At Metropolitan Risk Advisory we are always looking for innovative programs to help our construction firms, and real estate owners maximize and efficiently deploy their resources. This is yet another example of what we believe. The NYC Cool Roofs Program Info offers a unique opportunity for small construction firms to market and educate their real estate clients on an innovative new program offered by both the New York City Department of Buildings, and NYC Service to help reduce greenhouse emissions by 30 percent by a target date of 2030, which is part of Michael Bloomberg’s PlaNYC program.
The Benefits To Building Owners:
* May reduce Air Conditioning Costs by 10 to 30 percent on sweltering summer days when almost 40 percent of electricity use is attributed to cooling the building.
* Increases Longevity of Roofing Membranes & Air Conditioning Equipment since the roof membrane and units don’t reach those high temperature thresholds that tax both the cooling equipment and breaks down the roofing membranes which shortens their life spans.
* Reduces overall electric utility usage.
* Reduces carbon emissions in our own backyard. Creates a marketing opportunity to show community goodwill showing the building owner as being socially responsible.
* Assists in the compliance of the NYC Building Code requiring “simple buildings” to comply with 6 of 7 items listed in BC 28-308 & BC 1504.8
* May qualify you for a LEED point.
* May qualify as a capital improvement to assist in your application to increase rents.
The Benefits To Construction Firms:
* Allows you to contact your core real estate clients to notify them of the program, and the benefits, providing significant value add to your most important real estate client relationships.
* Typically when performing one job on a building the NYC Real Estate Owner will have other small or large job opportunities that may be added to the application of the NYC Cool Roof program increasing sales and margins.
* Gives you a marketing opportunity to pick up new customers. Why not approach a Real Estate Management firm and offer a bulk deal to apply the material to all of the buildings in their portfolio. Do a quick cost benefit analysis showing the tremendous benefit to the building owners, and managers for doing the work. Build new relationships, pivot to other work.
* Get on the NYC Approved Vendor list so your construction firm can be listed as one of those who can do the work. Creates significant traffic for your business to engage with the end user buyer of your services without significant marketing costs.
* The work is low risk, and should not cost much on either payroll or sales basis for your NY Roofers Liability Insurance, or NY Painters Liability Insurance.
* Make sure you properly classify this work on your NY Workers Comp Insurance policy so you are charged the correct lowest premium point possible. This is critical because if you do this piece wrong you can lose all your profits thru NY Workers Compensation Insurance. For more info and how to properly classify the labor component of this work contact one of our Risk Advisors who can help protect and increase your profit margins.
We hope you found this helpful, stayed tuned for more unique and intuitive opportunities from your friends at Metropolitan Risk Advisory.