Managing Commercial Roofing Costs the REIT Way
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Roofing costs can make up the majority of a building’s exterior maintenance budget. For investors in REITs or property management companies, the “roof maintenance expense” line item can make or break an annual budget.
The key to managing roofing costs is to get ahead of unplanned expenses and add predictability to roof performance. This will help to avoid huge spikes in the expense column and lower overall roof maintenance costs.
Consistency
All commercial roofs are not created the same and do not respond the same to environmental conditions. Managing them with the same, consistent, proactive approach can be an effective way to manage your portfolio, extend the roofs’ useful life and avoid costly replacements.
Predictability
Being proactive with repairs and maintenance minimizes leaks and keeps costs in check. Further, keeping up with the recommended care and maintenance on your roofs can extend life and keep them eligible for restorations.
The first step to predictability is assessing the condition of each roof or roof section. It’s important to combine scientific analysis from a core sample with an extensive visual observation to make an accurate determination about the remaining useful life.
Properly budgeting roofing costs helps to maintain profit margins for REITs and property management companies. It can also help to divert budget resources to other areas in need.
Contact Simon Roofing today to take the first step toward keeping your roofing expenses in control.
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