Real Estate Investor Magazine South Africa Dec/Jan 2016/17 | Página 36

PROPERTY MANAGEMENT 3 Significant Ways to re-think Property Management for 2020 Technology a game changer BY PRITESH RUTHUN T he role of the property manager no longer relates to simply administrating your clients’ investments – it’s about offering insights that deliver the best return on investment. South Africa’s commercial real estate sector is evolving because of an increase in digital technologies available to better manage your properties. However, simply investing in technology in your commercial property management business isn’t enough to guarantee success. According to PwC, the changing real estate landscape will have several implications for real estate managers in the fast-approaching future. In its report: Drivers of change for the Real Estate Industry, PwC’s experts say that high energy prices, climate change and government regulation will impact the role that property managers play in ensuring success for their clients. The report also notes that the role of property managers will include more than just administrative support; as investors TAKE NOTE According to PwC’s report, com mercial real estate investment will require greater global specialisation by property managers, as more risks will emerge. Your ability to assess both local and international risks and provide solutions to mitigate it will enable your customer’s to make fast, sound, financial decisions. 34 DEC/JAN 2017 SA Real Estate Investor will rely on their property managers for added capital expenditure insights. Here are PwC’s three predictions on the roles that property managers will have to play in 2020 and beyond: Role 1. Offer a ‘global thinker’ perspective PwC’s report describes that real estate managers will need to think globally, as global investable real estate availability will expand – particularly in emerging markets. This means that investors are going to be coming to you with investment ideas in particular areas that they’ve read about or been told about. It’s up to you to ensure that you remain abreast of global investment opportunities, rather than remaining focused on localised opportunities. Should there be a shortage of properties in the local market, you don’t want to be in a position where you’re turning potential investors away because you don’t have enough knowledge of a particular market’s property availability. Role 2. Offer underlying economic insights Due to the rapid urbanisation of cities, particularly in South Africa and other emerging markets around the world, there’s going to be opportunities for www.reimag.co.za