Monday, July 16, 2012

Commercial Property Managers - Maintenance Management Tips

commercial property manager tied up in cables
Get control of maintenance

When it comes to the services provided by commercial and retail property agents, a specialist maintenance management program forms part of the property management services for clients.

The maintenance management program can become a significant point of difference in servicing property management properties of all types.  The program does however need to recognize the differences between industrial, office, and retail properties.  Checklists and systems can be specifically designed for each property type and general location.

These are the key objectives of the maintenance management program in a commercial property management agency:

  • Adherence to the instructions of the landlord client in implementing property maintenance.
  • The provision of timely responses to normal property failure and break down
  • The establishment of a workable tenant communication process to report and control maintenance failures
  • The management of costs associated with maintenance of all types
  • The provision of emergency responses in times of urgent property failure or breakdown
  • The provision of immediate maintenance response where the potential of personal injury or tenant injury is likely or possible

Given that most commercial and retail properties are complex, the property managers chosen for the task of interacting with tenants and landlord clients should not only be experienced, but also committed to a high level of response and service.  Property management is a unique service provided by commercial agents.

Here are some strategies to incorporate into a maintenance management program in your agency or real estate office:

  1. The instructions of the landlord should be fully understood when it comes to their particular property.  They will require a certain levels of communication and controls when it comes to maintenance, leases, tenants, and property responses.
  2. The maintenance associated with each property should be broken down into items of general maintenance verses major maintenance.  Costs should be established or estimated in each case for the purposes of the building budget.
  3. Items of major and minor plant and equipment in each property should be identified and logged.  Talk to the contractor's responsible for plant maintenance to identify any threats to property performance and plant operation.  A major plant failure can impact the occupancy and rent for a property.  In older properties, the plant and equipment should be carefully maintained to prevent that very problem.  Brief the landlord on any challenges that exist.
  4. Talk to the contractors in the building to establish that the plant and equipment is being maintained to current mechanical and building codes applicable to the property.  Non compliance could force property closure and removal of the property occupancy certificate.
  5. A budget for the property can be established to integrate timed and planned maintenance into the cash flow coming from the property and the tenant mix.

These are some of the key factors to incorporate into a property maintenance management program.  The agency can develop a comprehensive program that becomes part of a highly professional property management service.  Over time this can help you grow your management portfolio and your potential fees from established clients.

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