A lack of clarity in legal, business or technical documentation and data can quickly be detrimental to the successful development of a real estate portfolio. As a result, reliable planning and strategically appropriate decisions often become difficult. HOCHTIEF Property Management now offers Property Management Audits as a new product to help owners of real estate portfolios identify or recognize additional earnings potentials and operational or vacancy risks.
The new service has already proven successful in projects involving large real estate holdings of banks and insurance companies. In these instances it helped with such aspects as rental income, which could be raised by a significant margin. At the same time, data errors were corrected, operational risks reduced, and as a result, the value of the property was drastically increased. The use of the new tool is not tied to an existing property management contract with HOCHTIEF. A Property Management Audit works as follows: Client and HOCHTIEF Property Management specify the focal points of the audit. The three modules - business, legal and technical audit - can be combined as required. An initial spot check analysis quickly reveals material fields of action. Based on these findings, the level of detail is subsequently increased: depending on the focal points, rental contracts, ancillary cost statements, maintenance logs and many other data sources are scrutinized in as much detail as the property itself. Using best-practice models, HOCHTIEF Property Management then specifies the analyzed earnings and risk potentials, but on request also helps improve the actual results.