Asset Management 101

Asset management is the method that a company uses to track fixed assets. It is the process of controlling assets throughout their lifecycle - from procurement, through daily operations, and finally disposal. Factory equipment, desks, chairs, computers, and property are some examples of such assets. Broadly speaking, asset management involves tracking the physical location of assets, managing demand for scarce resources, and accounting tasks such as amortization. Issues that are part of asset management include asset value and depreciation; purchasing requests, orders, and asset receipts; licenses, leases, maintenance, and other contracts; vendor performance, service levels, and warranties; departmental and user data; and physical asset attributes. One of the purposes of going all these lengths and putting in effort to organize all this information is to keep track of important information such as how much the asset costs, whom it was purchased from, who is using it, where it is physically located, which department code the cost should be assigned to, which vendor should be called for support, when the lease expires, when it should be retired, what the depreciation rate is, etc. This, in turn, provides the basis for managing and optimizing an organization?s entire asset portfolio.

When we speak of property management as part of asset management, it includes property selection, implementation of policies and performance standards for that property, and monitoring of its performance in relation to the owner?s objectives.

Generally, there are four broad stages of the asset lifecycle:

Planning and procurement: This involves planning, ordering, and receiving the technology.

Operations: This includes managing the day-to-day operations of the assets to maximize productivity.

Financial management: It involves ensuring accurate tax, depreciation, and other costs.

Disposal: Once it is time for disposal, you are required to remove the asset from the enterprise in compliance with environmental regulations.

Various tools are available for asset management. However, it is important to realize that asset management is primarily a process, and the tools aspect is just a small aspect of it. Since every organization is unique, with its own unique needs and strategies, the ideal asset management process for each organization differs.

Chris Tolamalu is interested in asset management. See http://www.assetmanagementjournal.com/ for more information.

Property management on Costa del Sol

Now that you have purchased a villa or apartment on the Costa del Sol, Spain, you now face another decision: property management or finding a company to look after your property. Whether your villa is in Fuengirola, Mijas Costa, Benalmadena or Marbella, you need to be sure that the property management company will provide you with all the services you require such as maintenance, cleaning, property administration, holiday rental services, building and refurbishment.

Multi Property Services - gives owners of Costal del Sol property who are interested in letting out their villa or letting out their apartment the confidence and piece of mind in knowing that they can gain the financial rewards of short- or long-term rentals while protecting their property and interest. Here are some tips for you if you are looking for a company in Fuengirola, Mijas Costa, Benalmadena or Marbella to manage your property or letting your villa or apartment.

Property inspections - the company you select should check your property on a weekly basis. Inspections should include a check of all plumbing, baths, toilets and making sure all showers are off and all other fixtures are in working order. It should also include an inspection of electrical outlets and small appliances, again to ensure that they are in perfect working order.

Outdoor inspections - includes the checking of lawns, gardens, and the pool for any damage. The rental property management company should make sure that the sprinkler systems and pool filters are working. The company should also regularly inspect for any pests or vermin.

Property administration - The rental property management company will ensure that utility payments, taxes, and other bills are paid in a timely manner. They should also provide you with a monthly report.

Property inventory - the property management company will go through the property with you, making a thorough property inventory and using that as the basis for checking the apartment or villa after guests have departed.

Cleaning services - Prior to the arrival of guests, the rental property management company should arrange to have your villa or apartment cleaned and prepared for letting. Some companies may, for an extra fee, also offer a greet and meet service for guests.

Mail pick-up - Any mail should be picked up from the property and forwarded on to the owner.

When you do find the right rental property management company, then owning a property in Fuengirola, Mijas Costa, Benalmadena or Marbella will be both a personally and financially rewarding experience. To learn more about subjects like costa del sol property management please visit the web site at: http://www.multipropertyservices.com

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