Regular building maintenance doesn't just preserve your property's foundational structure. It also boosts curb appeal and decreases the impacts of depreciation.
Topeka landlords who invest in commercial property maintenance can generate more passive income. There are several ways to indulge in commercial real estate care, including:
- Discussing maintenance with property management professionals
- Engaging in proactive maintenance strategies
- Getting property inspections frequently
- Keeping diligent and detailed maintenance records
Read on to learn how to reap the benefits of facility maintenance solutions.
1. Talk With Property Management Experts
Property managers will tell you how much your Topeka rental unit is worth. They'll come and study it in person before taking notes on its features and characteristics. After that, you'll get a property valuation report that details:
- How much your property is currently worth
- How much income it can generate for you
- Whether it's worth renting out or whether you should sell it
- What renovations and upgrades can improve its value
This includes ways that you can optimize your property with quality maintenance. Experts will give you insight based on current real estate trends and the demands of renters and buyers. This lets you know what maintenance efforts to focus on.
2. Stay On Top of Preventative Maintenance
The best landlords clean every area of your property between tenants. Deep cleaning ensures sanitation and safety. It gets rid of hazards like mold and chemical damage.
Preventative commercial property maintenance also includes:
- Replacing locks
- Fixing broken windows
- Painting walls and patching up holes
- Changing carpeting and hardwood floors
- Ensuring that plumbing works properly
- Maintaining HVAC systems
- Fixing elevators
- Optimizing fire safety systems
By being proactive, you can extend your commercial property lifespan and get more rental income.
3. Get Regular Inspections
The best Kansas landlords stay on top of their maintenance at all times. Commercial real estate care requires routine property inspections. Inspectors will ensure that:
- You comply with state and local regulations
- The building stays within zoning restrictions
- Your property is safe for people to conduct business in
- You maximize your rental income
This will prevent fines and penalties from local authorities.
4. Document Maintenance Activities
It's important that you keep accurate records of all maintenance that your commercial building undergoes. This includes documenting:
- Inspection reports
- History of building repairs
- Preventative maintenance measures you take
- Equipment servicing records
- Who performed repairs and renovations
You'll be able to prove that you took proper maintenance measures to commercial building authorities. You can also see who performed what updates and call them if there's a problem with their work.
Documenting maintenance also makes maintenance cost reduction and budgeting easier. You can see how much you've spent on maintenance activities. This lets you know how much to allocate in the future.
Prioritize Commercial Property Maintenance
Now that you know some ways to better conduct commercial property maintenance, it's time to get some insights into your specific building.
PMI Advisory Group is excited to offer property management tips and building upkeep strategies to commercial landlords across Topeka. Get a free rental valuation to learn how you can get more passive income from your rental unit!
