Property management is a special category of real estate work. The term “property management” generally refers to the group of services which an owner hires a professional property manager or management firm to perform. The quality of management directly affects the profitability of the property being managed. A skilled property manager thus protects the owner’s capital investment in real estate and makes sure that the property generates profit. In many cases, property managers must be licensed real estate brokers.

We will cover a property manager’s basic functions, including administrative duties, leasing practices and the manager’s legal relationships with the owner and the tenants of the property. The course also discusses the way to construct a management agreement so that the manager and the owner clearly understand one another’s roles. Licensees will benefit from understanding the various types of property management, as well as the duties that successful property managers must perform.

Learning Objectives

Upon completion of this course, the student will be able to:

• Describe the purpose and the various kinds of property management.
• Outline the manager’s legal relationship with the owner.
• Identify the day-to-day tasks of the property manager.
• Describe effective ways for a property manager to interact with tenants and potential tenants.
• Recognize the various types of leases and leasing procedures.

Approved Course Number:

04-00-100-7479