Property Management

Property management defined; types of properties involved; professional organizations; duties and job descriptions of property managers; applying principles of property management.

Business relationships between property managers and owners; preparation of the management contract; the manager's reporting obligations; mutual responsibilities.

How to negotiate a lease to your advantage; understanding specific lease terms; concessions; rent schedules; rent rebates; length of the lease period; including options for tenant alterations and expansion; qualifying the prospective tenant financially.

Building a good relationship with the tenant; inspection to verify conditions of the property; security deposits; renter's rules and regulations; scheduling rent payments; termination of tenancy.

Reporting procedures in the management of different kinds of properties; budgeting; preparing profit-and-loss statements; tax implications; tax records; cash flows; depreciation; investment tax credits; after-tax cash flow; risk management; how to obtain proper insurance.

Types of multi-family and apartment complexes; creating and using an effective residential market analysis; how to market apartment space; price adjustments; the show list; advertising; rental offices; leasing; maintenance.

Types of office buildings; determining a suitable rent schedule; marketing considerations for office buildings; advertising; public relations; how to get referrals; canvassing for tenants; preparing a solid rental sales plan; how to negotiate a lease; escalation clauses; maintenance.

The nature of industrial real estate; types of properties; industrial markets; tenant qualification; marketing techniques; lease negotiation; maintenance; security.

Maintaining safety and security; mergency technology and equipment; the role of property management personnel in safety; managing environmental issues; controlling hazards.