ABSTRACT
Pivotal in that success are those involved in property management and facilities management. They provide the critical link between the owners, their corporate objectives and the asset itself in its day-to-day ability to earn income and operate effectively and efficiently. This chapter describes this interface and the manner in which these duties are performed in a contemporary environment. It considers the management issues for various real property asset types. Facilities management refers to strategy, technical and operational matters and activities aimed at securing the optimum performance from a particular building asset. The establishment of an agency agreement, such as a property management agreement, should be in writing. Property management is a mixture of work in the office and fieldwork – inspecting buildings, meeting with owners, tenants, service providers and so on. The property manager needs to be in regular contact with the stakeholders, as well as conducting periodic, physical inspections of the building.
