The Hidden Costs of Neglecting Facility Maintenance
Complications That Can Arise From a Neglected Facility
1. Safety
Even with stringent facility upkeep, there are safety issues that are bound to expose themselves throughout the tenure of the property owner. Mold, cracked flooring, water damage, and improper electrical functioning are just a few examples of safety issues that are common to a facility with little to no maintenance. When faced with these problems, tenants/workers of these particular facilities are often unhappy with the conditions of the facility, leading to a much higher turnover rate and ultimately higher cost to the facility owner. These issues can be remedied relatively simply with proper cleaning and maintenance practices, thus cutting overall costs and avoiding potential disputes with tenants of the facility.
2.Reputation
It may not be a popular business consideration, but the conditions of a facility say a great deal about the property owners themselves to potential tenants. If your facility is presented as a clean, safe, and overall pleasant place to operate, people will undoubtedly take notice. This preserves your reputation as a reputable owner, making it more likely that tenants will indeed refer you to other potential tenants. Not only does this preserve your reputation and make you money in the short term, but also can have major implications on future dealings.
3. Moving Costs
Congratulations! You’ve sold your respective property and are onto bigger and better things!
Now just one final thing to consider. The time and costs associated with moving your belongings from one facility to another. If your facility is unkempt, this can and will make the moving process much more difficult than need be. It is much easier to pack and move a facility that is properly maintenanced than move a series of sprawling boxes and belongings. A properly managed facility can make your move as pain-free as possible, and on to your new beginning!
4. Attractiveness to Potential Tenants and Buyers
The overall goal of many property owners is to fill that property with tenants, or to eventually sell that property to another potential buyer for a favorable profit. You would be surprised to know the difference a fresh coat of paint can make, let alone having all of the facilities rooms updated and up to code. In potential buyers’ and tenants’ minds, this shows dedication to the value and overall marketability of the property, ensuring them that the facility is one which will bring them joy to live in, or even potentially own for themselves. Owners and tenants are much less likely to invest in a facility that shows signs of need for repair, ultimately costing money out of their pockets.
5. Costs of Maintenance vs. Replacements
It’s no secret that proper upkeep of a facility is less expensive than having to constantly repair and replace various aspects of the property. Heating, cooling, plumbing, and electrical work can seem like a large bill to contend with, yet it pales in comparison to the cost of fully replacing such items. With proper facility maintenance and a good commercial flooring contractor, these problems can be handled before they occur. Often something as simple as properly calculating your floor load capacity can save you thousands of dollars if not more.
However, if not properly attended to, these seemingly minor issues can turn into some pretty major problems, such as structural and foundational issues.