Course Description
Examination of the technological products used in multifamily property management, including management, operations, and finance software designed for the multifamily industry. Exposure to the applications of such products in the context of an ongoing simulation experience for students in all aspects of property management.
Additional Requirements for Graduate Students:
Students will be required to investigate specified research topics
within the subject matter of the course. This will entail a
thorough review of literature, analysis of major questions to be
answered, and identification of specific research topics worthy of
pursuit. This will be reported in an 8- to 10-page written
research paper. The results of this work will also be presented in
class and graded for content, analytical acuity, and presentation
quality.
Athena Title
Residential Property Mgmt Tech
Equivalent Courses
Not open to students with credit in FHCE 5320E or FHCE 7320E
Semester Course Offered
Not offered on a regular basis.
Grading System
A - F (Traditional)
Course Objectives
1. Gain knowledge and confidence as multifamily housing managers through a series of simulation exercises replicating the challenges and opportunities of real-world residential property management. 2. Be able to effectively understand and analyze technology and software investments. 3. Understand the increasing significance of technology in property management leasing and marketing and see the results of employing market research and market forecasting software. 4. Examine the important role of software in successful physical plant management. 5. Gain exposure to the distinct advantages of each of the most popular multifamily industry-specific finance and management software programs. 6. Examine common software solutions for payroll and routine personnel administration tasks. 7. Learn the current and anticipated impact of smart building technology on issues of security, life safety, resident services, energy consumption, and maintenance. 8. Apply economic analysis to issue of technology adoption in the multifamily property management context.
Topical Outline
Overview • General Overview of Multifamily Technology Issues • State of the Industry/Existing Trade Data on Multiple Problems • Issues Within the Field • Diffusion of Technology Throughout the Industry Introduction • Introduction of Simulation • Introduction of Financial Software Software • Budgeting for Technology • Dealing with Technology Vendors Leasing/Marketing Software • Simulation Exercise #1 (the lease-up/marketing phase) • The Intricacies of Leasing Technology • Sampling Property Web Sites/Virtual Property Touring • Processing Technologies • Pro-Active Renewals Through Advanced Notifications • Tracking Demographic Trends and Changes Through Market Research Firms • Maintenance software • Simulation Exercise #2 (maintenance) • Tenant/Management Crisis Communication Strategies • Work Orders/Utility Management in the Wired World • CAM Technology Features/Preventive Maintenance Financial Software • Simulation Exercise #3 (general operations) • Cost Control Technologies • Purchasing and Inventory • Online Record-Keeping and Collections • Multifamily-Specific Financial Management Software Security and Disaster Simulation (if schedule permits) • Simulation Exercise #4 (managing security/physical crises) • Handling Security Issues Post-Event • Protecting Sensitive Information and Data Personnel software • Simulation Exercise #5 (personnel decisions) • Feasibility Studies on Handling Issues In-House/Exporting Services Overseas • Payroll Technologies Macro Industry Data Software • Simulation Exercise #6 (valuation exercise) • Becoming Familiar With Historic Rental Data Available From Multifamily Vendors • Understanding the Nuances and Implications of Dynamic Pricing Within the Industry Tenant-Based Software • Simulation Exercise #7 (providing tenant services) • Tenant-Friendly Web Features • Improving Response Times to Tenant Requests Through Automation Smart Buildings (if schedule permits) • The Wireless World and Its Relation to Apartment Living • Shortening the Digital Divide in Multifamily • Smart Building Technologies – Present and Forthcoming CONCLUSION • Projects Due/Simulation Results Announced • Final Exam
Syllabus