RES518: PROPERTY MANAGEMENT I

About This Course

The course introduces the fundamental function of property management in achieving the goals of real estate investors, whether they be private individuals or businesses. The course covers material on the goal of setting up a property management organisation, formulating policies, the basics of property management, and service and other fees.

Topics In This Course

1. Role of property management

1.1) Definition of management

1.2) What is property management

1.3) Why property management is required

1.4) Scope of property management

1.5) Statutory provisions concerning property management

2. Objectives of property management: Public and Private

2.1) Investor/property owner’s and tenants and private objectives

2.2) Short term objectives

2.3) Long term objectives

3. Organizational set up

3.1) In house property management

3.2) External property management

3.3) The property management team

3.4) Staffing requirements

4. Policy formulation

4.1) Decision making process

4.2) Constraint that affect property

4.3) Formulation, implementation and review of property policies

5. Property management fundamentals

5.1) The management and administration of urban property

5.2) Selection of tenant, tenant mix, negotiation of tenancies, leases and renewal of leases.

6. Service and other charges

6.1) Important of maintenance of common areas and building services

6.2) Service charges : calculation collection

6.3) Insurance

6.4) Taxes

6.5) Rates

6.6) Outgoings etc.

6.7) Administration of client’s accounts