Winterizing Your Assets: Top 5 Tips

It’s that time of year again, the arrival of Winter. And so, the topic of discussion: winterizing your property. 1 out of 4 property owners have their winterizing to-do list, and even fewer owners will actually complete this list each year.

We asked a handful of our clients in Chicago totaling in 133 multifamily properties to give us their top 5 winterizing tasks to prevent damage during our Chicago winters. These end-of-the-year maintenance steps will help protect your assets and give you peace of mind:

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5. DO YOU FEEL A DRAFT?

No one wants an expensive utility bill if they can help it. Swap out old doors for new, or add a new weather seal to prevent entryways, and corridors from getting drafty. Ask tenants to remove their window unit A/C, and perhaps provide a storage option in the buildings’ basement. Caulk holes and openings around windows & doors.

4. ROOF & GUTTERS

These two are out of sight, out of mind and that’s why they made it to the winterizing list. It’s common an owner doesn’t know the quality of their roof, and if lacking a maintenance team, the gutters too go unnoticed. Perhaps there is pooling from uneven surfaces. Be sure to inspect the roof for cracks, fissures, vines, and water pooling. Be sure to clean your gutters (typically after the leaves have fallen). Doing so will prevent Ice blockage, damage, and an unwanted home to critters.

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3. HIRE A RELIABLE SNOW REMOVAL COMPANY

If you have a small portfolio or even just one property, this might not seem like something you will need yet, or perhaps doesn’t fit in your budget, but we all know how hard it is to plan around a snowfall. Which is more important, your nephews’ choir recital, or your tenants’ being snowed in trying desperately to get to work? Hiring a snow removal company will save you both the time & headache. If you have multiple properties close by, perhaps the company will give you a discount.

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2. HEATING SYSTEMS

Run a routine check on your building’s heating systems. Be sure your basement is clean and your boiler is running accordingly. If your tenants have in-unit HVAC systems, notify them of maintenance, replace air filters and make yourself useful; change a light bulb or two. Service furnaces, boilers and chimneys at least once a year to clear any buildup and to keep them running efficiently.

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1. PIPES PIPES, BABY

Have you heard stories about pipes freezing in Chicago? They aren’t myths. Prevent this by wrapping insulation or, in some cases, running a heater nearby. Older properties will even run a few faucets on a very slow drip to prevent freezing and worse, bursting. Always remember to turn off any exterior water by opening the spigot and shutting off the valve. If there are garden hoses outside, empty the water, wrap up and hang indoors. Underground irrigation systems need to get flushed out and properly insulated from weather. If you are unsure of how to do this, contact the company that installed this service or a landscaper for maintenance assistance.

We know and understand that each property will run in its own way. Property sizes, neighborhood location and age vary. It is important to observe your property mechanics and systems on a seasonal basis. Observe areas that need attention to avoid heat loss and expensive energy bills. We have all experienced a Chicago winter, so better to be prepared than to run an expensive building.?