Property Managers use the term “asset management” frequently without truly understanding the requirements that institutional investors, lenders and tax credit partners have. If you are looking for an asset management firm in Western PA or Western NY please contact us.
The Institute of Real Estate Management (IREM) says that the focus of a real estate asset manager:
“is on the property as a financial asset, and decisions made by asset managers are those that impact a property’s financial performance. In many cases the asset manager is the representative of the owner and responsible for selecting a third-party management company and monitoring the performance of that company. In all cases, the emphasis of asset management is on activities that will add value to each property under management… as a rule, the asset manager always has an eye toward long-term appreciation of the property as well as short-term cash flow.”