Upon completion of the program, students will be able to...
- Understand the duties of a property manager, what types of properties use management services, and the qualities necessary for a property manager
- Identify the different types of business ownership; understand the principles of business ethics and economics, including the concept of supply and demand
- Understand the basics of building maintenance, including issues related to lighting for aesthetics and safety, HVAC systems, plumbing, and safety systems such as smoke alarms and sprinklers
- Explain how to establish and maintain successful relationships with tenants through communication and understanding of tenant needs
- Understand important accounting principles and concepts, including periodic and perpetual inventory systems, cash and accounts receivable, financial statements, and long-term assets and debt on the balance sheet; estimate a property’s financial performance and valuation
- Identify the types of deeds and their content; interpret real estate descriptions in deeds; define encumbrances, easements, and licenses
- Recognize effective management strategies for commercial, multifamily, and single family rentals, including how to advertise, evaluate credit reports, and schedule turnovers to minimize downtime between tenants
- Identify everyday challenges of community association management; list several different types of tenant associations
- Identify the key points that make an office building attractive to tenants and profitable for owners; determine whether a property maintains proper cash flow and if it’s a worthy investment
- Demonstrate computer literacy using office software
- List the various types of insurance coverage
- Identify protected classes of people on a federal and municipal level and differentiate between properties that are bound by and those that are exempted from fair-housing law
- Understand how to determine if a property needs a risk-management audit and how to shift risk liability to a third party using insurance and other methods