2019 CSCE Annual Conference - Laval (Greater Montreal)

2019 CSCE Annual Conference - Laval (Greater Montreal) Conference


Title
A decision support tool for management of small residential renting buildings: A case study

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Author(s)
Dr. Adel Francis, ETS
Mrs. Virginie Mathieu, ÉTS (Presenter)
Abstract

It is commonly known that the Montreal metropolitan area’s real estate is getting older. The existing management tools for real estate assets consider, for the most part, only large buildings. In the past, it became clear to the actors in the real estate industry that managing tools for large buildings becomes quickly profitable for the owners. However, in the Montreal metropolitan area, those types of residential buildings represent a minority of the real estate. When looking at smaller residential renting buildings, few tools are available and applicable. Therefore, the owners or managers of this type of residential building rely on their judgment to decide whether they will make improvements to their buildings. Their budgets are also based on this decision. This type of management increases the risk of unexpected events caused by bad maintenance of the components. Planned interventions would reduce the risk of those events occurring. In this paper, a decision support tool is presented to plan interventions in the management of small residential renting buildings. In fact, the decision support tool shows an overview of the actual state of the buildings and helps the manager to optimize the operating costs and the overall health over the buildings’ life cycle and to plan the annual budget and work to be done. A case study will show the benefits of using this tool for residential renting buildings.