| dc.description.abstract | Real estate by definition is used to refer to “things that are not movable such as land and
improvements permanently attached to the land, and ownership rights associated with the real
estate (Fisher, 2011). Real estate includes buildings, sidewalks, immovables, and fixtures among
others. These real estate assets are subject to depreciation with the exception of land and various
risks are associated with these properties. Hence, it is important for such properties to be well
managed for optimized benefits throughout their economic life. This can be achieved by
employing the management triad: Property Management, Asset Management and Portfolio
Management (Mike Miles, 2007).
Property management can be defined as a control or monitoring activity over property interests
while considering the owner’s ascertained objectives. (Yakubu, 2015) Asset management, on the
other hand, is concerned with a group of properties while portfolio management focuses on
managing multiple properties at the strategic and dispositional level (Mike Miles, 2007). The
management of properties has been established as a healthy way of increasing the value and
benefits of real estate. Thus, there is the need for all property owners to have a functional property
management practice in order to secure and prolong their interest and benefits and tenant safety
(Ameyaw, 2014) | en_US |
