Operational Management
CHECKLIST
2.1 On acquisition or completion of a new property, support the Property Owner in transitioning the property into the property portfolio by reviewing on-site property management information and processes.
When taking on a new property, it is important to review all the material received from the previous vendor to ensure the Property Management team have all the necessary information to allow them to effectively manage the property. It is recommended that this process is included as part of a ‘100-day review’ by the Asset Management team.
See BBP Acquisitions Sustainability Toolkit and MAP Core Provisions for Property Management: Handover Checklist for further information.
2.2 Maintain an up to date record of agreed documents for the property.
Core information about a property in relation to its construction, installed equipment and systems should be digitally stored in an easily accessible location, and used to inform both the asset and property management strategies of the property, as well as wider portfolio management. This should ideally take the form of an Asset Register, however, in reality, this information is rarely held within a single location and may sit across numerous different management systems or databases. Property Management teams need to be sure what information they are responsible for maintaining and have a clear process in place to ensure it is regularly reviewed and updated.
2.3 Support the asset manager in identifying missing property level data and how such knowledge gaps can be filled.
As part of the process of keeping relevant property management records and documentation up to date (See 2.2), property management teams should highlight any information gaps that currently reside for the property and how such information could be collected. This may involve the commissioning of a survey or the installation of monitoring equipment or processes to collect a new data source. The asset management team can then make an informed decision as to the need of sourcing any new data and instruct the property management team accordingly.
2.4 Review opportunities to facilitate automated property level data into portfolio level monitoring systems.
Property level data is becoming ever more accessible through the development of monitoring devices that allow systems to be interconnected and data-feeds combined. Property Owners are now increasingly assessing opportunities to gather information from their properties in an automated way that feeds into centralised portfolio monitoring and management processes e.g. Property Management and Accounting Systems, Planned Preventative Maintenance Plans and Energy Management Systems. The automation of this data provision improves its accuracy and reduces the resource required to maintain the information. Property Managers can support this process by identifying opportunities and managing the installation and maintenance of such monitoring system. Example data sets from a sustainability perspective that can be automated into centralised platforms include, utility data, waste management data, BMS data, occupancy levels, internal environmental conditions.
2.5 Annually agree the property level information that needs to be submitted for client corporate reporting and ensure systems and processes are in place to provide the desired information in the agreed format and frequency.
To support property owners in their sustainability reporting initiatives, property managers are often integral to the collection and reporting of property level information that needs to be submitted as a part of the process. To ensure the smooth and timely delivery of accurate data, an annual review should be taken with the property owner to understand the reporting requirements for that year and who will be responsible for the delivery of data.
2.6 Implement a process to ensure improvement opportunities are reviewed and captured within the annual budgeting process.
In order to achieve the continual improvement, ensure that opportunities are not missed, the review of sustainability improvements should be integrated within the key stages of the asset and property management cycle. For example, the development of annual energy, water and waste action plans, should be reviewed in line with the annual budgeting process to assess how opportunities could be implemented via capex budgets or service charge budgets etc. Property management teams should agree the process for such a review with asset management teams in advance and understand their own role in how they fit into such a process.
2.7 - Develop an Operational Monitoring and Maintenance Plan.
A monitoring and maintenance strategy will track performance against the action plans, identify ongoing maintenance requirements for installed measures at the property. It will also set out the roles and responsibilities of different stakeholders within the property and any on-going reporting requirements. The property’s asset/ document register should be updated as and when new equipment is installed.