Weston Real Estate Management Institute.
“Those companies that do have a long-term vision and understand how
good property management can enhance the value are more willing to embrace CPM training,” adds Li.
Although that shift often happens very slowly in many emerging markets,
Rio is seeing a rapid increase in the velocity of change. Rio de Janeiro will
host the 2014 FIFA World Cup and the 2016 Summer Olympics. As such,
there is a considerable investment pouring into the country in new infrastructure, as well as development, remodeling and restoration.
In other markets, the change is still moving very slowly. The property management industry in Moscow, for example, remains highly fragmented, notes
Alexei Mescheriakov, CPM, property management director for Spectrum
Group of Companies in Moscow. Spectrum is
an engineering company that also provides a
variety of services including architectural design, construction management and property
and facility management.
Both domestic and international companies
are demanding higher standards of management. However, owners also remain very cost
conscious. As such, higher caliber property
management is focused among the “class A”
properties, while service standards are much
lower at “class C” properties where keeping
costs low is a big priority.
Most of the property managers in Moscow
are still focused mainly on maintenance and facilities management services.
It is very rare for property managers to be involved in financial analysis or
strategic planning, notes Mescheriakov. That being said, property managers
are involved in budgeting and managing property expenses, as well as overseeing renovations, inspections, property marketing and tenant relations, he
managers with high
skill sets in the U.S.,
and the same is true
For property management firms that are looking to expand their global platform, finding and training managers can be a key part of gaining a competitive edge.
“In my opinion, having a CPM education service as part of third-party
business within CBRE is very useful when approaching the market, because
we are able to showcase our property management skills and the desire to
always improve for our clients,” says Sam Cuccurullo, executive management
director for Asset Services in Asia Pacific for CBRE.
In addition, because the CPM is an internationally recognized certification, it is also attractive in other global markets.
In Korea, good property management professionals are always in high
demand, which is why CBRE Korea decided to host CPM education ser-
vices. The company also signed a license agreement with IREM in 2012. As
of January, CBRE Korea had 22 ap-
plicants enrolled in the course.
BETH MATTSON-TEIG IS A
CONTRIBUTING WRITER FOR JPM®. IF
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