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Real properties are undeniably high-valued assets. However, it is not a guarantee that a real property’s value will appreciate especially if it is not kept in an excellent state and it lacks good maintenance. Businesses, institutions, and governments most importantly have the responsibility to prioritize the upkeep of such properties not only to exercise safety of the occupants but also to ensure a positive market in the event the properties are to be sold or disposed of in the future.
However, property maintenance is not as easy as ABC. There has to be a dedicated plan of action in case events take place. More importantly, there has to be a team that is always ready to monitor the upkeep on a regular basis. Here is where a reserve study is necessary.
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