- Conduct regular inspections to identify potential issues and hire a professional inspector.
- Invest in preventive maintenance to improve the property’s longevity, such as adding polyurea coatings and replacing old windows and doors.
- Keep the property clean by hiring commercial cleaning services.
- Install security features like CCTV cameras, entry-phone systems, and motion sensors.
- Get insurance coverage to protect your physical assets and business interruption.
Maintaining a strong and durable commercial property is one of the most important aspects of running a successful business. Regardless of whether you own or rent your property, you can take several key steps to ensure its longevity and protect it against wear and tear.
Here are some essential tips on how to keep your commercial property looking and functioning at its best.
Conduct Regular Inspections
Regular inspections are essential for identifying potential issues before they become big problems. Schedule routine checks of your property’s plumbing, electrical systems, heating and cooling, and roofing. It’s a good idea to hire a professional inspector to thoroughly review the property at least once a year.
When looking for a professional inspector, choose one who is experienced and certified in commercial property inspection. This ensures that any potential problems are quickly identified and can be addressed immediately.
Invest in Preventive Maintenance
In addition to routine inspections, you should also invest in preventive maintenance. Arrange for regular servicing of all major systems, including HVAC, elevators, and security systems. You may also want to invest in preventive maintenance that will add value to the property. Here are some examples:
Invest in Water Damage Protection
Water damage can be costly, so it’s important to take preventative action. Consider installing waterproofing membranes or applying polyurea coatings to surfaces and structures prone to moisture damage.
Polyurea coatings are spray-applied elastomeric coating that protects from water, UV radiation, and temperature extremes. The best part is that it requires no special maintenance once applied.
Replace Old Windows and Doors
Old windows and doors can be a significant source of energy loss. Replacing them with more efficient models can help reduce your utility bills while improving the comfort of your property’s interior. Look for windows and doors rated for energy efficiency, such as those with Low-E coatings or double-paned glass.
Keep it Clean
A clean facility is essential for creating a safe and professional environment for your employees and customers. To achieve this, hire commercial cleaning services specializing in cleaning commercial properties to ensure a thorough cleaning. Regular cleaning will help preserve your property’s condition while improving indoor air quality– a big plus for everyone who works inside the building.
Secure the Property
Protecting your property against unwanted visitors is essential. Installing security features like CCTV cameras, entry-phone systems, and motion sensors can help you deter burglars while keeping your employees and clients safe and secure. Intruders avoid well-secured properties, so invest in security equipment and use signs that show the building is under surveillance.
Get Insurance Coverage
While general liability insurance helps cover damages caused by your business actions, it’s not enough to protect your physical property. That’s where commercial property insurance comes in. Please read below to understand commercial property insurance, why you need it, and how to choose the right coverage for your property.
What is commercial property insurance?
Commercial property insurance protects your physical assets, including but not limited to the building, equipment, and inventory. It covers damages caused by various risks, such as fire, weather events, theft, and vandalism. The coverage can also extend to business interruption, compensating for lost income when temporarily closing your business due to a covered event.
How do you choose the right coverage for your property?
Choosing the right coverage depends on several factors, such as the type of property, the location, the size, and the value of the property. A good starting point is to assess the risks associated with your property, such as the likelihood of natural disasters or theft.
Another factor to consider is the replacement cost of the property, which is the cost of rebuilding or replacing the damaged or destroyed property. It would be best if you also decided on the level of deductible, which is the amount you pay out of pocket before the insurance coverage kicks in. A higher deductible may lower your premium and increase your financial risk.
The Bottom Line
Keeping a solid and durable commercial property protects your bottom line. Stick to a routine schedule of inspections and maintenance, invest in a clean environment, and provide the proper security and insurance coverage — all these measures will help you keep your property looking and functioning at its best. Protecting your property is also an investment in your business, so don’t delay implementing these essential tips today.