Business Planning & Budgeting: The Role of the Real Estate Asset Manager

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Product Description

Business planning and budgeting are two distinct, yet complimentary, processes requiring asset managers to not only synthesize investment objectives articulated by portfolio managers and ownership groups into “strategic and tactical guidebooks” for properties, but also work with property managers and leasing agents to ensure the revenue and expense projections included in such plans are realistic in light of market conditions.  This report focuses on how asset managers use business planning and budgeting to create value and achieve the investment goals of the companies they represent.  Some of the topics the report covers include:  

  • The asset manager’s role in developing strategy
  • Responding strategically to market conditions
  • Implementing the business plan through strategic budgeting
  • Practical considerations for real estate investment management firms
  • Recommendations for those who work with, or aspire to be, asset managers

The report digs deeper into several of the asset management functions identified in IREM’s research report "Real Estate Asset Management: A Process and a Profession", drawing upon ongoing contributions from practitioners representing real estate investment and service firms in the United States.  It was written by Dustin C. Read, PhD/JD, as part of IREM’s Real Estate Asset Management Initiative.  Dr. Read serves as an Assistant Professor of Property Management and Real Estate within the College of Liberal Arts and Human Sciences at Virginia Tech. 

Copyright: 2017
Format: Soft cover; 34 pages
ISBN: 978-1-57203-261-3

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