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| 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
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