The role of Property Management is as complex and diverse as the property being managed. A split customer base — owner vs. tenant — with often contrary interests require a high level of diplomacy and understanding of their respective situations. Covid has held a magnifying glass to this situation. Amongst the ‘hard skills’ assessed in a tender process, these ‘soft skills’ have to be taken into consideration.
The first step in the preparation of a tender process must be the analysis of where the Property Management provider fits into the existing organisation and which contributions to the processes within the organisation are required. Ideally this has already been reviewed before the start of the procurement process. See also → Property Management Concept.
The positioning of the Property Management determines the specifications for the service which will be integrated into the service concept design. Besides drawing on our own experience we apply the recently established standard specifications for Property Management contracts:
BAMBI – Circle of Real Estate. The BAMBI Circle is an association of 27 investment companies and property management companies that aims to develop joint initiatives to promote the continuous professionalization of the German real estate industry. Essentially, the alliance focuses on the creation of market transparency, benchmarks, best practice strategies and closer cooperation between market participants. The Circle is sustained by the commitment of its managing directors, the management board members and the executives of the constituent companies.
Based on market information from rankings and reviews, and our own experience with Property Management Service providers we will propose a "Longlist" to our client. The client will in most instances add their own candidates. We then kick off the process.
Throughout the tender process, we report and co-ordinate with the client's designated managers and purchase departments.