Summary of the Project
A luxury beach-side residential complex engaged HFM Asset Management to undertake various projects to improve their performance and reduce their ongoing costs.
This Strata-Residential building complex has 156 apartments and 7 levels. Common areas of the apartment complex include various lifts, BBQ Area, dining area, wine storage, gym, pool, spa, and yoga studio.
The decision-making process for strata management complexes, takes longer than other sectors as it involves a group of decision-makers (Council of Owners).
- Improve performance
- Reduce costs
- Prevent maintenance issues
HFM implemented the following projects:
- Electricity Procurement
- Gas Procurement
- Hot & Cold Water Embedded Network Feasibility
- Asset Register, Life Cycle Costing & 10 Year Maintenance Plan
- Cloud-based asset management software (myBuildings): Setup & training in progress. This is an innovative online tool for efficient asset management and preventative maintenance scheduling.
6.2% energy costs reduction
2% gas costs reduction
Hot & Cold Water Embedded Network Investigation:
HFM undertook a Stage 1 investigation and developed a plan of recommendations to improve its performance and accurately on charge lot owners for the water they consume
Asset Register, LCC & Maintenance Plan:
A 15-Year Maintenance Plan & Reserve Fund Forecast were developed for the site allowing the Owners to start developing their Reserve Fund Plan
Cloud-based Asset Management Software (myBuildings):
This project is currently being implemented, at its completion it is will manage both scheduled and ad hoc maintenance requests and also provides features such as Contractor Management (insurance certificates, JSEA etc), parcel management and room bookings.