Due to the lingering recession many property owners – especially in the commercial office property market – have cut back on maintaining their properties, which has proven to be a grave mistake as the recent and consistent rains – in Gauteng – have caused significant damage to many buildings. In many cases damages have far outweighed the savings accrued by cutting back on general maintenance.
This is according to Org Geldenhuys, managing director of property development and management company, Abacus DIVISIONS. “Right now, those property owners who cut back on maintenance, are sitting with water damage costs which, in many cases, surpass the savings they thought they were making by cutting down on routine maintenance.”
Geldenhuys said that the rains in Gauteng over the past two weeks have even done damage to basements, where increasing damp had been ignored. “We are seeing gutters overflowing, we are seeing ground water rising – and all this excessive water is taking its toll on properties.
“In many cases, the cost cutting measures undertaken by property owners seem minor in relation to water damage costs. Often even general water proofing has been ignored – an issue that takes its toll when we experience heavy and consistent rain.
“Given this scenario, it might be prudent for commercial property owners to hire the services of property management companies. At the end of the day, this could save them money,” said Geldenhuys.