Unplanned and Planned Maintenance Accounts for 60% of Projected Facilities Management Costs in 2020
Owning and operating a building is a constant battle against maintenance needs. A recent Facilio study of property companies found survey respondents expected to spend 60% of their operational spending on planned and unplanned maintenance in 2020. That's why property management firms are on the hunt for ways to streamline building maintenance. Many are turning to central applications, like building management systems, that can collect and democratize building data from all manner of systems.
That means fewer labor hours to check systems, find issues, and make repairs. Using technology to leverage smart buildings means you need less management personnel in the field, as systems will automatically report issues and submit their own maintenance requests. Staying on top of maintenance means lower replacement costs in the long run. Combined, the savings enable an even greater investment in smart building tech, building on synergies and fueling the cycle of innovation that is saving property owners millions annually.
Properly managing a property is a delicate effort to balance costs with needs. Technology can help mitigate costs by reducing labor, maintenance frequency, and replacement costs. With so many advantages, it’s easy to see why so many landlords and property managers are in a rush to make their properties smart buildings.
Read the full report: https://facilio.com/ebooks/state-of-cre-operations-2020-report/
