THIRD-PARTY PROPERTY MANAGEMENT IS AN INTENSELY
COMPETITIVE INDUSTRY. There are many companies vying for
work from both small real estate investors and large institutional owners
represented by asset managers. Despite differences in asset classes, markets
and ownership structures, some common threads can be seen when it comes
to what these owners want from third-party property managers. They
want their underlying investment objectives to be met. They want a stable,
professional management team on their properties. They want a partner
they can trust that puts their interests first.
Beyond this, what do demanding real estate owners want? How do they
distinguish a strong property manager from a weak one?