We have written before about property management in relation to the summer months. Perhaps you were able to read Property Management | Hot Weather, Property Management | Insulation for Hot Weather, and, to a certain degree - pun intended - Property Management | Landscaping. You took our advice and planned ahead, preparing for the heat, the rain, the growing vegetation, and whatever other challenges summer might bring. Well done!
The sun is shining this morning, the temperature is 95F (35C), the humidity is very high, and there is a 50% chance of thunderstorms this afternoon. You manage a warehouse, which uses fans, and the four-story office building connected to the warehouse depends on a central air conditioning unit to cool the building on days like this. That air conditioning unit is not functioning as of 530 AM this morning.
Property management is about planning. The successful property manager anticipates emergencies; however, even the best cannot anticipate a failed centralized air conditioning unit that was, until this morning, working perfectly and had passed all recent maintenance checks.
There are many things to consider with just this one property management issue:
Is this something that needs to be addressed by internal maintenance staff, if you have them, or an external maintenance company?
When are maintenance staff or the maintenance company available and how long will this take to fix?
How much will this fix cost and are there emergency funds available for it?
Is the office building properly insulated for hot weather, and how long will it take for internal temperatures to reach uncomfortable or even dangerous levels?
Is there security footage, does that footage show suspicious activity, and should law enforcement be contacted? (true story - saved for a future post)
This scenario provides us with just one example of a property management emergency. Regardless of weather or seasonal climate, successful property management is the art of planning ahead. Consistency in property management is key to protecting real estate investments, and the tenants within. For more insight, contact Industrial Commercial Real Estate to discuss how we can provide comprehensive property management services for any season.