Historically, the “caretaker syndrome” has dominated property management. Previous real estate cycles have shown that property management can no longer merely consist of collecting rent and paying invoices. Progeny’s philosophy is that for property management to be effective, it must be operated and managed as a form of asset management. This ensures that not only are “things being done right”, but also that “the right things are being done”. In general, property management has tended to be reactive. Progeny takes a more proactive approach, striving to create value through cost control and operational innovation.

Progeny believes that most companies that manage property do exactly that and no more. Progeny understands that what is important is not just the present value of a property, but also its future value.

Click here to see the difference between property and asset management.