Whether you own a shopping center, office building, restaurant, or retail store, failing to invest in maintenance now will cost you in the long run. As an owner, you want to do your best to ensure your investment is protected.
How to accomplish this: preventative maintenance
In this blog post, we will discuss the benefits of preventative maintenance for your commercial property and take a look at the key components included in a preventative maintenance plan for a commercial property.
What is Preventative Maintenance and How Is It Beneficial?
Preventative maintenance is a carefully designed maintenance plan where maintenance tasks are performed routinely in order to avoid larger, costly fixes down the road. It reduces the number of emergencies by anticipating wear and tear that the grounds, buildings and equipment will undergo. The property grounds, buildings and equipment, should be inspected regularly to note both the unusual and normal wear and tear. Because components start to wear over time, replacing items prior to failure can cost you far less than the potential consequences of failure while in service.
Keep in mind, preventative maintenance of commercial properties requires a thorough knowledge of the property, its needs for preservation, requirements to accomplish the tasks and budgeting to complete them. In other words, look to your property management company. They will be able to put an extensive and effective preventative maintenance plan in place with regular inspections scheduled in advance, so they aren’t overlooked or delayed. This will help sustain property value and extend the life of critical systems.
Preventative maintenance is key to commercial property performance. It not only maximizes return on your investment, but also catches issues proactively and enables you to budget effectively on an ongoing basis. This is why preventative maintenance is one of the most important elements of successful property management.
Preventative Maintenance Plan: The Key Components
Major building systems: HVAC, plumbing and electrical systems can often be the most costly to repair, and inspections should be scheduled according to the manufacturer’s specifications. Special care should be considered during seasonal changes to prevent issues like frozen pipes or clogged air filters that can occur during periods of extreme weather or idle use.
Building and grounds: Roofing, gutters, parking lots/garages and pavement surfaces need to be inspected and cleaned regularly. Repairs to fix loose tiles, fill cracks or remove excess debris not only maintains the health of the building but also prevent accidents and injuries which could incur additional expense and liability to the property owner.
Fire and safety systems: A licensed professional should check fire and safety systems to ensure they are in working order and proper reporting and certifications are maintained. Be sure that you know where the appropriate documentation is kept for easy access. Additionally, inspection certificates and licenses need to be displayed according to state jurisdiction to prevent further penalty.
Note: A preventive maintenance plan should be well defined, of course, but it also needs to be periodically reviewed and adjusted as necessary in order to remain effective.
Final Thoughts
While some owners might not consider preventative maintenance a top priority, the truth is that preventative maintenance, by identifying problems in early stages, will protect your investment from much larger and costly issues in the future. Proper preventative maintenance will help keep your property performing at its peak and extend the life of its critical systems. Remember, preventative maintenance is your best option to succeed long-term. Therefore, a long-term plan is essential for proper upkeep.
