chapter  2
Policy formation and implementation
Pages 22

The objectives of property management are to maximise the net return whilst preserving and enhancing the capital value and future of the subject matter.

The return may be variously measured in terms of income and income growth or capital appreciation or a combination of the two, in transformation of an asset by development to achieve a different and enhanced asset or to achieve any other stated objective which would normally have a direct financial outcome but not necessarily so. The process has many similarities to any other management task, in general requiring the definition and evolution of policy and its implementation.