Any organization including schools has an underlying asset management initiative. Asset management is the best use of an organization’s asset to realize the value and provide its best possible returns. Every school has assets on which it has to be responsible for. It is, therefore, prudent for the school to have a school asset management solution for improvement of its services to its stakeholders. The following are the main reasons why professional property management in schools is advised
The Importance Of Managing School Assets Professionally
Lowers incidences of misappropriation
Cases of theft in schools have become very rampant lately. This is because most school assets are left in the hands of incompetent school management. With a professional asset management company, responsibility for the assets is shifted to it and chances of theft are minimized if not eliminated.
Keeping track of its assets
The school board of directors may not be able to track every school asset, therefore, need for a professional management company.It enables knowing the whereabouts of the assets, what they are being used for and any changes to the assets.This also ensures removal of ghost assets which may have been stolen or damaged and maintenance costs allocated to them.
Easy management of assets in separate locations
Many schools are setting up branches in different locations to reach the ever increasing population thirsting for good education. This means investing in different localities. These assets can be well managed by use of a management company to give one picture of the whole assets value.
Aids in asset recovery
Asset management companies ensure a smooth transition as asset recovery tool is set up by the professionals. For example, if an asset is deemed obsolete, it will be easier to replace it with provision for its depreciation was considered. It ensures school programs are not interrupted. Reports to support the argument are secured in a reliable backup database for reference even in future.
Saves on maintenance costs
Proper maintenance is ensured, and this comes in as an advantage to the school. This is because the professionals ensure that the assets are neither over maintained which is an extra cost to the institution nor under maintained which will mean incurring a lot more to bring the asset to shape. With proper asset management, the institution will be able to secure more assets that were not available before thereby optimizing your operations and leading to the growth of the school.