Facility management

The Real Estate Industry encompasses the many facets of property, including development, appraisal, marketing, selling, leasing, and management of commercial, industrial, residential, and agricultural properties.

Here we will focus on Residential Complexes & Mixed-Use Townships of all sizes.

Current Practices followed by different developers in facility management:

As we all are aware that in the current scenario, developers talk & promise utilities, amenities & services (Facilities) that shall be provided in the complex. Accordingly, they plan, design & deliver as well but at the time of managing the show, all these facilities are handed over to a Facility Management Agency. These Agencies are bound by a flimsy agreement and generally unable to deliver the desired.

All the hype & promises that were made by the developers, unfortunately, never get fulfilled and this results in a huge gap and resentment. So just by managing the facilities, we won’t be able to achieve what is desired.

Role or Importance of Good Facility Management in the real estate industry:

To manage such complexes, we need a holistic approach and management of the complexes at a bigger and broader level which is termed Estate Management (not Facility Management).

Estate Management is responsible for “Harmonious Living” in the complex which is only possible when the entire complex including residents is in harmony with respect to Facilities, Amenities, Utilities, Services, Administration & Norms of the complex.

To achieve harmony, the Estate Management department not only ensures that all such facilities & activities are taken care of in an orderly manner but also makes sure that inhabitants of the complex equally & actively participate and enjoy the same.

Best Facility Management Practices and the benefits one can derive:

The Common Area Maintenance Process & Cost should be transparent

For the maximum efficiency and all-around satisfaction in the complex, we have to make sure the residents/unit owners actively participate in the Estate Management activities of the complex along with the team/agency deployed for the purpose.

The developer must ensure that the Facilities / Common Area Maintenance Services are handed over to the body representative of the unit owners of the complex at the earliest.

It is the Estate Management which creates value and makes your Real Estate – REAL & Really Valuable. A badly managed property with good construction, design, facilities, etc. & at a very good location sometimes can’t be liveable or fetch the real value.