Data shows that the vast majority of people make assumptions within 15 seconds of meeting a person – or viewing a property. No matter how well-positioned or well-located a commercial property is, a property in disrepair will leave potential buyers, tenants, and visitors with a negative first impression.
The professional image of your commercial property is key to retaining and increasing its value. Why? Because every square foot of your commercial project deserves proper maintenance and attention, no matter the property type, size, occupancy, or vacancy rate.
To better understand the effect of property maintenance on value, it is important to review maintenance basics.
All commercial real estate occupants, including tenants, employees and owners, enjoy clean workspaces, functioning plumbing, and reliable HVAC. These basic maintenance items allow occupants and visitors an enjoyable experience and increase overall productivity. A dirty restroom or an out of order elevator does not leave a good impression on the occupant – or the market.
What services should be on every property maintenance list?
Physical Plant Maintenance
- Grounds maintenance – including graffiti removal & pressure washing key focal points
- Waste disposal & recycling removal
- Landscape maintenance
- Lighting services – including replacement and repair
- HVAC maintenance
- Roof maintenance
- Plumbing inspections & repair
- Janitorial service – including restroom & common area maintenance
- Painting services – including touch-ups
- Interior & exterior window maintenance
- Parking lot & walkways maintenance – including re-stripping and resealing
- Electrical repair & testing
There can also be additional services required dependent on the project, ownership objectives, and occupancy requirements.
Additional services:
- Elevator maintenance
- Security
- Tenant signage coordination
- After hours response
- Remediation services
- Safety policies & procedures
- Towing
Because all properties have different requirements, it is essential to have policies and procedures in place to ensure that the right vendors are chosen to perform the right services. Specialized vendors have the expertise, certifications, and equipment to perform the job right.
It is particularly important that all types of commercial property are clean and safe, and that both maintenance vendors and property managers respond promptly to property and tenant requests. The large, interior space, high ceilings, and complicated equipment often present in industrial space require a special level of maintenance. Many times, industrial properties operate 24/7. Therefore, it is paramount to contract with the right service provider who is not only available, but able to perform the service while allowing business operations to run uninterrupted.
Another area to consider is tenant maintenance. Tenant move-in and move-out can not only leave dust and debris, but can lead to greater maintenance issues that must be dealt with quickly, thoroughly, and efficiently. Commercial property managers have key organizational skills that are essential in managing the wide range of details involved in these processes.
Tenant Maintenance Items:
- Construction of landlord / tenant interior improvements
- Building shell repairs – including door hardware & signage
- Window cleaning – interior & exterior
- Repainting or touch-ups
- Carpet cleaning
- Complete maintenance check on all systems – electrical, plumbing, HVAC, etc.
Get it Done Right
It takes time to ensure maintenance issues and service providers are properly managed, and time is precious. By contracting with a professional commercial property management firm, property owners are assured that all service providers have been interviewed, have provided detailed scopes of work, and have the necessary skills, experience, and certifications.
Kevin Tagle, Vice President of Meissner Jacquét Commercial Real Estate Services, says that “clients rely on our property management team to perform due diligence when it comes to vendor selection. We have a verified process for identifying top service providers, and ensuring the budget is maintained.” Lesson learned – a thorough maintenance plan can increase property value.</>
Sources:
BOMA International
FacilitiesNet
Meissner Jacquét Commercial Real Estate Services