Essential Property Development Advisors
It’s been said that property development is a team effort. All development projects will require a level of input from professionals, whether they are project managers, accountants, mortgage brokers, or planners. In addition, using real estate development software can help you keep track of your project, cash flow, and ensure that you’re on track with your budget.
Along with working with your town planner during the building approval application stage, your solicitor can assist you with legal compliance and guide you through all stages of your development project.
Some property developers employ the services of a project manager as part of their development team. In this article, we take an in-depth look at the role of the project manager and how they bring value to your development project.
The Role of the Project Manager
Along with real estate development software, trusted contractors, and adequate financing, a project manager can facilitate the smooth running of any development project. Project managers can become involved in the project from the planning stages, from conceptualisation to leasing or sale. When a project is very large, developers may use both a project manager and a construction manager.
What a project manager does:
Town planners, also known as urban planners, can provide invaluable advice to property development projects by helping developers navigate complex regulations and liaise with local councils. Unlike conducting property feasibility studies, which is a task made simple with real estate development software, town planning tends to be a specialist area requiring formal qualifications. In this article, we look at the role of town planners, how compensation is structured, and when to consult a town planner for advice.
The Role of the Town Planner
Town planners usually help the developer with understanding planning regulations and laws. More often than not, they’ll help with preparing development approval applications to be submitted to local councils. In a development project, it’s the town planner’s responsibility to ensure that the project meets the requirements set out under regulations.
At some stage of any property development project, developers may find that they need to consult or bring in a specialist. This may be due to a number of factors: compliance, mandates by regulations, access to expertise, or for ensuring quality. In this article, we look at some of the key advisors that developers may find useful to have on their team.
1. Real Estate Agents
While a real estate agent can help with the selling, leasing, and marketing state of your property, they can be brought into the project much earlier on. Agents can provide developers with useful information and opinions on a project’s feasibility (for which property valuation software can also prove very useful), marketability during the design stage, and provide advice on setting sales prices.