Let’s face it, no one looks forward to commercial budget planning, especially when commercial roofing repairs must be considered. Capital budgeting is particularly tricky (without additional unplanned, costly expenses), and properly allocating funds can be difficult.
Not only are you working on a budget that may span multiple years, but there are so many demands on a business’s budget.
Typically, your budget for the coming years is based on the expenses you incurred over years past, but how do you plan for an expense that is usually only incurred every decade or so?
Every building manager and owner can agree that the roof needs to be in proper working order to protect employees, tenants, and equipment, but often it is an item that tends to fall by the wayside as more pressing needs arise.
However, ignoring roof maintenance or replacement can lead to roof failure and result in multiple costly and unexpected expenses.
If you are responsible for commercial roofing budget planning you must consider including repairing your commercial roof and its eventual replacement.
Here are some steps that you can take to make the process simpler and improve the accuracy of your projections.
Have A Reputable Commercial Roofer Conduct Regular Inspections
Regular roof inspections are critical when trying to predict future expenditures and prolong the life of your commercial roof. You will have a better understanding of the condition of your roof and be able to address any minor problems before they become major (and costly) issues.
At a minimum, you should have your roof inspected annually and after any major storm. This will allow you to keep a firm grasp on the life expectancy of your roof and plan accordingly for any eventual replacement.
Extend The Life Of Your Roof With Regular Maintenance
Consistent roof maintenance can extend the life of your roof and lower the overall cost of upkeep and replacement. If you pay attention to the seemingly small issues on an inspection report, you can save yourself the stress of unexpected expenses and extend the life of your roof.
You may not think twice about clogged gutters, debris on your rooftop, or a seam that needs to be sealed. However, if you do not correct small issues like these, they can lead to interior leaks, ruined insulation, and/or a reduction in the life of your roof.
Consider this: Owners of well-maintained roofs can expect to pay roughly $3-5 per square foot during a re-roof; poorly maintained roofs can cost upwards of $12 per square foot to replace. This is an excessive cost that can be easily mitigated with proper regular maintenance.
Know The Conditions Of Your Manufacturer’s Warranty
The companies that manufacture the materials used on your commercial roof have to defend themselves against claims of failure caused by occurrences other than defective manufacturing. Most manufacturers have written clauses into their warranties to limit their liabilities. This protects them if their products are not installed properly or are subjected to abuse.
Many top manufacturers also have a clause voiding the warranty if you do not maintain your roof properly. Be sure to familiarize yourself with your manufacturer’s warranty and adhere to the conditions set forth. Being hit with the expense of a roof that has failed prematurely due is never a welcome surprise. Discovering it is not covered by your warranty could be devastating.
Make A Solid Plan For Eventual Replacement
No matter what amount of maintenance you perform, eventually you will need to replace your roof. By developing a regular inspection and maintenance routine with your commercial roofer, you can have a better idea of when that will be and how much it is going to cost you. Start slowly building that into your budget now. Setting aside funds for such a large expenditure in smaller doses can help alleviate the budgetary stress when the time comes.
The sooner you start to closely monitor your commercial roof, the better off you will be when it comes to budget preparation.
Let us be your partners in the health of your commercial roof. Call us today for an inspection and together we can create a custom plan to protect your investment.