What is the difference between facility management and property management

Generally speaking, Property Managers care for a building for the sake of the building and its owner. They collect rent, they keep the building maintained to ensure it retains its value, they answer to the landlord or investors. Facility Managers care for a building for the sake of the people in the building. Facilities Management is generally related to the end user of a building. A good FM team would be ensuring that a building s would be utilised to its optimum to boost performance and efficiency.

In addition the building s would be safe and working to best practice. Property Management is usually related to the building itself. Ensuring the efficient use of the building to increase revenue generated from the building s. Property Management is handling the entire building or property while facility management is only managing on particular area inside the property. Facility Management Describes total Facility department.

Property Management is dealing with only property it can be only land, building, commercial or residential. The two areas have a lot in common, but there are some distinct differences that you should be aware of as you chart the course of your career. Many facility and property manager duties overlap. But there are some distinct differences.

The asset manager thinks of things like when to sell or hold the building and how the income and expenses for that building hold up against all of the other buildings in the portfolio. Both require a person who can roll with the punches and deal with the lack of a typical schedule, Fischer explains. Tasks and responsibilities vary depending on building and portfolio size, whether your employer occupies their own building or leases it out to tenants, and other factors.

Whether you ultimately end up in property management or facility management, there are a few important qualities that will help you find success in either field. Fischer recommends a strong focus on customer service and communication skills. Jake Gunnoe, director of the Leadership Society of Arizona , recommends embracing evolving technology now because it will become an increasingly important part of both property and facility management. If you want to go into a management role, the most important thing you need to learn is how to utilize and align expertise.

What maintenance should you do and when? When should it be replaced? How should it be maintained? As you establish yourself in the field, the ability to lead a team will become more and more important. Be comfortable with presenting in front of a group, participating in meetings and delegating tasks to people on your team. The emphasis on wellness in buildings impacts both property managers and facility managers. They have put together a smart list of defining features to differentiate between facilities managers and property managers:.

While the Facility market is broadening with each passing day to incorporate new skill sets, property management is largely based around Real Estate skill sets. The main responsibility of a property manger is to maintain the owner and tenant relationship in order to maximize profits. The property manager acts on behalf of the property owners and are responsible for the seamless cash flow.

Facilities managers can come from any background.