Real Estate Management 101

Real estate management is the process by which you oversee and ensure the successful operation, maintenance and administration of residential and commercial properties. The goal is maximization of the property value while generating revenue for the owner.

The real estate sector is complex and diverse. To provide an effective service, you need to be knowledgeable in a wide range of fields. It also involves dealing with government regulations and the need to maintain records related to your activities.

As a Property Manager, your responsibilities will include marketing and tenant screening, lease contracts, financial management, as well as maintaining properties. These tasks may be difficult, yet they are necessary if you want your properties to remain in good condition.

For managing facilities in a modern business environment, a robust evaluation framework and better data use are essential. It allows you to assess the impact of changes on your portfolio.

When considering a new real estate acquisition, you must assess its potential for supporting your corporate goals and strategies. It is important to consider the changing functions of the company and whether or not they will need to make significant changes in their facilities.

Managers must create a model of scenarios to assess how changes in these factors can affect the overall performance of their company. The model will help managers to evaluate how implementing new processes, or upgrading technology can result in lower space requirements and/or increased productivity.

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