FM4.16: Understanding property and asset management for facilities managers

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Unit FM4.16: Understanding property and asset management for facilities managers

The assessment criteria form part of the unit and specify the standard that a learner is expected to meet to demonstrate that the learning outcomes within the unit have been achieved. The additional guidance, which is shown in brackets and italics alongside the assessment criteria, does not technically form part of the unit, in that it is not included in the reference version of the unit shown by the Register of Regulated Qualifications. The additional guidance is provided to illustrate how the assessment criteria might be interpreted. The IWFM will generally expect assessors to interpret the assessment criteria as described, or to an equivalent level of demand.

Aim of the unit:

This unit enables learners to develop knowledge and understanding of the principles and practices of property and asset management in a range of different scenarios and how to plan and manage property relocations.


Understanding property and asset management for facilities managers



Credit value:


Learning outcomes


A learner when awarded credit for this unit will:

Assessment criteria

Assessment of this learning outcome will require a learner to demonstrate that they can:

1. Understand the requirements of property leases

1.1 Describe different types of leases and other contractual arrangements between landlords and tenants.(including general leases, finance leases, true leases, operating leases, skip leases, deferred leases, pre-paid purchase leases and sub leases)

1.2 Explain the ways in which leases are created and administered (no additional guidance)

1.3 Identify the key legislation affecting the ownership and use of property and assets (including specific legislation (such as property, covenants, planning consent, CDM, sustainability & carbon legislation as they apply to landlord/tenant agreements, tax legislation, business rates) and more general legislation that has an impact (such as the Disability Discrimination Act, Sex Discrimination Act, Race Relations Act)



FM4.16: Understanding property and asset management for facilities managers


1.4 Explain the obligations of landlord and tenant to each other (supporting the explanation with examples of the landlord’s obligations (e.g. repairs to the structure, exterior & interior of the property, safety of gas and electrical appliances, fire safety of furniture and furnishings) and of the tenant’s obligations (e.g. paying rent, utility bills and council tax, and taking care of the property) rather than trying to provide an exhaustive list)

2.  Understand    property    costs    and charges

2.1 Explain the costs associated with occupying or owning property. (providing an overview of both capital and revenue costs)

2.2 Explain how the property costs, taxes and associated charges can be managed. (including the different financial reporting and tax implications of ownership and leasing)

3. Understand how to set up and manage registers for property and fixed                                        assets

3.1 Explain the principles, rationale and costs involved in setting up and maintaining a property and fixed asset register. (including financial, maintenance and legislative compliance)

3.2 Describe the technology that can be used to assist in setting up and managing such a register (including the range of available technologies, from the spreadsheet to the CAFM package)

3.3 Describe the information which can be obtained from a property and fixed asset register and explain how this can be used to advantage by management (illustrating the description with example/s from the learner’s own experience and/or case studies, rather than trying to develop an exhaustive list)




4. Understand the factors involved in property relocation

4.1 Explain the different factors involved in property relocation to fulfil business requirements (supporting the explanation with example/s from the learner’s own experience and/or case studies (e.g. handover procedures, space planning, change of use, cost reduction, consolidation, novation of contracts, TUPE, sustainability, corporate & social responsibility, employee relocation, redundancy, morale, motivation), rather than trying to develop an exhaustive list)

Unit expiry date

31 December 2024

Unit reference number


Link       to Standards




FM Professional Standards reference

FM functional area:

FM      functional component:


Business Continuity and Compliance


Property Management


Property      and Management




A-Z of Facilities and Property Management by David M. Martin

Facilities Management: An Explanation (Building & Surveying) by Alan Park Outdoor Site and Facility Management by Wynne Whyman

Recreation Facility Management by Richard Mull, Brent Beggs, and Mick Renneisen

1.1 Describe different types of leases and other contractual arrangements between landlords and tenants.

Corporate Property Management: Aligning Real Estate with Business Strategy by Victoria Edwards and Louise Ellison

The CompleteLandlord.Com Ultimate Property Management Handbook by William A. Lederer Property Management by Robert Kyle, Floyd Baird, and Marie Spodek

Property Asset Management by Douglas Scarrett

GIS in Land and Property Management by Dr Martin P Ralphs, Martin P. Ralphs, and Peter Wyatt Economics of Property Management: The Building as a Means of Production by Herman Tempelmans Plat

Business Occupier`s Handbook: A Practical Guide to Acquiring, Occupying and Disposing of Business Premises by Clifford Chance and Vicky Rubin

IWFM Good Practice Guides FM World -

Facilities Management Journal -

FM4.16: Understanding property and asset management for facilities managers

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