Property Management: Planning, Implementation, and Maintenance

This document provides information about property management, including planning, implementation, and maintenance. It covers topics such as risk assessment, cost management, resource identification, and key registered systems. The document also discusses the implementation process and the use of technology for documentation.

Property Management

Table of Contents
Part 1: Planning................................................................................................................................1
Part 2: Implementation.....................................................................................................................6
Part 3: Review..................................................................................................................................8
Proposed changes...................................................................................................................8
Amended management plan...................................................................................................9
Relevant support documentation............................................................................................9
REFERENCES..............................................................................................................................10

Property management basically comprises of all the operation, control, maintenance, and
oversight of real estate and physical property that is required to provide adequate services and
meet the expectation level of the owner. The current report is based on property management
which comprise of three parts starting from planning along with implementation and review.
Part 1: Planning
a.
Schedule Time
Cleaning of lobby Twice a week
Window cleaning Daily
Gardening Daily
Elevator maintenance Once
Pest control Once
Painting
Once in a
month
Plumbing maintenance When required
Fire services maintenance Twice a month
Security maintenance Once a week
Any other maintenance Once a month
b. WHS
The enactment of workplace safety and security (WHS) may be the key piece of
legislation governing the Australian workplace. It tends to be the primary means of any safe and
strong job expert. Perhaps the key changes are the well-being of the public workplace and the
safety changes introduced by the Occupational Health and Safety Act 2011 (Cth) and training
models and codes. These changes aim to improve the well-being and safety of the public work
environment by improving the framework and making laws more consistent across Australia
(Olwan, 2021).
In some cases the construction support plans are part of the FOP, occasionally broken
down as a different arrangement. They rely primarily on structural maintenance - from day-to-
day custodian administrations, occasional ground maintenance, HVAC, plumbing, and
electricity. Support plans offer both protective and infectious instructions for building
maintenance, including plans for routine support and action plans for critical frame violations.
Increasingly, these plans also include a measure of Career Adjustment and Enterprise Resource
Distribution (EAM), so that organizations with future office needs. In an advanced position, they
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may have a computerized pair of the facility or facilities of the center. These components
combine with a spending plan and SLA plans, which will be explored later in this post (Palantzis,
2021).
c.
A risk assessment network is a tool that allows you to assess how a physical problem or illness is
caused by a risk and the severity of that injury or illness. The greater the likelihood and,
moreover, the severity of the injury or illness, the greater the need to control the risk associated
with this risk. A risk assessment grid is often used to detect risk when conducting inspections to
ensure that the risk is minimized.
Security Risks Potential impact Security measures
Physical
property risk
Whether the head of property
manages a home or two or a billion
dollar property package, there is a
real risk of damage. Furniture
breaks, scratches the paint and the
exterior wears out in the long run.
Support and solutions should be led by
qualified, contract staff. As there is a
risk in working with external
meetings, be sure to review the
capabilities of the organization before
allowing them to begin work on
assignment (Ekemode, 2021).
Administration
risk
Homeowners have a lot of data to
manage randomly; for example,
contracts, resident agreements, rent
transfers, events and problems,
support for errors, costs, etc. Try to
address only this information; much
more to see it in an organization that
allows an appropriate activity.
ClearRisk’s cloud-based scheduling
for complaints, incidents and risk
management provides a secure level
for all important data. It is fully
customizable, accessible from any
internet-enabled device, and provides
details and tests to develop a step-by-
step property manager presentation.
Market risk At a time when the economy is in a
recession, individuals and families
generally cut down on extra money
by setting aside something for a
difficult stretch ahead. This could
mean that they would continue to
To model this risk, property managers
should try to maintain a mixed
portfolio. This will ensure that, with
the chance that a particular industry
does not perform well, they will have
sufficient arrangements in place in
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move to another home or buy a
cheaper home than they would
anyway (Alsharif, 2021).
various areas to balance the loss.
d.
There is no method based on a spending plan. However, when you're unsure about a toe,
accompanying recipes can help you with the cost of maintaining a business property:
1. The half principle suggests that the total operating costs can be up to half of the
payment made by the investment fund. For example, a $ 1,000 monthly rent could cost
you around $ 500 in support costs.
2. The 1% guideline considers annual real estate estimates. It suggests that all jobless
costs could be up to 1% of the building cost per year. For example, if your property is
worth $ 400,000, your annual support cost could be around $ 4,000.
3. Regular phones 5X monthly and monthly fees with annual support costs. Double your
monthly rent by 1.5 to find annual support costs. For example, a $ 2,000 monthly lease
will include an annual support fee of $ 3,000 (Asnakew and Amogne, 2021).
e.
Cost: The cheapest trade people will be considered first as selection criteria.
Expectations: It is expected that trade people will give regular service and obliged his duty and
responsibility without become defaulter.
Previous experience: Trade people should have at least 1 year working experience at some other
health care property.
f.
Identify resources for the maintenance
A distinction must first be made about the resources responsible for maintaining the application.
Depending on the size of the job, you can choose to have dedicated or shared resources.
Arrange a support meeting with colleagues and IT partners
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The focus of the maintenance status meeting is to focus on the side effects of the support
exercises provided to the company. The business and IT management group will review the
application process as decided (Giantari and Sukaatmadja, 2021).
Raise craft issues and events to meet with item owners and a specialist group
In this separate meeting, issues and insects that need timely action are discussed. Insects and
issues are selected according to the aims and objectives of the support group.
Configure change control card
The Change Control Committee will devise a way to request changes to the application without
removing the maintenance team from their intended objectives. The maintenance group is
deployed to ensure there are no impacts or accidents.
Enter the administration module
The maintenance management model is delivered and validated by business and IT partners. A
response is included on how to detect problems, modifications and maintenance status.
h.
Implement a sustainable office housing plan. "A business plan is more feasible and mediocre
than it has been regularly, especially when you consider years rather than days and weeks. It is
also important that a business plan is around the best of society. In general, which is a motivating
force additional for organizations wishing to support their position as socially capable people and
on the ground (Shin and et. al., 2021).
Find out the total cost of all office work done simply and easily. "To the underdeveloped eyes,
the office maintenance arm of all brands has been an obscure cost opening. The costs of these
FM administrations add up, and unless differences emerge, this is where most of it ends. of the
firm, office maintenance managers, who are aware of all the subtleties that make up any job
application, understand the aforementioned problems and costs involved in this field of activity.
Consider smarter developments that affect energy use in offices. "Some energy-related initiatives
will largely be kept away from customers and basically seek to reduce energy interest, for
example, upgrades to chillers and ventilation units. Initiatives like this can ultimately lead to
better control of energy temperature to the customers of the hotel; however, the renovation is not
an essential goal.
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Use the primary search method to find the right suppliers for your office work. "Finding the right
suppliers to maintain your offices can be difficult and stressful. From janitor administrations, to
maintenance and supply maintenance, ensuring suppliers supply related items, creating contracts
with clear levels of support, and allowing for the administrative nature supply and efficiency
levels are basically maintained for the execution of any office support project.
I.)
A proper and effective key registered system has been made for the current project that
would provide effective control to both owner and the manager of the system by the way od
putting effective restriction. The accessibility of the keys is only provided and allowed to the
persons and managers who are nominated and authorised to the order keys (Power, 2021). The
key register system that is maintained for current project would comprise of following aspects to
maintain effective control and security of this:
 Issue date
 Serial number of the key each of which is having a unique serial number.
 Name of the receiver
 Signature of the receiver
 Return date
 Key store keeper or received signature
 A clear and precise description about the key and work purpose.
Further, the management of the key would also comprise of the management of
cryptographic keys in a cryptosystem which would include dealing with the generation,
exchange, storage, use, crypto-shredding (destruction) and replacement of keys. Thus, successful
key management is critical and vital during the current project to the security of a cryptosystem.
Further, to effectively maintain the security of both the register and the keys key number of each
key is different and registered in system that means every owner need to obtain this number and
locate the keys for a property in an effective software locked system to maintain safety and
authenticity (Grimaldi, Greco and Cricelli, 2021).
J.)
To ensure regular reporting about the current project use of e-mails and other online
modes of communication would be made to report the owners about the ongoing activities. The
sort reports that would be provided comprises of status reports of the project along with risk
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reports that would provide information about all the possible sets of risk. Board/Executive
reports, resources report along with variance reports has been also maintained for current project
that would be provided to owner (Lord, 2021).
K.)
The agency fees for management purpose will be charged and collected at percentage basis that
ranges from the 8% to 12% of the gross monthly rent. The agency fees are outlined in the rental
agreement between the property owner and rental agents. Beside this, the information that need
to be recorded comprises of records of management agreements along with payments records
that are tend to be related with rental income, management fees and property maintenance which
consists of transaction date, description memo along with records for category and amounts
(Binoy and et. al., 2021).
L.)
The business equipment and technology that are needed to securely maintain the documentation
comprises of database, scanner, computer and internet. Computer based data base are used to
maintain the documentation that comprises of aggregate data records and files comprising all
vital information about property management and rental agreements that can be easily accessed,
managed and updated. Further, use of computers, data storage devices, facsimile machines,
internet, extranet and intranet, email, photocopiers, printers and scanners are also made to
maintain the proper documentation.
Part 2: Implementation
a.)
Effective planning is made to carry out the maintenance which consists of specific
policies and procedure for entire maintenance team and staff. An efficient procedure of
scheduling and maintenance has been made to ensure efficient use of people and resources.
Effective communication with all the technician and engineers are made to ensure timely and
effective maintenance of the property (Olwan, 2021). Compliance of the local government
regulations relating to anti-discrimination and equal employment opportunity along with
consumer protection, fair trading and trade practices, employment and industrial relations,
environmental issues and industrial relations are also made.
b.)
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The implementation of property management plan comprises of effective services and proper
maintenance of emergency lighting, evacuation, fencing and boundaries, fire lighting, garden,
housekeeping, painting, pests, plant and equipment maintenance, plumbing, sanitary disposal,
security, vertical movement and waste disposal. Thus, various contractors and tradespeople need
to get engage in order to effectively create the files and finalise the arrangements (Palantzis,
2021). The engagement and selection of a tradespeople and other service provider would be
based on the cost, quality of work along with service standards that are clearly maintained and
notified in the agreement. The steps that would get applied for selection of tradesperson
comprises of:
 Finding a tradesperson with the help of sites like Trustatrader, Checkatrade and
Ratedpeople.
 Properly check reference and get the quotes
 Analysis and compare services covered and cost
 Agree a payment plan
 Check and review of quality.
c.)
Tender Ad for Lift and electrical maintenance
N.I.T. No:…. Dated…..
For and behalf of …
SI. No. Name of
work
Value put to
tender
Completion
time
Amount of
Bank receipt
for cost of
tender
document
Amount of
Ernest
Money@
2.5% for
issue of
tender
form
1. Maintenance
of lift and
electricity
100000 $ 6 months 5000$ 700$
Time schedule
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Last date: XXX
Display of list: XXX
Opening of tender: XXX
Conditions of contract
 Tender is open only for eligible service provider
 Intending tenders should apply in writing
d.)
The management of contractor and tradespeople has been made through setting out and
establishing good communication along with tracking all schedules and changes in writing.
Further, an effective contractual agreement is also put that has compliance with all necessary
licence, permits and insurance along with having a supervisor to check the quality of work along
with setting proper coordination among the tradesperson comprises of Carpenters, Plumbers and
Electricians (Ekemode, 2021).
e.)
To effectively review the completed work use of KPI (key performance indicator) tool
would have been applied that is effective in reviewing the complete work and ensure its success
and cost effectiveness. KPI provides an effective comparison between the actual and desired
level of quality and performance along with analysis of cost and other expenses. Thus, helps in
maintain proper quality assurance and cost effectiveness. Implication of Certified Compliance &
Ethics Professional (CCEP) and Certified Information Systems Security Professional (CISSP)
are also made to meet all the set consideration during current property management plan
(Alsharif, 2021).
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Part 3: Review
Proposed changes
The proposed changes that are required comprises of having a more effective tender and
selection of tradesperson who can effectively manage the gardening as some loud mowing and
leaf blowing are faced by the owners which make it difficult to deal with the clients. Further, a
better system for clearance and management of garbage is also needed to resolve the issue of
overflowing of bins. Apart from this, an issue out of order of elevator is also faced despite of the
regular service which also needs to be get revived and resolved.
Amended management plan
An amended management plan is drafted to overcome the identified issues during current
plan:
Modification are highlighted:
Schedule Time
Cleaning of lobby Twice a week
Window cleaning Daily
Gardening
Daily including
Monday also
Elevator maintenance Weekly basis
Pest control Once
Painting
Once in a
month
Plumbing maintenance When required
Fire services maintenance Twice a month
Security maintenance Once a week
Any other maintenance Once a month
Further, modifications only in gardening and management of garbage practises and elevator
tender is required to make these services more efficient and effective.
Relevant support documentation
The relevant support documentation which are required to review the current property
management plan comprises of property reports. The documentation of the property report which
are needed during review of the plan includes a variety of documents that provide a
comprehensive profile of a property. These relevant documents comprise of prospective property
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buyers, sellers, mortgage lenders, real estate professionals, lawyers and other parties rely on
property reports to have effective documentation of report (Asnakew and Amogne, 2021). Beside
this, an analysis of various tender agreements and their quality standards and cost would also be
made as relevant support documentation while review of the current plan.
REFERENCES
Books and journal
Alsharif, M., 2021. The efficiency of REITs industry in Saudi Arabia: profit-oriented
approach. Property Management.
Asnakew, M.B. and Amogne, M.K., 2021. Valuation inaccuracy, approaches, basis and
procedures for judgment execution in Ethiopia. Property Management.
Binoy, B.V. and et. al., 2021. A bibliometric analysis of property valuation
research. International Journal of Housing Markets and Analysis.
Ekemode, B.G., 2021. A fresh look at the inflation-hedging attributes of residential property
investments in emerging markets: evidence from Nigeria. Property Management.
Giantari, I.G.A.K. and Sukaatmadja, I.P.G., 2021. Effects of environmental orientation, green
marketing mix and social capital on the competitive advantage of real estate developers
in Bali. Property Management.
Grimaldi, M., Greco, M. and Cricelli, L., 2021. A framework of intellectual property protection
strategies and open innovation. Journal of Business Research, 123, pp.156-164.
Lord, R., 2021. Fire Safety in Residential Property: A Practical Approach for Environmental
Health. Routledge.
Olwan, R., 2021. Intellectual property management for small and medium-sized enterprises in
the United Arab Emirates. Journal of Intellectual Property Law & Practice, 16(3),
pp.278-288.
Palantzis, P., 2021. Identifying Property Management issues of Multi-Owned Residential
Buildings in Cyprus. A proposal for a healthier Approach (Doctoral dissertation, Real
Estate Management Program, School of Architecture, Engineering, Land and
Environment, Neapolis University Pafos).
Power, A., 2021. Property Before People: The management of twentieth-century council
housing. Routledge.
Shin, J. and et. al., 2021. Impact of ownership and architectural design on property disputes in
multi-owned buildings. Habitat International, 112, p.102371.
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