ABSTRACT
This chapter outlines key aspects the property asset manager needs to know. It describes some of the key factors impacting on the evolution of property asset management. Management as a distinct discipline was developed about the time of the industrial revolution, but the principles are of limited direct value to the property asset manager. The property market is made up of land and buildings used for a variety of purposes and owned as investments by a wide variety of organisations. Property management requires staff experienced in the legal, financial and valuation aspects of management, but the real difference is that every property is unique. Property asset management may take place against a variety of backdrops. Property asset management is one specialised part of the surveying profession. The chapter describes the property management role where that aspect is sufficient to justify and require maintenance of an expert team, supported by technical and office staff to undertake the necessary ancillary roles.
