What Is Facility Management ?https://alphameadtraining.com/how-facilities-management-saves-costs-through-the-real-estate-lifecycle/index.html?
Facility management involves the day to day upkeep, servicing, and protection of your property’s physical assets and infrastructure. Think:
• Plumbing and electrical systems
• Power supply (e.g., generators, inverters)
• Security systems
• Cleaning, fumigation & waste disposal
• Building structure maintenance
• Tenant support and service coordination
It’s not just for commercial buildings or estates every property needs it, including short lets, duplexes, blocks of flats, and bungalows.
Here’s How Neglecting Facility Management Is Draining Your Profits:
1. Expensive Emergency Repairs
When minor issues go unchecked, they become major, costly problems. A small plumbing leak turns into a ceiling collapse. A faulty wire becomes a fire hazard.
Preventive maintenance costs less than emergency repairs every time.
2. Rapid Property Deterioration
Without regular care, your property starts to age quickly. Paint peels, tiles crack, gates rust, walls leak, and tenants complain. In less than 5 years, a “new” building can look 15 years old.
This reduces your rental value and resale price significantly.
3. High Tenant Turnover
Tenants don’t stay where things are always breaking down. They want clean water, consistent power, working toilets, and a secure environment. Neglecting facility management leads to unhappy tenants, constant turnover, and empty units.
4. Loss of Rental Income
Vacancies, delayed repairs, and downtime during renovations = lost income. Every month a flat sits empty due to poor condition, you lose money. And worse word spreads, damaging your property’s reputation.
5. Health and Safety Hazards
Blocked drainage, pest infestations, bad wiring, or poor ventilation? These are not just inconvenient they’re dangerous. They open you up to legal liability, health crises, and government fines.
Real Numbers, Real Losses
Here’s a rough breakdown of what neglect might cost you annually:
• Emergency plumbing repair: ₦200,000+
• Generator overhaul due to lack of servicing: ₦500,000
• Tenant turnover (loss of 2 months’ rent): ₦600,000 (on ₦300k/month unit)
• Structural repairs from water damage: ₦1,000,000+
• Repainting & renovations every 2 years instead of 5: ₦800,000+
Total estimated loss per year? ₦2–3 million per property.
What Smart Owners Are Doing Instead
• Hiring facility managers to oversee day to day operations.
• Creating scheduled maintenance plans.
• Using tech tools for inspections and reporting.
• Prioritizing tenant satisfaction and fast issue resolution.
• Investing in preventive maintenance instead of reactive spending.
Conclusion: Facility Management Isn’t a Cost It’s an Investment
Neglecting facility management doesn’t just wear down your building it eats away at your profits, reputation, and long term success as a property owner.
If you’re serious about protecting your investment, don’t wait until something breaks. Invest in professional facility management today and save millions tomorrow.
