Planned preventive maintenance (PPM)
Reference
A scheduled maintenance regime that services and inspects building plant on set intervals to prevent failures, rather than waiting for breakdowns; the backbone of a well-run FM contract.
Related terms
- 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.
- Reserve fund
Money set aside from service charges to cover anticipated periodic expenditure and smooth year-to-year budget spikes; distinct from a sinking fund in its short…
- Service charge budget
The annual forecast of costs for running and maintaining a building's common parts, apportioned among tenants; it sets the on-account payments later trued up a…
- Service charge reconciliation
The annual comparison of budgeted versus actual service-charge costs.
- Sinking fund
A reserve built up over years from service charges to fund major future capital works such as roof or lift replacement, spreading the cost so no single year's…
- Tenant retention
Efforts to keep existing tenants, reducing voids and re-letting costs.