How to Progress in Real Estate Business?

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‘Ingredients’ for development

GAO did acknowledge the actions the government has actually required to improve real property management, considering that the last High-Risk report in 2015.

Along with the National Strategy, and its buddy Decrease the Footprint initiative, GSA in January 2016 released a newer version of the Real Property Management Tool, which enables firms to view leases and occupancy agreements, lease per square foot, operating and maintenance expenses, and compare details on an agency or governmentwide level. The department also last summer stood up an Asset Debt consolidation Tool, which lets agencies see federal realty in areas in specific geographical places, which can help with consolidation efforts.

Another action in the right instructions was the passage of two reform costs, GAO stated.

The Federal Assets Sale and Transfer Act of 2016, and the Property Management Reform Act of 2016, “might address the long-standing issue of federal excess and underutilized property,” GAO reported.

Gene Dodaro, comptroller general of the U.S. and head of the GAO, informed congressional committees recently that the laws are proof of development.

The very first piece of legislation creates an independent board “to make suggestions to sell or dispose of some high-value residential or commercial property that the federal government has,” Dodaro said. “That’s an excellent advance, I think.”

The 2nd law codifies the Property Management Council and gives it a ‘order of business.”

” Hopefully, it will result in a minimized reliance on leasing too,” Dodaro said. “That’s an area that still has to be dealt with. The federal government rents some home for years that it would have been far more affordable to construct rather than lease. So, we’re aiming to get the companies to focus on some high worth leases and doing a cost contrast in those areas. They’re beginning to enhance the precision of the info in the home management database. Some management, some methods, excellent assistance from the Congress, all these are active ingredients to the progress.”

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