A well-managed maintenance and risk management plan increases maintenance efficiency, control cost, extend the life of equipment, ensures the safety of residents and staff satisfaction levels. A property manager must be able to understand.
Maintenance: keeping something in an existing state.
Repairs: fixing something that is broken.
Maintaining property in good condition is the first step towards managing risk associated with real estate management:
Risk management: process of controlling or reducing risk to acceptable levels. It is protecting the owner’s asset, the property’s residents and guest, and the management company.
Maintenance and risk management go hand-in-hand and are key factors affecting the health, viability, and successful operation of the property.
As problem solvers, site managers are expected to evaluate situations and anticipate consequences. The best way to solve problems is to know and understand the risk, and then manage them appropriately.
Important aspect of proactive maintenance is the creation of maintenance and risk management plan. A maintenance and risk management plan is a structured plan created to preserve, protect and enhance the property. The plan consists primarily of detailed descriptions of the specific tasks to be performed at the property according to a reasonable schedule. Specific requirements for each property vary depending on its age, condition, size, location, and complexity as well as the number and mix occupants and the frequency of turnover.
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