roof is one of the best investments that you can make for your commercial property. A strong roof is essential to the structure and safety of the building. The roof will protect inventory, electrical equipment, and the interior from water damage and mold.
A beautiful roof will improve your business’s aesthetics, regardless of structural considerations. It is important to have a good curb appeal when trying to attract new customers. Consider hiring a commercial roofing service to inspect the roof and determine if repairs are necessary.
It’s a good idea to retain a reliable contractor as part of your team. Roofers can perform routine maintenance and schedule inspections to keep your roof in good condition. They’ll check for loose or missing shingles, cracked skylights or leaks, cracked joints, cracked pipes and chimneys, as well as damage to the eaves and joints. The attic will be checked for mold, odors, and leaks.
Trim trees around your roof and regularly clean gutters and drains. Clear all downspouts and keep them away from your property. This will help keep ice and water off the roof, preventing damage and flooding.
3. Parking Lot Maintenance
Parking lots are important for many reasons. Start with the obvious safety concerns. It is important that your parking lot has flat surfaces without cracks or potholes. You don’t want anyone to trip in your parking lot. Nor do you need people complaining about their damaged car.
Safety also includes having brightly painted parking lines and signs for traffic flow. You will also need to be ADA-compliant – including handicapped parking and ramps, if necessary. You may need to hire a commercial asphalt firm to seal up any cracks or holes in your parking lot to preserve its integrity.
If you have the space, consider planting some shrubs or bushes. This will improve your property’s appearance and also help to drain it. Keep the parking lot neat and clean. Parking lots are often the first impression that someone has of your business. You don’t want them to be dirty.
4. Make Sure Your HVAC System is Up-to-Date
The HVAC system of your commercial building includes everything related to heat, ventilation, and air conditioning. The HVAC system is directly linked to the comfort, climate, and air quality of your building. You need to maintain it because no one wants to read that their building is stuffy, dusty, or blisteringly hot.
You may wish to have a contract with an HVAC company for commercial properties. You will receive priority service if there is an emergency. Regular inspections and maintenance will be scheduled to avoid any problems. A maintenance plan will help you save money compared to calling a repairman randomly when something breaks.
If you have a contract, you may only pay $99 for each visit to the HVAC professional. This is much cheaper than calling 911 if you break something and need immediate assistance. The HVAC technician will recommend upgrades to increase energy efficiency. For example, a Smart thermostat. The HVAC professional will change filters, calibrate thermostats, clean ducts, and inspect the furnace. They may tighten connections, check the ignition and burners, and clean soot, sediment, and radiators while reviewing the furnace.
5. Upgrade Your Bathroom
Bathrooms are important. If your bathrooms aren’t up to scratch, it may be time to upgrade. It doesn’t have to be a total overhaul.
With a few simple projects and the help of commercial plumbing services, you can transform your bathroom from a shabby dungeon into a fragrant oasis. A fresh coat of paint on the walls and some wall décor is a great place to begin. This will create an inviting and warm environment. Then, replace the mirror with a new one and add a colorful backsplash behind the sink.
Consider touchless fixtures. In our germ-conscious society, no one wants to touch soap dispensers, faucets, or tables. These can be installed by commercial plumbing services or sold at a discounted price. Add feminine hygiene and hand lotion to the toilet paper, soap, and other bathroom products. Installing an automatic air freshener will keep the room smelling good.
6. Maintain a Safe Environment
The safety of commercial property is essential to the success of any business. The building should be safe for both employees and customers. It is also your responsibility to safeguard the company’s inventory. Begin with a risk analysis, identify entry points that are weak (doors, Windows), and repair them. Install an alarm system with surveillance cameras both inside and outside.
Consider upgrading access by using key cards or biometric verification. Outdoor motion lights are also effective in deterring burglars. Maintaining the outdoor area is important for the safety of other people. In the winter, you can hire commercial snow removal services to clear the walkways and keep any trees trimmed.
7. Install and Maintain Landscaping
Landscaping can improve the appearance of any commercial building, regardless of its size. Installing shrubs, small trees, and bushes can soften a building, make it more inviting, and improve drainage. If you don’t have the space to plant colorful flowers, then hang them or put them in pots. You can also install window boxes. Get creative by using flowers that match your brand or spell out your name.
Add some hardscaping to your garden by installing benches, paths, or fountains. Keep the area clean and neat. Regular maintenance is easier with commercial lawn care. A commercial landscaper can maintain a schedule for lawn care, trimming, and mowing as well as plant care.
8. Consider Extending the Property
Sometimes, an opportunity to expand your business or commercial property may arise. Maybe a property adjacent to yours or nearby has been put up for sale. Ask yourself how you will use the property and if it is cost-effective. You can build your portfolio and your income over time, but you don’t have to spend a fortune on upgrading a new property.
Begin by having a commercial general contractor inspect the property. They can estimate the entire work, from plumbing to HVAC and electrical. Estimate the cost of operating the property, including taxes and utilities. Compare that to the amount you are able to lease the property at and then make your decision. Extra space gives you the opportunity to provide services related to your original property. It can also give you more parking space, storage space, or even the ability to launch a new business.
9. Upgrade Your Electrical System
If your electrical system doesn’t work, it will affect everything else in your business. If you depend on computers or refrigeration, this could be a disaster for your business. Electricity is essential for businesses like markets, restaurants, and most retailers to protect their inventory and conduct business.
It’s safe to say that if Target’s lights are out and their registers will not open, there won’t be any sales. It’s important to hire a team to inspect the property before purchasing it to make sure that all equipment is current and up to code. Upgrade your circuit box in order to avoid fuses blowing and wire insulation.
It will save you money and prevent accidents. Install dimmer switches or snooze lights that will automatically shut off the lights when not in use. These small upgrades will save you from headaches and expensive bills in the future. These upgrades can be made by commercial electrical contractors in less than one day, so they won’t interrupt your business.
10. Learn About Your Financing Options
You’ll have to decide how you will pay for your commercial property now that you understand what you need to do to maintain it. There are many options available to you as a property or business owner. One of the most popular is a commercial loan. These loans may be easy to get, but you’ll be adding debt and paying interest. If you are unable to pay your banknotes and something happens, your property can be seized.
If you do not qualify for a bank loan or you don’t wish to take one, you can find a person who will give you a loan privately, such as a friend or parent. Consider taking on a couple of investors if neither option works. You will have to share your company with another person and give up a portion of the profits. It could be more profitable, as you will not have to pay bank fees or interest.
Commercial property management is an essential component of any successful business. When planning maintenance or other issues, it’s important to have a team of commercial professionals who can help. You may think that spending money on maintenance is a waste, but it can save you from expensive repairs, lawsuits, and business losses due to poor conditions.
