REAL211 Commercial Property Management

Department of Business Studies: Real Estate

I. Course Number and Title
REAL211 Commercial Property Management
II. Number of Credits
2 credits
III. Minimum Number of Instructional Minutes Per Semester
1500 minutes
IV. Prerequisites
REAL201 or permission of the Department of Business Studies
Corequisites
None
V. Other Pertinent Information
None
VI. Catalog Course Description
This course covers the fundamental principles included in the management of non-residential property, including defining the property and property management, the management agreement, fiscal management of the asset, non-residential tenants, physical management of the asset, laws, ethics, and mathematics related to commercial property management.
VII. Required Course Content and Direction
  1. Learning Goals:

    1. It is understood that this course will be designed with respect to its application to non-residential properties.
  2. Planned Sequence of Topics and/or Learning Activities:

    1. Definition of Property Manager
      1. Responsibilities of the Property Manager
      2. Qualifications
      3. Compensation
      4. Ethics
      5. Professional Organizations
    2. The Property
      1. Asset Management
      2. Defining the Owner''s Short Term verus Long Term Goals
        1. Financing
        2. Valuing the Cash Flow
          1. Return "on" and "off" value
          2. Net Present Value (NPV)
          3. Discountinued cash flow
          4. Financial Managment Rate of Return ( FNMR)
    3. The Management Agreement
      1. Development of the Management Plan
      2. Components of the Management Agreement
    4. Fiscal Management of the Asset
      1. Fiduciary Responsibilty
      2. Developing a Budget
        1. Evaluating Rents and other sources of income
        2. Estimating and Controlling Expenses
      3. Collection of Income
      4. Payment of Bills
      5. Insurance
    5. Managing Non-Residential Properties
      1. Retail
      2. Offices
      3. Shopping Centers and Malls
      4. Industrial Sites
    6. Non-Residential Tenants
      1. Tenant Relations
      2. Tenant Services
      3. Lease Agreements
        1. Negotiating; terms
        2. Net leases
      4. Laws
    7. Physical Management of the Asset
      1. Operation of the Property
      2. Tenant Responsibilities
  3. Assessment Methods for Core Learning Goals:

  4. Reference, Resource, or Learning Materials to be used by Students:

    See course outline for required textbook
VIII. Teaching Methods Employed
  • Lecture
  • Class discussion
  • Outside supplements

Review/Approval Date - 9/99; Revised 4/05