If you own property, you will be acutely aware of the challenges of being the property manager. In most cases, you are doing the best you can to keep everything working as usual, so when an emergency repair hits you, your resources, energy and time will be tapped out. Property managers will often defer property maintenance. This is a bad idea since upkeep helps you hold the property value. Proper maintenance of your property is a long-term investment that will pay great dividends in the long haul.
Set Your Priorities
Most companies will put down a list of priorities that focus on the immediate income rather than the investment. Deferring property maintenance is the same as gambling with it. You’re counting on your tenants or leaseholders to put up with poor amenities and infrastructure while you increase your income.
Your priority list then should be balanced between preserving your income and maintaining the property value. There needs to be to be a compromise between these two lists. Invest in routine maintenance such as insulation, siding, gutters and soffit repair and upkeep. Factoring all these in your priority list ensures that the value of your property is preserved.
Emergencies always cause serious problems, from the cost of recovering from them to the frustrations of both the property manager and the tenants. Certain emergencies will naturally jump to the top of your priority meaning that they have to be dealt with immediately without any delay. These are:
- Storm damage
- High wind damage
It is important for property owners and property managers to have a company that is experienced in roofing, siding, carpentry and property management services on call. They should have the tools and skills to tackle every day or emergency situation repairs. Such a company should be dependable and respond quickly to come out to the property for repairs in case of an emergency. This should be the same company tasked with carrying out the regular maintenance and inspection work on the property. Forming a mutually beneficial relationship with such a company is crucial to preserving the value of your property.
It is also important that the company you partner with has 24-hour service so that whether you face a tree that has fallen on your roof or a serious overnight leak, they can quickly respond to do the necessary repair. Such a company will help reduce downtime on your property and appease your leaseholders.
Perhaps the easiest and cost conscience way of lessening the risk of water leaks, storm damage and other problems on your building is to do regular preventive maintenance. This cannot be emphasized enough: prevention is better than cure.
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High Performance Restoration LLC
6500 Preston Rd #201
Frisco, TX 75034