Real Estate Management Processes

No matter what particular type of real estate your business has evolved ? residential, commercial or industrial ? a successful business model primarily  focuses on real estate performance metrics, which help to streamline financial and operations processes. Monitoring the factors that affect the business particularly enhances the ability to improve the whole portfolio performance.

Appropriate performance measures can include calculation of rates of return, space quality and comparison to market, unresolved transactions, monthly feedback by staff, accuracy and completeness of property records, quality assessment of properties, client surveys on staff performance and occupancy patterns.

Occupancy rates can be increased on condition of the availability of the right amount of space at the right time ? that’s what prospective customers usually await. Meeting their expectations is key to customer retention and consequently to higher performance level.

In addition to other information, the occupancy rates can be viewed by property, lease changes, rent roll, operating statements and accounts receivable information. If the company gets the actual data, from accounts payable and receivable to lease origination and occupancy patterns it manages the entire portfolio cost effectively.

Building up value oriented real estate management, property companies look forward to the optimization of the portfolio and the relevant services seeking to measure strategic orientation, structures, processes, qualifications, performances together with the costs and resources by certain benchmarks.

Benchmarking is a continuous learning process targeted at creating advantages by means of identifying the problem, whether it is realization in profit or cost reduction potential, and finding the right solution. The latter can be the result of a profound analysis of the company’s own experience as compared with others’. The points of the comparison may be standardization of properties information, a uniform performance measurement, identification of performance gaps and others.