Creating a comprehensive facility budget can be challenging and complex because there are several components to consider and numerous individuals to involve. From maintaining kitchen equipment to hood cleaning, grease trap management, HVAC maintenance, and servicing refrigeration units, these preventative maintenance expenses can add up quickly. When planning your budget for 2023, it’s essential to factor in the rising costs of labor, materials, and equipment as we continue to face supply chain challenges. For example, your plumbing line item on your 2022 budget will most likely have to be adjusted for the next year to allow for cost differentials. Below, the professionals at Addilan Group share the importance of budgeting for maintenance at your commercial facility in 2023 and why preventative maintenance should be included.
What Is a Maintenance Budget?
A maintenance budget is a document that sets the expected cost of meeting your maintenance objectives for the year. Your budget should include information relative to your facility, like location, preventative and reactive maintenance, specialized equipment, new construction, materials and inventory, and hiring and labor costs. It’s also essential to leave room for changes. Flexibility in your budget ensures it can scale as needed and adapt to unforeseen circumstances.
What to Include in Your Preventative Maintenance Budget?
As you prepare your 2023 preventative maintenance budget, analyze spend from past years. Looking back at your multi-site portfolio budgets from recent years will help you anticipate future costs. Some primary things to consider include:
- Did you go over or stay under budget?
- What was your spend breakdown? Did a location, contractor, or seasonal maintenance task use more budget than you intended?
- What was the breakdown of preventative vs reactive maintenance?
Make sure you include actual numbers, targets to hit, and other quantifiable goals for your budget. You should also consider seasonal maintenance needs and break down costs monthly, quarterly, and annually. Each season comes with challenges, and depending on where your commercial facility is located, it’s crucial to keep this in mind when planning your preventative maintenance budget. For example, if your facility is in the New England or Mid-Atlantic region, you experience harsh winters and blisteringly hot summers. Ensure a portion is assigned to commercial property maintenance like snow and ice removal, unexpected power outages, and HVAC maintenance.
Why Is a Preventative Maintenance Budget Important?
Because setting a yearly maintenance budget can be such a monumental task to undertake, many facility managers tend to use last year’s budget and then add a bit more for inflation. While this might seem like a practical approach, it’s not always the best method. Setting a new yearly budget and the correct amount for preventative maintenance ensures you will never run into an emergency you can’t cover. And with it in place, costs related to maintaining your building are easier to predict because they are anticipated from your historical data. Ultimately, budgeting for preventative maintenance saves you money in the long run.
If you’re looking to partner with a multi-site facility management company that can help you stay within your budget for preventative facility maintenance, contact Addilan Group!
Commercial Property Maintenance With Addilan Group
At Addilan Group, we understand the importance of budgeting for maintenance, and our team is here to help your commercial facility with all its preventative maintenance and management needs. Whether your request is local or national, we can fulfill it across all 50 states. If you’re interested in working with a superior facility management company like Addilan Group, contact us at (833) 233-4526 to learn more.
