Sometimes the only way to learn is by making mistakes, but building maintenance mistakes can be costly! In this case, it’s advised to learn from other people’s experiences. One of the first mistakes facility managers can make is with budgeting. Knowing how to budget for building maintenance is one of the quickest, most stress-free ways of keeping your property in top condition.
Here are 5 common mistakes you can make when budgeting for building maintenance, and how you can avoid them:
Emergency fixes are more expensive than planned maintenance. And if you’ve noticed missing roof tiles or a crack in the wall, it’s already too late for the most cost-effective maintenance option.
When you’re planning your building maintenance budgets for your school, strata residence or commercial property, cost out a proactive maintenance schedule and stick to it! Regular, preventative maintenance will keep disruptions to a minimum and help keep your costs manageable. Check out our building maintenance service page for more on what a plan can cover, and how it can help you manage costs.
It’s easy to blow a budget that wasn’t set out correctly in the first place, and unless you're a building maintenance expert it’s easy to under- or overestimate costs. Whether you’ve miscalculated the price of materials, or underestimated the time and amount of labour a project needs, “blowing the budget” is all-too-familiar for many of the best-intentioned facility managers.
If you’re scoping and costing out a building maintenance project and want to build an accurate budget, it may be worthwhile to ask for professional help. Contact a local building maintenance company and see if they’ll give you a free, no-obligation quote for the work you plan on doing. You can capitalise on their experience and also start forging relationships in case you ever need an emergency repair!
Scheduling repairs and maintenance during peak season is generally more expensive. The best time of year to work is low season, when building maintenance companies tend to have more time and don’t charge a premium. Without bearing this in mind, you may find you blow your annual and project budgets unexpectedly.
Plan ahead and book your project for the right time of year — chat to your intended service provider ahead of time to find out what their quietest periods are, and book accordingly.
The large annual budget allocated to your property and its upkeep can seem unending — but treating it as such is an easy way to overspend on building maintenance and come up short.
Avoid authorising too much, or too little, for necessary building maintenance by understanding your budget per department or building, in relation to your holistic annual budget. Practising investment-based budgeting, and treating facilities like a company that offers services at certain prices (that includes cost of upkeep) can help you understand costs better and prepare accurately.
Always plan for the unexpected when budgeting for building maintenance. Building in a buffer gives you the flexibility to adapt financially to unscheduled events that might delay your project, or pay for unexpected repairs that your initial plans may uncover.
For instance, we were once asked to quote for repairs to “dry rot” at a Caloundra strata complex, only to find that they needed urgent, more extensive structural carpentry work done to fix their problem (read more in our case study). With a buffer, you’ll be able to okay such unexpected scope changes without thinking twice.
Professional companies are the best place to go for advice on how to budget for or schedule your own building maintenance project (leaving your buffer practically untouched). They’ll be able to identify what needs to be done and when, who can help, and which materials you’ll need. Some, like First Response, offer no-obligation quotes and are happy to chat through your budget with you.
Start the conversation — contact us and get a quote on your next project. It’s a fantastic way to check your numbers, and tap into expert tips that can help you get your project done on time, within budget.