One of Seattle Commercial Real Estate’s clients had leased a retail location that had a poorly maintained roof. The roof’s condition was addressed in the lease but the new owner continually stated that he, “did not buy the property to dump money into it.” The landlord refused to replace the roof and agreed only to allow poorly placed patches to “solve” the problem. Due to the landlord’s lack of repairs, maintenance and keeping the roof in good working order, our client suffered many roof leaks that caused damage to the interior of the retail space, including damaged flooring. After about two years of back and forth with poor patch jobs, the landlord agreed to replace the roof after being threatened with a lawsuit for damages done to the business. If he had maintained the property properly, all of this could have been avoided and his investment would have been growing. Instead, the neighboring spaces sat vacant for several years due to the property’s poor condition and he had to pay damages to our client plus the cost of a new roof. Extra expenses and lost revenue are not the best way to grow your investment.
Seattle Commercial Real Estate has over 125 years of service and knowledge to assist you with your investment property. It is our philosophy that in order to protect your investment, it is important to maintain the building and grounds, no matter if it is commercial retail, office, industrial or multi-family. We stress the importance of having “fertilizer” money. As with regular fertilizer, which helps things grow, fertilizer money helps your property grow. As a property “grows” so does your investment.
What’s the best way to keep your property growing? By keeping the property maintained, the landscaping clean and updated, the parking lot clean, the building structures sound and painted and in good working condition, you’ll begin to grow your investment.