Beacon Wood define Property Asset Management as the implementation of a business plan drawn up in conjunction with a client and relating to a property or a portfolio of properties.
Asset Management also includes understanding and tailoring financing to a specific property to match the timescale set within the business plan, and to mitigate as far as possible any risk from the financial markets.
It will also include strategies relating to lease renewals, rent reviews, amendments to leases and dealing with incentives to tenants or prospective tenants to enhance either cash flow or capital value, or to minimise risk. In addition management of empty rates and refurbishment of properties is a significant part of any informed asset management strategy.