Everything You Need to Know About Property Management

Everything You Need To Know About Property Management

Table of Contents

Fixwerks Corporate provides unmatched property management services to a variety of companies, including large-scale commercial and industrial operations and buildings like schools, estates, and historic structures.

In this blog, Fixwerks Corporate pens a guide to serve as a reminder of the major advantages of property care and the significance of protecting one’s possessions.


Importance of property management and maintenance

Your property and assets will last longer with adequate care

Our biggest investments are virtually always in real estate, machinery, and other assets, particularly if they are being used for business. Moreover, these are significantly less prone to decay, malfunction, or fail if properly maintained. The quality, integrity, performance, and lifespan of properties and assets are of the utmost significance, and good property maintenance will maximize these attributes.

Property upkeep maintains the value of your company

In contrast to a neglected home, a well-maintained property is more likely to preserve its market worth. Regularly doing property maintenance tasks like inspections, repairs, and service can help you save time and money. The integrity of your assets will be maintained to a high standard if you treat “property maintenance” as an investment. For instance, keeping gutters and fascias clear of junk and debris increases the likelihood that things like damp won’t enter the property and damage the building’s structure and equipment or assets.

Property upkeep contributes to public safety

Maintaining a high degree of property upkeep makes equipment, doors, staircases, and lifts safer to use and of a caliber that helps prevent accidents from happening. Every business is required by law to keep employees and renters safe, and we all want to prevent accidents from happening in the first place. Property upkeep assists businesses in demonstrating best practices for health and safety compliance, with a focus on primarily protecting people. This also reduces the possibility of legal problems developing in the event that accidents occur as a result of the wear and tear or malfunction of property or equipment on the premises.

Property maintenance ensures that consumers, employees, and renters are content

If the people who use and frequent the property are glad to be there and if things are in good shape, commercial tenants are far more inclined to continue leasing from you. This increases the likelihood that the business will run smoothly and effectively, which may result in a longer lease or in them promoting your property to others. By doing this, you may maximize the building’s financial potential and increase your overall income.



Routine maintenance vs. emergency maintenance

Property Management: Routine Maintenance

Regular maintenance includes fixes and upkeep that don’t require immediate attention. This does not imply that they should be disregarded, though. Such maintenance can be scheduled promptly, even within 24 hours; it is not required to be done right away. Routine maintenance issues may not be handled right away, and tenants are not required to report them right away. This is due to the fact that the tenants will not be harmed or in danger as a result of failing to address the issue right away. Slow draining sinks, broken blinds, and broken dishwashers are a few non-emergency maintenance issues. 

If the issue persists for a few days in any of these situations, there are no major repercussions. Although they could be annoying, they aren’t hazardous. A blocked toilet is a more subtle problem. If there are two toilets on the property, a blocked one is not a serious emergency because there is a backup. It is probably required to address this issue as an emergency maintenance report and resolution if there is just one toilet on the property.

Characteristics of Regular Maintenance

As already established, regular maintenance is a typical method for dealing with common equipment problems before they result in unanticipated downtime. The following characteristics set routine maintenance apart from other maintenance strategies:

  • It approaches maintenance in a preventative manner.
  • Daily, weekly, monthly, quarterly, or yearly tasks are completed.
  • Most of the related duties are based on predetermined time frames (for instance, equipment #1 must be serviced after 72 hours of operation, and equipment #54 must be serviced after 15 days).
  • An annual operating budget is used to fund routine maintenance work.

Property Management: Emergency Maintenance

A malfunction or failure should be recognized as an emergency maintenance issue and reported as such if it puts the renter or other people in danger of immediate harm. Major flood or fire events are two examples of emergency maintenance problems. If not addressed very away, they may cause significant damage to the property, additional harm, and even injury. Everyone will benefit from an early report from the tenant and a swift settlement.

In the event of a fire or other emergency, any damage or malfunction that makes it difficult for the renter to leave the premises is also considered to be an emergency. You can never predict when a fire will break out, thus it is unacceptable to not have an evacuation plan. Doors, windows, dangerous floors, and damaged fire escape ladders could all limit fire escape routes.

For tenants to ensure both their personal safety and the security of their property, locks are a need. A lock that has broken is a crisis. It is necessary to make a repair or replacement so that tenants can stay in the home secure from burglars.

planning emergency maintenance measures in property management


Tips for good property management

Creating a timetable and monitoring maintenance performance are essential for a successful maintenance program. A user-friendly maintenance management system may change any regular maintenance program, even though 55% of facilities still utilize internal spreadsheets and schedules to handle their maintenance tasks. The following methods a proper management system facilitates routine maintenance:

  1. Schedule Maintenance Tasks Accordingly

Plan and manage maintenance activities by allocating tasks to particular team members, stating deadlines, and establishing priority levels. Property repair and maintenance experts will be able to monitor fulfillment in real-time, as well as the remote performance of maintenance jobs.

  1. Managing Spare Parts Inventory

Property repair and maintenance experts can create a spare parts inventory so they can get alerts about stock levels, monitor usage, and anticipate future requirements. By providing this functionality, maintenance teams are able to be ready for any potential asset problems.

  1. Keeping Maintenance Data

In order to offer asset maintenance history, property repair and maintenance professionals gather, store, and analyze data. Reporting on key performance indicators (KPIs) aids management in finding persistent issues. Corporate repair and maintenance experts, for instance, can show that a company has used more resources than usual to fix a specific equipment.

Hiring experts can be crucial in helping firms make the shift from reactive maintenance to proactive maintenance. Basic maintenance issues including a lack of a proper maintenance structure, shoddy inventory management, and uneven maintenance schedules are all resolved with the help of professionals.

keeping data in property management


Routine system maintenance in property management


Plumbing

You could be seeking a solution to cut costs and be calm when it comes to your plumbing system. The answer for you in that situation is to regularly get your pipes and fittings tested. There is unquestionably no better way to maintain your plumbing system and identify concerns before they occur. Yet it’s not just about saving a few dollars or avoiding trouble.

Every day, we use our plumbing systems. When there is a plumbing problem in your establishment, it can disrupt so many aspects of our everyday lives. Not to mention, the plumbing in your entire building may have an effect on the health of your family and you. It can change the quality of the water and air, affecting more than just routine operations.

The Impact of Plumbing on Water and Air Quality

Your pipes keep clean and water quality is improved with routine maintenance. Calcium, magnesium, and other minerals in excess might damage the pipes in your workplace. It might accumulate inside your plumbing system, for instance, leading to clogs, leaks, and corrosion.

The quality of your water can be enhanced by scheduling routine plumbing repairs. That’s not all, though. Regular inspections may also have an impact on the air you breathe.


Electrical

Large-scale, widely dispersed electrical networks power the majority of businesses and commercial buildings. Despite having installed preventive safeguards, the bulk of modern power supply networks are still susceptible to electrical breakdown. In order to provide uninterrupted electrical distribution and avoid downtime due to outages, an efficient electrical preventive maintenance program is required.

Some of the most common reasons for equipment failure involve defective electrical components. Preventive maintenance is the only practical option if businesses want to reduce total maintenance expenses given how complicated today’s electrical equipment is.

electrical maintenance in property management



Handyman repairs

Businesses, and small and medium-sized firms in particular, need handyman services. An unexpected incident, whether one as small as a leaking ceiling or one as significant as a storm, can cause damage and disrupt corporate operations. You cannot be expected to promptly attend to these damages given your busy schedule serving client needs.

The significance of handyman work to firms is in making your expenditures cost-effective. There is no need to employ various contractors for landscaping, plumbing, electrical, or mechanical work. All of these tasks can be completed by one handyman. Using Fixwerks Corporate for property management and maintenance services saves money by avoiding the cost of:

  1. Larger Fixes

You keep up with property management and maintenance because you want to avoid major damages. Regular maintenance checks by handymen help you see any leaks, tile loosening, and other damage early on. Spend less money by maintaining your facilities’ fixtures and equipment rather than replacing them. Remember that prevention is always preferable to treatment.

  1. Homemade repair equipment and tools

Your workforce has received training in management, accounting, and marketing. Did you know that there are many tools and pieces of equipment for property management and maintenance? The sizes of nuts and bolts vary, as do the varieties of screwdrivers. When it comes to knowing the correct tools, handymen are professionals. Instead of buying potentially incorrect tools and performing the repairs yourself, it is preferable to hire Fixwerks Corporate.

Conclusion

Regular property management provides greater asset performance, lessens the need for equipment replacement, and boosts return on investment. Regardless of maintenance skill level, it is a simple method that is simple to implement. Consider performing routine maintenance. Trial Fixwerks Corporate for 30 days without cost! To get your subscription started, get in touch with us today!

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