THE TIMELESS SERIES: Valuable Property Management

I have always believed that property management is one of the most critical, if not THE most critical, component in a commercial real estate investment. It’s one thing for the executives in the C-Suite to analyze, dissect, deduce, project, pro forma and re-analyze an investment opportunity. It’s a completely different matter for the investment to be brought to fruition. Beginning with underwriting the opportunity, preparing budgets, evaluating cap ex, examining rental rates and potential increases, projecting occupancy, defining the real competing properties, exacting deferred maintenance issues, forecasting exit pricing and defining staffing needs, the role of property management is the most critical differentiator in the investment. While at Bridge Investment Group, the acquisition team, of which I was a part, fully engaged the property management division as a part of our underwriting process beginning with the investment analysis and our assumptions and ending with property disposition in preparing the asset for sale. They were well beyond ‘absolutely critical’ as integral part in our acquisition, ownership and disposition process.   
 
 
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.
 
Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.
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