PROPERTY AND FACILITY MANAGEMENT
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. An example of renting is equipment rental. Renting can be an example of the sharing economy.
Facility management (or facilities management or FM) is a professional management discipline focused on the efficient and effective delivery of support services for the organizations that it serves.
The International Organization for Standardization (ISO) defines facility management as the “organizational function which integrates people, place, and process within the built environment with the purpose of improving the quality of life of people and the productivity of the core business.”
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