Asset Management Operational & Financial Review
ASSET REVIEW PROCESS
Wilkinson Asset management (WAM) tracks actual historic trends and forecasts performance outlooks. This data is used to coach the management company operators to maximize performance. Below is a checklist of reports used to review and coach performance:- Daily and Weekly Reports. These reports track the properties’ day-to-day transactional business. WAM tracks the following key indicators: Occupancy, Sales (market rate, concessions, incentives), Renewals (increase, concessions, incentives), Collections, and Product delivery spend estimates.
- Monthly Reports: The process is to receive management company month-end reports and feed them into WAM trending and forecasting tools.
- Quarterly Reports: This process includes conducting sessions with the management company operators, reviewing all performance management tools and creating an outline for discussion with operators. During the review WAM discusses performance trends, initiatives, and forward-looking trend outlooks. WAM coaches on performance improvement and works with operators to create quarterly action plans with specific run-rate performance goals.
WAM tracks and analyzes the following key indicators for both Monthly and Quarterly Reports:
Revenue, Expense, NOI, Cap-R spend, and Variance reports.
- Run Rate Analysis
WAM trending and forecasting tools analyze data from many angles to better understand trends. One of the primary items tracked for all of the key indicators is run rate analysis.
ASSET/OPERATOR GUIDANCE PROCESS
WAM provides coaching, leadership development, and guidance to the operators that drive performance at our properties. We believe there are two main drivers to performance coaching:
- Focus on Operating Fundamentals. Track and understand your business so you can focus your energies on key improvement
opportunities versus “rounding up the usual suspects.” - Focus on People. The former OSU coaching legend Woody Hayes used to say that “you win with people.” We coach, mentor, develop, parent, and cheer our teams to inspire personal best performance. We want to ensure we have the right captain running each of our assets.
