Did you know that commercial property vacancy rates in Topeka, KS, are at their lowest this 2023? They're below 10% across all size categories. Of these, small business parks perform the best, with a vacancy rate of less than 1%!
As a commercial property owner yourself, that low vacancy rate is what you should aim for. With regular and timely property maintenance and repairs, you'll be a step closer to that goal.
Here's what you need to know about caring for your property to help you keep occupancy rates high.
Building Facade
In a recent poll, 75% of U.S. homeowners said having an impeccable-looking home exterior or yard is crucial. Many buyers now even prioritize curb appeal when house hunting!
That makes building facade maintenance vital, even to commercial properties in Topeka. Keeping its exterior clean and free of defects is a must to attract and retain tenants.
To keep tenants happy, ensure you perform the following regularly:
- Clean and power-wash the facade
- Check for and repair window air and water leaks
- Inspect for and fix exterior wall cracks
Alternatively, you can hire a property management company to help with those tasks. These experts partner with highly qualified contractors and vendors. Together, they'll ensure your building's facade is always attractive and in top shape.
Landscaping and Pest Control
Experts say professional landscaping can boost property prices by 15% to 20% at resale. After all, landscaping encompasses the exterior area around a property. Thus, it accounts for a massive share of curb appeal.
However, improperly maintained landscaping can lead to issues like pest infestations. And once on your property, these critters can find ways to enter your building.
Keep that from happening by scheduling lawn care services once or twice monthly. You should also get pest control services quarterly or every other month.
To make things even easier, partner with a full-service property management company. As with building facades, these experts can also handle landscaping and pest control.
Integral Systems
These include heating, ventilation, air conditioning (HVAC), plumbing, electrical, and roofing systems. Problems with these can affect your tenants' physical and mental health and safety.
For example, a lack of HVAC, plumbing, and roofing maintenance can lead to poor indoor air quality (IAQ). Experts, in turn, link the latter to productivity, lung, and heart issues.
Defective electrical systems can be dangerous and pose fire hazards, too. They can also cause shock injuries.
Don't let any of that happen; schedule these systems for seasonal maintenance. You can also have a property management company take over their upkeep.
Never Delay Property Maintenance and Repairs
As a landlord, it is your legal and moral duty to provide tenants with a safe environment. Otherwise, you might find yourself in legal trouble or, at the very least, face high vacancy rates. Prevent that from happening by scheduling regular and timely property maintenance and repairs.
If you need help managing your commercial properties in Topeka, KS, PMI Advisory Group is here to help. Call us today to learn what we can do to help you maximize your investments!
