1. The concept of property assets management
1.1 Definition of property assets management
The traditional property management which mainly appears as the maintenance of property itself is actually a kind of basic assets management. With the development of the times, it is crucial for property management service providers to expand their business chain to achieve more profits from providing traditional property management service to presenting elaborate assets management and various services to the owner (client) which lead to the increment of their assets commercial value. Property assets management is an evolutionary business module of property management that could be defined as 揳 general appellation refers to the activity of investment management, income admeasure, assets evaluation and register, financing management, etc.
1.2 Differences between property assets management and real estate management
The basic objective of real estate management is to manage and maintain the real estate to reach its owner抯 expectation. At present, there are two general view angles in the research of real estate management overseas: investment management and organization management. The former one mainly targets at making profits for the owner by realty investing and assets assembling management, whereas the later mainly focuses on the actual function for and affection on the owner抯 strategic objective抯 achievement brought during realty抯 management.
Thus we could say, the more a business focuses on property抯 habitation requirement, the more it should be called property management, and the meantime, the more a business targets on its investment and profits, the more it should be called assets management. Property asset management is not just the maintenance of a realty, it mainly focuses on expand and perfect its business operations by introducing the idea of real estate management and many other management modules.
2. The advantages for property management enterprises?occupation in assets management
By analyzing the conception of asset management, we could tell that the property service providing enterprises with certain capability have their own advantages in the engagement in assets business.
2.1 They know the program well
The most distinctive advantage for property service providing enterprises is that they know the property program better, because the provider itself is the fulltime exclusive manager of a program. It is an economic and effective way to assemble valid resources and consolidating the processes of the using, managing and investing.
昑hey are familiar with the hardware
After the construction of a property program, the management and maintenance of its facilities and devices becomes a key part in realty managing activity for its un-negletable affection on the easiness of the property, its commercial value and shelf life as well. As the property service provider, property management company could get to know every detail of the property, the hardware and its function. This is the advantage and capability that any third-party asset management company doesn抰 have.
昑hey are familiar with users?habits
Decided by their basic business, property management enterprises are truly familiar with their costumers?or
Clients?habits, and thus makes them the very authority that get in touch with these first hand information. For example, property management company knows the best option for a property program and potential clients by collecting the owner抯 opinion and these information got in routine operations, they could present those pertinent information to the developer of the program. And the prophase involvement of a property management company rather than those professional Supervision Company is more beneficial, for property management company are fully aware of the convenience the owner might want in the future other than just the quality of the construction which a supervision company usually bond with. This is a remarkable advantage for property management companies?occupation in property asset management business.
昑hey have the credit of owners
The owner of a property chooses his property service provider by a thorough consideration of the provider抯 capability of managing a program, qualification level and business accredit. Cooperation reflects those two cooperators?mutual trust for each other which is a great opportunity and timing for the property management company starts its property asset management business.
2.2 They have their own clients colony
Property management companies, especially those who have large amount management business, have their own clients colony most of which are potential clients for property asset management business.
?For residence programs, property management company is close to the owners and able to construct a date base for individual owner抯 requirement in which the company could find its new client and gets the information for upgrading the property抯 facilities.
?For office building and commercial property, the insider determines the actual value of the property. Property management company could help the owner choose the right business module and clients based on its managing experience and client network, and then maximize its commercial profits. The client network of a property management company includes various business managers and service providers. A good office building or commercial property accommodates a large amount of people working or shopping inside, that makes a complicated set of internal air-condition system, ELV system and network system which requires sophisticated service provider.
2.3 They cost less
Compared with third part asset management company like some kinds of agencies, property asset management has a remarkable advantage in cost.
昍eal estate development is a one time job which ends when the construction part finishes, whereas real estate management is a long term job which determines the value of a property and the ability of consistent payoff. The assembling of property management and asset management would economize much on administration cost, such as the cost on space, staff, energy resource and facility maintenance.
旾n addition, the owner would spend much less on managing his property choosing a property asset management, both in prophase or anaphase.
2.4 They抳e got the experience.
The property management company which has done lots of managing programs has the experience on various property styles and more familiar with the internal hardware and facilities. It could present professional advices for the owner on construction and client choosing for the company understands different client抯 requirements and habits. Besides, an experienced property management companies often have a bigger client colony and a more sophisticated data base of his client.
3. Abilities property management company need to improve for real estate management business
Attention has been laid on property asset management in domestic industry, but no theory system has been constructed yet, and only a few enterprises have begun their asset management practice. There are several abilities that property management companies need to improve if they want to grab the opportunity of engaging in real estate management industry.
晅he ability to orientate, to make strategic plans and to carry out the plans;
晅he ability to collect, manage and use information and construct their own client resource data base;
晅he ability to find, keep and foster professional property asset managing personnel;
晅he ability of managing and using capital, connecting with capital, respective market or industry, finding potential opportunities, connecting available resources with expanded business to improve the asset management ability and increase profits.
晅he ability to manage high-tech programs, to accumulate experience and improve the capability of property asset agency and trusteeship.
4. Group module of enterprises?real estate management
Groups in possession of lots of real estate would get remarkable profit and consistent profitable ability if they manage their real estate right. But as the paper pointed above, as a professional business operation, property asset management would not work efficiently unless it is managed by an experienced property management company which is familiar with the property and has a wide client network. For those enterprises that have realized the significance of property resource resembling, choosing a right manager company would be the most difficult part. At present, most of the groups in possession of large amount real estate have already begun their practice of resembling asset management and property service function by founding or hiring specific asset management (property service) company.
?003, a well-know university in Beijing founded its own holding company. The university is exclusively in possession of the right to keep, manage, monitor its commercial asset and equity capital, and manages the constructive and commercial affairs by itself, including the construction and development of infrastructures, development and sale of its real estate, lease of its own buildings, technique developing and consulting.
旳n international investing enterprise in Shenzhen which is known as its high-tech industry has constructed many new pattern high-tech industrial parks in Beijing, Shanghai, Shenzhen and many other municipal city including various industries, such as telecommunication technology, software techniques, cell phone factory, communication driver, biological energy and technique education. The enterprise employed the pattern of interrogative property service and asset management by hiring a exclusive property management company which turned out to be very successful.