What’s the Difference Between an Asset Manager and a Property Manager?

 

Michael-Fourte-Property-Management-1080x675While it may sound like property management and asset management are different names for the same thing, the two careers are actually very distinct in nature. Both are essential parts of managing real estate properties, but the two roles handle different aspects of management.

A property manager is a person that handles the day-to-day of property operations for both commercial and residential real estate properties. This includes scheduling repairs, handling leases and collecting rent. An asset manager, however, focuses on maximizing and adding long-term value to a property, typically for commercial properties. This includes acquiring new properties, market forecasting and research, and financial analysis. This role requires more strategic thought in order to enhance the property and add extra value.

The lack of distinction between the two roles also stems from property managers being expected to do more at certain real estate firms. In some firms, there is a clear line between the two roles, while at others the line is much more blurred. Many property managers today are also responsible for financial analysis and preparing annual budgets. As the list of responsibilities a property manager is expected to perform continues to grow and change, the definition of what a property manager will as well.

The rest of this article can be found on Michael Fourte’s website

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OWNING VS. RENTING: THE PROS AND CONS

Michael-Fourte-Home-Owning

One of the largest decisions that most people make revolves around real estate. Should you rent an apartment or should you purchase a home? It may sound incredibly simple at first glance, but once you begin to dissect and analyze the question, it becomes very clear as to just how complicated the situation truly is.

As an experienced real estate professional with years of experience, I figured that I could offer some assistance to those looking for a new home. Here are some of the biggest differences between renting and owning.

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