Asset and property management

Property management and asset management are two different professions.

Property management concentrates on the day-to-day operations of a property.  People who work at specific properties are typically fulfilling property management responsibilities.  A property manager maintains the value of a property.  Property management includes, but is not limited to:

• Maintenance of the property and facilities

• Renting dwellings, sites, rooms, etc.

• Collecting rent and other charges

• Working with staff and contractors

• Dealing with resident, tenant and guest issues

• Enforcing rules, regulations, covenants, guidelines

• Risk management

Asset management is centered on financial matters; maximizing the return on investment and value of property.  They are adept at streamlining operations and repositioning a property to reduce costs and increase income. Asset managers understand real estate as an investment.