Along with the development of society, the emergence of asset management to meet the essential Customers’ needs in the real estate field to optimize self-benefits.
Put in simple terms, asset management services are the management unit that will operate real estate to create profit values. This unit is responsible for many different aspects from valuation, communication, finding tenants to procedures, legal and maintenance, etc.
Over the years, the service management industry has witnessed expected growth. In 2019, assets under management (AuM) increases by 15 percent, up to 89 trillion. North America, the world’s top major asset management region, posted the strongest growth at 19 percent thanks to a combination of strong consumer spending and historically low unemployment. In China, the second-largest market after the US, AuM expanded an estimated 10 percent in 2019, largely driven by a strong retail investor segment.
Real estate experts assume that real estate projects managed by companies with big brands around the world have more advantages in business and M&A activities. The selection of management brands with reputation and prestige in the market is quite important because it directly affects the sales effectiveness and potential value of the project.
Professional asset management services also help property owners save time and money by limiting issues that lead to legal costs and damage related to repairs and maintenance. Well-maintained properties with competitive, well-informed rents always attract quality and trustworthy tenants.
Most homeowners have a day job, in addition to owning rental property, so it is difficult for them to fully care for their property. Therefore, the property management service is like a powerful assistant to help each owner reap the benefits of owning rental property without having to deal with a series of related problems.
Property management services also solve the problem of real estate investors, and this process is a boon for those who provide the best service. According to a report from IBIS World, the asset management market is worth more than $88 billion, an increase of more than $10 billion compared to 2019, which proves that the presence of wealth management services in real estate is extremely necessary for investors in a big, competitive game.
