Commercial properties are more than just the piece of real estate and the structure that you see. It is a large financial investment and will bring in a lot of income for over decades. If you have invested in a large commercial property than you will know by now that its potential to generate income will be directly determined by a number of factors like those of the location of the building, the type of the building, and the overall appearance and the condition of the building structure. You may not be able to control where exactly your building is located or even how the building is designed (maybe you bought it or inherited it?) but you definitely have a say in the overall condition and the appearance of the building.
Most of the building maintenance companies in Dubai are widely employed for services like routine maintenance. Most commercial building owners in Dubai invest heavily in this service because they understand the importance of an experienced and professional facility maintenance provider and how it protects the value of their investment. Using this service strategically has the potential to lock in the earning potential of your building for years and years to come. It is all about commercial routine cleaning and maintaining the exterior as well as the exterior of the building. Besides taking care of the aesthetics, it, more importantly, makes sure that the property that you own is maintained with care and is kept free from any damage, prevents costly problems and constant repairs.
Here are some factors that prove that building maintenance is actually one of the most important investments you can make for your building:
1. ROUTINE CARE COSTS LESS THAN EMERGENCY REPAIRS
If you are calling a service professional or a contractor to fix certain problems in the building, it will cost you a lot more than if you had detected the problem before it even occurred. This is because fixing something without a problem is much costlier than fixing a problem that has already reached a certain state of situation where it needs emergency attendance. Even something as minor as a leak is relatively cheaper to be fixed if it were detected during the early stages. However, once it has started, it will cause water damage to the structural components of the building and hence it will drive up the cost of the repairs.
2. POSSIBLE LIABILITY IS LIMITED WITH ROUTINE MAINTENANCE
Your liability will increase if there is any damage to the building or the walkways, car parking or even grounds that are in bad shape. This is because it increases the chances of someone getting hurt as a result of the damage. There is also a lower possibility for your building to be vandalized if you keep it well maintained like keeping the grounds in good shape, properly functioning security lighting and a good impression of the overall building.
3. BUDGETING IS ONLY POSSIBLE WITH SCHEDULED REPAIRS
It is impossible to budget when you have to deal with emergency problems. You may not be able to predict when the next weather hazard will occur or when an emergency situation will occur. However, you can rest assured that if your building is well maintained and in good shape, the level of damage will be much less. You can always keep aside a separate fund for emergency repairs but the fund kept aside for routine maintenance can always be budgeted with accuracy while catering to all your maintenance requirements.
4. YOU SEND A POSITIVE BUSINESS MESSAGE WITH A WELL MAINTAINED BUILDING
It is almost impossible to change the first impression. Your customer will immediately form an opinion about your professionalism, management and overall business attitude when they first view the commercial property that you own. Customers will instantly get a positive impression about a building that is well presented and care for as opposed to a building that is old, dirty and run down.
COMMON TYPES OF MAINTENANCE REQUIREMENTS THAT ARISE
Many leading experts in Dubai are suggesting that commercial building owners should carry out regular maintenance on the roof of the building and carry out hot water cylinders and light fixtures at fixed intervals. A leaking roof will call for major repairs. With regular maintenance, you will only have to deal with patching minor cracks that are just starting to appear or replace whole sections which are all proactive moves in keeping things running smoothly. You might not find out many problems if you conduct regular inspections but you will be really glad that you stayed prepared whenever something comes up that needs immediate maintenance.
LIGHT FIXTURES AND HOT WATER CYLINDERS
Very common problems in commercial buildings are light fixtures and hot water cylinders. Hot water cylinders are very expensive to repair once it is damaged. Faulty light fixtures also have the potential to damage the overall electrical system in the building like insulation so it should always be treated even before the problem occurs.
KEEP YOUR RENTAL YIELDS HIGH
Hiring a good and reliable building maintenance company can keep you rental yield high and increase the potential for capital gain. Even the most majestically built structure will reduce to a state of disrepair and lose its value over a short period of time without regular maintenance from the professionals. It might even cause loss of income in instead if you have to vacate the building to do maintenance and repairs for long periods of time. These are some very common pitfalls in the real estate industry and you can avoid all this by simply hiring a company that specializes in building maintenance. Outsourcing is a better option as opposed to creating a team by yourself because the former is more efficient and most cost effective in the long run. A commercial property is a long term investment and it will make a significant source of income for the coming years. So it makes practical and sound financial sense to maintain this source of income.
