Property and Asset Management is a marathon, not a sprint!

(What running a Marathon can teach us about managing property)

A few weeks ago, and perhaps against my better judgement, I found myself lining up for the Melbourne Marathon.

Sometime later, around the 30 km mark, I realised that property and asset management has a lot in common with running 42 kilometres.

Just because you own a pair of runners, go for the occasional weekend jog, and watch every one of Kipchoge’s races doesn’t mean you can wake up and decide, “I’m running a marathon today.”

Likewise, owning a property - even buying and selling them successfully - doesn’t automatically mean you’re ready or equipped to manage them.

1. Experience Counts

Training taught me everything. Short runs, long runs, good days, painful ones. Running in the cold, the heat, and the rain.

What all that builds is experience - the kind that teaches you how to handle whatever happens on the day.

Property management is no different. Experienced managers have seen it all: small assets and large, redevelopments, leasing challenges, national tenants, mum-and-dad retailers, cleaning contracts, power outages, and HVAC failures.

That depth of experience lets them anticipate problems instead of just reacting to them. They know which levers drive performance and how to pull them for the best financial outcome.

Beware the manager who’s never dealt with on-the-ground issues - because strategic decisions only make sense when you understand how the asset actually runs.

2. The Right Tools Matter

You can’t run a marathon in dress shoes. I had the right runners, the right nutrition, and a watch tracking my every heartbeat and more.

The same logic applies to property management. A proper system (not just a series of Excel spreadsheets) keeps rent billing, compliance, recoveries, and reporting on track.

Today’s PropTech goes even further: AI lease readers, digital compliance logs, and automated workflows. They free up time so managers can focus on strategy, not spreadsheets.

3. Surround Yourself With Experts

I finished my marathon (in a great time) because I trained with a group of people who’d run over 100 marathons between them. Their advice on pacing, nutrition and race strategy was invaluable.

Managing property works the same way. Whether it’s a redevelopment, tenancy remix, or refinance, having the right experts around you can be the difference between “steady progress” and “hitting the wall.”

The Long Game

Property and asset management isn’t a sprint. It’s about consistency, systems, and support - and staying disciplined long after the excitement of the purchase has faded.

Results don’t come overnight, but with experience, tools, and expert guidance, they do come.

After three decades managing everything from CBD icons to neighbourhood centres and airport precincts, I now work with investors and family offices who want to maximise income and value, whilst stepping back from the day-to-day.

Because like a marathon, success in property isn’t about speed. It’s about endurance.

About the Author Alan Baynash brings 30 years of experience in the retail property sector, having worked with private investors, institutional landlords, and leading agencies. As Principal of TPD Asset Management, he specialises in helping high-net-worth individuals, family offices, and syndicates maximise returns and protect the long-term value of their retail property portfolios.