There are a couple of ways to answer the question depending on perspective. If one looks strictly at managing the asset without regard to tenancy, buildings are buildings and have the same basic needs (structural, roofing, maintenance, etc...), those needs can vary by type of asset (office, retail, industrial, land, etc). For instance, an office asset might have extensive landscaping needs whereas an industrial asset may have very minimal landscaping or accessory needs so that profit can be maximized on a lower income basis. Stepping away from the asset view, the next most important way to compare roles and responsibilities is by Tenancy. Industrial Tenants may have very few ongoing Tenancy needs to create a successful Tenancy (most of industrial needs are upfront at the beginning of a Tenancy, and deal mostly with infrastructure (power capacity, hvac, initial build to suit, etc.) whereas Office Tenancy can require on-going responsibilities of the property manager (like scheduling rooms, assets, building resources, etc.). In both situations, however, depending on the structure of the management company the property manager might be responsible for on-going activities like posting/collecting rents, financial management, and various reporting to the investment/landlord owner(s). Hopefully this helps, it's a very general view contrasting the two types of assets.
Jul 7, 2017