Real Estate

3 Maintenance Tips to Increase the Value of Your Commercial Property

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Commercial real estate comprises buildings and spaces designed to make money and investing into this sector offers many benefits. For instance, commercial properties have higher income potential and higher tax benefits. Moreover, they are flexible, giving you various investment options to explore. Indeed, the pandemic affected the US commercial real estate market, as its dollar volume was 18% less in the year’s first quarter. However, recent trends show that the year’s fourth quarter is off to a great start. So do you want to increase the value of your commercial property? Then these maintenance tips will help. 

  • Do your periodic checks 

Since many people are usually present in a commercial building, ensuring that it is safe makes sense. This makes periodic checks very important and non-negotiable. A periodic check ensures that tenants, vendors, visitors, etc., are comfortable and secure in the building. Issues like faulty smoke detectors, structural cracks, dry rot, loose balcony railings, mold, etc., are all hazards that may go undetected if your periodic checks are not conducted. Fortunately, doing these checks doesn’t have to be difficult. 

For starters, you can hire the services of professional routine inspectors for the best results. These professionals will inspect the grounds and building for leakages, dampness, foundational cracks, etc. They also look out for public safety hazards like loose debris and tiles, so keep this in mind. It’s also crucial that they inspect the fire and safety systems, HVAC systems, plumbing, and electrical systems to determine if they are in good condition. Don’t ignore the inspector’s recommendations to cut costs, as that could be disastrous. 

  • Make sure that your property is presentable 

Appearance creates a lasting first impression, and your property is no exception. If you’re thinking of selling your property, you must ensure that it is presentable. Besides, a well-maintained building and premise are less susceptible to structural damage, so keep this in mind. It is important to take a complete approach when beautifying your property; the interior is just as important as the exterior. To enhance your curb appeal, consider fixing broken window panes and refresh your landscaping. It’s also best to give your building a paint job while ensuring that the parking lot and roofing are in top-notch conditions. 

To achieve a presentable interior, it’s advisable to focus on the lighting, paint job, furniture (if applicable), etc. Floor cleaning and maintenance are also integral to a beautiful interior, so prioritize it. If you need new flooring, you can research where to get epoxy flooring to give your building a sophisticated touch. 

  • Ensure that your property is up-to-code

It’s important for your building to be up-to-code to avoid problems with the law. Although these codes can be a bit complex to understand, you don’t have to be an expert to ensure that your building abides by them. To get started, you should get all the permits needed for your building. You can then get a personal copy of your local building code and familiarize yourself with the common areas of code compliance. 

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