When do you need a PPM Schedule?
A PPM Schedule should be produced for any multi-let building where there is a service charge. A PPM Schedule may also be undertaken for large single occupier buildings where there is a necessity to understand the maintenance requirements. The PPM Schedule will assist with property and facilities managers in calculating annual service charge amounts. The PPM schedule will also provide facilities managers with a clear list of works that are required in order to maintain the building and comply with statutory requirements. In addition, the PPM schedule will provide property owners and asset managers with an understanding of the general condition of the building and the risks to the assets value.
A PPM Schedule should be reviewed by undertaking a desk-based assessment every 3 years, with a full update to the PPM Schedule including an inspection undertaken every 5 years. The PPM schedule should be used as a working document and continually reviewed and updated in line with the works, which are undertaken, and also to pick up on any additional issues that become apparent.
Why do I need a PPM Schedule?
A PPM Schedule is an extremely useful document for numerous reasons. Firstly, it helps ensure and assist with maintaining a building which means that a property owners interest is suitable protected and maintains its value. The PPM schedule also assists with budgeting and setting service charge amounts, and allows for suitable forecasting should any significant expenditure be required, The PPM schedule will ensure that statutory compliance is adhered to and any health and safety issues are resolved at the earliest.