Asset Management comprises the following services: Property Management, Facility Management, and Property Development.
Property Management is the maintaining activity which includes e.g. the collection of rents, accounting, budgeting and calculation of operational costs, service and supervision of the property. Focus is put on monitoring of the rental income and operational costs as well as contact with the tenants.
Facility Management comprises activities related to the maintenance of the property, janitor services, replacement and/or repair of technical installations, etc. to keep the tenant(s) satisfied.
Property Development is the offensive or aggressive activity which may be launched in order to optimize and increase the value of the property - and thus the investment. Property Development activities comprise development, adding on / alterations of the building, preparing the building to suit a new tenant's specifications, etc. Property Development activities go beyond daily administration and service and repairs, and should be considered as very important in the adding of value to the investment property.