Property management relies on efficiency, improvement or makeover, which was or is identified either at the time of acquisition or as part of the due diligence or during the regular maintenance inspection:
- Space-related measures
- Aims
- Better use
- Higher returns
- Plot area
- Utilisation of spare space
- Boundary adjustment
- Consolidation
- Making areas lettable that were previously unlettable or were not let
- Development of these areas
- Conversion of lower value space into higher value space
- Conversion of general areas or entrance areas into lettable space
- Space consolidation
- Space splitting
- Addition of a storey > cf. Redevelopment
- Inefficient shell with no optimisation potential
- Enlargement of the building by creating lettable floor plans
- Replacement newbuild
- Aims
- Use-related measures
- Aims
- Improved structural use
- Increased yield
- Acquisition of part of the utilisation coefficient / area from the adjacent (so-called utilisation transfer)
- Re-zoning application
- Additional zoning application
- Aims
- Structural measures
- Aims
- Improve attractiveness / makeover
- Increase value
- Frontage appearance
- Building entrance / infrastructure facilities
- Separation of entrance and waste disposal sites
- Arrangements and measures that create a neat appearance
- Use of low-maintenance and yet attractive materials
- Installation of automatic door locking mechanisms in the infrastructure rooms on the ground floor and so on.
- Aims
- Building services measures
- Aims
- Cost saving
- Investor
- Tenant (reduction of service charges)
- Greater comfort
- Rent increase
- Cost saving
- Enlistment of specialist planner (heating and plumbing planner)
- Heating and plumbing arrangements
- Electrical installations
- Optimisation of other works (maintenance and renovation)
- Infrastructure facilities, inside and outside the building
- Lighting
- Maintenance
- Cleaning
- Aims
- Maintenance measures
- Aims
- Optimisation of the general appearance of the property investment
- Appreciation
- Optimisation of the appearance of the building
- as a factor in the decisions made by tenants
- for the purposes of tenant search and tenant loyalty
- Optimisation of exterior surfaces
- Aims
A cost-benefit analysis should always be made and the effects on the value of the property should be estimated.