The time and effort devoted to developing and hitting a facility management budget can be mind boggling. This includes the myriad of vendors that you must manage to keep your building in good repair. The annual maintenance costs for an office building in the US is between US$1.6/ft2 and up to US$2.8/ft2 for high end, depending upon whether the building quality. While these costs may not be “revenue generating”, ignoring major repair and maintenance items can prove to be costly in the long run.
Large office buildings usually outsource this function to property managers who charge anywhere between 8-15% of gross rent to handle facility management for the owners, among other tasks. For smaller and owner/operated buildings, finding a solution to your facility maintenance needs can really tax your resources.
Finding a company that can partner with you to handle ALL of your facility needs will save you considerable time and money. Some things you should consider when trying to optimize your facility management budget:
- Does the company have the breadth of resources to handle all of your maintenance issues, including interior work, (commercial cleaning) and other facility services (handyman, repair and maintenance, HVAC maintenance, electrical, plumbing, painting, etc)
- Does the company act as your partner?
- Does the company have the systems to help you budget and schedule your required maintenance items?
- Is the company structured to save you time and money by simplifying your facility issues?