With budgets shrinking all over the country, many building managers are weighing the cost savings gained by deferring or eliminating maintenance tasks against the potential risk of requiring major capital repairs later. Painting schedules are especially susceptible to scaled-back thinking because these tasks are often seen as aesthetic rather than functional on a core level. But before you begin cutting back on paint touch-ups or routine repainting, consider the impact today’s decisions are likely to have on your long-term expenditures.
* Mildew, dry rot and other damage will require more than a fresh coat of paint – issues such as these are likely to require large-scale repairs.
* A neglected building is less attractive to potential tenants – lost lease revenue is a major blow in today’s economy.
* Wooing investors is already difficult – presenting an inviting and professional image throughout your facility is more likely to inspire confidence in your ability to achieve long-term profitability.
Staying within budget while effectively maintaining your building requires planning and innovation. Consider establishing a comprehensive preventive maintenance schedule for painting high-traffic and high-visibility areas, while transitioning the remainder of your site to a predictive maintenance plan. You might also explore opportunities to increase your leverage by partnering with nearby building owners to coordinate large-scale painting projects.
Buildings magazine, Dec 2009, “What a Fresh Coat of Paint Can Do”
BOMA, “Strategies for Creating Asset Value in a Down Economy”