Tuesday, August 13, 2013

Top-Notch Property Management Is Crucial to a Property’s Success

   
Michael Bull
ATLANTA, GA – In today’s market, cutting back seems to be a natural inclination for property owners. However, enhancing property management services is more important than ever.

 That was the consensus of a panel of experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty.

Bull and his guests discussed the biggest challenges facing property managers today, the different roles they take on and the growing presence of technology in property management.

Joseph S. Greenblatt
With the commercial real estate market still in recovery mode, owners might be tempted to cut property-management services in order to save some cash.

“We are seeing a natural inclination to cut costs, but more and more we see enlightened real estate investors that recognize that the best long-term return is through enhancing [management] services,” said Joe Greenblatt, president-elect of the Institution of Real Estate Management (IREM).

 While asset managers traditionally have been more concerned with the long-term financial management of a property and property managers more focused on managing a site’s day-to-day operations, those lines are becoming blurred, Greenblatt said. As investors become more sophisticated, a property manager today is expected to be more fluent in the financial analysis and management of a property.

Jay Windsor
 Property managers are also playing an increasingly essential role in acquisitions. “Property managers can make or break the acquisition process because they can look at it not just from a dollars-and-cents side, but they can look beyond the wrappings of the building,” said Jay Windsor, senior vice president of IREM.

 “They can offer insight on how to run it, and they can look for pitfalls and bigger challenges than the obvious [problems] you see when you are walking around [a property].”

 The entire asset and property management episode is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available on Aug. 15 and will feature an update on the leasing versus purchasing decision.

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404.405.2354

No comments:

Post a Comment