Protection – Next in the 4 P’s of Property Maintenance
Property maintenance can improve the durability and value of your assets. However, these benefits are commonly underestimated.
We have previously covered the role of presentation in improving your strata’s appearance and overall property value. We will now demonstrate how maintenance can safeguard your assets to ensure optimal functionality, extend lifespan and provide maximum returns.
Protection can reduce future costs
Planned maintenance takes into consideration factors like usage, traffic and exposure to weather elements for informed decision making on when to maintain, how frequently maintenance needs to occur and exactly what sort of maintenance activity needs to occur. These, in conjunction with consideration for specific asset types and their existing condition, are useful for tailoring and targeting implementation. Planned protective regimes as part of ongoing maintenance can, as a result, avoid expensive repair or replacement costs.
The positive outcomes of thorough asset protection are far more than just financial. Asset protection and maintenance mitigates the risks associated with asset breakdown and failures, helping create a safer environment for tenants and better adherence to regulatory building compliance. Pre-empting the risks posed by hazards caused by lack of maintenance through planned regular maintenance helps minimise potential for injuries and the ensuing legal ramifications.
So far, we have seen that maintenance is beneficial for not only the appearance of your property, but also to protect its durability. For our next instalment, we will uncover another aspect of property maintenance, preparation.