The outsourcing of corporate real estate asset management in New Zealand

Abstract

For many non-property investment organisations real estate asset management is seen as a non-core activity and they seek to shift this responsibility onto some one else. In response to this increasing demand, corporate real estate service providers have emerged. Some have come from the traditional investment property management sector - others from elsewhere such as accounting firms. These service providers understandably vigorously promote the advantages of outsourcing, but there have also been reports of outsourced services not delivering the claimed benefits or other more serious problems with the practice. This paper addresses this situation by presenting presents the results of a comprehensive mail survey of outsourcing practices and experiences amongst a wide range of organisations in New Zealand holding a substantial property portfolio.