PRES Services

2430 North Forest Road
Suite 106
Getzville, NY 14068
(716) 633-1370

Property Management Plan

This type of plan is typically executed very well by real estate or property management companies and sometimes poorly by corporations. The focus is upon making enough investment to maintain the utility and market value of the asset, efficiently providing the service level required by the occupants, and minimizing the operational costs. A key benefit of a property management plan is being ready to repair or replace building systems on a "scheduled" vs. emergency basis. This reduces overall costs as an emergency repair of a heating system during the winter costs much more than a planned replacement during the summer. It also means evaluating the current building operation to replace or upgrade equipment with the appropriate type - a one-for-one replacement is often not the best approach.

The following items are some of the factors considered in development of the property management plan:

  • Business Issues:
    • Occupancy & Functional Value.
    • “Lifespan” (How long until proposed change under Strategic/Tactical Plan?)
    • Criticality.
  • Real Estate Issues:
    • Market Value (vs. Highest and Best Use).
    • Financial Performance.
    • Ownership/Exit Strategy.
  • Property Asset Issues:
    • Condition & Fit with Strategic/Tactical Plan.
    • Capital Improvement Plan.
    • Fit with company standards (if any)
  • Facilities Operation Issues:
    • Operating Issues.
    • Operating Cost Management.
    • Safety.

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