Whether you are a landlord or a tenant of a commercial property, Planned Preventative Maintenance (PPM) is something you need to know about and take a strategic approach to.
For a landlord, PPM should help maximise and maintain the value of a property or asset by helping it to operate efficiently, in full working order, for as long as possible.
For a tenant, it is likely that you will have an obligation in your lease to maintain the property to at least the same standard as when you took occupancy. By actively maintaining a property, you can reduce the burden of the cost of repairs at the end of the lease term, also keeping the property in full and safe working order for the benefit of your employees and your everyday operation.
There’s no doubt that PPM can help to save costs in the long run – preserving the condition of a property can go a long way to preventing minor issues from escalating into more serious problems and sometimes avoiding defects from occurring in the first place.
So how should you go about putting a successful PPM in place?
The first step in planning a PPM strategy is to get detailed information of the condition of the property and any areas of immediate or future concern. If the property has recently been leased, it may be that there was a Schedule of Condition prepared – this can provide a useful starting to point.
Otherwise, you will likely need to have a PPM Report prepared by a Chartered Building Surveyor.
This will involve a detailed survey inspection of a property, along with a schedule with recommendations for the coming years, to provide a planned maintenance strategy. Our reports will identify repair projects and provide recommended timescales for undertaking repair works over coming years, and we also provide budget costs so that our clients are able to budget accordingly.
Once you have this information in place, you can work to create a bespoke strategy to keep the building in good repair. If certain works are already planned, it can be worthwhile trying to coincide these with any improvements you wish to make as this can save time and cost as well as reducing the impact of any periods of disruption.
The next step is putting the wheels in motion and getting contractors in to undertake the works. If any major works are undertaken, you need to be aware of any obligations you may have regarding insurance requirements. Where possible, be sure to document that work undertaken, also being sure to obtain certificates, warranties or any other paperwork.
With a building’s condition, nothing is set in stone and it may be that further issues begin to develop or problems escalate at a faster rate than anticipated. It is worthwhile reviewing the overall condition of the basis at least annually.
Lea Hough Chartered Surveyors work with companies, organisations and individual clients to develop Planned Preventative Maintenance schedules across their property portfolios. This includes residential properties, industrial units, retail units and schools.
For more information or to speak to us about putting in place and overseeing PPM works on your behalf, please contact us.