How a New Roof System Can Add Value to a Commercial Propert
Updated: Jan 17, 2020
A New Roof Installation: An Opportunity to Add Value to a Commercial Property
When a commercial roof needs to be replaced, it would be rather understandable if the first reaction of the property owner was considerably less than positive; more precisely, their state of mind would likely be influenced by visions of cost, both direct (labour and materials for a new roof installation) and indirect (the potential for tenant inconvenience, business downtime, revenue loss, and so on).
In general, property owners are seldom if ever pleased by the prospect of extensive and expensive repair bills. Yet, instead of looking at any roof replacement primarily from the perspective of immediate costs, perhaps the need for a new roof installation should be viewed as an opportunity to invest in and add value to the property.
Yes, the initial and sometimes substantial expenditure associated with a new roof cannot be avoided, but a new roofing system that is well-designed and well-installed can deliver qualitative and quantitative returns both short-term and long-term; these will consist of:
Improved curb appeal
Reduction in repair costs
Lower maintenance costs
Increased energy efficiency
Elimination of mold formation
Reduction in insurance premiums
Improved reliability and protection
Potential conversion to green roofing
As well, depending on the particular type of commercial property, a new roof installation offers an excellent selling feature with respect to:
Attracting new tenants
Retaining existing tenants
Enticing prospective buyers
Appealing to potential investors
Whether their plan is to retain possession of the commercial structure or sell their asset, owners can add value to a property with the installation of a new roof. It is important to note, however, that any potential returns from a new roof installation will be predicated on the quality of the roofing materials and the workmanship of the roofing contractor.