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Introduction to Property Management New

Course Description

Course Description

The goal of this course is to provide licensees with an understanding of various relocation service requirements. Providing relocation services involves working simultaneously for two different clients with two distinctively different service requirements, some of which overlap. This course explores corporate relocation policies, tax issues, relocation management companies and the services they provide, home sale programs, corporate listings, RMC guidelines, and Worldwide ERC.

Content Outline:

  • A Profession of Service: Part 1
  • A Profession of Service: Part 2
  • A Profession of Service: Part 3
  • Preparing For Management: Part 1
  • Preparing For Management: Part 2
  • Leases and Leasing: Part 1
  • Leases and Leasing: Part 2
  • Lease Clauses
  • A Continuation of Lease Clauses
  • Residential Property
  • Management: Part 1
  • Residential Property Management: Part 2
  • Commercial Property Management
  • Office Property Management
  • Industrial Property Management and Special
  • Properties
  • Special Management Situations: Part 1
  • Special Management Situations: Part 2
  • Special Management Situations: Part 3
  • Liability and Risk Management: Part 1
  • Liability and Risk Management: Part 2
  • Security and Safety: Part 1
  • Security and Safety: Part 2
  • Maintenance and Energy Conservation: Part 1
  • Maintenance and Energy Conservation: Part 2
  • Records and Controls: Part 1
  • Records and Controls: Part 2
  • Promotion and Advertising: Part 1
  • Promotion and Advertising: Part 2
  • Tenant Relations
  • Fair Housing and Ethics
  • Owner Relations
  • Management Operations: Part 1
  • Management Operations: Part 2

Learning Objectives

  • Describe the historical background of property management that has led to the present career opportunities in this field of service; Explain why owners choose professional property management; Evaluate how professional management can meet owner needs and goals
  • Describe what it takes to make a successful property manager; Evaluate how your personal attributes fit with those necessary for success
  • Explain how preparation and education are lifetime activities; Evaluate how professional organizations can aid your career growth
  • Describe the benefits of ownership and how owner goals relate to a management plan; Analyze a property, including the changes in operation and physical aspects recommended to best maximize owner benefits; Evaluate when to refuse property management opportunities; Indicate when negative aspects will outweigh fees and commissions
  • Evaluate the relevance of the various contractual provisions; Recognize when property management contracts can be terminated with and without further obligation; Discuss the necessity of having a takeover checklist; Explain the necessity of obtaining documents and information upon procuring a management contract
  • Define what a lease is and the requirements of all types of leases; Evaluate the difference between assignment of a lease and subleasing
  • Discuss the process of qualifying prospective tenants and the process; Identify the role of the property manager in drafting leases and the dangers in using lessee prepared leases; Evaluate the dangers and benefits as to the length of leases; Demonstrate how to reach a win/win objective in lease negotiations; Describe the required disclosures
  • Describe the different lease clauses and what they mean, and their applicability to the specific needs of lessors and lessees; Identify what can be included in a lease
  • Explain the different lease clauses and what they mean, and their applicability to the specific needs of lessors and lessees; Describe what can be included in a lease
  • Define what should be included in a residential property management contract; Discuss the necessity of developing policies for managing a residential property
  • Analyze rents in a community to make informed decisions as to economic adjustments; Explain how to prepare a property for lease, the pre – qualifications and qualification process, showing the property, obtaining the lease application, and getting the lease signed; Describe lessor disclosure requirements, and both tenant and lessor obligations; Identify the necessity of rent collection procedures and the process of eviction, as well as how to handle tenant problems and use charges
  • Explain how commercial management differs from residential property management, as well as management concerns; Evaluate leases tailored to commercial management; Describe commercial property from the viewpoint of the owner, manager, and tenant
  • Evaluate how office management differs from residential property management, as well as management concerns; Recognize leases tailored to office management; Define office property from the viewpoint of the owner, manager, and tenant
  • Explain how industrial management differs from residential property management, as well as management concerns; Analyze leases tailored to industrial management; Describe industrial property from the viewpoint of the owner, manager, and tenant; Discuss specialized uses of property management from a management perspective;
  • Define a single – room occupancy (SRO)
  • Describe the issues unique to the management of condominiums; Summarize other special management situations involving resort areas;
  • Compare the specialized residential management of single – family dwellings and short – term properties
  • Describe the features offered by elderly housing facilities; List the special issues involved in managing housing for the elderly; Recall the housing facilities offered by federal, state, and local governmental institutions; and Discuss the problems (their solutions) of subsidized housing.
  • Describe time share properties and the management duties and problem areas associated with them; List the issues involved with the management of mobile home and RV parks; Relate the factors involved in agricultural property management; Identify the management skills and duties required when managing dock facilities; Summarize the special issues involved in the management of other properties such as medical offices, mini – storage facilities, and storage yards
  • Explain liability regarding personal injury and property loss that goes with property ownership and management; Summarize other risks that owners, tenants, and managers are exposed to; Evaluate the management decisions involving risk; Describe how risk can be transferred to others using insurance; and Identify various types of insurance protection available
  • Identify various types of insurance protection available for the tenant, property manager, and owner; Evaluate how much insurance is enough
  • Describe a property manager’s security obligations to protect tenants; Identify what type of lighting increases security; Recall which types of landscaping, fences, and walls deter intrusions; Indicate the door and lock features that best prevent crime; Discuss the security issues regarding windows; Summarize the advantages and disadvantages of electronic gates and guard services
  • Identify the different types of alarms; List the security issues involving rent collection and showing units; Describe which safety devices are required by your local fire and safety codes; Explain the safety requirements of the Occupational Safety and Heath Act, and how it
  • applies to property management
  • Evaluate the basis of making decisions regarding the use of employees or contract providers for maintenance work; Describe the importance of privatizing maintenance tasks, setting specifications, and striving for standardization
  • Define the specific maintenance problems which a property manager can expect to encounter, as well as the corrective measures that are likely to be appropriate; Evaluate the importance of the difference between repairs and improvements;
  • Explain a preliminary energy audit of a property, and recommend how energy and water can be conserved
  • Describe the requirements for handling trust fund accounts; Identify which records to present to your client and which ones to keep
  • Describe the forms used in property management;
  • Evaluate the importance of accurate record keeping
  • Demonstrate how to enhance your firm, as well as personal image, to help you in obtaining management contracts; List sources you can use to locate management opportunities
  • Compare the various methods of promoting rental space; Discuss the use of advertising tools such as signs, the Internet, and billboards; Recall how to compose classified ads and select the appropriate newspaper; List alternative marketing tools
  • Recognize the importance of educating a tenant about lease clauses and occupancy rules; Explain the dangers of renting to friends or relatives, or having a romantic entanglement with a tenant; Identify the importance of properly handling problem tenants and tenant complaints and what you can learn from them; Summarize how to handle tenant waiting lists as well as the tenant’s right to make repairs and deduct the cost from rent; Evaluate how to handle late rent, tenant absences, the death of a tenant, and changing the terms of tenancy; List the step in the eviction process and prohibited practices
  • Describe the various civil rights laws, and, in particular, their applicability to property management; Define the prohibitions under fair housing laws; Identify the importance of the Americans With Disabilities Act and the Equal Credit Opportunity Act; Discuss the importance of ethics and the ability to analyze a situation from an ethical viewpoint
  • Explain the necessity of effective owner/manager communications; List the fiduciary duties a manager has to an owner; Identify the dangers of romantic relations with tenants; Describe how to be courteous and neutral to internal politics when dealing with homeowners association members
  • Analyze the organization of a management office and staffing requirements; Discuss the importance of having a policy manual; Explain the economics of scale and how size relates to the costs of management and how fees are calculated; Identify the status of a resident manager, the attributes of a good manager, a resident manager’s duties, and common managerial problems; Evaluate the hiring process and the importance of a job application and employee interview; Relate how to deal with immigration issues
  • List what should be included in an employee file; Summarize the employee evaluation process; Discuss important issues regarding employee relations; Recall ways to retain employees; Describe in – house training of employees and the utilization of professional organizations for training; Identify firing procedures and problems; Evaluate what it will take to open and maintain a successful property management office

State Requirements

Our real estate CE courses meet the requirements of the Georgia Real Estate Commission (GREC). Take your 24-hour Georgia real estate continuing education now. All licensees who have a license number above 100,000 are required to take continuing education during a four-year renewal period to renew their licenses. A renewal period begins four years prior to the current renewal due date. For instance, your renewal date is March 31, 2006. You must complete your CE requirements between April 1, 2002 and March 31, 2006. All CE courses completed outside the renewal period will not be credited.

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