The course is designed for those who are seeking a highly skilled profession in real-estate market. Also to the ones who are working in this field and need to improve themselves to get a better performance, or simply, to the ones who want to enter the real-estate market carrying with themselves a solid academic foundation.
Introduction to Property Management
History of the profession
Scope of Management
Economics and Planning
Recognize the changes and movements among the general business economy, the real estate economy, the rental market, and their relationship to property management.
Describe the three basic tools and their criteria that the property manager systematically uses to collect data for formulating the management plan.
Differentiate the procedures used in preparing a management plan and explain the importance of each procedure.
Describe the various methods the property manager employs in meeting the owner’s objectives and in achieving the optimum financial position for the property.
Explain the reason for considering ‘communication’ as one of the biggest problem in property management.
Describe the position and the role of a property manager.
State the reasons for maintaining good public relations and how a property manager can win the trust and confidence of others.
Identify the effect of communication failure and the importance for effective communications.
List the different forms of communications and their respective roles.
Identify the authority that is signified by a lease and the importance of a written agreement.
Distinguish the three types of leases and their variations.
Identify the six basic elements of a lease and elucidate the conditions and rationale behind each procedure.
Identify the two groups of lease provisions and the purpose of their respective clauses.
Identify the main purpose for having insurance and describe the differences between condominium and co-operative insurance.
To be able to recognize hazards and their relationship/effects to the named insured.
Identify the types of insurance available.
Identify additional hazards.
Understand the cost of insurance.
Study an example of co-insurance.
Identify possible actions after a loss has occurred.
Identify the factors that need to be considered in determining tenant policies.
State the proper procedures for assessing potential tenants.
Learn how to properly inform the tenants.
Identify the factors involved in tenant improvement and the tenant turnover.
Describe the procedures involved when there is illegal use or damage of the property.
Describe the procedures involved in dealing with tenant complaints and tenant unions.
Describe the procedures involved in tenant subletting and moving.
Describe the advantage of maintaining good tenant relations.
Identify the three approaches to value for arriving at a final estimate and explain the subjective nature of the approaches. Name the most appropriate and impartial method.
List the procedures required in the income approach method and elucidate the conditions and rationale behind each procedure.
Explain the critical role a budget plays in achieving an understanding between a building owner and the manager.
Describe why the Monthly Cash Flow Budget is superior over the other four forms of budgeting for forecasting the property’s income.
List the procedures required in the preparation of a budget and elucidate the conditions and rationale behind each procedure.
Acquire a basic working knowledge for deriving a report based on a case study.
Receipts and Disbursements
Acquire a keen awareness of the importance of regulating and recording of income and controlling expenses and describe the relationship between the unit and the factors concerning rental payments.
Explain the need for an effective system of control for miscellaneous receipts, security deposits and state the reasons behind for having collected money in separate accounts for each property.
Describe the steps involved in the purchase of supplies, materials and services and the reason for taking this approach.
Identify the different types of payment a property manager would encounter and the responsibilities a property manager has for each type of payment.
Describe the three types of salary and the proper documentation for payroll.
Explain the importance and necessity for having reserve funds.
Condominiums and Co-operatives
Define ‘Condominium’ and the advantage of a condominium.
Distinguish the different types of condominium.
State the advantages of a condominium over a rental unit and a traditional house.
Define the roles of the Declaration, the Bylaws, and the Unit Deed of the governing documents.
Identify the advantages and the disadvantages of a cooperative ownership.
Describe the role of the Board of Directors and their responsibilities.
Attain a better understanding of the different roles and functions of management.
Sales & Marketing
Identify the importance of planned preventive maintenance.
Identify the relationship between building energy use and the building components. Describe a typical maintenance checklist.
List he methods/approaches involved in Peak Load Control.
Identify what is involved in the Energy Audit and Analysis.
List and describe the importance of monitoring and feedback in the implementation of energy conservation.
Identify the specifics involved in maintaining the building’s mechanical systems and the building components.
Identify the different levels of management.
Describe the five areas and the four basic skills of supervision. Identify the factors that contribute to successful supervision.
Identify the planning procedures and the practical tips for effective delegation and the steps involved in decision-making and problem solving.
Identify the factors that are effective in motivating employees