Understanding the ins and outs of Asset Management
Buying and owning a property is one thing. Maintaining and ensuring it generates sustainable profit is another.
This is the thrust of JLL’s Asset Management (AM) team, which is under the company’s Property and Asset Management group. Wholly different from but works alongside property management which is tasked to handle operations, engineering and structural concerns, along with financial and vendor management, AM delves into other facets of real estate that helps local owners get the most value for the properties they own, without worrying about the nitty gritty of keeping the assets in mint condition.
This specific service maintains upkeep and restores the assets of a property to its original state, particularly for individual units and its deliverables for the absentee owners. Among the services that fall under AM are resale- or property selling and pre-selling or project selling. It also involves lease and tenant management; negotiation services; financial management for those who are not present to tend to their own property; fit out services; and, preventive maintenance of assets and equipment.
It caters to corporate and personal leases, partner brokers, investors and first time home buyers. It is also aimed at active clients of JLL from other business lines like JLL’s Property Management Services.
According toPhilip Mareschal, Head of Property and Asset Management (PAM): “JLL is the pioneer in Property Management here in the Philippines, and continues to be the top of mind provider for the real estate service. We are tapping into the commercial buildings that PAM is handling to build relationships and to create rewarding opportunities in our asset management with the goal that they may generate corporate accounts from it”.
Patty Lopez, Senior Manager for Asset Management avers: “PAM Services is a one-stop-shop. Many of our office owners have a residential component to their business. We offer services that add to our business leadership strategy and help address areas of improvements in the unit that will result to customers’ satisfaction.” She adds that a third party cannot deliver or sustain the same services and standards that AM can perform for the company and its clients. As for JLL’s AM team, Lopez says they take pride of their proven track record of repeat business and growing referrals owing to the high level of privacy they give to their clients and their information records.
With the notable growth of the Philippine property market, AM is something best left to the experts like JLL. And with its reputation as the leading property advisor in real estate and management, the domestic market can be certain that their property’s assets will be managed well and grow into its maximum potential.
