Getting the Basics Right

During the COVID affected period and beyond, K2 Private Property has seen strong growth in assets under management with existing clients increasing their property holdings and new clients coming on board.

K2 Private Property now has assets under management exceeding $750 million.

Our syndicate and fund management clients have seen strong inflows of funds for property investment and have purchased industrial, office and medical facilities.

Our high-net-worth clients have required assistance with asset management of existing holdings, particularly regarding leasing, repositioning strategies, and regulatory compliance.

These client groups are turning to us for different reasons. High net worth clients are taking advantage of our capabilities in facilities management, WHS compliance and asset management.

Syndicate and fund management clients already have dedicated in-house asset managers who are familiar with the requirements of facilities management and WHS compliance and usually engage additional consultants to assist.

Interestingly, their focus has been on ‘getting the basics right’.

As property managers, we spend much of our time compiling financial information and updating accruals, forecasts, reports and providing variance analysis.

As facilities managers we are increasingly transitioning to risk managers and providing hazmat reports, following WHS procedures and updating risk registers.

When the workload increases, there is a tendency to lose sight of the basics.

  • Is the tenancy schedule up to date?
  • Are tenant arrears under control?
  • Are the Bank Guarantees up to date and do we know where they are?
  • Do facilities managers physically inspect all properties on a regular basis?

The feedback from our most sophisticated clients is that what they appreciate most is our ability to get the basics right. Surprisingly, it often sets us apart from the competition.

Jon Roase

Head of Property Management