Property Management

ASSET MANAGEMENT | PROPERTY MANAGEMENT

To be a successful when it comes to being financially independent, you need to have a tactical strategy. That is why to reach your goals in property investment, you need property asset management. It is the answer to correctly establish a well-defined strategy in buying, and upkeep of the property until it is sold.

To be a successful when it comes to being financially independent, you need to have a tactical strategy. That is why to reach your goals in property investment, you need property asset management. It is the answer to correctly establish a well-defined strategy in buying, and upkeep of the property until it is sold.

Every successful investment doesn’t necessarily mean it’s managed by professionals. However, it does help in your success if you get experts to assist you when it comes to property management.

Understanding Asset Management & Property Management

To be able to dig deep about property management, you need to know the basics.

Asset management is the whole process of managing your assets. It goal is to reach the maximum possible gain for your investment while spending lesser for the repair, rehabilitation and replacement of the asset.

The question, what is the current state of my asset, is important in asset management. When asked, this question can give the current condition, profitability, cost and value and more regarding your property. You can then obtain the information you need to make a projection on how much money you’ll spend and how much you’ll gain in the whole process. And most people tend to forget or overlook the information regarding decay curve of the investment, it is the length of time you can get profit from a particular asset.

Once you have the asset’s condition, you can now have an idea for what to expect on your asset. Starting there, you can review the critical areas of your property. When it comes to risk management, you need to think of the possibilities that your investment can fail. If you have an idea of how to manage this, you’ll have a backup plan ready which is an important part to be successful. If you can correctly analyze the possible cause of failure in investment, it can help you make specific response plans in the future.

For asset management, you also need to understand the life cycle cost of your entire investment. You need to look at the operations, maintenance, capital budget, personnel to successfully run your investment. It is advisable to make a breakdown of all costs you need to make repairs or replacements for critical areas in your property. Doing this, can help you use predictive maintenance that can save you money rather than reactive maintenance that can cost you more and spend money unplanned.

In terms of money, you need to know what your funding strategy is. You will always need sound financial decisions for good property management. You need to have sufficient amount of funds to maintain your assets and that source needs to be enough in the long run. For this step, you can borrow or get financial assistance.

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Citrine Property Investors

ADDRESS
PO Box 3177
Wetherill Park, NSW, 2164
Licensed Real Estate ABN 79 108 622 724

PHONE
Direct phone: (61 2) 9822 9453

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Areas we can help you with

How to find us

Citrine Property Investors

ADDRESS
PO Box 3177
Wetherill Park, NSW, 2164
Licensed Real Estate ABN 79 108 622 724

PHONE
Direct phone: (61 2) 9822 9453

citrine-property-investor