Showing posts from March, 2019

The Biggest Challenge in Property Management

Managing a real estate owned (REO) property is one of the biggest challenges in property management. An REO property is owned by a lender such as a bank or government agency, usually after an unpaid mortgage and then an unsuccessful sale at a foreclosure auction. 

Numerous resultant problems require a specialized approach to property management. This demands an experienced manager and staff who have the ability to:
Quickly assemble resources and data.Interpret and analyze data.Articulate recommendation options and their corresponding likely outcomes.Assemble an experienced team to execute on the owner-approved asset management plan and strategy.In some cases, the building will be incomplete, and there may be complications in moving forward with development. 
If tenants are unhappy, potential lessees may be discouraged from moving into the building due to bad press. A critical issue in dealing with REO buildings is that they must often compete among other successful properties that offer …

How Can You Enhance Your Facilities Knowledge?

In a facilities management (FM) industry that is constantly changing, how can you keep up?

Facility management once related merely to the physical maintenance and operation of buildings. As these activities became more complex and expensive, FMs gained additional skills to keep up with the growing demand - business management, architecture, engineering, real estate, construction, and human resources.

Here are three ways for an FM to enhance facilities knowledge in such a rapidly growing industry:
1. Education and Training
2. Professional Development
3. Industry Conferences and Tradeshows
Education and TrainingThe commercial real estate and facilities management industries place a high value on achieving a professional credential. Credentials are ideal for enhancing your career knowledge and skill sets.
BOMI CredentialsFacilities Management Certificate (FMC) is ideal for those who manage the ongoing operation and maintenance of facilities. Upon completion of this 3-course program, you will hav…