A property manager’s job is never done. Especially not in today’s world, where the need to retain old tenants and attract new ones, combined with those tenants’ heightened expectations for round-the-clock service, have left property managers with more responsibilities than ever.
Just a few years ago, property management was about basic building services: contract negotiations, rent collection, cleaning and maintenance, says Dan Pufunt, president of property management with Jones Lang LaSalle in Chicago. Today, property managers also have to act as asset managers, with a focus on helping grow Net Operating Incomes, especially when it comes to distressed assets being taken back by lenders and special servicers.
Read more...Commercial Properties are Returning to Health, but Property Managers Remain on Active Duty via NREIonline.com