Challenges in Real Estate Maintenance
In real estate, maintenance issues often stem from fragmented and incomplete information, creating a “black hole” of data leading to two major problems.
Running equipment until failure
Property managers may only address equipment issues after breakdowns occur without timely information, leading to costly repairs and downtime.
Overpriced maintenance contract
Lack of transparency often leads to inflatedor abusive maintenance contracts. Suppliers may know more about the equipment than the property managers themselves.
Preventive Maintenance
Maintenance Contract Management
The choice of contractors and effective negotiation can significantly impact operational expenditure (OpEx) costs or capital expenditure (CapEx depending on how they are handle and apply.
Contractor Reputation
Consider the reputation and track record of contractors in terms of quality and reliability.
Value Engineering
Discuss potential cost-saving alternatives with the contractor without compromising quality or safety.
Challenges for Property Manager in Preventive Maintenance
The most frequent maintenance operations are corrective maintenance, carried out corrective maintenance, carried out after a failure, or preventive maintenance, to reduce the probability of equipment failure by degrading the service rendered.
Understanding the Impact
Equipment Lifecycle and Maximize Warranty
A portfolio level and the analysis indicated an NPV of $2 billion over 25 years with a $39 million per year or $0.33/square foot preventive maintenance program.
By increasing the equipment’s lifecycle through preventive maintenance, the business would realize a 545 % ROi.
Fragmented systems
- Information is dispersed across various, non-integrated programs, making it challenging to maintain a comprehensive overview.
Lack of scalability
- Expanding maintenance across a growing portfolio of diverse property types can be difficult.
Inadequate support
- Many systems lack adequate customer support and training resources.
High integration costs
- Connecting disparate systems for seamless dataflow is often expensive and cumbersome. Maintenance solutions frequently come with unexpected fees.
Steep learning curve
- Managing multiple tools requires substantial time and resources for training.
Security concerns
- Data privacy and security are ongoing concerns in managing building operations.
Balancing Day-To-Day Operation and Equipment Maintenance Goals
Documenting Building Memory to Handle The Day-To-Day Aspects of Each Building and Anticipate Issues Before They Even Rise.
Real estate management’s main objective is maximizing property asset longevity while ensuring optimal performance.
This requires balancing scheduled maintenance downtime with keeping systems running efficiently.
Types of technical maintenance operations :
- Corrective maintenance: Performed after equipment failure.
- Preventive maintenance: Aims to reduce the risk of equipment breakdowns by addressing potential issues before they escalate.
Why Opting for a Proof of Preventive Maintenance?
The primary objective of the production activity is to produce as much as possible, for as long while meeting quality targets, while maintenance aims to ensure maximum maintenance is to guarantee maximum availability of the production tool.
This objective necessarily requires production to be stopped for a given period.
Maintenance as a profit center : Source : Jones Lang Lasalle in a case study
- 545% of returns on investment + Savings of $0.33 per sq. ft.
Reduce costs
Streamline part procurement and minimize downtime by ensuring the right components are always available.
Enhance safety
Preventing equipment failure lowers the risk of accidents.
High-quality components
Ensure the use of reputable suppliers for reliable, long-lasting parts.
Extend equipment lifespan
Proactive maintenance reduces wear and tear, extending equipment functionality.
Leverage data
Integrated supplier information allows for quick, informed decision-making.
Streamlined communication
Simplify communication with suppliers, reducing errors and speeding up response times.
Improve efficiency
Optimized maintenance schedules enhance overall operational efficiency.
Faster procurement
Quickly source replacement parts, reducing downtime.
Strengthened vendor relationships
Build strong partnerships with suppliers, ensuring a steady supply of necessary components.
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