Navigating the Costing Dilemma

Uncover the Secrets of Project Costing in Facility Management

Author

Abdul Basit
November 04, 2023

👋 Hey there, and welcome to your weekly dose of inspiration, tips and valuable insights. So, let's cut the ribbon and unveil the treasure chest of this week's newsletter.

Curious about the secret sauce for whipping up a project's costing? Well, friend, it's a bit like planning a journey – and I'm here to be your guide. So buckle up and let's set forth on this thrilling ride.

Property management and Facility management? They're a duo like peanut butter and jelly.

The Art of Property Valuation

Ever heard of peeking into a property’s wallet before diving in? Sounds like common sense, right? But in the land of Facility Management, we call it "Property Valuation." It's all about finding the value of a property.

The value of the property depends on the tenants and the area in which the facility is located.

Take, for example, a swanky commercial tower in a bustling business district; its valuation dances way up high compared to a sleepy residential building in the not-so-famous part of town. And, oh, the rent – that's a whole different story.

Now, here's the secret sauce: Blend property valuation with maintenance costs, and you've got a recipe for striking gold.

FM costs? They should be like a tailor-made suit, fitting perfectly into the landlord's ROI plan. It's all about answering that nagging question in the landlord's mind - "Is it worth investing in maintenance?"

So, FM costs should be like a musical symphony, harmonizing with the property's return on investment.

Keep these ingredients close while whipping up your costing, and the baked tender will be devoured by your landlord in no time, leaving them craving for more (read: tenant retention).

Investing in property maintenance is not just an expense; it's an investment in the property's future. Well-maintained properties attract better tenants and command higher rents. Landlords who understand this balance are more likely to see sustained returns on their investments.

Michael Patel, Investment Advisor

Our Goodbyes 🤗 

And that's a wrap for this week's edition of our newsletter! We hope you enjoyed the journey through the world of property and facility management.

Remember, we're here to be your trusty compass in the land of facility management. Whether you're a landlord, tenant, or just a curious reader, we're thrilled to have you on board.

Stay tuned for more insights, tips, and a good dose of humor in the weeks to come. Until then, keep those facilities well maintained and your business thriving!

Wishing you my very best!

Abdul Basit