What is deferred maintenance?
Deferred maintenance is when planned or unplanned repairs and maintenance tasks are postponed due to resource constraints such as financial, manpower or time. It usually means a minor repair that is put off and eventually becomes a much larger and costly problem later.
Your building is your future tenant’s, client’s or resident’s first impression of your business or service. It can provide a comfortable and welcoming environment, or, if it isn’t properly maintained, it can send a message that will deter people from enjoying your space.
Building Maintenance Management provides multi-family maintenance services to Bloomington and surrounding areas of the Twin Cities. We want property managers and owners to be aware of the risks involved with deferred maintenance.
Property Value Loss
Poorly maintained properties will lose value quickly. A property with a long list of minor repair costs can soon add up to an expensive repairs list. Deferred maintenance can make it harder to lease, sell or refinance.
Safety and Liability Risks
A poorly maintained property can be responsible for tenant, resident or employee injuries as well as lead to lawsuits due to those injuries. A poorly lit hallway/stairwell, inoperable emergency equipment or broken handrails can all lead to someone getting hurt and possibly holding your business accountable due to negligence.
Buildings that aren’t up to code or don’t meet inspection standards can risk fines or even being shut down.
Impact on Reputation
Most of us have heard the term, “roach coach motel.” Is that a term you want used to describe your building or business? How long do you think your business will be around with that type of reputation? When a property is run down and poorly maintained it tells the world that you don’t care and aren’t professional.
Avoiding Deferred Maintenance
Start with a plan. Have a professional company, such as BMM, come in and inspect your property for issues. We can create a list of work orders we discover while looking around your property.
We also have professional maintenance technicians that can complete the work orders on the list if your staff is unable, unwilling or overwhelmed. We’d love the opportunity to keep your property running in tip-top shape.
Deferred maintenance may seem like a way to save some money, but in the long term it will likely cost you more to fix the problems. Partner with BMM to take proactive action on the maintenance of your property. We can also create a preventative maintenance schedule that your staff can use, or we can come out to do the work as needed.
To learn more about our multi-family and commercial maintenance services, give us a call at 763-541-4886 or contact us.
