The term property asset management can mean different things to different people, but what does it really mean in today’s market, and what should you expect from a first class property asset management specialist?
I’ve worked in property for some 30 years now, and it’s a sector which is an ever evolving beast, subject to the demands, peaks and troughs of the marketplace like any other.
As a result, those working in the sector have to be progressive and open to change, to ensure that property services continue to meet and surpass the needs of our clients.
In general terms, property asset management is about just two things: investment protection and financial growth, both of which lead to maximising returns. It’s our job as surveyors to help our clients achieve this, but to do so, property asset management needs to evolve, and so too do the perceptions of just what it is.
Property asset management has developed into a hybrid of facility and investment management.
New technologies and new opportunities have enabled surveyors to broaden their skills and competencies, so they can become involved in much more diverse activities such as estate management, engineering design or planning and market forces to direct portfolio growth between sectors and geographical regions.
But whilst the broadening of the surveying skills base is important for clients, what can prove to be the most beneficial attribute is something much more subtle than that – an element of entrepreneurial spirit, mixed with business acumen. At Vail Williams, we have evolved our asset management service to operate outside of the traditional surveying comfort zone.
By merging entrepreneurial spirit and the experience of our surveyors, we have created a much more hybrid service, where our clients can feel confident that the advice they are being given is based on commerciality and business experience as much as it is property expertise.
This more rounded approach to property asset management adds value and allows a more strategic approach to portfolio management, ensuring an effective marriage between real estate and business growth – something which on the back of a double dip recession, is vital for clients.
It goes without saying that the traditional perception of property management involving a more hands on day to day style of facility management is an important part of the property asset management mix, but ultimately it’s as much about business management as it is about managing the properties themselves.
Only by having business management at the forefront of their minds can surveyors understand their clients’ growth plans, and respond to them accordingly.
To find out more about how you can benefit from the commercial acumen of our experienced property asset management team, don’t hesitate to contact us for more information.