Austrian Roth offers 'loco domini' to families.
Austrian Roth & Partners, a real estate consultancy which has acted in place of the owner ("In Loco Domini") for offshore investors, is expanding its capability to provide the same services to individuals, families, trustees, devisees and non-profit organizations.
The service provides professional, expert oversight of the management, operations and disposition of commercial and multifamily residential property for new owners who are unable--through geography or lack of experience--to perform these activities themselves.
The firm provides comprehensive real estate portfolio assessments and operational audits. In addition. Austrian Roth & Partners selects and supervises property managers and leasing agents, and reports regularly to the
owner or trustee on the economic performance of the assets. The goal of "In Loco Domini" services, a service mark coined by Austrian Roth & Partners, is the preservation and enhancement of value in real property assets.
"For the family that has inherited commercially-productive real estate or important holdings of land, or for the charitable organization that becomes the recipient of real property, there is often no one close by or sufficiently experienced in real estate to fully protect the new owner's interests," said James A. Austrian of Austrian Roth & Partners. "We can advise the owner or devisee if the property is managed well, or how to increase the return from a property even if the existing management is adequate. These are problems with which a real estate counselor is familiar and confident. We are able to give our clients peace of mind in the knowledge that their immediate interests and long-range goals are being served through decisions about the handling of the property."
Austrian Roth & Partners, acting "In Loco Domini" or in any other capacity, is unusual in that the firm derives its income from pre-agreed fees, rather than from commissions dependent upon completed sales or leases. This allows the firm to act entirely in the financial interest of its clients, with no stake in the economics of a given transaction. Most real estate advisors depend on commissions or, in some instances, on ownership positions in lieu of commissions. These methods often appear to put consultants in competition with their own clients."
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|Title Annotation:||will act in place of owner|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Nov 13, 1991|
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