People often ask, “What is asset/portfolio management?”. The answer is quite complicated, but to try to simplify, asset/portfolio management is the unified management of a group of properties which are held in one ownership.
Asset/portfolio management, as it exists today, is a fundamental part of any organisation with assets under management. The goal of an asset manager is to achieve the maximum benefit for the owners and, therefore, any decisions that are made in respect of any issues, are made on this basis. These decisions influence the portfolio rather than any individual property.
Asset/portfolio managers deal with more fundamental and strategic issues related to a property. They assist in all aspects of the administrative, financial, renovation/upgrade, marketing, and operations of the assigned portfolio.
The roles available in asset management are many and varied, but how involved you are with the property will depend on the type of company you are working for. Ultimately, the goal is to streamline operations and reposition a property to reduce costs and increase income.