REAL210 Residential Property Management

Department of Business Studies: Real Estate

I. Course Number and Title
REAL210 Residential Property Management
II. Number of Credits
2 credits
III. Minimum Number of Instructional Minutes Per Semester
1500 minutes
IV. Prerequisites
REAL101 or REAL102 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 involved in the management of residential property, including asset management, management agreements, residential leasing, physical management of the asset, mathematics of property management, laws, and ethics.
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 residential properties.
  2. Planned Sequence of Topics and/or Learning Activities:

    1. Definition of Property Management
      1. Responsibilities of the Property Management
      2. Qualifications
      3. Compensation and Anti-Trust Considerations
      4. Ethics
      5. Professional Organizations
    2. The Property
      1. Asset Management
      2. Defining the Owner''s Short Term versus Long Term Goals
      3. Evaluating the physical condition of the property
    3. The Management Agreement
      1. Development of the Management Plan
      2. Components of the Management Agreement
    4. Fiscal Management of the Asset
      1. Fiduciary Responsibility
      2. Developing a Budget
        1. Evaluating Rents within the marketplace
        2. Evaluating other sources of income
        3. Estimating and Controlling Expenses
      3. Collection of Income
      4. Payment of Bills
      5. Insurance
    5. Managing Residential Properties
    6. Residential Leasing
      1. Residential Tenants
        1. Application and Selection
        2. Fair Housing Laws
      2. Lease Agreements
      3. Tenant Relations
        1. Landlord/Tenant Law
    7. Physical Management of the Asset
      1. Operation of the Property
        1. On site versus off site operation
      2. Repairs and Maintenance
        1. Employees
        2. Independents
    8. Mathematics of Property Management
  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 3/05