BAMMS Revenue (2024)

It is a known fact that real estate development can be very costly, but what many don't realize is that the life-cycle of a property doesn't really end when the construction is completed. As a matter of fact, it is just the beginning. Statistics have shown that in the long run, say after 10 years, the cost of maintaining a building and making sure that everything is still working, is actually much higher than the construction cost.

As the person in charge of a property, the building manager is mainly responsible for managing its operations and for keeping its tenants happy, which can be very tough, especially given limited resources. But this task becomes almost unimaginable when, for whatever reason, the homeowners association or the building owners decides to cut the operational budget.

When this happens, without any intervention, the situation could develop into a huge problem, in which after several years into the property's life-cycle, a number of tenants, being unhappy with the