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Commercial Property Management Tasks that Have Great ROI

Commercial Property Management Tasks that Have Great ROI August 17, 2021

Commercial Property Management Tasks that Have Great ROI

Whether you are a commercial property manager or whether you simply have a commercial property that you are tasked with taking care of, it’s important that you think through maintaining it. Adding value to your property can happen in a variety of ways. Making the best decision about your property starts with careful research about your situation.

 

Landscaping

Having great landscaping goes a long way in making a great first impression with whoever comes to your commercial property. Doing the work to have a well-manicured lawn, pruned trees, and a clean building façade sends the message that your company is professional and capable.

 

As you think about how to keep your landscaping looking neat and clean, there are a variety of ways you can minimize the cost of upkeep while not sacrificing on quality. If you don’t love the idea of having to continue to mow your lawn out front, you might want to invest in putting in a fake lawn. These lawns appear like grass but because they are fake, there will be virtually no cost of upkeep.

 

Solar Panels

Getting solar panels can be a great way to reduce some of your utility costs each month. Figuring out the best solar panel option for you will take some time and effort. Do your research to understand if there are various tax credits available to you for installing solar panels—tax credits vary by state, but generally, there are tax benefits that you can access if you install solar panels.

 

You should also think about what kind of solar panels to install. Depending on where you are located, you might be able to install a certain number of solar panels and be able to completely power your building with the power from them. This is usually only possible if you live somewhere with constant sun throughout the year.

 

If you don’t get that much sun, solar panels could still be a great way for you to downplay some of your utilities costs, but you’ll just want to work with a variety of experts to figure out the best option for you.

 

Window Tinting

Adding window tinting is another important way to add value to your commercial property. Window tinting can help make your building more comfortable for those inside—if you notice that there are certain rooms where the sun seems to glare, adding tinting to the windows can reduce some of that glare while still allowing you to keep your curtains and shades open. Additionally, window tinting your building can lower your utility bills and give it an excellent return on your investment. The tint filters out light and the accompanying heat.

 

Energy Efficient Machines

Energy efficient appliances, printers, and even lightbulbs will definitely help you lower some of your costs while reducing your environmental impact. Figuring out how to switch to more energy efficient machines and appliances will vary depending on where your company is at right now. If you have not yet decided on a building location, try and find a way to actually purchase the different machines you need and to purchase energy-efficient versions.

 

If you are situated in an older building currently and are already using older appliances, computers, printers, etc., think about how you might want to switch over. Build a plan to improve your environmental contribution and reduce costs by implementing one change at a time. Maybe start with something small like your lightbulbs—designate some funds in a given month to go through and replace your current light bulbs with LED bulbs. Then, try and sell your used bulbs to get some cash back.

 

Gutter Upkeep

Keeping up your gutters may not be something that is on the top of your to-do list automatically. But keeping your gutters clean goes a long way in maintaining the health of your building. This is especially important if you live in an area where it rains or snows frequently. If your gutters are not cleaned, silt, twigs, leaves, and other material can build up and block the gutter.

 

When it rains or snows, the water or melt-off will not be able to run down through the gutter and will likely end up flowing down the sides of your building. When this happens repeatedly, your building’s outer structure can start to weaken, leading to bigger issues like mold or other things like rotted wood siding. Taking the effort every year to ensure your gutters are working properly will save you money on repairs in the long-run.

 

Parking Lot Maintenance

Having a clean, smooth parking lot has a bigger impact than you might initially imagine. First off, a smooth well-working parking lot will keep your employees, customers, and visitors safe. Surprisingly, there is a good number of accidents that occur in parking lots. Reducing the number of potholes and cracks in your lot will help reduce these numbers for you as well as reducing the frequency of incidents where people trip.

 

Additionally, the quicker you catch and address issues with pavement, the more effectively you’ll be able to prevent bigger problems that could result in having to completely redo the parking lot’s concrete.

 

General Repairs

One of the best ways to ensure that you are getting a great ROI is to keep up on repairs and maintenance. The importance of taking care of things is especially important and applicable when it comes to your building. Make sure you hire a building manager that you trust—do your research about their past experience and previous buildings they have managed.

 

If you have someone in the position you can trust, you’ll be able to have peace of mind about the state of your building, your building costs, and the continued value of your real estate over time.

 

As you figure out how to get the best ROI on your commercial property, make sure you don’t cut corners with your research. Understanding your particular situation with your company will help you be informed regarding areas of your property that could be improved for the best ROI. Then, implement changes one at a time.

 

Read this next: How Asphalt Helps Business Owners

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