Maintenance costs as percentage of property value
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Tmurphy



Joined: 11 Dec 2006
Posts: 2
Location: Bolton, MA

PostPosted: Mon Dec 11, 2006 9:13 am    Post subject: Maintenance costs as percentage of property value Reply with quote

I found The Business Side of Preservation workshop very helpful. One tip that I am putting to use is trying to get something published as a marketing tool. I'm writing an article about how important it is to keep up on the maintenance of an antique structure. John told us at the workshop that typical maintenance adds up to about 4% of a property's value but can be as much as 12% for an antique structure. Do you have a source for these figures? I think this is a very intesting and important point. It seems to me that maintenance costs skyrocket when buildings are left to deteriorate to the point where a building's fabric needs to be replaced. Keeping up on the maintenance not only keeps your property looking great but it saves you from more costly repairs in the future.

Thanks

Tim

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Timothy Murphy
Colonial Barn Restoration, Inc.
www.colonialbarn.com
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johnleeke
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Joined: 20 Aug 2004
Posts: 2922
Location: Portland, Maine, USA

PostPosted: Mon Dec 11, 2006 11:45 am    Post subject: Reply with quote

Those percentages are examples from a formula I have developed over the years. I use the formula in my consulting work when I am setting up maintenance programs. The formula is based on property value and considers variables such as what type of vaulation, type of property, type of organization of ownership, condition of buildings, etc.

See the Managing Maintenance report for more on maintenance theory and practice. (found in the Compendium, or at:

http://www.historichomeworks.com/hhw/reports/reports.htm

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by hammer and hand great works do stand
by pen and thought best words are wrought
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