What are effective FM strategies for managing high turnover properties?

1 Assess your FM needs

The first step to developing an effective FM strategy is to assess your current and future FM needs. This involves conducting a thorough inspection of your property, identifying any existing or potential issues, and prioritizing the most urgent and important tasks. You should also consider the expectations and preferences of your target tenants, as well as the market trends and standards for your property type and location. By assessing your FM needs, you can plan your budget, schedule, and resources more efficiently and effectively.

2 Implement preventive maintenance

Preventive maintenance is one of the most cost-effective and beneficial FM strategies for high turnover properties. Preventive maintenance is the regular and proactive inspection, repair, and replacement of your property's systems and equipment, before they break down or cause major problems. Preventive maintenance can help you avoid costly emergencies, extend the lifespan of your assets, improve your property's performance and appearance, and reduce your energy consumption and environmental impact. You should create and follow a preventive maintenance checklist and schedule for your property, based on the manufacturer's recommendations and your own experience.

3 Outsource or automate FM tasks

Another way to optimize your FM strategy for high turnover properties is to outsource or automate some of the FM tasks that are time-consuming, complex, or specialized. Outsourcing or automating FM tasks can help you save time, money, and labor, as well as access expert skills and technology that you may not have in-house. For example, you can outsource your cleaning, landscaping, or security services to a reputable and reliable contractor, or you can automate your HVAC, lighting, or irrigation systems with smart devices and sensors. Outsourcing or automating FM tasks can also help you improve your tenant experience, as you can offer more convenience, comfort, and safety to your tenants.

4 Communicate and coordinate with tenants

Communication and coordination with your tenants is essential for a successful FM strategy for high turnover properties. Communication and coordination can help you build trust and rapport with your tenants, as well as gather feedback and suggestions on how to improve your FM services. You should communicate and coordinate with your tenants regularly, using various channels and methods, such as phone calls, emails, newsletters, surveys, or apps. You should also inform your tenants about any planned or unplanned FM activities, such as inspections, repairs, or upgrades, and how they may affect their occupancy or access to the property. Additionally, you should provide your tenants with clear and easy ways to report any FM issues or requests, and respond to them promptly and professionally.

5 Monitor and evaluate your FM performance

The final step to implementing an effective FM strategy for high turnover properties is to monitor and evaluate your FM performance. Monitoring and evaluating your FM performance can help you measure the results and impacts of your FM activities, as well as identify any gaps or areas for improvement. You should use various indicators and metrics to monitor and evaluate your FM performance, such as costs, savings, quality, efficiency, satisfaction, compliance, and sustainability. You should also compare your FM performance with your goals and objectives, as well as with the industry benchmarks and best practices. By monitoring and evaluating your FM performance, you can adjust and optimize your FM strategy accordingly, and ensure that you are delivering the best value to your property and your tenants.