Why is management support considered crucial for property function?

Management support is crucial for the property function because it helps ensure that the policies and procedures established for property management are seen as valuable and essential within the organization. When management actively endorses and supports these policies, it fosters a culture that recognizes the importance of property management issues, leading to greater compliance and adherence among staff and stakeholders. This backing signals to everyone involved that effective property management is a priority, ultimately contributing to better decision-making, resource allocation, and commitment to best practices in property stewardship.

While other aspects like leasing negotiations, funding for acquisition, and facilitating audits are significant in their own right, the foundational element remains the perception and prioritization of property management practices within the organization, which is heavily influenced by the visible support from management. When leaders value and advocate for these procedures, it raises their profile, encourages proper implementation, and augments the property function’s overall effectiveness.