As the owner of a commercial building, you want to keep every aspect of your property in top shape for as long as possible. Your roof is one of the most important pieces of the structure, and defects and repairs can put a major dent in your wallet not to mention endanger your tenants and their belongings.
If you're a new residential or commercial property owner in Las Vegas, there are a lot of things you should know about our valley. Undoubtedly, you know that our weather is beautiful for most of the year. You’ve probably been warned about the intense heat of the summers and enticed by the mild winters. Well, there is one more seasonal weather change that Vegas experiences yearly, and that is the “monsoon.”
Capital improvements can have a hefty price tag, but many business owners can defray some of these costs when it comes time to file their taxes. If you repaired or replaced your roof recently, you might be wondering how to account for this and whether it will reduce your tax burden. In many cases, you will be able to write off some of the expense of replacing your roof, but much of this will depend on the state of your roof when all of the work is finished.
When you purchased a commercial property in Las Vegas, you thought property ownership out here would be smooth sailing. After all, rain is infrequent at best; we are not plagued by earthquakes, tornadoes, severe hail storms, or tsunamis; and the winters don't get cold enough that you need to worry about the weight of the snow collecting on your roof. There's just one thing... that big fiery ball up in the sky. The sun is not a building's friend.
Roof repairs are expensive, so it’s understandable that building owners are hesitant to even get their roof inspected. This might manifest from fear of an inspector uncovering hazards requiring pricey work (or mistrust of the inspectors themselves) but also of adding the cost of the inspection to the already daunting price tag of potential repairs. However, a commercial roof inspection should be the least of any owner’s concern as sticking to a regular inspection schedule can lead to future savings that your wallet will thank you for.
If you own a commercial building in the Las Vegas valley, the odds are that it has a flat roof. While these are popular among builders and business owners due to their low cost and ease of maintenance, if you fall behind in keeping up with repairs, your roof could quickly deteriorate in the event of a major storm. Sometimes you may not know you have an issue until it’s too late and your leaky flat roof turned the inside of your building into a swimming pool.
Real estate can be a fantastic way to build wealth, and purchasing commercial properties is a great way to get in the game. However, whether you are the owner of the property, or responsible for reporting to the owner, you are beginning to realize, commercial property maintenance can be expensive. Between mortgage payments, insurance, maintenance and repairs, and utility bills, the cost of owning a property can be staggering. It seems like every other week, something needs to be repaired, replaced, or paid for. Thankfully, there are some things you can do to save money (and help out the environment) such as repairing or maintaining your commercial roof.
Are you sure your insurance will cover wind damage to your commercial roof? Last year’s hurricane season was the most expensive in US history, and there were thousands of reports of tornado damage as well. Increasing incidents of extreme weather have led to billions of dollars in commercial roof repairs caused by everything from wind and hail to flooding and fires.
As the owner of a commercial building, you want to keep your investment in good shape. Not only that, but maybe you have experienced firsthand how costly a commercial roofing replacement can be. It is never a good day when you find out you have a leak in your building, but thankfully, there are proactive ways to extend the life of your commercial roof.
As a commercial building owner, you have plenty of expenses when managing your property and keeping tenants happy. While not all bills are within our control, utilities, especially those pertaining to energy usage, can generally be reduced to a point. The trick is largely in knowing what improvements will lead to the greatest reduction in bills, but there might also be some ideas that are less obvious yet still effective. Here, we’ll cover a few of them so that you can stop spending so much on energy consumption and funnel that money elsewhere.