Q&A with Ingrid Filmer
Q: What challenges do asset managers currently face?
A: “A number of crucial incidents have brought to the forefront the issue of combustible cladding. Combustible cladding has been widely used on commercial and residential buildings throughout Australia. This is fast becoming the most important, and costly issue for building owners, as it has flow-on effects for insurance costs and dire maintenance costs.
Owners, with little warning, are being issued compliance notices, with the rectification costs in the hundreds of thousands of dollars. As asset managers, we are finding and facilitating the best and most cost-effective solutions for owners, while also putting the safety of tenants and the public at the forefront.”
Q: How are asset managers playing a role in sustainability?
A: “The property industry’s attitude towards environmental issues is changing rapidly. Ensuring buildings are built and operated ore sustainably and cost effectively is top of mind.
Energy costs are fast becoming one of the largest expense items for tenants and landlords. We are actively implementing solar solutions. Australia has the highest average level of solar radiation per square metre of any continent in the world, making our building prime candidates for solar energy technology, particularly as it becomes increasingly cheaper and more accessible.
While embracing sustainability and positively impacting climate change will inevitably incur some initial capital costs, we’re convinced our clients achieve savings over a longer cycle, without compromising their building’s performance.”
Q: What makes a great asset manager?
A: “There’s so much more to being an asset manager than purely collecting rent, although that does form a large part of it! At the end of the day, the property is someone’s investment, so managing it well means finding ways to maximise and underpin value.
One of our asset managers’ key aims is to minimise our clients’ expenditure on their property and make sure every dollar count. Managing expenditure now can save long term cost. A well-managed and well-implemented maintenance lifecycle plan is key for effectively forecasting expenses and also avoiding costly building maintenance & compliance issues that inevitably arise when a building is poorly manages.”