As the owner of a commercial property, it is vital that you understand just how important grounds maintenance is. However, this particular aspect of property management includes more tasks than might meet the eye. In fact, ground maintenance can have a significant impact on your bottom line. Here are some aspects you might not have considered.
Any commercial enterprise is in business to make a profit. One of the biggest expenses that can quickly eat away at your bottom line would be the cost of replacement. Take for example that asphalt parking lot. The expected lifespan is between twenty and thirty years. Unfortunately, damage that is preventable such as that from ice can significantly shorten the pavement’s longevity. In order to prevent damage from ice, sealcoating prevents water from seeping through to the pours and then expanding when it freezes. To learn more about how sealcoating protects asphalt, check out https://scsealing.com/parking-lot-maintenance/. This, unfortunately, is just one kind of preventable damage that would necessitate replacement before it’s typical lifespan.
Then there’s safety to consider. Any debris or obstacles the public can slip and fall on can prompt a major claim against your insurance. If you have a lawsuit filed against your business, the cost could be extremely high. Yes, you carry the required insurance, but you can personally be held liable as well if you are up against a crack attorney. The cost of your insurance will probably rise and you can lose a small fortune with just one injury due to inadequate grounds maintenance.
While you probably aren’t listing your property for sale, you can learn from realtors on how to increase the value of your property. When it comes to business practices, be aware that potential customers and clients really do judge a book by its cover. If your grounds are unkempt and littered with debris, what will a prospective client think of your business practices? They might assume you run your business as shabbily as you keep your grounds. You can lose a great deal of future business this way.
Zoning and Code Violations
No matter where your business is located, you are subject to zoning code requirements. Most code enforcement officers look for such things as fallen trees or branches not cleared timely. These may be the result of an Act of God (Act of Nature) but it is still your responsibility to keep up your property. Trash strewed around can have a severe impact on the ecology and if you are found to be in violation of any local codes, the fine can be extremely hefty.
The whole point of being in business is to make a profit. If you are losing money, you might as well throw in the towel. Although this may sound a bit extreme, many businesses have failed for one or more of the issues mentioned above. Your key takeaway is somehow tied to the old cliché, “What you see is what you get.” Don’t let a lack of ground maintenance kill your business. It is, after all, an easy fix.