Why should asset managers monitor progress of assets?

Monitoring the progress of assets is essential for effective asset management, as it allows asset managers to gather and assess performance data over time. This ongoing evaluation is crucial for identifying trends, issues, or opportunities that may arise in the management of the property. By continually assessing the performance of assets, managers can make informed decisions about adjusting strategies or operations.

The ability to recommend a new course of action stems from this monitoring, as it provides the insights needed to respond proactively to changing market conditions or tenant needs. For example, if the analysis shows that a particular asset is underperforming, an asset manager can decide to implement new marketing strategies, adjust pricing, or even consider renovations to enhance the property's appeal. Ultimately, this proactive approach supports maximizing the value and return on investment of the assets in their portfolio.