Asset management is more of a process of overseeing property performance & planning the timing of capital upgrades, with the goal of enhancing value and maximizing return to the owner (cashflow etc). Asset management does not consist of a single activity that takes place at a discrete moment in time. It takes place over the life cycle of a property. It is a process. Often asset management is focused on a portfolio of properties rather than a single property.

Property management is focused more on the day to day operational aspects of an individual property such as physical maintenance, repairs and renovations, rent collection, payment of expenses, etc.

Here is a summary of some of the duties that fall under each moving forward.

What We Don't Do - Operational Property Management Duties

• Collect Rent
• Pay Bills
• Lease and Turn Over Units

What We Do - Asset Management Duties

• Hire & manage all property managers
• Interface with your CPA and assist with filing of your returns
• Manage partnership/investor communication
• Provide partner/investor level portal with reporting/metrics & more
• Facilitate tax advantage strategies such as cost segregation studies.
• Entity management and evaluation (LLCs, TICs)
• Manage and monitor quality of properties through upgrades or renovations
• Monthly or quarterly property visits
• Manage brokerage/sale/onboarding and acquisition of assets
• Manage reserves and future expenses
• Establish and monitor property budgets
• Assist with debt management, refinancing etc
• Project cash flow, manage draws and cash
• Prepare monthly reporting packages with narratives
• Track equity, ROI and debt reduction
• Portfolio reporting and allocation
• Assert equity growth
• Assist with acquisition/sale and portfolio optimization
• Provide clients with additional investment opportunities as available