Build to Rent – Strategies for long term building maintenance management
The Build to Rent sector in Australia.
Build to Rent (BTR) is relatively new to Australia and set to boom with government incentives encouraging investment. Build to Rent is different from other residential developments in that the developer retains ownership of the entire apartment complex, as opposed to developing and selling the individual apartments. BTR developers are investing in the construction and long-term management of dwellings and common area facilities and charge rent accordingly.
According to The Property Council of Australia, investors are looking at feasibility and profits over the next 20 years with their BTR investment modeling. This strategy highlights that developers need to ensure they are planning for the management of the facility’s maintenance with accurate and sustainable building information.
What happens if BTR Building Maintenance Information is poorly planned?
BTR housing developments require thorough, sustainable, building information that can be easily accessed. This means properly formatted building and asset information needs to be planned for and created before occupation to meet regulations and improve safety standards for residents. It is also crucial to the effective and efficient ongoing management of the dwellings and facilities. Up to date and professionally executed maintenance improves safety in buildings and reduces risks for owners. If after occupation any of the building or maintenance information is missing, can’t be accessed, or is incomplete, it can create problems for the managing body, including safety risks and costs to recover the information and associated recertification expenses.
What does BTR Building Maintenance Information Contain?
Building Maintenance requires several types of important information that needs to stay accessible to the managing team. This information is provided by the architects, consultants, tradesmen, fire and safety inspectors, and builders.
Operationally it’s vitally important to collect and organise this information before it’s needed and handed over to the facility management team. This information includes:
- Safety in Design Reports/Manuals
- NABERS and Green Building Documents
- Operation Manuals
- Asset Register
- As-Built Drawings
- Commissioning Reports and Safety Tests
- Maintenance Schedules
- Spare Parts Catalogues
- Warranty Certificates
- Facility Life Cycle Asset Maintenance Plans – (Condition reports and budgets for replacement of assets)
How can BTR developers obtain all this information?
Right from the outset, the developer needs to understand the operational requirements over the life of the building and the type of data that needs to be captured during design and construction to ensure efficiencies in operating expenditure. The developer also needs to understand the data requirements of the managing body and how they access and use this information. Effective software needs to be chosen to manage this process.
There are many software solutions that provide separate tools to manage each of the requirements, however, this option can be complicated, involve duplicate entry and reformatting of information to suit the different software. OmTrak is a cloud-based single software solution that provides all of the tools necessary to efficiently capture and create quality sustainable building information that can be used to meet both the short and long-term operational needs of a BTR development.
OmTrak is a One-Stop BTR Solution that is:
- Aligned to ESG operational standards
- Able to Capture Data Efficiently to ensure Operational Efficiencies
- Capable of Providing Operational Data at your fingertips, well before the Facility is handed over to the Management Team
- Delivered electronically with well structured and well-formatted building and maintenance information
- Environmentally friendly – no hard copies
- Making life easier for the Facility Management team from day one of operations
Below is a flowchart of how OmTrak is utilised throughout the BTR life cycle:
Potentially Save Millions on BTR Operations
If you would like to know more about how OmTrak can potentially save you Millions of Dollars in operating costs (get it wrong and it will), click on the link below now.
Reduce costs & time delays on construction projects.
OmTrak is developed by industry experts to reduce project handover delays whilst streamlining communication and information for construction projects.