WITH distressed sales and repossessions increasing the number of properties on the market, buyers are being increasingly thorough in their evaluation of prospective purchases.

To that end, we’ve seen several landlords who, in the process of disposing of properties, were presented with unexpected demands for building improvements as a condition of sale.

These buyers are being rightly rigorous in the current market, looking not only to uncover good value but also a high quality product that will give good yields in the long term.

It pays to remember that property will depreciate rapidly it not maintained correctly.

Despite lower rental yields, this is not the time to cut back.

It will only result in putting your property lower down the pecking order in any future beauty parade.

Cleaning drains and gutters is a simple job that’s easily cut back, but we have been called out to retailers forced to close to customers through flooding – a double cost they can ill afford to bear.

With tenants demanding increasingly high standards of accommodation in order to retain the best staff and attract the best clients – poor building maintenance can knock as much as 20% off a sale of a building.

Green regulation for commercial and retail property is an increasing consideration and when more stringent regulation does come into force, any laggards will find their asset’s value slashed even further.Š

While landlords may be looking hard at overheads, the cost of remedial work to bring properties up to the required standard is never palatable, in good times or in bad.

In some cases procurement managers are focusing too hard on the immediate bottom line, rather than establishing a more long-term holistic approach.

Keeping property in good shape is a clear win-win for landlords.

Owners with one eye on a possible sale will find themselves near the front of the queue as the economy picks up.

Sale or lease, a well-maintained property should pick up the crown in any beauty contest.