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Friday, March 31, 2006

Inventories are step toward better property management

"Agencies have created detailed inventories of the buildings, structures and land parcels they own and lease, but the jury's still out on whether this will translate into better property management.

While the federal government owns and leases more than 3 billion square feet of space worth more than $300 billion, little has been known about the condition of this property and how it's used - until now.

As part of the administration's effort to improve real property management, agencies were required to provide the General Services Administration with detailed information of their assets by the end of last year.

GSA has recently finished reviewing these submissions and plans to release a report summarizing the inventory by June 1. "

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