Building managers and caretakers: Are they worth the investment?

Asset value protectors

Far beyond just fixing stuff that’s broken, on-site managers and caretakers are the direct protectors of a property’s financial value.

They are your eyes and ears. A caretaker who walks through the property on a daily basis will notice a broken ceiling tile, water in a place it shouldn’t be, or a slight change in the sound of a boiler.

By spotting and fixing these types of issues early, they not only prevent unnecessarily large maintenance bills but also potentially catastrophic, business-halting disasters.

A visible deterrent

A building manager or caretaker can give you something which a hired contractor cannot. They are a consistent, human presence at your property. This is a strong deterrent, particularly at criminals’ favourite places — vacant properties.

For an opportunistic intruder looking for an easy win, a property with a caretaker is a deeply unattractive prospect. Someone is visibly paying attention to the building so a potential thief, vandal or squatter will look elsewhere.

An extra layer of security

Caretakers provide peace of mind that your security systems are working as they should. They check and reset intruder alarms, check your CCTV system, warn you about security risks and recommend options for fixing them.

They spot things which may seem inconsequential — small weaknesses which could become significant such as:

• A door that isn’t locking properly
• A damaged gate or perimeter fence
• Windows left open
• Unusual activity around the property
• Graffiti or signs of attempted entry
• Unknown people loitering near restricted areas

Caretakers constantly check, flag issues, fix and improve. They provide an additional layer of security and help prevent crime.

Insurance shields

Insurance companies usually impose conditions on cover for commercial premises. And, again, the requirements for vacant properties are particularly strict because they pose the highest risk.

Insurers expect proactive risk reduction to avoid claims following criminal activity, electrical faults, fire, water leaks or environmental damage. What’s more, they need evidence that you’re reducing the risk.

Building managers inspect the property regularly for security or maintenance issues, and they document absolutely everything. This gives you a legally valid on-site paper trail and, in turn, several insurance-related advantages:

• Insurance can be easier to come by, especially for vacant properties.
• In some cases, premiums can be cheaper.
• In the event of a claim, documented evidence of risk management makes it more likely to be successful.

One thing to bear in mind: make sure your building manager has expertise in commercial insurance compliance. A specialist will tailor property inspections to your insurer’s specific policy requirements.

Tenant retention experts

Can you imagine a high-end law firm inviting clients into offices with a broken lift, dodgy climate control and damp communal areas full of rubbish? Probably not, because when their working environment is shoddy, high-value commercial tenants simply leave.

An efficient building manager is a massive factor in a premium tenant’s decision to renew their lease. Tenants have a clear, easily-accessible point of contact. When there’s a building-related problem, it’s either fixed before they notice, or sorted out straight away.

Building managers keep tenants happy on a daily basis. By doing so, they save you from the rent-free financial consequences of void periods, and the substantial costs of re-letting the property.

Time savers

As a property manager, you’re busy. It’s often the minor issues which, collectively, take the most time. An experienced, efficient building manager takes those small recurring problems off your shoulders. To give you some examples, they will:

• Handle phone calls about maintenance problems
• Manage tenant requests
• Meet contractors on-site, coordinate access, show them the problem and monitor work
• Provide regular on-site intelligence
• Respond to minor security problems before they become a major issue

Is a building manager or caretaker worth the investment?

In short, yes. While the cost of a building manager is fixed and budgetable, the cost of an unattended building certainly isn’t.

The time-saving benefits sit alongside a range of cost savings. For instance:

• Minor maintenance issues are dealt with before they escalate into loss-making disasters.
• Expensive emergency contractor call-outs are kept to a minimum.
• They help you retain high-value tenants.
• They deter trespassers, squatters, thieves and vandals.
• Security weaknesses are noticed, flagged and fixed.
• Insurance can be easier to come by, and less expensive.

These individuals aren’t simply an extra pair of hands. They are skilled professionals who give you proactive risk management, happy tenants, time to breathe and peace of mind.

The property is being looked after, even when you’re not there.

At CSG, our building managers and caretakers are industry specialists in commercial security, insurance compliance and proactive risk management. Get in touch for a no-obligation chat about how we can help.