Is the roof of your commercial building starting to develop leaks and other issues that can't be easily fixed with basic maintenance and repairs any longer? Before you commit to the mess and expense of a full roof replacement, consider a restoration instead. Roof restoration helps your business save money in five different ways.
1. Skip Full Replacement
The savings from choosing restoration over commercial roof replacement are so dramatic that they're the main reason most companies make the choice. While obviously the price per square foot varies greatly depending on the condition of your roof and what material is currently on it, you can expect to save more than 50% on both labor and material costs by going with restoration instead of a new roof. If you're not sure where you'll come up with the money for roof repairs, trimming down the costs by such a large percentage makes it easier to fit the necessary repairs into your budget.
Of course, you can't assume that your roof is suitable for a restoration process until it's inspected by a commercial roofing team. If there's extensive damage to the roofing material, restoration may not be enough to fix the problems. Tackle your aging commercial roof early instead of waiting until it's too late for an affordable procedure like restoration.
2. Reduce Insurance Costs
Concerned about how much you're spending for insurance to protect your building in case of a major disaster? Spending a little right now to improve your roof through restoration procedures could lead to long-term savings on insurance premiums. If you're aiming to save money in this way, make sure your roofing repair team chooses a restoration membrane or coating product that increases the roof's resistance to fire and storm damage. Then forward documentation from the manufacturer of the restoration product to your insurance provider to show how your roof has been improved and see if you qualify for a discount.
3. Deduct Restoration Spending
Many business owners have no idea that there's a major tax difference between a roof replacement and a restoration procedure. A brand-new roof is considered a permanent investment that slowly depreciates, so you can only claim the depreciation value on each year's tax forms. In contrast, you're allowed to claim all of what you spend on a restoration for your commercial roof the same year as the work is done because it's considered a maintenance investment instead of a capital expense. If you're looking for a way to balance out your tax liability this year, you might as well get a more reliable building out of the process, too.
4. Limit Construction Interruptions
Don't forget to consider how you'll run your business as the roof of your building is being torn off and rebuilt. Spending weeks or even months shut down for construction could jeopardize your company's stability and cash flow, and keeping your business running during construction can be difficult to impossible. Since roof restoration doesn't involving demolition, you'll avoid major construction interruptions like
- noise created by the crews cutting through the roof and tossing the debris into the dumpsters.
- dust and debris flying around the building, including in your retail or manufacturing areas.
- loss of parking spaces and interrupted access due to the heavy machinery parked around the base of the building.
5. Cut Cooling Costs
Finally, the right commercial roof restoration product can also trim down what you spend on cooling the building during the summer. There's no need to completely replace the roof just to cover it with a reflective cool roof product that sends more of the sun's heat back into the air above your roof. Whether your building has a flat or sloped roof, the right roofing team can find the perfect restoration membrane or coating to meet your goals for reducing cooling loads. On top of the ongoing energy savings, you may also qualify for state and federal energy efficiency rebates and tax credits.
For more information about commercial roofing, speak with a remodeling contractor.