Make sure your budget includes regular maintenance for your Tucson commercial real estate property.
With the economy slowly improving, Tucson office building owners and managers are taking stock of what they need and want.For instance, is it time for a lobby re-design? New roofing or windows? Restoration of decorative exterior elements? Elevator upgrade?
Any of these would improve a building’s appeal and, quite often, operating efficiency. There understandably is a strong temptation to expedite capital improvements.
Plan for Repairs First
However, we at Commecial Real Estate Group of Tucson caution you about going for the bells and whistles right away.Long-range planning and budgeting that include a preventive maintenance program and anticipated repairs should be done before any purely elective capital improvements are undertaken.
The need for long-term planning for your Tucson commercial real estate property is well illustrated by the recent Great Recession. Building owners and managers without a logical plan found they were unable to meet ongoing building demands as rents fell and tenants left. Now funds that might have started a capital project have to be diverted to catch up on maintenance and repair.
Hire an Expert to Balance All Building Work
How to get back on track? A full-service engineering or architectural firm can help you balance ongoing maintenance and repairs in tandem with undertaking major capital improvements.
Choose a firm that’s
- in synch with your long-range vision
- expert in developing viable budgets and timelines
- able to professionally administer every aspect of a capital improvements program.
By creating such a partnership, you can make sure maintenance and repairs are ensuring safe, smooth building operations while you venture into well-planned capital improvements. Both increase a property’s appeal and value.