Maintenance Strategy Program

Also referred to as Facilities Operations Budget or Maintenance Plan

A Maintenance Strategy Program serves as a comprehensive enhancement to the foundational Property Condition Assessment and Report. It’s designed to complement these assessments with either a detailed Cost to Cure Report or a thorough Reserve Study.

The primary goal of this program is to navigate building owners through the intricate process of budgeting, strategizing, and implementing maintenance activities. It ensures that inspections, repairs, and replacements are carried out efficiently, thereby mitigating the risk of unforeseen and potentially expensive repair work in the future.

By opting for a Maintenance Strategy Program, commercial property owners are embracing a proactive stance on property upkeep. This begins with a meticulous building inspection, which is then followed by precise cost estimations.

The program doesn’t stop there; it continues to provide ongoing strategic guidance and consulting to ensure the longevity and optimal performance of the property. This forward-thinking approach not only preserves the building’s value but also promotes a safe and functional environment for its occupants.

What does a Maintenance Strategy Plan include?

The development of a Maintenance Strategy Program is a three-step process.

Establishing Property Baseline

The initial phase, consisting of a Property Condition Assessment (PCA) and Property Condition Report (PCR), establishes a comprehensive baseline of the property’s current state. This foundational assessment is critical as it captures the overall health and condition of the property, serving as a reference point for all future maintenance and repair plans.

Financial Planning for Repairs

The second phase involves the creation of either a Cost to Cure Report or a Reserve Study. These financial documents are essential as they detail the projected expenses for immediate and future repairs and replacements of items identified in the PCR. They provide a clear financial roadmap for property owners, outlining the necessary investments to maintain and enhance the property’s value.

Crafting a Custom Maintenance Strategy

In the final phase, the information gleaned from the Cost to Cure Report or Reserve Study is utilized to tailor a Maintenance Strategy Program. This program categorizes maintenance tasks into one of three distinct classifications, ensuring a structured approach to property upkeep. The program is designed to be individualized, aligning with the specific needs and goals of the property owner, and focuses on preventing maintenance issues before they escalate into costly repairs.

NOTE: Consider a Reserve Study for a detailed, 30-year financial forecast of property improvements, factoring in equipment lifespan and inflation. This aids in strategic decisions on maintenance or replacement of assets.

Why is a Maintenance Strategy Program essential?

The Importance of Regular Maintenance

Ignoring regular maintenance can lead to severe repercussions that ripple through various aspects of a business. When maintenance is overlooked, it can interrupt daily operations, leading to significant downtime. This disruption not only hampers productivity but can also result in financial losses.

Moreover, a poorly maintained environment can negatively impact the morale and satisfaction of both customers and employees. For customers, it can tarnish the company’s image and lead to a loss of trust. For employees, it creates an uninviting workplace that can decrease motivation and increase turnover rates.

Implementing a Tailored Maintenance Strategy

To avoid these negative outcomes, it’s crucial to adopt a maintenance strategy that aligns with the specific needs of your building and business. This strategy should be designed to fit within your financial capabilities and adhere to your time constraints, ensuring that it is both practical and effective.

Ongoing Inspections and Strategy Revisions

We advocate for regular inspections as a core component of the maintenance strategy. These inspections serve as a health check for your building, identifying potential issues before they escalate. Keeping the maintenance strategy up-to-date with these findings is essential. It ensures that the strategy evolves in tandem with the building’s condition and the business’s changing requirements, maintaining its relevance and effectiveness over time. Regular strategy reviews and updates are a proactive measure that can save considerable time and resources in the long run.

Benefits of Maintenance Strategy Program

Financial Forecasting and Planning

A Maintenance Strategy Program (MSP) is crucial for financial forecasting and planning as it helps predict and budget for future maintenance expenses. By anticipating maintenance needs, companies can allocate funds accordingly and avoid unexpected costs. Regular maintenance can prevent many issues, reducing the likelihood of surprise expenses that can disrupt financial planning.

Pre-Loss Insurance Inspection

An MSP can serve as a Pre-Loss Insurance Inspection report, providing documented evidence of a building’s condition before any incidents. This can be beneficial for insurance purposes, as it demonstrates due diligence in maintaining the property, which may lead to lower insurance premiums and a stronger position in claim negotiations.

Outsourcing Salary Costs

Outsourcing Salary Costs: For small businesses without a dedicated maintenance staff, an MSP offers a cost-effective solution to manage maintenance tasks. By outsourcing, businesses can save on the salary costs associated with a full-time maintenance or facilities director, while still ensuring their property is well-maintained, which is particularly beneficial for businesses like doctor’s offices or daycares.

Accountability

An MSP establishes a system of accountability for maintenance tasks. It ensures that the designated person or service provider is responsible for regular upkeep and any necessary repairs. This accountability can lead to better-maintained buildings, as there is a clear record of maintenance activities and responsibilities.