Thursday, October 27, 2011

Sally on "The Tonight Show"

I will be a guest on the Tonight Show next Friday, November 4, 2012 at 11:30am.  I have been invited on as an expert on "Secrets to Successful Contracts and Tendering".

Well, OK, it's not the real Tonight Show, but it should be an entertaining facsimile complete with commercials, "the man on the street" and David Letterman's Top Ten (what's that? David Letterman didn't get the tonight show? of course he did - you are remembering wrong!).

Join us at this entertaining session at the ACMO CCI Conference at the Congress Centre on Dixon Road!  Have some fun and learn about contracts while you're at it.

Tuesday, October 11, 2011

The Condo Board is the Asset Manager

In Commercial Real Estate, properties are overseen by both a Property Manager and an Asset Manager.  The Property Manager oversees the day-to-day operation of the facility.  The Asset Manager oversees the property at the "investment" level.  The Asset Manager is responsible for maximizing the value of the property by setting and implementing a strategic vision for the property.

In Condominiums, there is clearly a Property Manager, but who is the Asset Manager?

It's the Board of Directors.  Boards need to understand this role and make sure that they take time away from the day-to-day oversight of the Property Management function to also focus attention on their Asset Management role.  This means that investments in capital repairs should be viewed through a filter of the role of the investment in the long-term vision for the property. 

Forgetting the Asset Management role invariably leads to short-term decisions and the gradual decline of the quality of a property.