Financial planning for your buildings future
Reactive repairs can lead to major financial outlay for buildings, and as with medicine, prevention is better than cure! A robust Planned Maintenance strategy will anticipate and plan the timescales for major expenditure on cyclical repair and maintenance of the building fabric and M&E services, giving you clarity on what to expect and the ability to plan ahead for any big costs.
Implementing a preventative planned maintenance (PPM) regime ensures that your building is kept in good condition, meaning fewer ‘unforeseen’ defects causing damage to the building, downtime on critical systems and services, and disrupting tenants work and use of the building. Most leases will also set out obligations on the lease parties to maintain and repair, and implementing a PPM protects landlords in particular from breaches of the lease and helps to set appropriate service charge collections to prepare for the future outlay. By maintaining the overall health of a property, through targeted cyclical maintenance, clients will maximise both profitability and saleability.
Cardoe Martin has extensive experience advising owners including commercial landlords, investors, asset managers and managing agents on all aspects of repair and maintenance in both the residential and commercial sectors and have advised on a wide range of property classes including commercial office buildings, retail parks and centres, industrial and
The report itself will detail both required, and
Undertaking a PPM schedule will enable a property owner to allocate monies to ongoing cyclical maintenance. Most PPMs will range from five to fifteen years and may be adapted towards the end of the term to reflect changes in the condition of the building, any new legal regulations or increased cost of works.
FREQUENTLY ASKED QUESTIONS
Why preventive maintenance is better than reactive maintenance?
Contractors will be called in at short notice to undertake emergency works when reactive maintenance is required. This can be inconvenient and costly as specialist contractors will charge fees at a higher rate. Extreme cases, such as excessive water damage or structural issues, may require the property to be vacated for safety reducing revenue and causing inconvenience to tenants or residents.
A preventive maintenance plan will pre-empt many problems from occurring and will help to
What is included in a planned preventive maintenance schedule?
This depends on your requirements, lease obligations and the construction and facilities of a building, but will normally cover:
- Roofs, external elevations and finishes
- External grounds, lower ground areas and walkways
- Internal common parts such as service and plant rooms
- The building services associated with the Landlord’s areas and demise
- A sample of the communal areas Landlord’s risers
- Any ancillary elements under the Landlord’s demise
What specialist services are included?
Cardoe Martin has a number of associated specialist engineers and building maintenance companies that we will instruct to ensure that all aspects of the health of the building have been considered. This also has the benefit of resulting in centralised co-ordinated reporting which is overseen by ourselves. Typically this includes mechanical and electrical services engineers and vertical transport engineers relating to lifts and stairs,
What are the typical time scales once instructed by a client?
Once we have obtained all relevant information such as floor plans, sample leases
What are the advantages of a preventive planned maintenance report?
Implementing a strategic preventive maintenance plan will result in reduced costs as a result of minimal repairs, both reactive and planned. This could also relate to machinery and equipment on site, as well as the building itself, reducing mechanical failure or breakdown causing delays and risk of injury.