Encapsulation in real estate refers to the process of covering or enclosing hazardous materials to prevent the release of dangerous substances into the environment or to minimize exposure hazards. It is commonly used for materials like asbestos and lead paint in older buildings, offering a safer and often more cost-effective alternative to removal.
Facilities management involves the processes and services that support the core business operations of an organization, ensuring that the environment is managed effectively and efficiently.
A maintenance reserve is a fund allocated by property owners or a property management entity specifically for maintaining and repairing a property. This financial reserve is crucial to ensure that a property remains functional, safe, and visually appealing over time.
An office building is a structure primarily used for conducting business activities such as administration, clerical services, and client consultations. These buildings can vary in size and may house one or multiple business concerns.
