Receive Pro Tips & Insider Knowledge On How To Successfully Build Your Real Estate Empire

Commercial real estate

6 Important Maintenance Tips For Profitable Commercial Real Estate

Written By: Mike Johnston

Whether you own a smaller rental space or even a more extensive retail or office complex, the maintenance of your commercial property is one of the most critical aspects you should make sure to track. Apart from ensuring the property is up to date with current safety regulations–a well-maintained commercial space is also more likely to attract interest among renters, while preventing any large-scale issues from occurring in the future. If you wish to make your commercial property more profitable through regular maintenance, here are some crucial tips you should consider:

Prioritize preventative maintenance

Preventative maintenance– or preparing for potential maintenance problems before they occur– should be your number one priority. Preventive maintenance can easily be done by creating a specific schedule for regular inspection, whether weekly, monthly or even seasonally–depending on the needs of your commercial property. For instance: safety checks of security and backup generators are always necessary and should be done weekly–while pipe inspections can wait to be done before winter to ensure they can handle the colder temperatures. 

Although preventative maintenance might seem like a considerable investment at first, it will allow you to prevent issues or detect problems early on–helping to save money on expensive repairs in the long run.

Attempt to make repairs yourself

Regarding the more minor maintenance issues such as broken switches, faucets, and doorknobs–you can expect such problems to arise quite frequently. And since they are so common, they tend to accumulate into larger and more noticeable expenses. However, these smaller issues are also among the easiest to remedy and can effortlessly be resolved using your resources. 

So, if you don’t have developed DIY skills, it would be wise to set aside some time to learn a few home improvement methods and tricks. Repairing these more minor issues by yourself could help you save a significant sum on unnecessary hired labor.

Check the property for leaks

Water leaks could potentially be among the most troublesome maintenance issues you can face as a property owner. They are notoriously difficult to identify in their early stages and could often cause hundreds, if not thousands of dollars of damage. 

For this reason–including regular roof inspections in your maintenance plan is essential. Finding potential leaks and identifying any design issues early on could help you save a significant sum of money further down the road. It might be wise to hire a professional company to perform regular waterproof membrane testing with accurate and advanced electronic detection systems. They will be able to locate potential holes, voids, and breaches beforehand and keep your roof maintenance costs at a minimum.

Military

Inspect the HVAC system

The HVAC system can be another tricky area to repair once any problems arise. As these systems often extend throughout the entire commercial property–even the smallest issues within the system could require you to knock down walls and go through costly repairs. To that end, performing regular checkups of your HVAC system should be a priority to prevent expensive repairs in the future. 

Preventative HVAC maintenance measures like inspecting and replacing the air filters, examining the AC wires and furnaces, ensuring the thermostats are working properly, or even periodically resetting the entire system–are simple enough that you could do them yourself.

Don’t forget the exterior

While typical commercial property management fees might quickly add up, it’s still essential to maintain the exterior quality of your property to achieve success. A commercial property that is clean, well-kept, and aesthetically pleasing tends to attract and retain customers. For that reason, pressure washing the property regularly could be of great help when it comes to maintaining the appearance of the exterior. 

It may also be a good idea to partner with a maintenance company that will clear litter and bird droppings, sweep the pavement, and take care of green surfaces–thus helping to create the most appealing commercial property curb appeal.

Think beyond the building

Even though it might be simple to only focus on the main building of your commercial property, proper maintenance should include every area of your property–even those aspects that are easily overlooked. Features like parking lots and garages, outbuildings, automatic gates, perimeter fences, and even irrigation systems can all be forgotten. Still, they can also turn out to be quite large expenses when fixing or replacing faulty equipment and systems. 

Your maintenance plan should include these aspects–being checked and maintained regularly– to avoid costly replacements and repairs in the future.

Over to you

Maintaining a commercial property requires plenty of time, effort, and investment. By focusing on the main areas mentioned above, you could easily make this process more manageable and profitable.

About the author: Mike Johnston is an experienced writer, blogger, and editor. He’s a regular contributor to numerous online publications where he writes about real estate, construction, and home improvement.

Kelly Madden

Kelly Madden

Kelly is a 14-year Air Force spouse, real estate agent, real estate investor, and virtual assistant. After starting out as an intern with ADPI in 2019 and later acting as ADPI’s blog coordinator in Jan 2020, Kelly is thrilled and honored to take on the role of ADPI’s new Community Manager as of November 2020. She looks forward to building our community and supporting our members throughout their real estate investing journey.
Kelly Madden

Kelly Madden

Kelly is a 14-year Air Force spouse, real estate agent, real estate investor, and virtual assistant. After starting out as an intern with ADPI in 2019 and later acting as ADPI’s blog coordinator in Jan 2020, Kelly is thrilled and honored to take on the role of ADPI’s new Community Manager as of November 2020. She looks forward to building our community and supporting our members throughout their real estate investing journey.
Share the love
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

Receive Pro Tips & Insider Knowledge On How To Successfully Build Your Real Estate Empire

Team-photo-sidebar

Our team strives to educate, mentor and empower active duty service members, veterans, spouses and military families to reach financial freedom through creating passive income through real estate investing. Our goal is for Active Duty Passive Income (ADPI) members to own as much of America as possible.