How Much Money Should Businesses Set Aside For Commercial Roofing Maintenance?
Damage to your roof can be one of the most expensive repairs to pay. However, you do not have to see it hurt your business profits by repairing your building's roof. Here are a few things to keep in mind when setting money aside and building a budget for commercial roofing maintenance.
You may be happy to know that repair costs, like roof repairs, are considered business expenses. This means you can modify your tax base every year, as long as you use roofers to complete the work.
Also, there are a couple of depreciation deductions that will allow you to deduct the cost of your business's property as it gets older. This is based on the property's value and the improvements that have been made to the building since its purchase year.
These deductions are good to keep in mind when creating a commercial roofing budget for your business. This way you do not place too much money into one budget when it can be spent on a project that need funds. A proper roofing maintenance budget should be built around the expected deductions of the business expenses.
Creating a Budget
Roofing maintenance can be costly for business of all sizes. This is why it is best to put aside a budget for just roofing maintenance so that you're not blindsided by these expenses. The cost of maintaining your roof with commercial roofers will vary depending on your location, the size of your building's roof, and the type of roof your building has; consult a roofing expert for advice on how much to budget.
Most commercial roofing companies have a maintenance plan that your business can choose from. There are generally two types of maintenance plans you may be offered by your commercial roofing company; a "reactive" plan and a "proactive" plan. The reactive plan is for roof repairs, while the proactive plan is for preventing damage to your roof. Each plans come at their own cost and can vary from commercial roofing companies.
In most cases, you will find that your business will save up to 9 cents more on the proactive maintenance plan than on the reactive maintenance plan. This means there is about a $900 difference between a 10,000-square foot roof on the reactive maintenance plan and a roof of the same size on the proactive maintenance plan. This is important to remember when discussing maintenance plans with your commercial roofing company.