What Is Real Estate Asset Management?

Real estate asset management is the strategic oversight and management of property investments. It involves a range of activities designed to optimize the performance of real estate assets, increase property value, and ultimately enhance ROI. Effective real estate asset management encompasses various elements, and its impact can be transformative for property owners.

At Julius Webb, Inc., we have honed our real estate asset management expertise over nearly a century, helping property owners achieve their investment goals.

Below are a few invaluable factors that comprise a successful real estate asset management plan that will help you rake in impressive ROI numbers.

Strategic Property Positioning

Effective real estate asset management begins with a strategic assessment of your property’s positioning in the market. This involves analyzing the local real estate landscape, identifying target demographics, and developing an understanding of current and future market trends. By positioning your property to meet the demands of your target market, you can enhance its appeal and rental potential, leading to increased income and ROI.

Comprehensive Financial Analysis

Conducting a comprehensive financial analysis of your property is a must if you want to know where to start when putting together your real estate asset management plan. This involves assessing income streams, operating expenses, and potential cost-saving opportunities. Completing a detailed financial analysis allows you to identify areas for improvement so you can implement targeted strategies that can boost your property’s profitability.

Proactive Maintenance and Upkeep

Maintaining the condition and functionality of your property is essential for preserving its value and attracting quality tenants–especially nowadays. The simple fact of the matter is that tenants today expect more from landlords and property owners. Proactive maintenance not only keeps tenants happy, but saves you from running into bigger and more expensive maintenance issues down the road. Properties that are well cared for command higher rental rates and experience lower vacancy rates, which directly contributes to increased ROI.

Tenant Relationship Management

Effective real estate asset management also extends to tenant relationship management. Building positive tenant relationships can result in longer lease terms, reduced turnover costs, and enhanced property reputation. One easy, actionable way to do this is to utilize technology like an online portal to collect rent, send out community notifications, and receive maintenance requests. This helps tenants feel informed with everything that’s going on in their community—from rent due dates to the status of their most recent maintenance requests.

Remember: accessible and clear communication leads to faster problem solving and happier tenants. Thus, devoting sufficient energy towards strengthening the owner and tenant relationship will translate to a more stable cash flow and, ultimately, higher ROI.

Investment Diversification

Diversifying your real estate investment portfolio is a strategic move that not only enhances the potential for maximizing ROI but also serves as a safeguard against market volatility. While it’s natural to focus on a single property or location, putting all your eggs in one basket can expose you to higher risks. Real estate asset managers play a crucial role in helping you diversify your investments effectively. By broadening your horizons in terms of property types, you can spread risk and reduce your vulnerability to downturns in any single sector.

Data-Driven Decision Making

In the modern landscape of real estate asset management, data is a valuable currency. Property managers who leverage data and analytics to drive their decisions have a better chance of their assets performing better. Why? Well, data analytics allow for precise pricing, which allows you to optimize rental rates and maximize income without deterring potential tenants.

It also guides strategic improvements based on tenant feedback and market analysis, enhancing property value while maintaining cost efficiency. Plus, data-driven insights can be incredibly helpful with creating highly-targeted marketing campaigns, attracting the right tenants, adapting swiftly to changing market dynamics, and ensuring your investments remain competitive and resilient.

Expert Atlanta Real Estate Asset Management Is a Phone Call Away

Real estate asset management is the key to unlocking the full potential of your property investment. At Julius Webb, Inc., we understand that every property is unique, and we tailor our real estate asset management services to suit your specific needs and goals. By partnering with experienced professionals, you can pave the way for a prosperous and rewarding real estate investment journey. With four locations in the greater Atlanta area, Julius Webb, Inc. is perfectly positioned to help maximize your ROI.

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Eric started Laker Logistics, a franchise of Unishippers, in June 2022 and moved into his office space at Armour Junction in September 2022. According to Eric, the space fits six people comfortably, with one large room and two additional offices. 

“We chose this office community because of its green space, the proximity to the Atlanta BeltLine, which is right outside my window, the closeness to the Lindbergh MARTA station, and the shared conference and break rooms,” said Eric. “There are many good places to eat nearby, too.”

According to Eric, he and his team also appreciate the attention to detail and responsiveness from Julius Webb, Inc.. 

Laker Logistics manages shipping and other services for small and medium-sized businesses. “We are a sales organization – a third party representative, on behalf of UPS,” said Eric. “We have salespeople in the field and in-house.” 

Julius Webb, Inc. is happy to have Laker Logistics call Armour Junction home. For more information on Laker Logistics, visit them on LinkedIn.

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Aside from having a responsive and trusted maintenance team at your disposal for issues that occur in real-time, it’s also important to work with them to schedule routine maintenance tasks for proactive property upkeep. While this can be a tedious step, it’s an essential one! Taking the time to do this will help your property avoid larger, more costly repairs down the road.  

Maintenance Tasks for a Commercial Property

1. Roof Inspections and Maintenance: Regular roof inspections are imperative for safeguarding your property from the elements. Atlanta’s varying weather conditions can take a toll on roofs over time! By scheduling routine checks and promptly addressing issues, you can prevent leaks and ensure the structural integrity of your buildings.
2. Landscaping and Exterior Upkeep: Curb appeal plays a massive role in attracting tenants and maintaining property value. Well-maintained landscaping enhances the overall aesthetic, creating a welcoming environment. Regular lawn care, tree trimming, and exterior cleaning are essential tasks that shouldn’t be neglected. In addition, chipping paint is something that happens to every property—make sure to schedule periodic exterior painting touch-ups to keep your property looking fresh. 
3. HVAC System Maintenance:  Ensuring regular inspections and timely filter changes for your property’s HVAC system will help optimize your business’s energy efficiency and indoor air quality. Regular maintenance on your HVAC system can also help reduce the risk of breakdowns by as much as 95%.
4. Pest Control and Prevention: One thing that will scare potential tenants away (as well as infringe upon current tenant experiences) is out-of-control pest problems. Regular pest inspections and preventive measures are essential to keeping infestations at bay. By identifying and addressing potential pest entry points, you can maintain a clean and comfortable environment for your staff and tenants to enjoy. 
5. Parking Lot Maintenance: If your property includes a parking lot, it’s crucial to keep it in good condition. Regular maintenance, including pothole repairs, striping, and proper signage, ensures a safe and organized parking area for tenants and visitors. 
6. Common Area Maintenance: In multi-unit properties, common areas are shared spaces that leave a lasting impression while attracting new residents. Regular cleaning, maintaining common amenities like elevators and stairwells, and ensuring proper lighting contribute to tenant satisfaction and a positive living experience.

Experienced Commercial Asset Management Professionals

Balancing these maintenance tasks (among many others!) is pivotal for the success of your Atlanta commercial asset management efforts. Proactively addressing these maintenance tasks enhances both property value and appeal. It will foster a comfortable and well-maintained environment for your tenants.

As seasoned Atlanta property management professionals, we know that every property has unique needs. Contact us today, and we will craft a commercial asset management plan to address those idiosyncrasies accordingly. 

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The company started in February 2019 and had an 800 SF building in an RV storage facility in Jasper for a couple of years. Keith Meisner, owner and CEO, had a need in his business to provide receiving services and needed a warehouse with a dock. That brought them to an 800 SF section of the same building where they now have taken over the entire space from the previous occupant.  

“This was our perfect opportunity to grow rapidly,” said Keith. “It’s an exciting time at Drive Movers and we plan to fill up the additional space quickly.”

Keith and his wife, Jacqueline, as well as a few full-time employees and contractors, are enjoying their space at Curie Drive. The company offers all-inclusive services from receiving and inspecting to storage, furniture delivery and assembling, and art and drapery installation. Its warehouse offers a secure, video/alarm monitored and climate-controlled environment.  

“We work with everyone to do whatever is needed, from moving a single piece of furniture to an entire commercial building, and everything in-between,” says Keith.

The business also has a charitable side. “We work with social organizations to provide furniture to families in various stages of need.  For example, if suddenly a child is placed in foster care and the foster parents need another bed, we can look in the network of furniture database to see where there is a bed that we could deliver at no cost,” explained Keith. “Many of our customers have furniture tucked away that they don’t use or want and are willing to donate, they hang onto it and when it’s needed, we pick it up and deliver it to a family nearby.”

The new space is perfect for the company to fulfill its goal of growing a network all over the state, with Alpharetta’s location as its base. And according to Keith, they knew from the beginning that Julius Webb, Inc.’s 225 Curie Drive was a wonderful place to be.

“Tom (Webb) and Allen (Morrow) of Julius Webb, Inc. are great to work with and I could tell from day one that they are really good people,” commented Keith. “The service has been top notch, our space is at a reasonable rate, and we are able to expand our services quickly. We are very happy with our space.”

Prior to starting Drive Movers, Keith was working in the medical shipping business and then cell tower construction, where a former boss talked to him about being an entrepreneur. And he hasn’t looked back since!  

The team at Julius Webb, Inc. is happy that Drive Movers parked its headquarters at 225 Curie Drive. To learn more about Driver Movers, please visit the website at www.DriveMovers.com.

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1. Utilize Modern Technology to Streamline Operations

Commercial property management technology is the best way to simplify workflow, keep your team organized, and boost operational efficiency. An online tenant portal is one example of project management technology that we’ve found to be particularly successful. This portal makes rent collection faster and easier. In addition, it helps your team keep track of payments and ensures that all transactions are secure. 

2. Focus on Communication 

Tenants value Atlanta commercial real estate property managers who know how to communicate—whether it’s a community announcement or an update regarding a maintenance request. Communication is key to building trust and fostering a positive professional relationship between tenants and property managers. Stronger communication involves creating reliable, accessible communication channels. These include monthly community newsletters and/or online portals for rent collection, maintenance requests, and community announcements. 

Taking the time to forge reliable communication channels with your tenants may be time consuming. Still, it does wonders to strengthen tenant retention rates. According to Apartments.com, turnover for one unit typically costs between $1,000 – $5,000, and those numbers go up if your unit stays vacant for an extended amount of time. 

3. Prioritize Maintenance and Upkeep

Speaking of maintenance, it should always be top-of-mind. In our experience as experts of Atlanta commercial real estate, it’s a must to have a dependable and skilled on-site team and/or a network of trusted local contractors to rely on. That way, you will be able to not only quickly respond to and take care of maintenance requests, but you’ll also be able to conduct proactive maintenance measures to mitigate liabilities. Moreover, we strongly recommend developing a regular inspection and maintenance schedule to avoid costly repairs in the future. 

One key thing to remember with Atlanta property management is to ensure that the system you utilize to receive and prioritize maintenance requests from tenants is reliable and accessible. The best system we’ve found to achieve this is an online portal. Maintenance requests that are addressed efficiently and effectively do wonders to up tenant satisfaction and keep the property in good working order. 

When it comes to upkeep, make sure to speak with your commercial property management team to devise a budget for all maintenance requests as well as long-term property improvements. Investing in these improvements will increase tenant satisfaction, reduce tenant turnover, and enhance property value. 

Atlanta’s Experts in Commercial Property Management 

Holistic asset management from an experienced team is vital for the success of multi-family properties. From utilizing project management technology to bolstering communication channels and prioritizing maintenance and upkeep, there are many factors to consider.  By partnering with our Atlanta commercial property management team at Julius Webb, Inc. Real Estate Services, property owners can enhance profitability, attract (and retain!) tenants, and ensure long-term success in their real estate investment.  

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Recognize Decline of Property

The first step to determining if your asset is in danger of being an REO property is to take an assessment of the property and your tenant history. The signs of decline are often present long before the property falls into disrepair. Two of the most glaring signals that your property is heading for trouble are long periods of vacancy and tenants becoming less credit-worthy.

If the property has been vacant for a while, try to consider possible reasons that tenants do not want to occupy the property. Is it in a bad location? Does the property need repairs? Is your rent too high for the area? Addressing these issues can help you understand the reasons behind vacancies.

Assess the State of Your Property

Once you have examined current and previous tenants, take a look at the property itself. If you have someone else managing the property, it may have been a while since you’ve been there in person. Make sure to examine the exterior of the building and the surrounding area. Pay special attention to unsafe conditions or repairs that need to be made. This is your prospective tenant’s first impression, and you need to make it appealing. Keep an eye out for:

• Broken stairways and handrails
• Cracked, uneven pavement
• Tattered shingles and roofing
• Damaged or missing gutters
• Disheveled landscaping

Once you have examined the property and its grounds, turn your attention to the interior. If the space inside has fallen into disrepair, bringing it back to an inhabitable state should be your first priority. Aside from merely looking around for damage, you should use your other senses as well. Smell for foul odors—these can be indicators of mold, mildew, and animal or insect infestation. Listen to the spaces behind walls, underneath floorboards, and above the ceiling. If you hear dripping water or scurrying footsteps, you will need to promptly address the underlying issues.

Find an REO Specialist in Atlanta

After recognizing the decline and assessing the state of your property, it will be time to call an REO specialist. This is a dedicated team of professionals who can help right the ship. You should look for a company with a history of successfully managing distressed commercial properties and bringing them back to profitability.

At Julius Webb, Inc. Real Estate Services, we are REO specialists who have been providing support to owners and investors in the Atlanta area for over 25 years. Our portfolio includes numerous property rehabilitation projects where we have helped investors recover losses from troubled investments. If your asset is in danger of being foreclosed or becoming an REO property, contact us today to see how we can help make you whole.

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One Point of Contact

Dealing with multiple contractors can be a tedious and time consuming task for property owners. With Julius Webb, Inc.’s total asset management services, you’ll benefit from having a single point of contact. Our dedicated team will handle all aspects of property management, from addressing maintenance issues promptly to managing rent collection and maintaining accurate bookkeeping records. By entrusting your property to our team and relying on our extensive network of trusted contacts, you can rest assured that any problem at hand will be efficiently and effectively addressed.

Improved Decision Making and Cost Control

Making informed decisions and exercising effective cost control are crucial for maximizing the value of your property. Total asset management empowers property owners with the information they need to make better, more cost-effective decisions. Julius Webb, Inc. provides comprehensive reports and critical details regarding property condition, occupancy rates, lease terms, maintenance history, and more. Armed with this valuable data, property owners can easily identify areas that require attention and allocate resources accordingly.

Revenue Optimization

Maximizing revenue is, of course, a top priority for property owners. Total asset management teams like ours offer advanced technology, insider information, and tailored strategies. This approach helps streamline rent collection processes, simplify accounting needs, provide transparent reporting, and more. All of these steps will do wonders to lower overhead costs and maximize your bottom line.  

Atlanta’s Premier Property Management Services

Julius Webb, Inc. has been at the forefront of asset management here in Atlanta for over 80 years. Our extensive experience combined with our in-depth industry knowledge has helped us become a trusted partner for property owners looking to manage their assets effectively. Over the years, we have honed our total asset management approach to deliver exceptional, comprehensive results for each and every one of our clients.

In conclusion, If you’re experiencing underperformance with your property, frustration with multiple contractors, or lack of proper property maintenance, Julius Webb, Inc.’s total asset management services is the solution you need. With one point of contact, improved decision making and cost control, and revenue optimization strategies, our experienced team will ensure the optimal performance of your property. Trust Julius Webb, Inc.’s legacy of expertise and let us help you unlock the full potential of your real estate assets.

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Identifying the Cycle of Decline

When properties begin losing profitability, a common tactic to stop bleeding cash is to cut costs. Although this will decrease the amount of money that you are spending, the decision can be detrimental to real estate operations. The lack of improvements can cause the property value to enter into an irreversible cycle of decline. If you have been managing the property for a while, you may have difficulty noticing telltale signs that your property is in danger. Here are a few key things that you should look out for:

• Unmaintained or dangerous walkways/stairways
• High tenant turnover rate
• New tenants are less creditworthy
• Lapse of landscaping care and basic property maintenance
• Uneven parking lot with cracks and potholes
• Leaky roof and/or interior water damage

Break the Cycle and Avoid Foreclosure

Early identification is key to revitalizing your commercial assets and avoiding foreclosure. The sooner that you realize that your property is in trouble, the sooner you can begin righting the ship. Basic property maintenance and landscaping are immediate ways that you can improve your property’s curb appeal and improve foot traffic. For properties that are already deep into the cycle of decline, more extensive measures may be necessary to save the investment.

You will need to identify the root cause of the property’s trouble and form a plan to get things back on track. Repositioning the property and adapting to the current market will involve deep analysis and strategy, but re-evaluating the situation will be instrumental in preventing asset decline.

Following the 2008 recession, a local lender took control of a distressed office park in Conyers. The lender enlisted the help of Julius Webb, Inc. to help bring the property back to profitability. After running an initial assessment for demand potential, we recognized an opportunity to market the office park as a modern business environment. Our work allowed the lender to successfully sell their holdings and exit the property.

Avoid Foreclosure with Help from an Atlanta Property Management Company

If your property is quickly going under, it’s not too late to rescue it. But you will need to act fast. At Julius Webb, Inc., we have a history of success with revitalizing distressed assets. Our local connections and extensive network of top professionals give us all of the tools required to successfully manage distressed investment properties in Atlanta and the surrounding metropolitan area.

Each of our specialists is involved and attentive. They will personalize a strategy for your situation while taking accountability for its successful execution. We have an inventive nature, and a pioneering ability to adapt that has kept our company running for over 90 years. Let us use our skills and experience to help bring your asset out of the cycle of decline, and back into profitability.

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