Chapter 22

Chapter 22 - Chapter 22 Enhancing Value Through Ongoing...

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Chapter 22 Enhancing Value Through Ongoing Management 4/1/08 Management Intensive Nature of Real Estate Ownership of income producing property involves providing services to the users of the space (tenants) on a recurring basis. Effective management of real estate asset is vital to achieving maximum investment value. Decisions involved in the management of property includes both operational (short term) and strategic (long term) issues. Property Manager- deals with the day to day operations of a property; a core functin of property ownership that has a direct impact on property value. The goal of property management is to maximize the value of the property. Asset manager- involved in decisions affecting the physical, financial or ownership structure of the property; strategic in nature. Functions of a Property Manager Marketing- leases regularly expire, so real estate has to be marketed on a continuous basis. A combination of promotional tools are utilized to maximize the benefits of
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Chapter 22 - Chapter 22 Enhancing Value Through Ongoing...

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