Improve compliance in estate management
Managing regulatory compliance activity in estate management and ensuring you’re adhering to legal requirements and regulations is crucial for businesses in terms of risk mitigation, health and safety and smooth operations.
It’s important to understand the regulatory obligations for your commercial and residential properties. A lack of demonstrable control, status and forecasting could lead to legal issues in safeguarding and protection.
The regulations focus on providing a safe and comfortable working environment for the occupiers and public with safe systems and processes in place to manage the building elements, including HVAC, electrical systems, fire sensors (including Fire Risk Assessments), sanitary water supplies and mechanical plants.
Avoiding sanctions in estate management
To avoid fines and criminal proceedings, property owners must ensure their properties continue to meet legal requirements by carrying out regular inspections and ensuring any necessary remedial or corrective measures are executed promptly and efficiently.
Having estate-wide visibility with a Compliance heatmap against the regulatory inspections supports understanding of where to focus attention first.
Lease management
If your business owns or operates from a leased property portfolio, it is essential to have an estates database. A Common Data Environment holding all appropriate data and documentation for your estate. This can include location and contact details, drawings, certification, registers, Fire H&S documents, asset records and warranties etc.
It is also essential to have visibility of all Leases, including renewal dates, breaks and rental payments. Your estate’s management solution should notify the relevant persons in good time before the event so that appropriate actions are employed to benefit from every lease expiry and break event.
With leased properties, the Finance teams will need to report the Lease liability on their P&L accounts to satisfy IFRS-16 requirements. With multiple leases, all with varying terms, breaks and rental payments, it will be an immense challenge to ensure effective management is achieved and opportunities are not missed without specific software in place.
How WorkSavi can help you stay compliant in estate management
Our platform is designed to support estate managers with daily operations and help you stay compliant and up-to-date at all times. Here’s how…
- You can set up property databases easily and import all data directly
- You will be able to see the status of your entire estate in one place
- You can see when important events are looming and set notification reminders in good time
- You can send notifications to your entire team so they are accountable for their compliance activity
- You can manage the compliance inspection dates, compliance projects and costs through WorkSavi’s project Management module.
- You can store important documents in one place – meaning everybody has access to the correct documentation when it’s needed
No more plate spinning, no more missed deadlines. With WorkSavi, we make regulatory compliance and estate management simple.
Need support in getting set up, speak to your account manager for tips and advice. New to WorkSavi? Book a demo to learn more about the features available to you.
