Procrastinating Your Budgeting Process this Year Could be Disastrous

Whether you find the budget process to be an exercise in pain or the highlight of your day, we all know that it is a crucial component of successfully managing a business, particularly if your business is managing a portfolio of retail and commercial properties. Ensuring you have all the data points needed on each of the properties in order to budget properly can be an arduous task.

“The unfortunate reality regarding budgeting repairs and maintenance for any part of what is left for 2014 and into early 2015 is that there is a compressed cycle to get things done,” said Dale Tyler, president of National Roofing Partners. “It’s important to consider this compression when thinking about any upcoming budgeting needs.”

So what does that mean for you?

We Started Out Behind

The extreme winter weather put a stranglehold on maintenance and repairs, particularly for building envelope and commercial roofing. Not only was the winter particularly harsh, but it was also quite long, lasting well into the early spring. This is the time we often begin catching up on commercial roofing repairs that had to be delayed due to snow and ice. However, there were some powerful winter storms that occurred late, putting the entire process of repairs and maintenance at least a month behind.

The Summertime is School Time

It is typical for ISDs to schedule their building and roofing maintenance during the summer, when there are significantly less students and staff there to be impacted. These are often scheduled well in advance and on the books to complete before school starts. Now we have a situation where winter repairs and summer work are overlapping, simply because of the extended winter weather. Commercial roofing companies are already working overtime to get everything completed within the time frames left.

Mother Nature is Not on Vacation

“Spring and summer weather will not be on hold just because we are short on time this year. We have already seen some major weather events, and can expect to see more,” said Tyler. “Hurricanes, tornadoes, El Nino, and even droughts will all play a part in impacting commercial properties. Making sure you get assessments scheduled now will be the only way you will have the information required to do any kind of budget later.” Just a glance at the national weather forecast for this week shows the types of weather events that can create challenges for commercial roofing repairs:

  • Midwest – severe and heavy rain, gusty southerly winds and lingering thunderstorms.
  • South – potential tropical development, some thunderstorms and gusty winds with heavy rains predicted.
  • Northeast – scattered showers and thunderstorms with gusty winds and some flooding.
  • West – again showers and thunderstorms, with gusty winds up to 40 MPH in some areas.

So what steps should you take now in order to ensure you get the information needed to prepare your budget later in the year?

“Get all commercial roofing assessments and inspections scheduled as early as possible. Otherwise, you run the risk of not getting them at all,” said Tyler. “Get with your national roofing partner to find out the timing, so you can appropriately schedule. Without the right assessment, you’ll be guessing as the type and intensity of maintenance and repairs needed. After the intense weather we’ve seen, it is important to find out the state of your commercial properties.”

Go Enjoy a BBQ

If you are in a part of the country that is not impacted by thunderstorms this 4th of July, then by all means enjoy your typical Independence Day celebration! But when you get back next week, make a point to move up the priority of scheduling commercial roofing assessments for all your properties. You’ll be glad you did!