A Holistic Property Value – Facility Management Components And Management Fees

As a metropolitan city, there are totally 2,593,200 residential flats in Hong Kong in 2011. A sharp increase on the maintenance and management fees for these residential buildings is already in the pipeline. This paper aims to identify the key facility management (FM) components in residential properties and investigate the relationship between the FM components and the maintenance and mangement fees. To achieve this aim, a questionnaire survey was conducted and 72 questionnaires were completed by the property mangement components affecting mangement expenses were identified, namely: electricity supplies, security guard services, wages, cleaning expenses, insurance costs, lift maintenance services and eletrical system repairs. These findings will provide facility managers guidelines for the improvement of services on residential properties management and to set a benchmark for the maintenance and management fees in Hong Kong.