Whether it is within our work or our personal life, we spend a considerable amount of time budgeting and prioritising. We constantly look ahead to match our income with expenditure, as well as putting a little away for use in emergencies. We do this because we know that it is necessary in order to ensure ourselves, our employers, and our businesses remain ‘fit for purpose’.
Sadly, we often do not have the same diligent attitude toward our valuable property assets. Necessary expenditure to keep buildings fit-for-purpose is often overlooked and inevitably, the building owner ends up paying significantly more than they needed to in the long run.
A Planned Maintenance Programme is simply put, a ‘service’ of a property, whether it is a residential, education, commercial, new build or a historic building. In simple terms it’s a health check that takes into account ALL building elements and services to assess their current condition.
The Planned Maintenance Programme comprises a comprehensive list of the maintenance required, which can be prioritised in accordance with the budget available. This then minimises the likelihood of costly emergencies which will inevitably occur if required remedial work is left unidentified or ignored.
The RICS defines two categories which maintenance can fall within:
Within the same document the RICS cites the Audit Commission (2001) in a report highlighting good practice in the housing sector which states that a ratio of 70% planned maintenance to 30% corrective maintenance (urgent repairs) is recommended, as generally carrying out a series one-off repairs is more costly in the long run than grouping works.
This logic can be applied across any building of any size or age. Emergencies happen, but they are costly and should be minimised wherever possible. It is essential to follow best practice when servicing a property appropriately. This can only be achieved by understanding the works that are necessary over a period of time, scheduling and budgeting for them in a manageable way.
Finnegan Property Services regularly provides Planned Maintenance Programmes on residential, education, commercial, and historic buildings. For more information regarding this service please contact us
Posted on 2 October, 2015