Increasing Value of Commercial Real Estate Properties using effective Asset Management Strategies at Western Cyprus.
Today, the effective asset management is essential for the effective organizational performance and successful business development. Commercial real estate companies and individuals should manage their assets to maintain their competitive advantage and to keep progressing. For example, if companies neglect their assets, there is a high risk of the devaluation of their assets. The decrease of their assets may lead to the overall decrease of their market values. As a result, companies face a risk of the consistent deterioration of their marketing position, if they fail to manage their assets properly and effectively. Therefore, should pay a particular attention to the asset management. In actuality, they may use different approaches to their asset management and implement those methods, which they consider to be the most effective and profitable. In this regard, they should take into consideration their specificities, life cycle of their properties, lease strategies, rent control, rent reviews, outsourcing, marketing strategies and many other factors that may affect their assets values. Furthermore, they may even elaborate their own approaches to the asset management based their experience to the particular commercial property.