As commercial property vacancy rates in Douglas County continue to rise, landlords are scrambling to attract and keep tenants in this competitive market. The good news is that it isn't difficult to keep tenants in your commercial buildings if you can get the basics right.
Commercial property maintenance is key to keeping your tenants happy while preserving the value of your property. It allows you to charge higher rents and makes it easier to replace tenants if your current ones move on.
Keep reading for essential tips on managing maintenance and repairs to boost your commercial property's appeal in Parker, CO.
Plan for Maintenance and Repairs
Unexpected repairs are par for the course when you're a landlord. Setting up a fund for commercial property repair costs will help lessen the financial blow in these instances and help you avoid further damage to your property.
Likewise, careful maintenance planning can help you stick within your budget. There are two types of maintenance involved in your building's upkeep:
Preventive Maintenance
Preventive maintenance refers to regular tasks that help prevent expensive repairs and replacements later. These may include:
- Safety equipment servicing
- HVAC servicing
- Roof inspections
Preventive maintenance includes seasonal tasks and annual checks, so it's easy to plan for them and spread the related costs throughout the year.
Routine Maintenance
Routine maintenance includes daily and weekly activities that preserve the safety of the work environment, e.g., cleaning and trash removal.
In many instances, your tenants are responsible for these aspects of commercial property maintenance, as they're part of OSHA's housekeeping requirements.
Conduct Frequent Property Inspections
Property inspections are vital for pinpointing maintenance issues to avoid future repairs. They're also a good way to check if your tenants are complying with their maintenance obligations.
Set up a checklist to ensure you don't miss anything on these visits and stick to it as you work through the building. These are some of the most important items to include on your list:
- Checking for plumbing leaks
- Safety equipment tests
- Inspecting electrical equipment
- Looking for cracks or leaks in walls, doors, and windows
- Checking for signs of water damage
Use Property Management Software
The latest property management systems help streamline property maintenance tasks for commercial landlords. This software allows you to:
- Set up maintenance calendars
- Keep track of maintenance tasks
- Monitor costs
They usually include an online tenant portal where tenants can upload maintenance and repair requests. This helps streamline the process and ensure prompt attention to these matters.
We Make Commercial Property Maintenance Easy
Effective commercial property maintenance is key to attracting and retaining tenants in a competitive rental environment, but it takes time and hard work to get it right. Hiring a property manager helps alleviate the stress associated with commercial building maintenance planning and coordination.
PMI Parker is a full-service property management company located in Parker, Colorado. Our experienced team offers a full range of commercial and residential services to help landlords cope with the challenges of owning investment properties.
We use the latest technologies to manage maintenance and repairs, preserve your commercial property value, and ensure ongoing profits. Discover how we can help you gain peace of mind when it comes to your Parker, CO, commercial properties.
