Ask Our RICS Expert
Are you looking for expert advice regarding property asset management? Edward Prentice's practice is based in Kent, and we provide our clients with expert advice using our extensive knowledge and experience. We offer a range of services to ensure we meet all our client's requirements. Edward Prentice is very knowledgeable in the asset management sector due to lecturing in various complex asset management and other related subjects and attending conferences and seminars worldwide.
What is Asset Management?
Asset management is the process of calculating the market value of a property to improve its financial situation and earnings. The role of an asset manager is to manage someone's assets for them by assisting them with providing financial advice and helping them make making adept investment decisions that will improve their business strategy or property value.
We can help with
Hiring Property Managers
Communication with clients, estate agents & other investors
Why would you need asset management?
If you own a commercial property with a business and would like to expand further and increase the value, then you should hire an RICS chartered surveyor to help you. We can assess your situations and give you advice on how to advance them. We act on behalf of ourselves to help grow your portfolio.
Our job is to make sure your profits don't decrease and to prevent the risk of losing money. If you are an investor and decide to buy a property to earn a profit, we can work with estate agents around the local area to find the market value and help you to increase the value for future sales. To do this, we must keep updated with financial and investment news and make sure our research continues acquainted.
How can we help?
Our job is to help you decide which investments people should take on and which to leave. These decisions mean considering different factors, including:
The investment must be made at the right time to be able to access the most potential and value.
Will the location of the properties help or jeopardise the amount of business, or will it decrease or increase market value?
Part of our many jobs is to manage our client's funds; therefore, we must make sure there will be enough to cover all requirements.
We want to make sure our client will approve and be happy with the decision.
Will the decision we make add value to your property?
Lease AdvisoryLeasehold Advice
Property valuationProperty Valuation
Land and DevelopmentLand Development Advice
Boundary Issues AdviceBoundary Disputes
Matrimonial ProceedingsProperty Valuation for Divorce
Covenants on a PropertyCovenants on a Property
Valuation for InvestmentInvestment Property Valuation
Asset ManagementProperty Asset Management
Landlord & Tenant AdviceLandlord and Tenant Disputes
A Property Asset Management Strategy & Plan
A Property Asset Management Strategy & Plan To get the most out of your property is what all landlords want and having a clear strategy is essential to achieve this goal. The first thing is what are you willing to pay to get the outcome you desire. This might include paying initial costs for changes to the property for development and enhance its usefulness. For these changes, you must also set out a realistic goal and time frame for how they should go and which order they go in.
If you wanted to remove the flats and make them a separate lease from the shop below to get a better return, some expensive problems could occur if not handled correctly. Some things you may need to clarify are the utility supplies and the separate access and fire compliance. These things, if not handled properly, can become very expensive and easily unprofitable.
The Differences Between Property Management and Asset Management
Understanding the difference between asset management and property management is something that some people are asking about.
In property management, you would have the bare basics to look after. This involves ensuring that the landlords or tenants carry out any maintenance and compliance work required according to the lease. Some other parts that you or the landlord will include arranging all the correct insurance coverages are applied for and bought, and service charges are paid for. Also, make sure the rent is satisfactorily paid and regularly paid.
If you leased to a shop on the ground and flats above, you could also start looking at early negotiations for the lease renewal. This might include looking at interim rents and how any newsagent sets up the flats and goes through any authorised sublets.
In asset management, you start to look at longer-term solutions and wiser costs. This might involve looking a the lease with your current tenants. This might include looking at how much the property costs now (x), but if the tenants were to move, how much would the whole place cost then (y).
You might also look at the new terms from your tenants if you agree to their terms, but you should know their priorities to get the best outcome. This new lease may include their terms being that they have an initial rent-free period. This might be helpful for the tenants as this allows them to get cash flowing again and get back up and running.
Other options may include leasing the shop's ground floor back but having the flats as a separate long-lease. This might create interest.
Many opportunities can be opened from looking at things long-term and having many changes to increase market rates. There are some data that asset management teams miss, but property asset management teams do not.
Speak to our expert today about property asset management.