Building Maintenance Cost Projected to Increase in 2020
As technology continues to proliferate every industry, the commercial real estate industry continues to evolve in tandem. With every technological advancement, the possibilities for building operations increase. A welcome change from just a decade ago when building operations were markedly more resource-intensive, slower, and full of ineffective solutions.
That said, there’s still more to do. In a survey with CRE leaders and FM experts, Facilio found that building operations in the States is expected to increase in 2020. From an average of $11.80 in 2019 to an average of $11.90 per square foot per annum in 2020. The projected increase points to the ongoing need to improve building operations and management.
One of the bigger costs is siloed data from the wide array of systems in a building: HVAC, security, lighting, tenant management, just to name a few. Each system has their own “vendor-make and communication protocols.” Which leads to unnecessary communications with different vendors and additional analysis to access building performance data. This wastes time and money.
The good news is that centralized building operating systems are becoming more common. Such systems combine and analyze disparate building system data and in turn recommends, or automates, operational adjustments to help improve building efficiency and reduce costs. And it’s only getting better.
Read the full report: https://facilio.com/ebooks/state-of-cre-operations-2020-report/
