The management of a property must have goals and objectives. There are two types of organizational goals which are the short term goal and the long term goal. Short-term goals are considered to be within a year, and long-term goals are over a year.

The short-term objective is also called operational objectives, since it will continue to be a daily operation. Property management activities that are daily are like garbage removal, cleaning, or gardening. The workforce that has been designated to perform work, such as pipe repair, must be someone who has the skills and knowledge. The labor must be the skilled person. Also, the management structure should have been organized and always up to date. The necessary information, for example, the contract or the service, must be verified to ensure that the service is always available to the owner or it must be cancelled. Property information, such as taxes, must be paid and financial information, such as rent payments, must be recorded. Daily monitoring of the employee’s work is required to make sure that the performance measurement is good and of quality. All of the things that have been mentioned above are under the short-term objective.

Long-term goal is also called strategic management. It is more about policy formulation and interpretation. It is also about programmed formulation, implementation and activation. The owner looks for the results. For example, a hotel owner’s mission is to upgrade a 3-star hotel to 5-star hotels in 5 years. Therefore, the property manager will ensure and monitor all the essential works to make sure that the mission is accomplished within time.

The organizational objective is applicable during the life of the organization. It is included in the strategic plan, five-year long-term plan, and tactical plan. The organization must have annual objectives. The short-term objective in the operational plans must have the specific time horizon.