Efforts to keep existing tenants, reducing voids and re-letting costs.
Related terms
- Arrears
Rent or service charge that is overdue and unpaid; tracking and recovering arrears is a core asset-management KPI, especially where tenant covenant strength is…
- Asset management
Executing the strategy to maximise a property value and income over the hold.
- Building management system (BMS)
The centralised control system that monitors and automates a building's HVAC, lighting, and energy use; the primary tool for driving operational efficiency and…
- Business plan
The asset-level strategy setting out how value will be created over the hold period.
- Capex
Capital expenditure - spending on improvements or major replacements that add value.
- Common area
The parts of a building shared by all occupiers — lobbies, corridors, lifts, car parks — whose upkeep is funded collectively through the service charge.
- Facilities management
The management of building services and infrastructure to support occupiers.
- 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…