As a property manager, you know that real estate facility management is one of the most importantaspects of your job. But what is facilitymanagement, exactly? Bydefinition, strategic facilitymanagement (FM) is\"a systematic process that integrates people, place, process, andtechnology within an organization to manage the life-cycle of all its physicalassets with the objective of achieving their optimum performance.\" Inother words, it's a way to optimize how an organization uses and maintains itsphysical spaces. There are many different types of real estate facility management services, but some ofthe most common include building maintenance, janitorial services, security,and landscaping.
The benefits of good facility managementare numerous. Perhaps most importantly, it can help to reduce costs. Awell-managed facility will be more efficient in its use of resources, which canlead to lower energy bills, for example. Good facilities management can also improvetenant satisfaction by creating a more pleasant and comfortable environment.Finally, well-managed facilities tend to be more valuable than those that arepoorly maintained.
Poor real estate facilities management can lead to a number of problems,including higher costs, unhappy tenants, and decreased property values. Forexample, if space is not used efficiently, the organization may end up payingfor more square footage than it needs. If maintenance and operations are notmanaged properly, the organization may face frequent repair bills or have toshut down parts of the facility for extended periods of time. In addition, poor facilities management services can result inbad publicity for the community, which can lead to lower tenant satisfactionand decreased property values.
Facility management and property management teamsare two essential pieces of the puzzle when it comes to running a successfulproperty management company. Property management teams are responsible for theoverall strategy and operations of the company, while real estate facility management teamsare responsible for the day-to-day operations of the building or buildings inquestion. Property managers can provide guidance on long-term goals andobjectives, while facility managers can provide expertise on day-to-dayoperations.
The property management team shouldprovide the facilitymanagement teamwith regular updates on the status of ongoing projects and upcoming events.This will help the facilitymanagement team tobetter understand the needs of the property and to plan their work accordingly.In addition, the property management team should keep the facility management team informed of any changes orupdates to the property management software or systems. By keeping each otherup to date, both teams can ensure that all aspects of the building are beingproperly managed. Workingtogether, the property management and facilitymanagement teamscan create a successful property management company that provides a high levelof service to its tenants.
What are your thoughts on facility management? Do you think it's essential for propertymanagement companies? Let us know in the comments!
