CRE Report 05.14.12

Property Maintenance

Bob – Walt, what do you have for us today?

Photo Credit: http://www.brigley.com/

Walt – Good morning Bob.  I thought it would be a good time to talk about some property management.  One area where a few hours of investigation in property management can save thousands of dollars is preventative maintenance on the roof.

Bob – Walt the thought of the roof and any repairs makes me think of one question, “How much is it going to cost”?

Walt – Well roofs are expensive and the way to keep the costs down is to make the roof last as long as possible and minimizing repairs.  The word is “preventative maintenance”.  Basic roof maintenance can save thousands of dollars byincreasing the life of the roof and reducing maintenancecosts.  Here are some basic bare bones tips on roof maintenance:

1.   You can’t see the roof from the ground.  I know this sounds elementary but someone has to get on the roof to survey any maintenance issues.

2.   Check for ponding on the roof. Areas of ponding will cause problems.  Get with your roofer and determine a course of action regarding ponding.

3.   Take pictures or have your roofer take pictures and make notes on each photo.  It is so much easier to understand when you can see the problem.

4.   Make sure the roof drains and canales are free of debris.  A clogged drain can lead to severe roof problems.

A few dollars for the inspection and maintenance of necessary repairs can save thousands of dollars if the roof can be maintained and repairs kept to a minimum.  Conduct a roof inspection at least once a year, twice is better.

Bob – Walt, Sperry Van Ness manages a substantial portfolio of commercial properties, can you tell us a little more about your property management services?

Walt – We manage approximately 500,000 square feet of commercial space and work diligently every day to preserve the asset and increase the cash flow.  Property management is the nuts and bolts of the commercial real estate industry. Irene Carr, property manager, and Barb Buell do a great job in handling the day-to-day details of serving our owners, tenants and managing the properties.

We manage vendors, contractors, pay bills, collect rents, deal with insurance and mortgages and provide in depth analyses on all activity on the property and also provide financial reports on a monthly basis.  Get out of town and let us handle all the details!

Bob – How can people contact you to discuss commercial real estate?

Walt – Quickly, I have to get in a word on the auction of 401 San Pedro.  Originally listed at $330,000.  Opening bid is $199,000. Call me for details at 256-1255, don’t miss this opportunity. Auction is next Wednesday May 23, 2012 from 1:00 AM to 3:00 PM.  It’s an online auction. Get signed up and participate in this excellent opportunity. Also follow me on twitter @waltarnold or become a fan of Sperry Van Ness on Facebook for daily up to date Abq CRE news updates.  Bob, have a great week!

Click here to view auction website