No matter how you look at it, roofs are expensive – from the initial installation investment to ongoing maintenance expenses, they’re a budget item to be reckoned with. They're also among the most important investments you can make in your property. Here are some ideas to help mitigate those costs and make sure you’re getting the proper value from your roof investment.
Work Tax Laws to Your Favor
Section 179 of the Tax Cuts and Jobs Act can bring big breaks to companies' budgets. Beginning with tax year 2018, the IRS permits deductions up to $1 million as an expense for qualifying property placed in service after 12/31/2017—double the $500,000 maximum deduction, which was previously in place. Additionally, the phase-out amount was increased from $2 million to $2.5 million, meaning you can spend more before your tax credit starts to dwindle down. Starting with tax year 2019, these amounts will be adjusted for inflation.
Please note that Royalty Roofing is not able to know how the new tax law will affect your specific situation, and do not make any guarantees as to your company’s eligibility. We suggest that you discuss it with your tax professional. You can read more about the tax change in this blog post.
Repair or Replace?
Every roof will meet its end of life at some point, but if you're able to repair- at a relatively low cost – minor damages as they occur, you'll greatly extend the overall life of the roof (and your bottom line). However, there will come a time where the ongoing cost (and headache) of repair will outweigh that of a new roof. Plus, continuing to repair rather than replace the old roof can add costs to a new installation once the “replace it” decision is made. That’s because, over time, ineffective and inconsistent patching and other maintenance can allow water to penetrate the membrane and cause permanent damage to roof system components, including insulation and the roof deck itself.
Retrofit Your Metal Roof, Rather than Replace It
If you have a structural metal roof that’s deteriorating, completely replacing it with new insulation and new steel addresses all the problems – until they begin again, because the new metal roof will have the same vulnerabilities as the old roof. This method is also costly, involves the use of heavy equipment, and is disruptive to a building's normal operations, often exposing the building contents to the elements while work is performed.
A great alternative is a single-ply membrane metal retrofit system. These systems are installed right over the existing roof deck, and include additional layers of insulation to improve energy efficiency and provide a smooth surface for the installation. It can typically be installed at a fraction of the cost of a replacement metal roof, without disrupting your building operations.
Pick the Right Contractor
All roofing systems have their pluses and minuses. Ultimately, the long-term success of any roofing system falls on the installing roofing contractor and their installation quality. The roofer you choose should have a solid reputation and experience with all aspects of the roofing system that’s right for your building to help ensure that your investment pays off in the long run.
At Royalty Roofing, we specialize in installing commercial roofs that are built to last. If you're ready to work with a reputable commercial roofing company that has your best interests in mind, reach out to our team today!