Because the role of Property Asset Manager is managing assets and maintaining a clear understanding of ROI, a more accurate title might simply be “Asset Manager”.
As defined by the Business Dictionary as Property Manager’s duties
The process of managing property that is available for lease by maintaining and handling all the day-to-day activities that are centered around the piece of real estate. Property management may involve seeking out tenants to occupy the space, collecting monthly rental payment, maintaining the property, and upkeep of the grounds.
Managing the assets of a building is no small matter and not for the faint hearted. When dollars are in the equation and why a purchase is made is on the table, the seriousness of the position is just that, serious.
Carpet, upholstery and fabric panels are not purchased at the local Dollar Store. They are costly and require research and budgetary consideration. Because of this asset purchase, property managers usually work at extending the life cycle of these textiles for as long as possible, before making the decision to replace.
We understand the importance of keeping up the cleaning with a scheduled program when talking about textile life cycle, it’s the number one reason why carpet lasts longer.
Appearance consideration is another factor, this one is more fluid as people have different thresh holds of accepted appearance.
Replacing carpet causes all sorts of employee angst, office staff working elsewhere, moving office furniture, changing electrical and internet connections, downtime for client and visitor visits and the plain ole feeling of “please don’t touch my personal space”.
When building entrances and hallways are involved, that’s a whole boatload of building occupants to account for and to consider their unhappiness.
So before you replace the textiles in your office building, take a look at their current life cycle, then check out the cost of moving people here and there and what your budget can manage this year.
You may find your ROI will be higher by keeping the carpet cleaned on a regular scheduled program. Less mess, less disruption and easier to work the security process.
And as a Property Asset Manager, that’s the best way to discuss the financials at the next building owners meeting. Higher ROI and happier building tenants that plan to stay and resign their lease.
Questions? Call us: 813.882.9655