THE PROPERTY MANAGER

The Property Manager is a third party hired to handle the daily operations of real estate.

The Property Manager operates within the framework of a contract and acts in the name and for the account of owners of legal structures, or their representatives.
The Property Manager carries out its mission under the Hoguet law whose provisions govern the profession and guarantees funds held on behalf of the owners.

Duties include taking care of the rental management and the property management tasks.
Performs, if necessary, Free Trade Union Association management missions (ASL) or Urban Land Free Association (AFUL) for the management of shared facilities, and group or Restaurant Inter-Enterprise association (RIE – Staff cafeteria) management.

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The responsibilities of a Property Manager will vary, the missions performed can include rental management, administrative, accounting, financial, technical, regulatory, environmental, sustainable development, and documentary missions.
Solidifies relationships and act as a liaison between landlords, tenants, contractors, service providers and public administration.

The Property Manager ensures compliance with the terms of the lease agreement and associated guarantees of the entrusted property on behalf of the owner including :

• management of financial flows,

• the proper functioning of the building by maintaining and improving the quality of technical management and occupancy,

• optimization of the operating organization and budgetary control of expenses,

• information on the regulations and changes.

The Property Manager assists the owner in the implementation of the strategic vision by contributing to the enhancement of the property.
Assists in related tasks including project management or delegated project management when work is performed on-site, as well as acquisitions or divestitures, audits or advice.

Real estate, assets

Aproma brings together players from commercial real estate management.

The commercial real estate market comprises the purchase, sale, lease and management of corporate real estate such as office space, shopping centers, business premises, warehouses (logistics), hotels, buildings in the health sector and theme parks.

These assets are fully owned or owned by owners of companies having the status of institutional and private investors.

Commercial real estate also includes the management of additional properties within the perimeter of the property assets: AFUL, ASL, RIE.

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The industry is divided by type of asset:

  • Office building sector: includes both Haussmann-style buildings and recent buildings with international building code. This sector includes « Labor Code » buildings and IGH type facilities (tall buildings).
  • Commercial building sector: includes both independent businesses located in office buildings (stores) as well as shopping malls, shopping centers or retail park located on the outskirts of towns.
  •  Business premises sector: These are premises for production activities or small distribution. They allow a company to consolidate all its activities in one place. They can be independent, located in office buildings or organized in the form of parks.
  •   Logistics sector: Includes warehouses and industrial use in warehouses.
  •   Other sectors: Hospitality, health, social-care sector and theme parks are very specific types where the operator plays an important role.

Real Estate Industry/cycles/players

In the real estate industry, there are actors who play an important role at each stage of the property cycle.

Those coming from business management and value of real estate assets are:

Fund Manager: Responsible for setting up the strategy of a fund, for collecting the shares of institutional investors interested in this strategy, for managing the legal and tax structuring of the organization which will carry the assets and then manage the implementation and updating.

Portfolio Manager: Management of real estate portfolios in several countries may require a Portfolio Manager in charge of the portfolio in its entirety
Asset Manager: Manages real estate assets on behalf of one or more institutional investors in order to maximize their value. Manages the strategy of each asset by implementing the business plan. Reports to the Fund Manager and relies on the Property Manager for the operational management.

Property Manager: The Property Manager applies the policy defined by the Asset Manager and manages real estate assets daily for the benefit of its occupants and Principal.

Tenant: The Tenant is the company that rents and occupies the building. It is the essential element that gives meaning to the building by its occupation and its value by the rent it pays to the owner.
Facility Manager: The Facility Managers are the technical and service providers to the occupant, they are in charge of the services contributing to the operation and maintenance of the buildings, and the comfort of the occupants.

Other actors in the real estate cycle: Financial institutions, planners, developers, notaries, lawyers, consultants, surveyors, architects, marketers, real estate experts, etc … and all technical partners contributing to the skills of the real estate industry chain.

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