Managing properties is easier said than done. Property owners and developers who own large real estate portfolios need dedicated real estate management services providers to help them maintain and manage their assets. This article will tackle real estate asset and project management and why investors should look for one for their properties.
Real estate as an asset
Real estate is often purchased by individuals or organizations as an investment or end-use. There are many kinds of real estate asset classes. Starting from residential, commercial, industrial, and mixed-use properties. All of them have their unique qualities. What happens to a property can be up to the owner. Whether it is leased out or sold off for profit.
The challenge of real estate comes not just with how it is maximized (e.g. leasing). It is also how such an asset is protected and preserved. Through a dedicated and professional team of managers, engineers, and technical personnel.
The role of asset managers
Real estate asset managers review and manage property portfolios. They also look for ways to further grow and expand the current portfolio. To maximize returns, the properties are maintained and taken care of. They are different from property managers who mostly focus on public areas of buildings, including daily operations. As well as maintenance of properties and dealing with tenants and owners.
Asset managers are in charge of helping owners make important decisions regarding the real estate portfolio, avoiding risk and exposure. These are experts in the real estate market. They can promote one’s property to potential tenants. At the same time oversee important maintenance and repair works, from air-conditioning to construction. They are the complete and end-to-end partner in handling one’s portfolio of properties.
A misconception is that only corporations would need professional asset management services. In fact, individual investors with large portfolios can outsource asset management from professional service providers with strong track record in tenancy management, leasing and marketing, and property & facilities management. Employing professionals help avoid penalties and costs incurred by owners in legal, compliance, and tenant-owner issues. In addition, ensure that processes are streamlined and cost-optimized.
Asset managers keep track of your portfolio
Owners who have properties scattered across different locations may have a hard time visiting each property to check up on them. What real estate asset managers can do is better track how the assets are being used and the changes made to the properties, and turn these into data. This would mean data such as income generated by the assets and other related financials. This data can then be used to improve returns for the owners. Get valuable insight on the right strategy to take for the properties.
Asset managers help find and take care of your tenants
Owners based outside the Philippines and who own a number of properties such as condominiums within the country will discover that it is cumbersome to deal with finding tenants by themselves. Getting a professional and trusted real estate asset manager can help solve this issue by helping owners find the right tenants for their properties, maximizing the returns to their investment. This is perfect for owners to be able to get their peace of mind while they let the professionals handle the tenancy process.
Asset managers maximize your portfolio’s value
A dedicated asset manager can help owners better realize the capabilities of their real estate portfolio, and make better strategies to maximize its use for the best returns in profit or in productivity. They have the experience in the industry to identify the best course of action to take for maximizing the property and better optimize other business activities from planning to overall management.
Asset managers handle operations, maintenance, and repairs
Whether commercial or residential, owners who do not have their own team to manage their properties can benefit from a professional asset management team. It can be easy to either go overboard with maintenance which affects the returns or under maintain properties which can lead to reduced productivity. Real estate asset managers are experienced in handling various assets and thus have their own asset management techniques. Having a partner to help with the operation and maintenance (from air-conditioning and repair works to construction project management) can help keep costs in check and operations be as efficient as possible.
Explore real estate asset management with Santos Knight Frank
Work with an experienced real estate services company with a glowing track record. Santos Knight Frank is the partner in property that offers end-to-end solutions and real estate management services for condos, houses, and more.
Founded in 1994, Santos Knight Frank is the Philippines’ first and largest fully integrated real estate services provider, with clients that include multinational corporations, institutional investors, occupiers, owners, and developers of real estate locally and across the globe. Learn more about the real estate services offered by Santos Knight Frank by visiting https://santosknightfrank.com/.
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