financial planningEvery building is subject to wear and tear caused by normal use of occupants and exposure to the elements. Delays in maintaining a building usually make it more expensive to repair damage later on. That’s why efficient financial planning for a maintenance schedule is essential in minimizing a building’s operating cost and maximizing its utility. A properly maintained building serves its occupants well, and represents a valuable asset to its owners.

When embarking on financial planning for maintenance, the first thing to do is call a professional inspector to check the building’s exterior and interior. He or she will identify repairs that need to be done and make recommendations about preventative maintenance procedures required to avoid future damage.

Read the inspection report to establish which items need attention immediately and which can wait. Rate each item according to the urgency of repair – on a scale from 1 to 10, with 10 being the most urgent. Then, rewrite the list according to your ratings with the least urgent at the bottom and the most urgent at the top.

Next to each item, write some short phrases that describe the work to be done – for example, replace door knobs or lubricate hinges if the work pertains to a door. Then, to facilitate efficient financial planning, submit each item on the list to repair & maintenance contractors, requesting quotes for every job.

At Belanger Engineering, our team of building science engineers is involved with performance improvement and repair. Our experience with electrical, mechanical and structural projects involves both restorative and new construction.

Financial Planning Strategies for Building Repairs and Maintenance