Property Management

To homeowners, a well-managed property looks nice, operates smoothly, and preserves the resale value of the property. To businesses and investors, properly managed real estate may result in greater income and profits. Property managers maintain and raise the value of real estate investments by handling the logistics of running a property. If you are interested in working in a dynamic field that values independence, cooperation, planning, and customer service, explore the possibilities of becoming a property manager.

Overview of Residential Property Management

This introductory session will touch on the central issues involved in managing today’s residential properties by identifying types of residential properties, examining the role of the property management/manager in relation to property owners, residents, and staff, and addressing interaction with municipal government and officials.

Financial Foundations for Residential Property Managers

Students will learn basic budgeting and accounting practices necessary to manage residential properties, including a yearly operating budget, asset management, long-range planning, capital needs analysis of existing facilities, negotiating with contractors/suppliers/vendors for competitive pricing, and establishing contracts for service and supplies.

Building Operations and Maintenance

The property manager is the “go-to” person for many issues related to the management of the community. Buildings, grounds, and common areas within the community must be maintained, improved and protected at all times. Basic understanding of HVAC, plumbing and water management, energy management, waste/recycling issues, elevators, and roofing issues will prepare you to handle everyday challenges. A good manager must have the general knowledge or be able to choose service providers to correct problems and tackle planned improvements in a timely manner.

Safety, Security, and Risk Management Essentials

Participants will learn to navigate the legal aspects of residential property management; identify insurance issues; examine compliance with federal, state, and local codes including OSHA, ADA, fire, and life safety; develop emergency and disaster preparedness responsibilities; explore community security options; and coordinate efforts with local municipal government and officials.

Community Relations

Property management also involves people management. Sharpen your interpersonal communications skills with this course, and learn to effect optimal relations between community leaders, residents, municipal government officials and the management office. Discussions will involve the use of newsletters, websites, bulletin boards, community meetings, resident rules and by-laws outlining the specific responsibilities of residents and the management team to help all parties communicate effectively, and resolve disputes. Participants will also explore the unique needs of various residential communities.

Exterior and Grounds Maintenance

The general appearance and up-keep of the residential community is extremely important to the value of the community association. Responsibility for maintaining the building exteriors and grounds falls squarely in the domain of the property manager. Participants will be able to assess and develop plans for landscaping, storm water management and develop strategies for parking and general traffic issues. The association management is also responsible for the maintenance service vehicles owned by the association.

Managing Special Facilities

Residential properties often include community amenities like swimming pools, game rooms, exercise areas and clubhouses where special events are hosted. These recreational facilities bring unique management challenges requiring special attention. Completion of general rules of operation and usage, mandatory compliance of environmental codes, maintenance procedures and obtaining necessary inspections and licenses will be discussed. Some community facilities may also be rented to outside community residents/individuals/groups. Contracts, fees, and procedures need to be clearly developed. Skills obtained in this class will help prepare the manager to deal with these special challenges and facility management in a variety of residential properties.

Managing People to Manage Communities

What role does the community manager play in managing personnel and working with community residents? This course will discuss staff selection and training, scheduling, developing staff manual and job descriptions, and performance review. Participants will also look at issues surrounding the training of community board and committee members.

The Complete Community Manager- Putting It All Together

Property management is a growing industry which involves all aspects of management and working with people. This session ties together all of previous units, finalizes the community into one unified concept and completing the budget process. The course also covers how to of present materials and a final budget to the entire community.