In many ways, a commercial property is like a home. Sure, it might be a little more ‘industrial’. There might be fewer shoes by the door and less milk in the fridge, but in terms of the business itself, it requires just as much care and attention as your home does – perhaps even more!
Unlike a home, of course, your commercial property is going to welcome new visitors every day, each of whom will form an impression the moment they step onto the premises. Whether they’re clients, customers, partners, or potential tenants, your commercial property is speaking for your business before you even say a word.
That’s why giving it some good old-fashioned TLC isn’t just a matter of pride – it’s an investment that will contribute to your reputation and long-term success. With this in mind, we wanted to walk you through several steps to ensure your commercial property is getting all the TLC it needs. Starting with the most important.
Commercial Property Insurance
The number one most important thing you should do when owning a commercial property is make sure it’s insured. Of course, commercial property insurance is one of those things you hope you never need – but when you do, it can be the difference between a minor hiccup in your business journey, and a major financial hit that tears your business down.
Attaining and regularly reviewing your policy, then, is a crucial part of property TLC, ensuring you’re covered from a range of threats, including fire, flooding, vandalism, theft, and tenant-related damages. In addition, you should also look into public liability insurance, which protects your business if a customer is injured on the premises.
Again, this is something you’ll – hopefully! – prevent from happening, but accidents are common, and the last thing you want is for your business to go through a lengthy lawsuit. Not only will it put the future of your company in doubt, but it will surely have an impact on the commercial property itself, potentially leading to a damaged reputation and even a loss of customers. With insurance, you can put in all the necessary safeguards to make sure that doesn’t happen, keeping your business, your property, and your reputation in check.
Regular Maintenance Checks
Just as you would regularly review your commercial property insurance policy, you should also be reviewing the building itself. By that, we mean regularly inspecting the HVAC, plumbing, roofing, electricals, as well as structural elements like windows, doors, and flooring. By doing this, you’re ensuring that you spot any small issues before they turn into big, expensive problems.
For example, a minor roof leak caught early might cost a few hundred dollars to fix, but left unchecked, it could lead to numerous issues that could run into the thousands to fix. Think of your property as you would a car. You wouldn’t wait for your car to break down before you get it serviced, so why would you wait for something to go wrong with your building before giving it attention?
Advanced Security Features
Last but not least, your security features. You probably have some already – at least, we hope so! But security isn’t just about locks and alarms anymore – it’s about creating a safe, smart, and well-monitored environment that protects your property and, ultimately, your business.
With this in mind, it’s your job to ensure your security features are always up to date, paying attention to modern security systems that offer a range of features beyond basic surveillance. To give an example, one of the best new security trends in 2024 was the integration of AI and ML in surveillance systems.
Essentially, these technologies transformed traditional cameras into intelligent monitoring tools, capable of real-time analysis and proactive threat detection – for instance, an AI-driven camera could distinguish between routine activities and potential security threats, recognising anomalous behaviours and unusual loitering. It’s these new technologies and trends that you need to be aware of, ensuring you’re not just reacting to incidents, but actively working to prevent them.
