Howard Roth’s article "Real Estate Transparency: Property Management’s Turn" is a call to arms for property owners and property managers alike. Roth suggests that asset managers are becoming too complacent with building management, and base their contracts on the convenience of existing relationships rather than “property management credentials.”
Fire and Life Safety systems are in place because unplanned incidents and mistakes happen. Those mistakes shouldn’t be the way you use your system. Don’t fall trap to #4 and confront the responsibilities that building owner and managers are liable for! Start dishing on the condition of your system and be wary of the common mistakes below.
The Top Ten Fire & Life Safety System Mistakes to Avoid:
1. Continuing to band-aid an outdated system, rather than replace it.
2. Missing the Big Picture: Have all the little one-off improvements and renovations necessitated a change to the entire system?
3. Not implementing building and portfolio-wide fire and life safety standards.
4. Passing the Buck to Service Providers.
5. Thinking you can catch up later when the market turns around. Codes change. Tenant demands change. New technology is introduced. Don’t fall behind your competition!
6. Not doing an Assessment of Condition of your Fire & Life Safety systems at each building.
8. Choosing the wrong person or team to spearhead the project.
9. Share is Caring: Making sure that all appropriate building representatives get their hands on the final report.
10. Neglecting to utilize technology in the process.
If any of the above mistakes sound a little too familiar, register for our free upcoming webinar with speaker Peter Harrod of Rolf Jensen &Associates: