The COVID-19 pandemic has made an enormous impact on retail businesses.
A huge number of retail operations have been ordered closed by state and local governments. In turn, this has forced many tenants to close up shop.
And these business owners, along with the rest of the population, are sequestered at home until the “safer at home” order is lifted.
But while a tenant’s business may be shuttered for the time being, completely abandoning the physical space the business occupies and all its contents in the meantime is not a wise move.
Any number mishaps can befall a space left closed and unattended. Mishaps that can potentially harm the unit, the building, and the property as a whole.
Key concerns include…
- Burglary and vandalism
- Equipment failure that results in a fire, flood, or other physical damage
- Water intrusion from an adjacent unit or exterior sources
- And any number of other potentials catastrophes
To avoid any of these unfortunate outcomes, tenants should visit their closed business at least a couple of times a week.
And during these visits, tenants should:
- Check on unit security, looking for any signs of burglary or vandalism (and report evidence of either to their property manager and the police)
- Look for any signs of leaks or other water intrusions (and report this to their property manager)
- Start up equipment and make sure it’s functioning properly, with no signs of potential breakdowns or equipment failure (and contact the appropriate repair person to address any issues)
- Check on plumbing and electrical systems (if applicable) to ensure everything is functioning properly, with no signs of potential disruptions or system failures (and report this property to their property manager, as well as contacting a contractor to make necessary repairs)
Exercising even a basic “ounce of prevention” can prevent huge disasters at retail properties. And this is smart advice for retail landlords to pass along to your tenants.
Seeking Support to Manage Your Retail Shopping Center?
Struggling to manage your retail property amid the coronavirus pandemic? CBM is here to help!
Get in touch with Rick Rivera, CBM President, for a free consultation: 310.231.5201 or firstname.lastname@example.org