What are the most effective strategies for maintaining commercial property over time?

Commercial property maintenance is not only essential for preserving the value and functionality of your asset, but also for attracting and retaining tenants, complying with regulations, and reducing operational costs. However, maintaining commercial property can be challenging, especially if you have multiple properties, diverse tenant needs, and complex systems. In this article, we will share some of the most effective strategies for maintaining commercial property over time, based on our experience and best practices in the industry.

1 Plan ahead

One of the key strategies for maintaining commercial property is to plan ahead and anticipate potential issues, risks, and opportunities. This means having a clear vision and goals for your property, conducting regular inspections and audits, and creating a preventive maintenance schedule and budget. Planning ahead also involves staying updated on market trends, tenant preferences, and regulatory changes, and adapting your property accordingly. By planning ahead, you can avoid costly repairs, disputes, and vacancies, and enhance your property's performance and appeal.

Add your perspective

Mary Jane Doyle

Senior Director Property Management/Programs @ JLL | MBA
Report contribution
Trust is the biggest thing to develop in commercial property management. Whether it is with your executive stakeholders, clients or tenants, you must be a trusted resource to be able to recommend maintenance solutions. Consistency is also an important factor in maintaining buildings. Preventative maintenance must be completed consistently. Assets need to be replaced at the appropriate time. We have all seen the consequences of not following these practices with run down buildings, dreary interiors and unsafe environments. Consistency is critical. And of course budget. Owners will spend the money on repair and maintenance one way or the other. It is better to be proactive and include the required maintenance dollars in the annual budget.

Like
Ahmad Turki, ARM®, ACoM®, PCM®

Accredited Residential Manager® | Accredited Commercial Manager® | M100 Certified | Professional Certified Marketer® | ADVETI Certified Real Estate Broker | Co-Founder Housez.ae
Report contribution
Conduct routine inspections to identify issues early. Create a scheduled maintenance plan for various systems (HVAC, plumbing, electrical, etc.) to prevent unexpected failures.

Like

2 Communicate well

Another important strategy for maintaining commercial property is to communicate well with your tenants, contractors, and stakeholders. Communication is vital for building trust, understanding expectations, and resolving problems. You should communicate regularly with your tenants to get feedback, inform them of any maintenance activities, and address any concerns or requests. You should also communicate clearly with your contractors to ensure quality, safety, and efficiency of the work. Additionally, you should communicate effectively with your stakeholders, such as owners, investors, or lenders, to report on your property's condition, performance, and value.

Add your perspective

Ahmad Turki, ARM®, ACoM®, PCM®

Accredited Residential Manager® | Accredited Commercial Manager® | M100 Certified | Professional Certified Marketer® | ADVETI Certified Real Estate Broker | Co-Founder Housez.ae
Report contribution
Maintain open communication with tenants. Encourage them to report issues promptly and address their concerns efficiently to ensure the property remains well-maintained.

Like

3 Invest wisely

A third strategy for maintaining commercial property is to invest wisely in upgrades, improvements, and innovations that can add value, functionality, and sustainability to your property. Investing wisely means prioritizing the most urgent and impactful projects, such as repairing structural damages, replacing outdated systems, or enhancing security and accessibility. It also means considering the long-term benefits and costs of the projects, such as energy savings, tenant satisfaction, or marketability. Furthermore, it means exploring new technologies and solutions that can optimize your property's operations, such as smart sensors, automation, or green features.

Add your perspective

4 Delegate effectively

A fourth strategy for maintaining commercial property is to delegate effectively some of the tasks and responsibilities to qualified and reliable professionals. Delegating effectively means outsourcing the services and functions that are beyond your expertise, capacity, or interest, such as landscaping, cleaning, or accounting. It also means hiring and managing the right contractors, vendors, and consultants who can deliver the best results for your property. Additionally, it means empowering and training your staff, such as property managers, maintenance technicians, or leasing agents, to perform their roles efficiently and effectively.

Add your perspective

5 Monitor and evaluate

A fifth strategy for maintaining commercial property is to monitor and evaluate your property's performance and condition on a regular basis. Monitoring and evaluating means collecting and analyzing data and information on various aspects of your property, such as occupancy, revenue, expenses, tenant satisfaction, or environmental impact. It also means comparing your property's performance and condition with your goals, standards, and benchmarks, and identifying any gaps, issues, or opportunities. Furthermore, it means taking action and making adjustments based on your findings and feedback, and measuring the outcomes and impacts of your actions.

Add your perspective

Ahmad Turki, ARM®, ACoM®, PCM®

Accredited Residential Manager® | Accredited Commercial Manager® | M100 Certified | Professional Certified Marketer® | ADVETI Certified Real Estate Broker | Co-Founder Housez.ae
Report contribution
Stay abreast of market trends and changes in tenant preferences. Adapt the property to meet current and future market demands to maintain its competitiveness.

Like

6 Learn and improve

A sixth and final strategy for maintaining commercial property is to learn and improve from your experiences, successes, and failures. Learning and improving means staying curious and open-minded about new ideas, trends, and best practices in the industry, and applying them to your property. It also means seeking and accepting constructive criticism and advice from your tenants, contractors, stakeholders, and peers, and using them to improve your property. Additionally, it means celebrating and rewarding your achievements and milestones, and recognizing and overcoming your challenges and mistakes.

Add your perspective

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

Add your perspective

What are the most effective strategies for maintaining commercial property over time?

1

2

3

4

5

6

7

1 Plan ahead

2 Communicate well

3 Invest wisely

4 Delegate effectively

5 Monitor and evaluate

6 Learn and improve

7 Here’s what else to consider

Commercial Leasing

Rate this article

Thanks for your feedback

More articles on Commercial Leasing

More relevant reading

What are the most effective strategies for maintaining commercial property over time?

1

2

3

4

5

6

7

1 Plan ahead

2 Communicate well

3 Invest wisely

4 Delegate effectively

5 Monitor and evaluate

6 Learn and improve

7 Here’s what else to consider

Commercial Leasing

Rate this article

Thanks for your feedback

Explore Other Skills