Real Estate Facility Management
Note: The term facility management was changed into real estate facility management as this gives a greater overlap with the services of Corpus Sireo.
The goal of real estate facility management is to preserve and increase the benefit of a property over its entire lifecycle and to reduce the expense. This concept combines sometimes very different definitions that exist both in the literature and in practice. In particular, companies use the broad interpretation of the term for their strategic market positioning. In recent years, various attempts have been made to create a uniform definition. It has been noted that the American understanding, which focuses on the user of a property, differs from the German understanding, where the focus is on the owner.1 The German Society of Property Researchers has therefore attempted to establish a standard for the property industry with its definition:
„Real estate facility management (REFM): The lifecycle and user-oriented operational management of property processes in the interests of the user and for ensuring intended use. The goal is the effective implementation of the predetermined property strategy, focusing on providing the property services in line with the quality, schedule and cost requirements of users.“2
The German Society of Property Researchers’ understanding focuses on the interests of the user, which must, however, be combined with the objectives of asset management or the owner. Furthermore, it clarifies the operational management component of real estate facility management. The tasks of real estate facility management are usually divided into the three areas of commercial, technical and infrastructural services. The range of tasks bundled within these three areas is extremely wide and differ greatly depending on the service provider.3