In order to understand property asset management, it is first necessary to break down the terms. ?Asset management? refers to coordinating or overseeing the acquisition, management and disposition of assets in such a way as to maximize the financial value of the asset to the investor. An ?asset? can refer to anything ?of economic value? like cash, inventory, or office equipment, but in this case refers to real estate property.
Keeping this in mind, property asset management involves a property asset manager overseeing investment properties for the owner for the life of the investments, and in some cases making decisions about acquisitions, management, and dispositions on behalf of the owner. As stated above, these decisions should always maximize the value of the owner"s portfolio. Property asset managers might also act as the investor"s real estate agent when properties are being bought or sold, advise clients on a consulting basis, or be employed on retainer if an investor is bidding on a long term property development project.