One mistake landlords should avoid at all costs.

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Dear Landlord,

I know you take great pride in your property and envision the days when you'll reap high returns on investment, or perhaps you already are. I'm genuinely thrilled for you and wish you all the success.

Behind every gleaming, highly functional, and immensely profitable property lies a web of maintenance costs, government regulations, tenant agreements, and myriad legalities that you've navigated with commendable resolve.

Imagine, if you will, a scenario where legal issues or a court case suddenly seal off your property or render it unprofitable.

What would you do in such circumstances? Would you simply close up shop and wait for the storm to pass, or would you strive to maintain the property's integrity and functionality, even amidst adversity?

In the blink of an eye, I've seen many landlords opt for the former, and therein lies the beginning of the property's decline.

The period of closure and neglect accelerates the wear and tear of machinery, leading to irreversible damage.

While ongoing maintenance may seem minimal, restarting maintenance after a prolonged hiatus is a Herculean task that consumes precious time.

Consider the case of large machinery like chillers, with an expected lifespan of 20 years. Due to disuse and neglect, this lifespan may be halved to just 10 years.

This brings to mind the mango tree planted by my great-grandfather. It bore its first fruit after years of patience, and continues to yield fruit to this day.

A closed facility not only impacts rental income, but also diminishes the property's valuation.

A reduced valuation inevitably affects the property's sale price should the landlord choose to divest.

Property valuation is intrinsically tied to its worth. A closed property commands significantly less value, regardless of its location or infrastructure.

Let's consider the reopening process to paint a clearer picture.

Restoring essential services like electricity, water, HVAC, fire safety systems, CCTV, and elevators incurs significant costs.

However, no amount of expenditure can fully compensate for the loss of machinery life during the closure period.

By now, I hope you, as a landlord, have gained clarity. Allow me to offer my sincere advice:

Best Regards,

Your well-wishing FM 👋