ABSTRACT
Building Operations are considered as a Stage in the Real Estate Development Process because economic value can be created by successful Building Operators in this Stage of development. Building Operators create value by converting the constructed building to a portfolio of leases with happy tenants and accurate record keeping. The Building Operators with the large property portfolios are usually referred to as "institutional investors" and may include pension funds, insurance companies, or public real estate investment trusts. Building Operators can also be owner-users who occupy the constructed building as part of their business enterprises. Families that buy houses and make them into their homes can also be considered Building Operators. Building systems engineers oversee and provide regular maintenance of the major building systems, such as heating, air conditioning, plumbing, elevators, electrical, and security. Environmental consultants can assist in the inspection and remediation of potential environmental issues in the building.
