The principle of systemicity is the approach to the object of management as an integral interrelated system of relations and properties. The application of the principle of consistency in real estate management involves systematic decision-making and implementation in all functional areas of management, taking into account the stages of the life cycle of the real estate object.
The principle of complexity of management. Real estate management activity implies systematic decision making aimed at achieving the goals of the owner and their implementation at all stages of the life cycle. A full-fledged process of real estate management can be provided only if the necessary condition of covering the entire life cycle of the object is met.
Principle of separation of ownership and management – the principle of real estate management, in accordance with which in the process of management there is a separation of functions of the owner and manager. The owner retains the functions of adopting strategic decisions and quality control over management.
Principle of purposefulness of management – principle of real estate management according to which the founder of management must determine and fix the goal it pursues and the achievement of which the object serves. The objectives of the founder must have an appropriate quantitative and qualitative expression that allows to assess the degree of their feasibility and the results of the activity to achieve them.
Principle of object-based management is to create a management system that would allow the adoption of management decisions, recording revenues and expenses in the context of each individual object of real estate.
The principle of the most efficient use. According to this principle, the management of real estate object should provide the best and most efficient use of it. The best and most efficient use (BOO) is defined as a reasonable and possible use that best achieves the goals of the owner.
The principle of economic feasibility of management decisions. Management decisions must be made in accordance with clearly defined criteria, on the basis of reliable and comprehensive information about the state of the property, the state of the real estate market, trends in economic phenomena and processes. This principle implies a complete inventory and accounting of real estate objects, the creation of a cadastre of commercial real estate, including a system of technical, economic and financial indicators that adequately reflect the condition and major trends in the use of real estate.
Principle of professionalism of management – the principle of real estate management, which lies in the fact that the managing company (personnel of the management company) must have the necessary amount of knowledge and skills to provide qualified, high quality, meeting modern requirements of professional services.