Real estate companies need a lot of support to help them do their work. Professional property consultants help with a range of services that can provide from research, analysis and to advice on any number of real estate related issues.
They also provide these services to banks, mortgage lenders, materials producers, builders and property investors and construction companies. They work with all these different types of clients by building relationships, assessing their needs and helping them to achieve success in their property management goals.
1. Research & Analysis
That work often includes specialized research and analysis and a deep understanding of the spectrum of real estate and property management issues from municipal zoning and taxation issues to construction planning and management. They utilize a variety of tools from property management software to data analytics and technology-enabled expert services to help property owners, managers and prospective buyers minimize their risk and maximize their investment in real property.
There are three top services that property consultants provide to their client base. They include advice and guidance on property tax issues, valuation services, and construction and project management.
2. Advice about property tax issues
Property managers and real estate developers want to ensure that the tax they pay at the municipal level is fair and that they are not over-taxed. Property consultants use their knowledge of taxes and the appraisal process to help their clients do exactly that. They work with their customers to ensure that all of the current regulations, market trends and data is at hand to advice them on their best possible taxation approaches.
They identify all of the issues affecting the value of a property and ensure that all tax exemptions are considered and applied. They also work with the municipal and regional taxation offices to identify and take advantage of any available tax reductions. After a property has been assessed their work is not done and they continue to work to help their clients challenge any errors and limit their economic impact.
3. Valuation and Advisory Services
Valuations need to be timely, reliable and accurate. Property and real estate consultants work to ensure that these key elements in every real estate transaction are completed property and even more importantly, on time. They could be required for a variety of reasons including financial reporting purpose, or to meet environmental standards or concerns. Valuations may also be required in the space or property is being used for the general public and needs to be fully accessible and open to all members of the people, including citizens with special needs.
This might include helping the client to prepare all of the necessary documentation and to assist with presentations to committee hearings, and court documents if there is a need to appeal a valuation or an assessment decision. Valuation services might also include asset management and the consideration of trends and legislation that might impact property values, classifications and any possible exemptions.
4. Cost Consulting and Project Management
There is a great need for services and support when planning and executing a construction project within a commercial environment. Time and delays of time in a project cost money, inconvenience and the possible loss of goodwill and future business. Property consultants can help by providing cost management consulting expertise, capital cost analysis and planning, and real estate and infrastructure market information.
They work with the managers or operators to accurately predict costs and ensure that the project stays on time and within budget. They can also work with their clients to develop a life-cycle plan for the property that includes minor and major renovations and regular maintenance. This ensures that the building’s costs are known and well-managed in advance of problems developing.