Course ID: | FHCE 3350. 3 hours. |
Course Title: | Introduction to Residential Property Management |
Course Description: | Review of the principles of residential property management to
provide students with a basic understanding of the apartment
industry and property management as well as to introduce students
to careers within the multifamily (apartment) industry. |
Oasis Title: | INTRO RES PROP MGMT |
Semester Course Offered: | Offered fall semester every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | 1. Understand the types of multifamily housing ownership,
the goals of owners and the role of multifamily housing managers.
2. Gain familiarity with industry terminology and the
management company’s internal structure.
3. Understand the responsibilities of a residential
property manager, how the property functions on a day-to-day
basis and the importance of establishing personnel policies.
4. Gain familiarity with general financial principles, the
financial aspects of residential property management,
establishing rent levels and valuation techniques.
5. Gain knowledge of forms, policies and procedures used in
the industry.
6. Be exposed to the different types of property
maintenance and its importance in maintaining investment value
and good resident relations.
7. Recognize the importance of risk management and safety
policies.
8. Be exposed to the basic principles of sales, leasing and
marketing multifamily properties, including: customer service,
marketing plans, features and benefits, leasing staff and
preparing units for presentation.
9. Learn how to prepare for a successful career in the
residential property management industry using tools such as
resumes, self-assessment (DiSC Profile), career fair attendance
and networking with industry professionals.
10. Gain knowledge of move in / move out procedures.
11. Become aware of how government housing is defined, what
the government’s role is and how these properties must be
managed.
12. Become familiar with the different types of properties:
new construction, condo conversions,
repositioning/rehabilitation and how these types of properties
are managed and marketed.
13. Be exposed to the legal aspects of residential property
management and how laws affect the industry.
14. Gain knowledge of housing for seniors. Understand
how “senior” is defined, what seniors value and desire, and how
to communicate to a “niche” segment. |
Topical Outline: | INTRODUCTION
Industry Overview: Terminology and Culture
THE FRONT LINE
Management and Customer Service
CAREER DEVELOPMENT
Professionalism
Marketing Yourself: Career Fair Preparation
DiSC Profile: Understanding Yourself and Others
OPERATING IN A FOR-PROFIT ENVIRONMENT
Case Studies
Economics and Finances
Preparing a Budget
Financial Reporting / Variance Reports
PROPERTY MAINTENANCE
Types of Property Maintenance
Costs Associated with Property Maintenance
RISK MANAGEMENT
Principles of Risk Management
FAIR HOUSING
History of Fair Housing
Operating within Guidelines of Fair Housing Laws
PROMOTION
Defining Your Niche – The Residential Property Marketing Plan
Resident Retention
Lease Renewals / Rent Increases
GOVERNMENT-ASSISTED HOUSING
Documentation for Federally Assisted Housing
Marketing and Management of Government-Assisted Housing
LEGAL ASPECTS
Resident Relations
Personnel and Payroll
Fair Housing
Ethical treatment of residents, owners, and suppliers
CONSTRUCTION
New Construction / Lease Up
CONDO CONVERSIONS
Trends in the Industry
REPOSITIONING / REHABILITATION
Promoting Re-use Sales
SENIOR HOUSING
Demographic Changes
Marketing Opportunities |