By Stephen L. Burger,
CPM, CRX, CRM
Property management might be the best kept secret in
commercial real estate. It’s frankly not a portion of the business that garners
a lot of press, as might brokerage or development, where deals measured in the
mega-millions of dollars capture industry headlines. When executed properly,
property management is at its core a discipline dedicated to creating and
managing systems geared for the comfort, safety and productivity of our
residential and business tenants.
But in fact, in that mission, property management shows
itself to be a key driver of real estate value and a major contributor to the
bottom line of the owner/investor. Essentially, professional property managers
(and you will know them by their CPM designation), are charged with enhancing
net operating income and asset value specifically through the tenant experience
within a single property or across a geographically diverse portfolio.
Today’s property manager is an integral part of the investment
C-suite, an asset’s chief financial officer, if you will, working side-by-side
with the asset manager to achieve the CEO’s (the owner/investor’s) goals. We do
this by taking a front-line responsibility for the fiscal, administrative and
operational health of that property or portfolio. This incorporates everything
from tools for tenant selection and retention to all areas of the income/expense
Over the coming weeks, we will use this space to continue to
tell the story of property management today, and the many ways this discipline not
only sustains but even builds asset value. In essence, it is our aim here to
let this best-kept industry secret out, and to underscore how engaging a
property management company that understands and employs best industry
practices directly impacts the owner/investor’s bottom line.
And we look forward to your input as we launch a total
revamping of our website and incorporate some exciting new features, such as
this weekly blog. In addition, we hope to keep you current on the latest news,
focused not only on growth here at EBMC but also industry-wide. On our website
as well as in our daily business practice, we hope to make this an interactive
experience. We invite you to comment and to share your experiences on any and
all items you see posted here.
And as always, we welcome your emails.
BURGER MANAGEMENT CORPORATION
As president and COO
of Eugene Burger Management Corp., Steve
Burger is directly responsible for the overall quality, depth and
consistency of management services provided in all 15 regions in the EBMC