Winter is Here!
Make sure your Commercial Real Estate properties are winterized.
If you have anything to do with commercial real estate, then I can tell you, season changes require some extra attention to your investment properties.
We are headquartered in Chicago, where mother nature shows itself with fiercely cold weather.
Any time your commercial property isn’t fully functional, it costs you valuable time and money. The first order of business is to keep everyone safe, comfortable and welcomed. As an investment sales broker I will tell you, this means all the difference when trying to maximize value.
So here goes, a high-level list of some things you should consider as a professional in commercial real estate. This list is followed by links to additional resources.
- Prepare entrances. Make your building welcoming. Invest in good mats, for inside and outside. Prevent dirt and therefore slip-up and falls. prepare your entrances and hallways to not only provide safe passage for all tenants and visitors, but a generally positive experience.
- Inspect and insure that all HVAC systems are in good operation, in both occupied and vacant spaces.
- Set up and/or review snow removal contracts and assure you have adequate protection.
- Have a plan in place to keep sidewalks and parking lots free of ice and snow accumulations.
- Be prepared: stockpile now for ice with salt, ice melt and shovels.
- Get all snow blowers, plows and shovels ready for use.
- Assess all exterior lighting to ensure it is illuminating all walkways properly
- Examine all downspouts and roofs for proper drainage.
- Fully test and service generators to ensure they are ready for use.
- Inspect mechanical systems and change filters.
- Make sure exterior access points have proper weather stripping.
- Inspect doors and windows and use caulk and weather stripping to seal gaps that are found.
- Change or clean all air filters, (preferably every month).
- Assess the roof condition. Snow and ice pile up fast and often increased weight on the roof.
- Ensure that heat stays above 45 degrees
- Create a Slip, Trip and Fall Prevention plan.
- Create a plan for loss of power, including considerations for maintaining heat and preventing frozen pipes. Establish safe equipment shut down procedures.
And remember, there’s no substitute for a clean, well light, safe, welcoming commercial property. Make sure those that visit your investment property know, this property is well cared for. I hope the holiday season is one that is filled with friends, family, health and wealth.
Best of luck. Stay warm.