The term "Asset Management" is often misunderstood by real estate investors and is frequently confused with "Property Management". Asset Management is most akin to the role of the owner or principal and involves the development and implementation of the overall investment strategy for the property or portfolio. Property Management on the other hand is simply the administration of the plan created by the owner or Asset Manager and involves caring for the day-to-day needs of the physical property and tenants such as bookkeeping, repairs & maintenance, and lease administration.
Responsibilities of an Asset Manager may include: Development of entry & exit strategies, financing & leverage strategies, development & oversight of leasing strategies, evaluation & negotiation of complex leases with tenants, financial forecasting & analysis, evaluation & execution of redevelopment and/or expansion of the property, evaluation & execution of capital improvement & construction projects, hiring and oversight of the property manager, leasing agents, and other service providers, analysis & implementation of risk management strategies (i.e. capital & operating budgets, reserves, & insurance), annual review of property tax assessments & oversight of tax appeals, coordination & communication with tax & legal counsel.
The principals of Arete Real Estate Investors LLC are skilled at understanding each client’s personal preferences, investment objectives, and risk tolerance and developing a customized plan for each asset and individual. Furthermore, our Asset Management Services are designed to make what is otherwise a highly management intensive asset, a passive investment to our clients. Contact us today to discuss how we may be able to help you with existing portfolios or to learn more about how we can create a personalized real estate portfolio in conjunction with our acquisition services.