Status And Role Of Commercial Property Management Company In Multi-ownership Of Commercial Property

Multi-ownership commercial property came into being under specific historical conditions and in particular phase in the course of China's commercial real estate development. Its drawbacks and difficulty in terms of operation and management are widely recognized in the industry and the mode is thus gradually abandoned by mighty developers, but the existence of a large number of multi-ownership commercial real estate projects is still a tough issue confronted by commercial real estate managers. For example, there are roughly 800 real estate developers in varied scale within the five districts of Chengdu, Sichuan Province. The majority of them have their own property management companies to operate residential or commercial properties they developed. Some of the developers, however, are kicked out of the market only after 2-3 years' emergence while some are beleaguered with broken capital chain.The author, holding a management post for many years in Commercial Property Management Company of Blue Ray Corporation, witnessed the whole process in which the Corporation has evolved into the top three large developers in Chengdu from a small and ordinary real estate company with weak funds.What are the factors leading to its success? It stands to reason that its management company contributes largely to that its commercial property projects are well received by the market one after another after construction and present stronger vitality and enjoy better reputation.This paper focuses on the role, function and significance a commercial property management company shall play and exert in multi-ownership commercial property.