When it comes to completing a construction project, the type of management service you hire makes all the difference. Not only do you want your project completed on time, but you also want to make sure no shortcuts are taken.

Property management involves the operation, control, maintenance, and oversight of a property—usually one that’s been developed—and its long-term and day-to-day usage. It includes—but isn’t limited to—managing tenants, residents, retailers, or offices that are using the space; collecting rent; ensuring maintenance; and preventing damage to the premises.

You know how they say if it ain’t broke, don’t fix it? We beg to differ. There’s a certain risk attached to working on developing investment property, because it requires effort and monetary investment on your behalf, but the payoff more than makes up for it.

The state of New York is responsible for spending over forty billion dollars of the total six hundred and six billion (plus) dollars spent on construction in the US last year according to sources. Observing the kind of development taking place in the region, this comes as no surprise. On a flipside, this also means those looking to invest in construction this year need to do so carefully.

The global construction industry today is valued at an excess of fourteen trillion US dollars. Within the US, New York has been a construction hotbed for over three years according to sources and continues to top other parts of the US in money spent on construction.

Construction projects take time; the slightest mistake can set you back weeks if not months and be incredibly costly.

The New York real estate market is flourishing making it a haven for investors and construction companies but this boom in the market comes with its own set of challenges.

Working on a commercial real estate project? You have the option of becoming your own project manager of hiring construction consultants to provide guidance.

Concerned about the project management for your next real estate project? We understand. There are several complexities involved in developing your own property.

Here are five traits that you must look in a property developer to ensure successful completion of the project.

The effectiveness and quality of communication plays a pivotal role in the success or failure of a project

As a matter of fact, it’s estimated that project managers spend 90% of their time on communication-related activities.

Why is effective communication in project management so crucial? Let’s find out!