The importance of parking structure assessments for property managers and owners
These frequently used structures are exposed to the environment and often neglected, resulting in dripping ceilings, cracked and spalled concrete, peeling coatings, rusted steel and pot-holed drive aisles. Garages require periodic structural repairs and regular maintenance beyond that of buildings of a similar age.
Financially, many garages are viewed as non-revenue producing elements. It can be difficult for owners to justify the cost of regular maintenance, repairs and upgrades when the owner does not see a clear line between that expenditure and an increase in rents or leasing fees. Even revenue-producing garages can fall victim to this line of thinking, with revenue being diverted to upgrading lobbies, adding amenities and improving the building aesthetics.
Garages are often both the first and last impression a potential customer, client or resident has of your property. Failure to take efforts to keep the garage in a clean, safe, inviting and structurally sound condition can lead to a loss in revenue, lowered client satisfaction scores and other hidden costs that may not be easy to identify.
