Below is the updated policy for building repairs and
improvements. We feel this provides a better explanation of repairs and
where the responsibility of cost falls. Send any comments/questions to inicorporate@newszap.com
Building Repairs & Improvements
Many building repairs or improvements are subject to the terms of
the lease with the landlord. For buildings owned by Independent, we tend
to follow those outside leases. Repairs and improvements
generally fall within three different areas: Emergency, Preventative (wear and
tear) and Cosmetic (Improvements).
- Emergency repairs: Such repair
that require immediate action, do not require a cost justification.
Operations should always notify inicorporate@newszap.com
of the repair so that a quick determination can be made if the repair
falls under the company insurance.
- Preventative (wear and tear)
repairs: It is recommended that two quotes are obtained for cost
comparison. A cost justification is required if the cost to
repair is $500 or more.
- Cosmetic (improvements):
Requires a cost justification if cost is $500 or more. It is also
recommended that a couple of quotes for cost comparison are reviewed by
the operational managers.
For buildings owned by Independent, the expense for major needed
structural repairs (i.e. roof, walls, flooring), major mechanical
systems for heating and plumbing, or parking lot will be absorbed by
Independent as the landlord. Otherwise, other repairs as well as improvements
within the building will be the expense of the operational division (tenant);
unless it is determined that the improvements are required as part of a major
repair to the building. In this instance, each case will be evaluated by
the CEO and Corporate Vice President separately to determine the best
method of applying the costs.
Revised 11/1/2018
