Operating Costs of Real Estate

Book Description

The accurate determination of operating costs and the knowledge of significant influential factors on these costs are crucial foundations for a holistic assessment of planning alternatives during the life cycle of real estate. The quantitative approach of the research study is based on empirical data of operated buildings in Germany. The study is dedicated to the development, validation, and evaluation of statistical models for an investigation of causal interrelationships between operating costs and a variety of potential influential factors on these costs. The main objective is the provision of essential information, models, and adequate cost indicators for an accurate determination of operating costs for an application in the field of cost planning of real estate. The practical application of the results is demonstrated in detailed implementation examples. The results of the study are directed towards architects, planners, and the real estate management and can serve as the basis for decision making and budgeting.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Table of Contents
  5. List of Abbreviations
  6. List of Figures
  7. List of Tables
  8. Abstract
  9. Zusammenfassung
  10. 1 Introduction
    1. 1.1 Background and problem statement
    2. 1.2 Scope and objective
    3. 1.3 State of the art
    4. 1.4 Manuscript structure
  11. 2 Methodology
    1. 2.1 Quantitative approach
    2. 2.2 Definition of key variables
      1. 2.2.1 Response variables
      2. 2.2.2 Predictor variables
    3. 2.3 Statistical methods
      1. 2.3.1 Pre-analysis of data sample
      2. 2.3.2 Regression analysis
      3. 2.3.3 Artificial neural network analysis
      4. 2.3.4 Classification tree analysis
      5. 2.3.5 Cost indicators
      6. 2.3.6 Performance measures
  12. 3 Data sample
    1. 3.1 Overview
    2. 3.2 Presentation of the sample
      1. 3.2.1 Response variables
      2. 3.2.2 Predictor variables
    3. 3.3 Test sample
    4. 3.4 Representativeness
  13. 4 Analysis results
    1. 4.1 Operating costs (CG 300)
      1. 4.1.1 Theoretical basis and variables
      2. 4.1.2 Model design and specifications
      3. 4.1.3 Categorised cost indicators
      4. 4.1.4 Performance validation
      5. 4.1.5 Summary
    2. 4.2 Utilities (CG 310)
      1. 4.2.1 Theoretical basis and variables
      2. 4.2.2 Model design and specifications
      3. 4.2.3 Categorised cost indicators
      4. 4.2.4 Performance validation
      5. 4.2.5 Summary
    3. 4.3 Water (CG 311)
      1. 4.3.1 Theoretical basis and variables
      2. 4.3.2 Model design and specifications
      3. 4.3.3 Categorised cost indicators
      4. 4.3.4 Performance validation
      5. 4.3.5 Summary
    4. 4.4 Heating (CG 312-316)
      1. 4.4.1 Theoretical basis and variables
      2. 4.4.2 Model design and specifications
      3. 4.4.3 Categorised cost indicators
      4. 4.4.4 Performance validation
      5. 4.4.5 Summary
    5. 4.5 Electricity (CG 316)
      1. 4.5.1 Theoretical basis and variables
      2. 4.5.2 Model design and specifications
      3. 4.5.3 Categorised cost indicators
      4. 4.5.4 Performance validation
      5. 4.5.5 Summary
    6. 4.6 Disposal (CG 320)
      1. 4.6.1 Theoretical basis and variables
      2. 4.6.2 Model design and specifications
      3. 4.6.3 Categorised cost indicators
      4. 4.6.4 Performance validation
      5. 4.6.5 Summary
    7. 4.7 Cleaning and care of buildings (CG 330)
      1. 4.7.1 Theoretical basis and variables
      2. 4.7.2 Model design and specifications
      3. 4.7.3 Categorised cost indicators
      4. 4.7.4 Performance validation
      5. 4.7.5 Summary
    8. 4.8 Cleaning and care of outdoor facilities (CG 340)
      1. 4.8.1 Theoretical basis and variables
      2. 4.8.2 Model design and specifications
      3. 4.8.3 Categorised cost indicators
      4. 4.8.4 Performance validation
      5. 4.8.5 Summary
    9. 4.9 Operation, inspection and maintenance (CG 350)
      1. 4.9.1 Theoretical basis and variables
      2. 4.9.2 Model design and specifications
      3. 4.9.3 Categorised cost indicators
      4. 4.9.4 Performance validation
      5. 4.9.5 Summary
    10. 4.10 Inspection and maintenance of building construction (CG 352)
      1. 4.10.1 Theoretical basis and variables
      2. 4.10.2 Model design and specifications
      3. 4.10.3 Categorised cost indicators
      4. 4.10.4 Performance validation
      5. 4.10.5 Summary
    11. 4.11 Inspection and maintenance of technical installations (CG 353)
      1. 4.11.1 Theoretical basis and variables
      2. 4.11.2 Model design and specifications
      3. 4.11.3 Categorised cost indicators
      4. 4.11.4 Performance validation
      5. 4.11.5 Summary
    12. 4.12 Inspection and maintenance of outdoor facilities (CG 354)
      1. 4.12.1 Theoretical basis and variables
      2. 4.12.2 Model design and specifications
      3. 4.12.3 Categorised cost indicators
      4. 4.12.4 Performance validation
      5. 4.12.5 Summary
    13. 4.13 Inspection and maintenance of furniture (CG 355)
      1. 4.13.1 Theoretical basis and variables
      2. 4.13.2 Model design and specifications
      3. 4.13.3 Categorised cost indicators
      4. 4.13.4 Performance validation
      5. 4.13.5 Summary
    14. 4.14 Security and surveillance (CG 360)
      1. 4.14.1 Theoretical basis and variables
      2. 4.14.2 Model design and specifications
      3. 4.14.3 Categorised cost indicators
      4. 4.14.4 Performance validation
      5. 4.14.5 Summary
    15. 4.15 Statutory charges and contributions (CG 370)
      1. 4.15.1 Theoretical basis and variables
      2. 4.15.2 Model design and specifications
      3. 4.15.3 Categorised cost indicators
      4. 4.15.4 Performance validation
      5. 4.15.5 Summary
  14. 5 Results summary
    1. 5.1 Identified reference quantities
    2. 5.2 Identified predictor variables
    3. 5.3 Cost estimation performance
  15. 6 Implementation
    1. 6.1 Example facility
    2. 6.2 Regression model
    3. 6.3 Binary classification tree model
    4. 6.4 Categorised cost indicators
    5. 6.5 Implementation summary
  16. 7 Conclusion
  17. References
  18. Appendix: Data sample

Product Information

  • Title: Operating Costs of Real Estate
  • Author(s): Benjamin Lasshof
  • Release date: August 2018
  • Publisher(s): De Gruyter Oldenbourg
  • ISBN: 9783110596168