A model is a simplified defined approach reflecting a certain point of view.
Depending on the stage of the life cycle of the real estate object, different models are used. Thus, at the design stage, creative management is used, i.e. the management of the creative process, various ideas are developed.
In the process of construction, organizational management is used, the main task of which is the allocation of resources. And investment management, which implies that the investment should return and bring profit.
During reconstruction, a marketing model is used.
Ongoing management during operation is to maintain the property in normal condition and to maximize profits at a minimum cost.
In property management, models such as:
- Retail
- Brokerage
- Servicing
- Facility
- Development .
In real estate management, decisions are classified on the basis of quantity and quality. For example, if the real estate objects are a network, such management is called “retail”, and if the decision is made for a single building, it is implemented “brokerage”. A characteristic feature of brokerage is the creation of so-called “anchors” – elements that attract the attention of the user and enhance cash flow in the operation of buildings. Servicing – trust management of the maintenance and operation of real estate objects is becoming more common recently. An example of this solution is the creation of management companies. Facility management is a decision-making process to improve human comfort in industrial, public and residential buildings. Management decisions related to the development of an object, changing its functional purpose in order to sell it profitably, are called “development”.