Improve Cash Flow to Pay for Maintenance Expenses
Behind every great apartment building is a solid maintenance plan, and behind every solid maintenance plan, is an adept financial strategy to fund it. In order to keep your apartment building appealing for all your future tenants; this financial aspect of owning an apartment building is perhaps, the most crucial.
If a person walks into your building, may it be a guest or a possible tenant; the upkeep of the most basic necessities, the availability of amenities, and the overall ambiance that they experience; is your most important medium of marketing. People talk about what they like, how they feel, and they also talk about what they dont find appealing. So no matter how insignificant a maintenance job seems to appear, trust that it plays a major role in the bigger picture.
Before you go around thinking of ways to fund the maintenance work around your building, you must first know the type of mainenance that is required.
This type of maintenance preserves the physical integrity of an apartment building and ultimately, its value. By creating a guideline for preventive maintenance and following it to the letter, you can help reduce the cost of corrective maintenance (discussed below).