by Dakota Murphey
Being forewarned about upcoming expenses on a commercial property you’re in charge of can be extremely useful at any point in the year. For building managers, managing agents and landlords, there’s nothing worse than being hit by costly repairs you hadn’t accounted for.
Fortunately, while you can’t predict the future, you can make your life and every element of property and key management simpler, streamlined and stress-free by being prepared for all eventualities. From sudden floods to structural damage, unforeseen events can disrupt operations and lead to significant financial losses.
This article explores how to prepare for unforeseen maintenance issues, to mitigate risks, or cope with emergencies effectively.
Be aware of potential risks and future concerns
Commercial buildings face unique vulnerabilities that private residences don't. With multiple occupants, complex digital networks, and higher foot traffic, the potential for unexpected issues can rise. And, if you’re feeling under pressure from the current economic uncertainty, streamlining your operations and investing in a managed property can help to take away much of the strain and worry about tackling repairs or issues that you haven’t budgeted for.
Natural disasters like floods, human error or criminal incidents, such as arson fires, vandalism and security breaches, can strike commercial premises when you least expect or need it. Although major disasters are unlikely and minor issues are still stressful, prevention is key for avoiding expensive issues and unexpected scenarios on whatever scale. Some common problems to be mindful of include:
- Water damage from burst pipes or roof leaks
- Electrical system failures affecting entire floors
- Structural issues requiring immediate evacuation
- HVAC system breakdowns causing uninhabitable conditions
- Fire damage affecting shared spaces
However, each of these scenarios can force temporary closure, costing businesses thousands in lost productivity and revenue. In worst case scenarios, damage can hit your wallet and reputation hard and, beyond immediate preparations, it can help to consider how the choice of the commercial building you move into might affect long-term plans. Equally, if you’re building an office, assigning a Principal Designer may help to ensure that the layout, structure and design plans are decided on to avoid problems and maintenance repairs down the line.
In addition, knowing ahead of time that a building’s layout is safe and practical for its purpose and the anticipated number of occupants is good to know sooner rather than later. It can be costly to add partitions, rearrange spaces, and reconfigure stairs or entry points at a later date. Being aware of the building’s specifications and lease negotiations might also play a part in mitigating risks.
Therefore, avoiding risks or problems before an office or estate agency is up and running is useful. You might also want to assess the current condition of a building to find out whether it already has a chequered history of maintenance issues, concealed hazards or potential risks.
Budget for contingencies
Financial preparedness is important and having a robust contingency budget might mean the difference between a minor inconvenience and a business-threatening crisis. Create a contingency plan early, that gives you the financial scope to allocate funds if unplanned issues arise.
Whether you own, rent, or manage a commercial space, budgeting for repairs of any nature is key throughout the year. This is true if you’re currently looking at locations and choosing the right building or space for your business. You might have an established agency or are planning to move offices in London or elsewhere in the UK. Whatever position you’re in, you may already be checking prices of office space for rent and it’s ideal to know your long-term expenses and plan funds accordingly.
If you’re in a “setting up phase” or entrenched in a managed building, it's worth noting that accounting specialists can deliver tailored services for estate agents and property managers. Covering the Southampton and Salisbury region, Numeric Accounting is one such example, although there are other firms in multiple locations throughout the UK.
Streamline and manage operations
Businesses in managed office buildings often weather unexpected events more successfully than those in traditional let spaces. If you’re partnering up with contractors, having good and transparent lines of communication is key for ensuring the integrated aspects of the project are well coordinated.
Likewise, having the reassurance and expertise of a fully-managed property service brings significant benefits if an unlikely maintenance issue or emergency occurs, in a building that is both full of personnel or empty. Some advantages include:
- Immediate response times from on-site maintenance teams in developing situations
- Established emergency protocols and regular building-wide drills
- Backup systems for utilities such as power and internet connectivity
- Access to alternative workspace within the same building
Similarly, positive relationships make it easy to action urgent maintenance tasks to contractors in an organised and timely fashion before or when unlikely issues crop up. When there is a concern in a building, whether it’s a misplaced key or a necessary maintenance task, integrated technology such as Fixflo (a partner of Keyzapp) can also keep everyone informed with real-time updates on the status of any problems. Property managers are also able to see the status of work or schedule activities for a property.
Prevent emergencies from arising
When it comes to commercial properties, water is the most common cause of damage to a property with burst pipes, flat roofs and faulty appliances mostly to blame. Whether unplanned damage or disruption occurs from extreme weather events or internal plumbing failures, the repairs can be devastating. If water emergencies do happen, swift action is critical, and having an established relationship with plumbers and specialists can significantly reduce downtime and prevent secondary damage.
Ongoing maintenance checks throughout the year will help property managers prevent issues and avoid costly repair jobs. Preventative measures against water and other damage might include conducting regular inspections of plumbing systems, particularly in period buildings. These checks can mitigate any serious hazards and emergencies, such as floods, electrical fires or plumbing issues.
By taking a proactive approach to unexpected office emergencies, businesses can protect their assets, minimise downtime, and maintain continuity even in challenging circumstances. The investment in preparation invariably pays dividends if the inevitable does occur.