ABSTRACT
Management involves two related and often overlapping strands; the fi rst largely but not exclusively repetitive and reactive elements, the second strategic. The property manager’s task is to manage all aspects of a client’s portfolio to its full potential. In the process, there will be opportunities for the manager to consider a range of actions designed to enhance the return or the benefi t to the client. It could involve routine actions such as negotiating to transfer the maintenance and insurance of the premises on lease, improving unhelpful review patterns, obtaining possession to facilitate a change of use to a more profi table one or obtaining better fi nance facilities. It could consist of embracing an unexpected opportunity to combine with others in achieving an element of redevelopment in the vicinity which would not be possible alone. A successful conclusion of such negotiations could be expected to increase income fl ow or prospective capital gains or both, enabling the property to outperform previous predictions or expectations. To provide an optimum level of performance related management requires a dedicated and imaginative strategic team devoted to the long-term exploitation of the asset.
