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Maintenance, Facilities & Capital
Asset Condition Index
Asset Condition Index is a structured score or rating used to summarize the physical condition and risk of building systems or property components.
Property Management Excellence Glossary
Maintenance, Facilities, and Capital Planning
Strong property performance depends on connecting today’s work orders to tomorrow’s asset condition. These definitions explain the controls, evidence, service standards, and planning practices that turn maintenance from reactive activity into disciplined stewardship.
Curated definitions
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Maintenance, Facilities & Capital
Asset Register
An asset register is the controlled inventory of major building systems and equipment, including location, manufacturer, model, serial number, age,...
Maintenance, Facilities & Capital
Bid Leveling
Bid Leveling is the process of comparing proposals on an apples-to-apples basis by aligning scope, quantities, materials, assumptions, exclusions,...
Maintenance, Facilities & Capital
Callback Rate
Callback Rate is the frequency with which a technician or vendor must return after a job was reported complete.
Maintenance, Facilities & Capital
Capital Expenditure
A Capital Expenditure is spending for a significant asset, replacement, or improvement that provides benefit beyond the current operating period.
Maintenance, Facilities & Capital
Capital Plan
A Capital Plan is the schedule, scope, cost estimate, funding approach, and decision framework for major replacements and improvements.
Maintenance, Facilities & Capital
Certificate of Insurance
A Certificate of Insurance is evidence summarizing an insurance policy’s coverage, limits, insurer, and effective dates.
Maintenance, Facilities & Capital
Change Order
A Change Order is the documented modification of an approved project’s scope, price, schedule, or terms.
Maintenance, Facilities & Capital
Computerized Maintenance Management System
A computerized maintenance management system organizes work orders, preventive maintenance, assets, inventory, labor, vendors, and reporting.
Maintenance, Facilities & Capital
Cost per Turn
Cost per Turn is the total cost required to prepare a vacated unit for the next resident, often segmented into labor, materials, vendors, cleaning,...
Maintenance, Facilities & Capital
Deferred Maintenance
Deferred Maintenance is necessary work that has been postponed beyond the appropriate time.
Maintenance, Facilities & Capital
Emergency Maintenance
Emergency Maintenance is work requiring immediate response because of a credible threat to life, safety, habitability, business continuity, or major...
Maintenance, Facilities & Capital
Emergency Response Time
Emergency Response Time measures how quickly management acknowledges, dispatches, arrives, and stabilizes an emergency.
Maintenance, Facilities & Capital
Equipment Warranty
An equipment warranty defines the manufacturer's or contractor's obligations to repair or replace covered components during a specified period.
Maintenance, Facilities & Capital
Facility Management
Facility Management coordinates building systems, maintenance, vendors, safety, space support, utilities, access, service contracts, and occupant needs...
Maintenance, Facilities & Capital
Fire and Life Safety Inspection
A fire and life safety inspection evaluates systems and conditions such as alarms, sprinklers, extinguishers, exits, emergency lighting, fire doors, and...
Maintenance, Facilities & Capital
First-Time Fix Rate
First-time fix rate measures the percentage of work orders resolved without a return visit, repeat complaint, or additional repair.
Maintenance, Facilities & Capital
Inventory Control
Inventory control is the system for stocking, issuing, counting, and replenishing maintenance parts and supplies.
Maintenance, Facilities & Capital
Life-Safety System
A Life-Safety System is equipment or infrastructure intended to protect occupants during fire, smoke, power loss, emergency, or evacuation.
Maintenance, Facilities & Capital
Lifecycle Plan
A Lifecycle Plan estimates the condition, remaining useful life, maintenance needs, replacement timing, and expected cost of major building components.
Maintenance, Facilities & Capital
Maintenance Backlog
Maintenance Backlog is the total unresolved maintenance work waiting for action, scheduling, parts, access, approval, or completion.
Maintenance, Facilities & Capital
Mean Time to Repair
Mean time to repair measures the average time required to restore a failed system or resolve a repair once work begins.
Maintenance, Facilities & Capital
Mold Remediation
Mold remediation is the controlled process of addressing moisture sources, containing affected areas, removing contaminated materials when required,...
Maintenance, Facilities & Capital
Move-In Inspection
A Move-In Inspection documents the condition of a unit or premises at possession, usually with photos, checklist items, meter or key information, and...
Maintenance, Facilities & Capital
Move-Out Inspection
A Move-Out Inspection documents the condition of the premises at the end of tenancy and compares it with the move-in baseline, lease obligations, and...
Maintenance, Facilities & Capital
Predictive Maintenance
Predictive Maintenance uses condition data, sensor readings, inspections, usage, or failure patterns to estimate when equipment needs service or replacement.
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Maintenance, Facilities & Capital
Preventive Maintenance
Preventive Maintenance is scheduled work performed to reduce the likelihood of equipment failure, safety issues, water intrusion, and emergency repair.
Maintenance, Facilities & Capital
Preventive Maintenance Calendar
A Preventive Maintenance Calendar is the assigned schedule of recurring service, inspection, testing, cleaning, and replacement tasks by asset,...
Maintenance, Facilities & Capital
Preventive Maintenance Compliance
Preventive maintenance compliance measures the percentage of scheduled PM tasks completed on time.
Maintenance, Facilities & Capital
Procurement
Procurement is the controlled process for sourcing, evaluating, approving, purchasing, and documenting goods and services.
Maintenance, Facilities & Capital
Property Inspection
A Property Inspection is a documented review of physical condition, safety, cleanliness, maintenance, lease compliance, and emerging risk.
Maintenance, Facilities & Capital
Punch List
A Punch List is the final documented list of incomplete, defective, or corrective items that must be resolved before a turn or project is accepted.
Maintenance, Facilities & Capital
Purchase Order
A Purchase Order is a formal authorization to buy goods or services under stated scope, price, terms, property, account coding, and approval.
Maintenance, Facilities & Capital
Quality Control
Quality Control is the inspection and verification process used to confirm that maintenance, turns, and projects meet the approved scope and standard...
Maintenance, Facilities & Capital
Reactive Maintenance
Reactive Maintenance is work performed after a component or system fails.
Maintenance, Facilities & Capital
Recurring Work Order
A Recurring Work Order is a service request that repeatedly appears for the same unit, location, component, or symptom.
Maintenance, Facilities & Capital
Reserve Plan
A Reserve Plan defines the funds required for known near-term needs, mid-term replacements, long-term lifecycle items, and reasonable uncertainty.
Maintenance, Facilities & Capital
Rework Rate
Rework Rate is the percentage of completed jobs or turns that require additional work because the original scope was missed, quality was inadequate, or...
Maintenance, Facilities & Capital
Roof Management Plan
A roof management plan combines condition assessments, repair history, preventive maintenance, warranty tracking, drainage review, budget forecasts, and...
Maintenance, Facilities & Capital
Scope of Work
A Scope of Work defines the specific labor, materials, quantities, standards, exclusions, schedule, access, permits, cleanup, documentation, and...
Maintenance, Facilities & Capital
Service-Level Agreement
A service-level agreement documents the performance expectations for a vendor or service provider, such as response time, completion time, availability,...
Maintenance, Facilities & Capital
Three-Bid Policy
A Three-Bid Policy requires multiple competitive proposals for work above a defined threshold, subject to reasonable exceptions for emergencies,...
Maintenance, Facilities & Capital
Time-Stamped Inspection
A Time-Stamped Inspection uses dated, and where appropriate geolocated, photos or records to document when and where an inspection occurred.
Maintenance, Facilities & Capital
Turn Time
Turn Time is the elapsed time required to move a unit from the defined turn start to rent-ready completion or move-in.
Maintenance, Facilities & Capital
Unit Standard
A Unit Standard is the approved specification for finishes, fixtures, appliances, colors, materials, quality, and functionality in a multifamily unit.
Maintenance, Facilities & Capital
Vendor Cycle Time
Vendor Cycle Time is the elapsed time from assignment or authorization to verified vendor completion.
Maintenance, Facilities & Capital
Vendor Management
Vendor Management is the process of selecting, onboarding, assigning, supervising, measuring, correcting, and retaining outside service providers.
Maintenance, Facilities & Capital
Vendor Onboarding
Vendor Onboarding is the documented process for approving a service provider before work begins.
Maintenance, Facilities & Capital
Vendor Scorecard
A Vendor Scorecard evaluates service providers using consistent measures such as response time, completion time, quality, cost, documentation, safety,...
Maintenance, Facilities & Capital
Warranty Callback
A warranty callback is a return visit required because recently completed work failed, remained incomplete, or did not meet the agreed standard.
Maintenance, Facilities & Capital
Water Intrusion
Water intrusion is unwanted water entering the building through roofs, walls, windows, foundations, plumbing, or drainage systems.
Maintenance, Facilities & Capital
Work Order
A Work Order is the documented record of a maintenance, repair, inspection, or service task from intake through completion.
Maintenance, Facilities & Capital
Work-Order Aging
Work-Order Aging groups open work orders by how long they have remained unresolved.
Maintenance, Facilities & Capital
Work-Order Cycle Time
Work-Order Cycle Time is the elapsed time from request intake to verified completion, often segmented by priority or work type.
Maintenance, Facilities & Capital
Work-Order Triage
Work-Order Triage is the initial assessment used to classify a request by safety, habitability, business interruption, property-damage risk, urgency,...