Most owners know roughly what their building cost to buy or build. Far fewer know what it will cost to keep it in good repair over the next ten or twenty years. Yet over the life of a building, the cost of maintaining and renewing it can be a large part of what it costs to own. Without a plan, those costs arrive as surprises: a roof that fails, a boiler that cannot be repaired, a sudden demand on the service charge.
What changed
In March 2014 RICS published NRM3, the part of its New Rules of Measurement suite that covers cost estimating and cost planning for building maintenance works. It sets out a consistent way to identify the parts of a building, estimate when each will need repair or replacement, and plan the cost over time. Alongside NRM1 for new building costs and NRM2 for detailed measurement, it gives a common framework from design through to long term upkeep.
What a good maintenance plan includes
- A condition survey. Every element, from roof coverings to lifts, is inspected and its remaining life assessed.
- Life cycles. Each element has an expected life, adjusted for its current condition and exposure.
- Costed work items. Each repair or renewal is priced and placed in the year it is likely to be needed.
- Cyclical work. Regular tasks such as external redecoration, gutter clearance and servicing are included.
- A review cycle. The plan is updated as work is done and conditions change.
Why it helps
- Smoother budgets. Reserve funds can be built up steadily, avoiding large one off demands.
- Better timing. Work can be grouped to share scaffolding and access, cutting cost.
- Fewer failures. Planned replacement avoids emergency repairs and the damage that follows them.
- Clear evidence. For leasehold blocks, a plan shows leaseholders why works are needed and when.
Older and listed buildings
Historic buildings benefit most from planning. Lime renders, timber windows and traditional roofs last a long time if maintained, and cost far more if neglected. A plan built around repair, not replacement, protects both the building and the budget.
Our Planned Preventative Maintenance service prepares costed maintenance plans. See our ten year plan for a listed mill complex, and our life cycle refurbishment of a period block.