Each day is an exciting ride for property managers, from demanding situations to creating delightful experiences. Their eyes do not rest as they continue to observe, assess, note, and report in the midst of all.
There are two worlds, pre- and post-COVID, for the built environment. Around the world, it’s changed the way we plan for events that could become the factors affecting the health and well-being of our patrons, and the operations of the property. Compliance with COVID-19 regulations, and the measures associated shall serve as guidance for an indefinite period. As property managers, our role has expanded further, and we should look beyond and get back to basics by asking a simple question, “Do we have a maintenance and risk management program?”
Fast forward, and one of the critical metrics of this program is “inspection.” Some of the keywords that come along are health and safety, risk assessment, cost, due diligence, statutory obligations, repair and maintenance, insurance, security, and many more. Inspection opens doors to all possibilities, and property managers with the “Hawk Eyes” never cease to rest.
To begin with, I’m outlining a simple three-step inspection approach. First, it’s important to understand the difference between inspection procedures and inspection methods.
Inspection procedures define the process, planning and scope. In contrast, inspection methods specify the type of inspection needed to be undertaken based on the asset type, classification, and purpose of a particular property management lifecycle.
Inspection procedure
Setting up an end-to-end method from acquisition to occupation is critical. It’s part of the due diligence process for taking over a property, recording the building maintenance condition, hazards, or undertaking comparative analysis against competing properties to aid in developing a maintenance and risk management program.
I start by mapping the journey and listing each life cycle stage for a boutique experience. It includes the purpose, procedure, step-by-step instruction, and a workflow chart of each method to further simplify execution.
Inspection methods
Inspection methods specify the type of inspection needed based on the asset type, classification, and purpose of a particular property management lifecycle. The purpose of the inspection is for a property manager to have all the information to ensure continuity of services, and to make informed decisions.
I urge property managers to reflect on different inspection methods and frequency for a broader perspective and an unforgettable experience. These methods prepare you to tackle various contingencies and drive continuous improvements in every aspect of building management.
According to the asset type and class, I recommend weekly, monthly, and quarterly inspections to maintain quality, service, cleanliness, and property value, and to ascertain the performance of all service providers against the agreed KPI/SLAs. Inspections play a critical role in preparing to develop resilient policies. It’s the most impactful competency of a maintenance and risk management program, establishing the state of the building, maintaining aesthetics, and ensuring optimal and uninterrupted services by taking a proactive, rather than reactive approach.
Another value-added advantage of inspections is improving the occupant experience.
Data leverage
It’s essential to keep a record of inspections, but it’s also time to change how they’re documented. Conventional property inspections allow property managers to remedy issues and concerns and take a proactive approach to make their asset resilient towards any future challenges. Making the program digital and automated helps determine condition-based maintenance and avoids routine inspections through data leverage and connection to centralized operations.
Data is collected through routine inspection, property condition report, health and safety or specific monthly report as part of the management of the building. The visual asset inspections for technical and aesthetics purposes capture the data on quality, cleanliness, and property preservation by classifying maintenance problems, improvements, and overall property condition.
This helps buyers and tenants identify all maintenance issues before moving in or taking possession of the property. It also serves as a reference for the occupant when they move out. To mitigate any future issues, it’s a best practice to conduct a semiannual property inspection during the lease to identify any unidentified maintenance problems, helping to ensure tenants maintain the property adequately, comply with the lease terms, and with building regulations.
During the common area inspections, ceiling leaks, dirty or stained walls, dirty AC grills, service elevator lobbies, emergency exit staircases, refuse room and recurring issues should not go unnoticed.
According to Nivedha Sridhar, Director of Content & Growth Marketing at Facilio Inc., the power of “a connected data-driven model of real estate operations changes everything about property maintenance and service quality.” She also notes, “Monitoring the performance of assets with granular visibility allows owners and operators to identify operational gaps in real-time and respond to them through end-to-end workflow automation. It enables anomalies to be addressed through condition-based maintenance and predictive models before they result in downtime, losses, failure, or tenant dissatisfaction.”
Ms. Sridhar goes on to say, “Building owners and operators can deliver more agile services in response to dynamic tenant requests and compliance requirements, while enabling workforce productivity through efficient time and resolution competency. With evolving tenant expectations, regulatory requirements, and market pressures, this data-driven approach to portfolio operations unlocks a resilient and future-ready operating model for the industry.”
The service provider and employer should sign a service-level agreement (SLA) to determine the services standards, which obligate the service provider to meet customer expectations. Performance evaluations can be undertaken periodically, or as agreed upon in the terms of engagement through established performance metrics and penalties on the breaches.
Regardless of the method applied for inspections, it should always remain an essential audited section of property and facility management objectives. Be it manual or digital, the property inspection is critical to sustaining a healthy and attractive property, minimizing risk, and is a silent contributor to constantly increasing asset value.