How Roofing Helps To Increase Your Gross Leasing Rates?
Owning property means you are always looking for a way to recoup your investment and get the most on any financial return. There are a number of ways to do this and some are much easier than others. New roofing is a great way to increase the value of a building and increase your investment value too. Even if the building is older, a new roof will go a long way.
Having a gross lease is where the property owner pays for the upkeep of the building as well as annual payments like insurance and property taxes. The tenants of the property will usually only pay monthly bills and rental fees for space. As the property owner, however, maintenance costs are your responsibility and this will include roofing. These are different from net leases where the tenants are responsible for some of the additional costs like maintenance. The biggest issue with gross leases is that as the owner you will constantly have to address problems and this will be reflected in rent rates. Gross lease rates will almost always go up after additional expenses arise. It is essential for property owners to stay ahead of this and predict ways to not fall behind. New roofing can help you achieve this is several ways.
Investing capital into your property is risky but when it comes to roofing, the benefits far outweigh the risks.
- You will get improved efficiency: If the gross lease has you responsible for utilities and energy bills, new roofing will significantly lower these each month.
- Better technology: roofing technology has come a long way and with a reflective coating, stronger bonding agents, improved insulation, and more reliable and efficient materials, roofing lasts longer and saves money.
- Reduced maintenance: The better materials used today as well as installing a newer system will lessen the maintenance required each year. With regular upkeep, you can get a much longer life out of a new roof and better protection from weather damage.
- Happier tenants: new roofing adds a new look to a building which makes it more appealing to renters. With better protection from the elements too, tenants will feel safer in a building with newer roofing. Happy tenants already in place will appeal to new tenants, which means increased leasing opportunities for you.
Any financial investment into a building can come with risks and we understand it can be daunting. With a new roofing system, you get more benefits than risks and in the long term, you recoup the initial investment and then some. Reach out to us today to discuss your roofing options and we will get you the very best for your budget and building needs.