COVID-19: EUROPEAN REAL ESTATE IMPACT RAZI SALIH
PLANNED PREVENTATIVE MAINTENANCE TIPS FOR LANDLORDS The effect of the coronavirus pandemic has been felt across all sectors of the global economy, including real estate. Landlords hoping to get tenants to their properties before the crisis may have had to hold on longer to these assets than planned. It’s a delicate situation for many, but one that a planned preventative maintenance (PPM) programme can help with.
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Better Financial Management
PPM programme describes the actions that can be taken to preserve property and deliver financial benefits through reduced and recovered costs. During the pandemic, landlords can prioritise PPM and come up with all the major maintenance issues a property might need over a short and long-term period. Doing so allows for financial planning that can save on the capital expenditure required for the identified activities.
With the impact of the COVID-19 pandemic likely to be felt for months after the health risk has passed, industry experts see the real estate market as one where the current way of doing business might change. Landlords who find themselves with assets longer than expected can resort to PPM to provide a good overview of financial expenditure needed during this period. This information is valuable and keeps property owners from reactively spending, which is inefficient and wasteful.
WITH THE IMPACT OF THE COVID-19 PANDEMIC LIKELY TO BE FELT FOR MONTHS AFTER THE HEALTH RISK HAS PASSED, INDUSTRY EXPERTS SEE THE REAL ESTATE MARKET AS ONE WHERE THE CURRENT WAY OF DOING BUSINESS MIGHT CHANGE.
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