GRI 301 - Property Management

Content
44 modules
Rating
Course length
3 hours
Instructor
Niki Ackels

Description

In acknowledging that there are other forms of housing, some real estate licensees may wish to expand or change the focus of their business to include property management.

Homebuilders, real estate developers, and land development companies employ real estate property managers to purchase land and assist with the planning and construction of residential and commercial real estate developments. These property managers work with various groups such as local governments, businesses, communities, public interest groups, and public utilities to build support for future projects.

Arguably, the home ownership rate in the United States is the highest in its history, there are still millions of residential tenants residing in property owned and managed by others.

This course is intended to be an introduction to property management.

An affiliate of the National Association of REALTORS® (NAR), the Institute of Real Estate Management (IREM) offers both the Accredited Residential Manager (ARM) certification and the Certified Property Manager (CPM) designation, among others. More information about IREM and other professional organizations and training is included at the end of this course.

Objectives

Upon completion of this course, the participant will be able to:

  • Help owners realize the expected revenues possible from investment property
  • Identify the four major areas of responsibility for property managers
  • Discover income producing properties that require property management services
  • Comply with Local, State and Federal laws as they pertain to property management
  • Help owner’s with the burden of debt by providing them with resources to resolve issues
  • Define management agreements and the fiduciary duties established in the agreement
  • Understand the financial issues that property managers should be aware of
  • Manage the most common property management assignments and the specific challenges with each
  • Perform the duties and obligations of a property manager for the owner(s)
  • Perform the duties and obligations of a property manager for the tenant(s)
  • Operate (manage) properties in compliance with legal requirements
  • Demonstrate professional communication and business management skills as a property manager

1.
Introduction to Property Management
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2.
Discussion: Introduction to Property Management
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3.
Introduction to Property Management Continued
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4.
Why Professional Property Management is Needed
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5.
Knowledge Check: Property Management
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6.
Complexity of Laws
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7.
Discussion: Property Management Law
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8.
Complexity of Laws: Managing the Burden of Debt
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9.
Discussion: Managing the Burden of Debt
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10.
Complexity of Laws: Asset Management
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11.
Time Value of Owners Versus Professional Managers
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12.
Management Agreements
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13.
Discussion: Management Agreements
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14.
Fiduciary Functions
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15.
Discussion: Fiduciary Functions
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16.
Fiduciary Functions Continued
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17.
Knowledge Check: Financial Considerations
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18.
Management Plans
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19.
Activity: Management Plans
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20.
Leases
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21.
Activity: Leases
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22.
Property Types and Special Considerations
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23.
Discussion: Verifying Insurance
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24.
Knowledge Check: Management Plans
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25.
Legal Aspects - Applications, Credit Reports, and Fair Housing
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26.
Discussion: Fair Housing
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27.
Legal Aspects - ADA
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28.
Discussion: ADA
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29.
Legal Aspects - Lead Paint and Carbon Monoxide
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30.
Obligations of Property Owners and Tenants
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31.
Evictions
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32.
Discussion: Evictions
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33.
Stipulations
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34.
Activity: Legal Aspects
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35.
Safety and Property Management
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36.
Discussion: Safety and Property Management
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37.
Knowledge Check: Legal Aspects
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38.
Communications Between Manager and Owner
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39.
Activity: Communications Between Manager and Owner
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40.
Sources of Management Clients
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41.
Software Programs
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42.
Professional Organizations for Property Managers
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43.
Knowledge Check: Other Considerations
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44.
References and Resources
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