A residential property is a place where people live, where they come home to after a hard day’s work, to some it is also a statement of their status and lifestyle. It is therefore only natural that people expect the property that they live in to be comfortable, peaceful and conducive. It is also reasonable that the property owners expect to enjoy the common facilities, equipments and common areas in the estate that they live in and expect them to be well maintained. With the amount of money that people invest in their homes it is not wrong that they have a certain expectations on the maintenance and management of their residential estate. Many Owners Association or Management Committee in a Common Interest Development engage professional managers from Owners Association Management companies to manage their residential estate. This trend is especially prevalent in condominiums worldwide.
A good property manager makes a huge difference to the management and maintenance of a property. One of the keys to becoming a good Property Manager is to ensure that all facilities, equipment and shared common areas are well maintained and functioning optimally in a cost effective manner.
To achieve the above goals a good Property Manager should have Preventive Maintenance or Predictive Maintenance plans in place. You know your Property Manager is not effective when all they do is Reactive Maintenance.
Reactive Maintenance = Carrying out repairs or replacement works once an equipment fails. A little reactive maintenance is unavoidable, however when a conscious choice has to be made, reactive maintenance should only be carried out on parts that are easy to replace, where failure does not impact the running of the equipment or facility substantially. In some cases it may be more cost effective to carry out reactive maintenance.
In most cases however, a Preventive or Predictive Maintenance plan should be in place to prevent if not reduce sudden breakdown of equipment .Carrying out repairs or replacement works once something fails can cost the Association a lot of money, it is time consuming, inefficient allocation of resources and most importantly causes major inconvenience to residents.
Preventive Maintenance = Regular and systematic checks done on equipments and parts to detect failures or malfunction before they occur.
Predictive Maintenance = Performing maintenance works upon observation of impending failure of an equipment.
Simply put unlike preventive maintenance, predictive maintenance is only performed when it is required. In some ways predictive maintenance can be more cost effective compared to preventive maintenance however it is heavily reliant on information and accuracy of the prediction.