IMPLEMENTATION OF A MAINTENANCE STRATEGY FOCUSSING OWNER-OCCUPIED PROPRIETARY

Frank Kiesewetter and Hans Wilhelm Alfen

ERES from European Real Estate Society (ERES)

Abstract: Real estate portfolios of private and public corporation are increasingly optimized concerning their using phase. By contrast private used properties such as detached houses or multifamily residences are often neglected already at the beginning of the useful life. One reason could be the absence of professional management. Furthermore there are the private building owners who do not realize the importance of a value conserving maintenance strategy providing a basis to secure their investment. Considering owner-occupied proprietary the life cycle costs are as well important as the construction costs. Thus the ownerís awareness for the life cycle has to be raised. In consequence of this and based on the fact that many owners are short of cash thereís often a reconstruction backlog after completion of the building. It is therefore the aim of the paper to present the need of maintenance focussing detached houses and to bundle the elements of maintenance in a predictable cycle. Result of the research is a catalogue with a chronological order of the single components of maintenance referring to this context. Existing strategies and models will be adopted and modified to achieve this target. Another question is how to include elementary home automation in the cycle of maintenance such as alternative heating systems with their multifaceted techniques. As a conclusion the paper will give an outlook how to realize a professional management of these services considering the determining conditions of the market for owner-occupied proprietary in Germany. However it will be necessary to get over the interface between building industry and handcraft.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2008-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2008_179

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