How to Budget for Office Maintenance

How to Budget for Office Maintenance
How to Budget for Office Maintenance. Image source: Pixabay

Owning and managing any office facility comes with a long list of responsibilities from caring for tenants to ensuring the building itself remains open and operational.

Accidents happen, repair costs can add up quickly, and if you haven’t budgeted well enough, you could be in for a long and arduous process of applying for credit to cover the unexpected expenses.

The good news is that taking the time to plan and budget for office maintenance ahead of time can save you from some major headaches down the road. That’s why we’ve outlined five steps to budget for your office maintenance.

1. Consider the costs

Before you can create any budget for your office maintenance, you first need to understand the overall costs, beginning with the fixed costs. This includes everything from routine cleaning to landscaping and regular maintenance -whatever it costs to keep your office open and functioning.

One-time and seasonal costs are the next thing you need to consider. Break down your maintenance expenses by month and quarter to see where your expenses are going. You might spend more on landscaping during the summer months, and more on heating during the winter. Make sure you note the differences and plan accordingly.

Unexpected costs are important to consider. You can take a look at the history of your facility’s maintenance expenses and get a better idea of where unexpected costs can arise.

2. Pay attention to the little things

Small expenses can add up and throw your entire budget off course if you’re not prepared. Software licenses, IT professionals, and invoice processing fees are only a few expenses that can go unnoticed if you’re not paying close enough attention.

There are hidden costs associated with every facet of an office, so break your facility down into segments and make sure every detail is accounted for.

You can save yourself money in the long run by looking for alternatives to regular maintenance as well. For example, would maintaining an older and less efficient copier/printer be more or less budget-friendly? It might be worth the one-time expense to invest in a newer, more efficient printer.

3. Consider trends

Alongside analyzing historical costs of your office maintenance, you should be considering current trends in facility management trends and planning your budget accordingly.

Will you be remodeling your office this year in order to enhance and streamline your company’s productivity? Calculate the costs of the remodel against your projected increase in revenue as a result of it. This will help you plan for both unexpected and expected expenses.

If you’re planning a remodel, you can work closely with a commercial construction firm such as to oversee the entire project. For those looking to hire outside experts, FMP Construction offers an informative guide on the typical construction process here.

4. Leave room for more than you think you’ll need

The world is a crazy place, and you need to be prepared for unforeseen circumstances. Your company’s revenue projections might have you thinking that you’ll be able to afford everything you need, but as we’ve seen in the last year, something as small as a virus can derail any business.

Create multiple revenue projections so that you can plan for both the best and worst case scenarios. Once you’ve done this, make sure to still leave enough budget room for emergency costs.

5. Present a comprehensive plan to your executives

After putting in all of the time and effort to build the most cost efficient office maintenance budget possible, your last task might actually be the most difficult. Presenting your budget to the office executives and getting approval can be a difficult task in itself.

Make sure you emphasize value and efficiency wherever possible. Present with confidence and show them that you’ve planned for the worst and that your company will thrive in part due to this budget.

Conclusion

Whether you’re a business owner, or a facility manager, budgeting for office maintenance can be a daunting project. If you follow these steps closely, you’ll be well on your way to presenting your budget plan and getting approved.