Analysis of real estate management of lease service agreements by the public sector of a Latin American metropolis

2019 ◽  
Vol 24 (1) ◽  
pp. 97-122
Author(s):  
Vágner Egídio Velho Júnior ◽  
Isotilia Costa Melo ◽  
Paulo Nocera Alves Junior ◽  
Daisy Aparecida do Nascimento Rebelatto
Keyword(s):  
Real Estate ◽  
Latin American ◽  
Direct Analysis ◽  
Metropolitan Region ◽  
Content Type ◽  
The Real Estate ◽  
The Public ◽  
Estate Management ◽  
Real Estate Management ◽  
The City

Purpose The purpose of this paper is to characterize real estate lease management of the São Paulo City Municipality (PMSP), the largest metropolitan region in Latin America, for the provision of public education, health and social assistance services. Design/methodology/approach In addition, the management was also evaluated by a direct analysis of the obtained data (lease paid, area of the property, agency, zone, region, neighborhood, contract date, etc.) and by statistical regressions. Findings The results showed that the following: real estate properties with the greatest discrepancy of amounts paid (when compared to other amounts paid by the city and the market) are in a pulverized category, called “Others”; PMSP faces difficulties tracking expiration dates, 18.9% of the assets are still in use, though present expired contracts; the category “Education” is the most expressive in expenses; there is a limit to the correlation between the size of the real estate and the lease price paid, and very large real estate do not have proportionally higher leases; the location only directly affects the lease value if it is in the central region of the Metropolis. There is no explicit relationship for leases in other regions. Originality/value This work is groundbreaking for helping to consolidate the literature on real estate management in developing countries. Factors that integrate and influence the management of real estate leases for government agencies in a Latin American metropolitan area have never before been reported in the literature.

scholarly journals Information for decision-making in in-house and outsourced real estate management organisations

Facilities ◽  
2016 ◽  
Vol 34 (13/14) ◽  
pp. 891-905 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Decision Maker ◽  
Commercial Real Estate ◽  
Decision Makers ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Estate Management ◽  
Real Estate Management

Purpose The purpose of this paper is to examine how the real estate owner (decision maker) insures being able to make informed decisions and how they differ according to organisational form. Design/methodology/approach This research is based on an interview study of nineteen firm representatives, six decision makers and thirteen management representatives, all from Swedish commercial real estate sector. Findings The study concludes that, regardless of organisational setting, the industry has a plan regarding handling information. The decision makers have all secured themselves access to the required/desired information. How this is done and what kind of information it is however differ, if the real estate management is in-house or outsourced. Furthermore, a clear focus on financial and contractual information is evident in both organisational settings. Research limitations/implications The research in this paper is limited to Swedish commercial real estate sector. Practical implications The insight the paper provides regarding required information can shed light on how information systems are built and how to improve your information sharing. Originality/value It provides an insight regarding how the industry, depending on organisation setting, prioritises different information and how the decision maker secures access to it.

Towards a more professionalised municipal real estate management

2016 ◽  
Vol 18 (2) ◽  
pp. 132-144 ◽  
Author(s):  
Annette van den Beemt-Tjeerdsma ◽  
Jan Veuger
Keyword(s):  
Real Estate ◽  
Quantitative Research ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Design Collaboration ◽  
Estate Management ◽  
Definition Of ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose The purpose of this study is to see how a more developed discipline – corporate real estate management (CREM) – can add value to a less developed discipline – municipal real estate management (MREM) – to contribute to their professionalisation. Design/methodology/approach Every year since 2008 (except for 2013), municipalities have been asked to complete a questionnaire on how they manage their real estate. With these results, it is possible to perform quantitative analyses on both trends and the current situation. In addition, municipalities’ descriptions of their real estate management have been analysed in a qualitative way. Findings Municipalities are concentrating their real estate tasks in the municipal organisation to link their real estate, their policies and the citizens/tenants. Remarkable is the diversity of the functions and the broad definition of “the real estate employee” (organisational structure). Municipalities make strategic and organisational changes that aim to improve both the real estate portfolio and the municipal organisation (operations). The next years, municipalities will focus in particular on vacancy rates, organisation design, collaboration, ownership and the sustainability of the portfolio (direction). Originality/value Qualitative and quantitative research are combined to compare theory with practice on CREM and MREM. The results contribute to the professionalisation of Dutch municipalities.

Behavior of land markets and restrictions on housing access in Buenos Aires between 2003 and 2013

2016 ◽  
Vol 9 (4) ◽  
pp. 538-553 ◽  
Author(s):  
Luis Baer ◽  
Mark Kauw
Keyword(s):  
Economic Growth ◽  
Real Estate ◽  
Latin American ◽  
Social Inclusion ◽  
Buenos Aires ◽  
Real Estate Development ◽  
Land Markets ◽  
Content Type ◽  
The Real Estate ◽  
The City

Purpose This paper aims to understand the paradoxal development in Buenos Aires, Argentina, where economic growth was not accompanied by improved housing access. The period between the years 2003 and 2013 was characterized by a sustained economic growth with social inclusion and a great expansion of both social and private housing supply in the cities of Argentina. However, this growth was not accompanied by an improvement in the overall access to land and housing. On the contrary, the habitation problems in terms of access to formal, environmentally safe and well-located land with decent facilities have worsened. The City of Buenos Aires is one of the places where this paradox is most manifested. Design/methodology/approach The functioning of the land markets and the real estate development in Buenos Aires will be analyzed in the period 2003-2013 in relation to the macroeconomic context, the monetary effort for the acquisition and rent of a formal dwelling and certain logics of urban development. Findings The rhythm of urban land valorization continuously surpassed that of other commodities and services. The expansion of residential production did not improve the access to formal housing. On the contrary, habitation issues have worsened and conflicts concerning access to land, housing and the city have rapidly increased since 2003. Originality/value In a Latin American context, this paper is the first to establish a conceptual relationship based on empirical data between land price dynamics and real estate development. The paper is also original in its identification of a change in valorization rhythm and pattern of real estate development in the past decade (2003-2013).

scholarly journals Real estate management: incentives for effort

Facilities ◽  
2017 ◽  
Vol 35 (9/10) ◽  
pp. 573-587
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Commercial Real Estate ◽  
Decision Makers ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Work Tasks ◽  
Estate Management ◽  
Real Estate Management

Purpose The aim of this paper is to examine how the real estate owner (decision maker) can ensure that the preferred tasks are prioritised. In particular, the incentives to ensure motivation to perform to accomplish the strategic goals of the decision maker are investigated. Design/methodology/approach This research is based on an interview study of 19 firm representatives, 6 decision makers and 13 management representatives, all from the Swedish commercial real estate sector. Findings The study concludes that the real estate management organisation in the outsourced management setting is governed by the contract, in detail constituting work tasks, and in the in-house management setting, there is freedom with responsibilities instead of regulations. Research limitations/implications The research in this paper is limited to Swedish commercial real estate sector. Practical implications The insight in the paper regarding how decision makers create incentives for the real estate management organisation in the different organisational settings can provide inspiration to design incentives for effort. Originality/value It provides an insight regarding how the industry, depending on organisation setting, prioritise different work tasks and how incentives are created to enable effort.

Transferring outranking models to real estate management

2018 ◽  
Vol 36 (2) ◽  
pp. 135-157 ◽  
Author(s):  
Steffen Metzner
Keyword(s):  
Real Estate ◽  
Portfolio Management ◽  
Decision Quality ◽  
Preference Ranking ◽  
Target System ◽  
Content Type ◽  
The Real Estate ◽  
Estate Management ◽  
The Individual ◽  
Real Estate Management

Purpose For the purpose of decision-making in real estate portfolio management, alternatives are to be collected, assessed and prioritized. Due to the complexity of real estate markets, investment products and management processes, the respective decision situations are subject to several parameters. Multi-criteria models must be used to exactly evaluate and prioritize alternatives. Such models can be found in other economic and social areas but must be transferred or re-developed for the purposes of real estate management. The paper aims to discuss these issues. Design/methodology/approach The paper includes the transfer of the basic outranking methodology, the PROMETHEE (Preference Ranking Organization METHod für Enrichment Evaluations) method in particular, to real estate issues. Methods used outside the real estate industry are analyzed, selected and adapted by using real estate parameters (transfer approach). Findings Structured multi-criteria processes such as PROMETHEE are suitable for the solution of complex real estate selection decisions. The methodology with regard to the respective issues is much more consistent and efficient. PROMETHEE avoids the restriction of criteria in mathematical calculations and the restriction of quality in simple scorings. Research limitations/implications The target system and decision criteria of investors were used exemplarily. The individual parameters and criteria can lead to new model solutions. Practical implications Multi-criteria models such as PROMETHEE stringently and transparently solve complex decision problems and alternative evaluations in real estate portfolio management. They can be developed for strategic, tactical and operative decision situations. The decision quality and verification for compliance requirements improve. Social implications Multi-criteria models such as PROMETHEE can also be developed for social, societal and political decision situations. Originality/value First adaption of the outranking procedure PROMETHEE to a real estate decision situation in market analysis and portfolio management.

scholarly journals Problems of Real Estate Management with Respect to Claims for Restitution of Expropriated Properties

2018 ◽  
Vol 26 (3) ◽  
pp. 105-112 ◽  
Author(s):  
Anna Trembecka ◽  
Anita Kwartnik-Pruc
Keyword(s):  
Real Estate ◽  
Research Paper ◽  
Property Management ◽  
The Real Estate ◽  
The Public ◽  
Public Property ◽  
Property Owners ◽  
Estate Management ◽  
Real Estate Management ◽  
Executive Body

Abstract This research paper discusses the issue of the influence of claims for restitution of expropriated real properties on the process of managing public property. Owners of expropriated properties in Poland are protected in the real estate management process. It consists in the legislator imposing an obligation on the public legal entity to notify the entitled persons about the possibility to seek restitution of their properties if the intended purpose of expropriation has not been implemented and if the property is planned to be used for other purposes by the executive body. The thesis of this research paper is the statement that current legal regulations, in particular as regards the obligation to notify former owners, bring about problems in the process of the managing real estate owned by the State Treasury and local government units. The objective of this research paper is to identify problems in the process of public property management with respect to the rights of former owners to seek restitution of expropriated properties. Amendments to the regulations on real estate restitution were proposed in order to streamline the processes of rational real estate management, while respecting the principle of protecting property rights.

scholarly journals A atuação do Montepio na produção estatal de habitação em João Pessoa de 1932 a 1963

2009 ◽  
Vol 11 (2) ◽  
pp. 95
Author(s):  
Angela Araujo Nunes
Keyword(s):  
Real Estate ◽  
The State ◽  
Housing Production ◽  
The Real ◽  
The Real Estate ◽  
The Public ◽  
Official Record ◽  
The City

Este trabalho objetiva o exame da atuação da Carteira Imobiliária do Montepio do Estado da Paraíba na produção estatal de habitação na cidade de João Pessoa, de 1932 a 1963, período entre a designação da instituição para a produção de moradias em benefício do funcionalismo público até sua última realização antes da criação do BNH. Através de exaustiva pesquisa documental, realizada em acervos locais, e tendo como principal fonte o jornal A União, registro oficial das realizações do Executivo estadual, foram recolhidos dados sobre as realizações habitacionais do instituto, possibilitando a identificação das suas vilas e conjuntos populares e, posteriormente, a classificação das unidades construídas e a reconstituição da planta e fachada originais. Palavras-chave: Montepio; João Pessoa; carteira imobiliária; habitação popular. Abstract: This work analyzes the constructive actuations of the real estate portfolio of Montepio Paraíba State in the statal housing production in the city of João Pessoa, from 1932 to 1963, established between the institutional designation for the production of housing in benefit of the public functionalism and its last popular realization before the work of BNH. Through exhausting documental research, done in local collections and especially through the newspaper A União, official record of the realizations of the state executive, data was found regarding the realizations of the housings by the institution, identifying the cities and popular aggregation and later on classifying the built unities and the reconstitution of thehouse plans and the front elevation. Keywords: Montepio; João Pessoa; real estate portfolio; popular housing.

The Concept of Land Real Estate in the Act on Real Estate Management

2020 ◽  
Vol 2(22) ◽  
pp. 37-46
Author(s):  
Michał Kiedrzynek
Keyword(s):  
Real Estate ◽  
Civil Law ◽  
The Real ◽  
The Real Estate ◽  
The Subject ◽  
Estate Management ◽  
Definition Of ◽  
Real Estate Management

The management of public real estate has been regulated in many legal acts, among which the Act of August 21, 1997 on real estate management plays the greatest role. The definitions contained in it are intended to explain the most important concepts related to the subject of this act. However, with regard to the definition of land real estate, we are dealing with a repetition of what was defined by the provisions of civil law. Such a situation raises justified interpretation doubts, which may have significant consequences in the application of this act. The existence of two definitions for the same object is undesirable and the Real Estate Management Act should be amended in this respect by including an appropriate reference to the provisions of civil law.

Corporate real estate strategies: the Nigerian experience

2015 ◽  
Vol 17 (4) ◽  
pp. 244-259
Author(s):  
Timothy Tunde Oladokun ◽  
Bioye Tajudeen Aluko
Keyword(s):  
Real Estate ◽  
Business Performance ◽  
Stock Exchange ◽  
Primary Data ◽  
Content Type ◽  
The Real Estate ◽  
Corporate Objective ◽  
Corporate Real Estate ◽  
Public Organisations ◽  
Real Estate Management

Purpose – The paper aims to contribute to the empirically scarce literature on corporate real estate management (CREM) strategies by providing meaningful insights on the different strategies likely to contribute to business performance in a developing country like Nigeria. Design/methodology/approach – Primary data collected using questionnaire administered on property managers of the 105 business organisations in the list of registered companies with the Nigerian Stock Exchange were used for the study. The questionnaire elicited information on the real estate holding pattern and the adopted strategies for acquiring and managing real estate assets. The data collected were analysed using percentages, mean and proportion method. Findings – The study established that 41 per cent of the organisations were public organisations. Others were private companies (31 per cent), government departments (18 per cent) and multi-nationals (10 per cent). The result indicated that 31.8 per cent had no CREM strategy. Strategies used were: cost reduction (18.75 per cent), facilitate production (20.17 per cent), flexibility (15.5 per cent), promote human resource objectives (10.86 per cent), promote the marketing message (4.33 per cent), promote sales and selling delivery (18.67 per cent), facilitate managerial process and knowledge (7.5 per cent) and capture real estate value (6.5 per cent). The study concluded that CREM is a useful tool that the organisations can make effective use of to improve their performance. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on business performance in Nigeria. There is the need for corporations to reappraise their real estate strategy and realign it with their corporate objective. There is also the need for Nigerian Institution of Estate Surveyors and Valuers to train its members for contemporary business requirements. Originality/value – The paper is a useful guide to corporate real estate managers in developing countries towards using real estate strategies to minimize the overall cost of their companies.

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