When we manage property it is important to know just what we are managing. So, we need to think: just what is the difference between facilities management and property management?
We should therefore think about just what is involved with each type of management to better understand the differences. The more that we read on the subject, the clearer we will be. Our aim here is to have you understand the main features and so differences to more effectively manage whichever area your management role involves. If you need further advice, you may want to speak with advisors like Michael Teys and book a consultation.
What is Facilities Management?
Facilities management involves dealing with day-to-day operations concerning buildings. This will include any repairs and maintenance and dealing with it promptly so that occupants are not inconvenienced. Also, facilities management will include managing energy, security, landscaping, and utilities.
So, facilities management is about the services and the tools which will support the functionality of property along with the safety and sustainability of buildings, their grounds, and their whole infrastructure.
A branch of facilities management will be lease management and its administration and accounting functions. Also, emergency management of buildings and the continuity of businesses.
Facilities management is important to save costs. Managing equipment and premises will reduce maintenance issues and so save on those costs. This type of management will focus very much on prevention as opposed to treatment because the problems can be dealt with before they occur.
How Do We Define Property Management?
The true definition of property management is the managing of property that is owned by another entity or person. It is a job where someone is the custodian of a property or group of properties and is responsible for them.
A property manager will be responsible for coordinating and supervising building maintenance and work orders. They will carry out light handy work and cleaning and be directly involved in resolving the issues, concerns, or complaints of tenants. This role will also include advertising and showing prospective tenants the units that are available to lease. They will also collect and deposit rent. The job is very much one of communicating with all concerned and a role that involves multi-tasking. An example could be a professional Airbnb management company, which would manage the letting of accommodation on behalf of an owner, offering services such as meet and greet, cleaning, check-out, ad creation, and communication with the guests.
Difference Between Facilities and Maintenance
The difference between facilities and maintenance can be defined as the difference between the long and short-term view of a facility as a whole. Facilities management is long-term and looks at the picture as a whole, whereas maintenance managers will, in the short term, ensure that maintenance is kept up to date so that things run smoothly daily.
How a Building Manager compares to a Property Manager
The difference here is that a building manager will manage a single property as opposed to a property manager who manages multiple properties. In the latter, these can be a row of houses or several business premises whether for industrial or office use. It requires far more coordination to manage several properties and makes sure that they are being managed with equal attention to their tenants. A business will not, for instance, want anything to hamper its activities as lost time will invariably mean lost profits. Residential tenants will have equal demands when they want to live a comfortable life without problems.
In conclusion, the above will hopefully provide you with a better understanding of the differences between facilities and property management, along with some other definitions concerned with the management of properties and tenants. It all needs to be managed for whatever purpose the building is being used for. These types of roles involve dealing with people, filling properties, elements of maintenance, and generally keeping tenants happy once they are in the properties. Anything that needs putting right should be attended to promptly so that satisfaction is achieved for all and further maintenance is not required because of a problem not being attended to within a reasonable amount of time.