The management of building services and infrastructure to support occupiers.
Related terms
- Hard vs soft services
The split between hard FM services (maintaining physical fabric and plant — HVAC, lifts, electrics) and soft services (people-facing — cleaning, security, land…
- Lease administration
The day-to-day management of lease data and obligations — rent reviews, break dates, renewals, and compliance — ensuring no critical date or income event is mi…
- Lease-up
The process of leasing vacant space to reach target occupancy.
- Opex
Operating expenditure - the recurring costs of running a property.
- Planned preventive maintenance (PPM)
A scheduled maintenance regime that services and inspects building plant on set intervals to prevent failures, rather than waiting for breakdowns; the backbone…
- Property management
The day-to-day operation, maintenance, and tenant servicing of a building.
- Rent roll
A schedule of every tenancy in a property with its rent, lease term, and key dates; the single most important income document in any acquisition or asset-manag…
- Repositioning
Changing an asset use, tenant mix, or quality to improve its performance.