I am in the process of working with one of my good clients on the purchase of another office building near a site that he already owns. He has made it a point to request CAP Rate details on anything he considers prior to taking a real "look" which to many owners makes sense.
We presented him with an Annual Property Operating Data (APOD) form on the property with the "actual" operating data today, as well as with the "re-casted" numbers based on our management of the site.
Almost without exception, I have yet to have been involved in the sale and managment of a buidling where we have not seen a one - to - three point difference in the net numbers to a new owner of a site we sold on the investment side due to gaining real effientcies and economies in professional managment. And we expect our owners to see it from day one!
Professional Property Management requires lease mananagement, risk management, contract and labor analysis, facilities best practices and a staff ready to meet the day to day needs of the tenants as well as the expectation level of the ownership.
My suggestion for those of you that are listing and selling investment properties that have true potential for a new owner/investor, talk to your property managers, or if you don't have a management division, look for one to cooperate with. Many properties are "diamonds in the rough" that just need a little polish.
Professional Property Managers and their Sales and Leasing bretherin can form a solid team and make your owners and investors clients for a lifetime!
Property Managment is Real Business and delivers Real Results.
Comments(0)