Asset management is generally defined as the process of managing and guiding the acquisition, use, and disposal of real estate assets in order to maximize service delivery while also managing risks and costs over the lifespan of that asset.
Facilities management and maintenance are integral to effective asset management: sound facilities management practices help a nonprofit organization preserve its facilities assets, ensure compliance with leases, and enhance the organization’s ability to secure the capital and financing terms it will need to acquire future sites.
The NewSchools’ Venture Fund advises organizations looking to design, update, and improve their facilities management and maintenance strategies to consider the following components of this complex work, which requires the coordination of many different activities and personnel:
- Understand and comply with lease agreements
- Maintain and clean facilities
- Maintain safety and security of clients and staff
- Manage minor repairs
- Prepare for major unexpected projects
- Implement energy-efficient/cost-efficient systems
- Comply with government requirements (ADA etc.)
- Risk Management