‘’A fellow oughtn’t to let his family property go to pieces.’’
(Anthony Trollope, English Author)
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 includes understanding and tailoring financing to the property to match the timescale set within the business plan, and to mitigate risk from the financial markets as far as possible.
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 asset management strategy.