What are the goals of asset management
Real estate asset management (also: Real Estate Asset Management) describes the initiation, planning, control, implementation and success monitoring of all steps in relation to a single property or several real estate objects. The central task is the strategic management of all value creation activities in relation to real estate investment, which are aimed at increasing the value of the property. Asset management can be located on the strategic property level below portfolio and investment management.
What tasks is real estate asset management dedicated to?
Asset management means the management of fixed assets - so-called "assets". An asset manager is dedicated to managing assets, in our case real estate. Overall, this includes all measures that are necessary for the management of properties and real estate portfolios within the entire investment cycle. The central services in asset management include the analysis and assessment of both individual properties and real estate portfolios. In addition to the identification of value creation potential, strategic questions about the management and optimization of individual properties are the focal point of asset management.
As part of the control of real estate asset management, it is important to continuously check whether the individual properties are achieving the desired return or whether measures can still be taken to optimize them. This includes, for example, the revision of rental contracts as well as the management of external service providers and the holistic management of in-house portfolios over their entire life cycle. Asset managers continuously monitor the property's value retention and develop measures to optimize the property portfolio in the best possible way.
Last but not least, reporting to portfolio management and the banks is an important area of responsibility of the real estate asset manager. For this purpose, the asset manager prepares all relevant information and financial key figures for the owner or the investors so that they can make decisions quickly and easily.
What are the goals in asset management?
In asset management, the aim is to "maximize the value" of the property portfolio of the owners or real estate investors. The profitability of the real estate portfolio should not only be maintained, but in the best case also increased. It is important to create a triad of inventory optimization, investment and sales within a sustainable strategy. It is also crucial to respond to the investor's individual investment ideas. This includes, for example, which return targets the investor intends or how high his risk tolerance is. The focus is on the consideration of the costs and benefits of the individual activities and the investment risks in real estate management.
What is the difference between property management and facility management?
While property management and facility management focus on the day-to-day management of individual properties, asset management is dedicated to increasing the overall property value for the purpose of investments. In the end, the success of the asset manager's activities can be measured by how effectively the holistic real estate management was carried out.
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