KY 3.0 hours Property Management - Course Syllabus
3.0 Elective Hours
Starting a property management business requires a great deal of forethought and planning. There are many things to consider like the business's legal status; licensing requirements; personnel matters; start-up capital; marketing strategies; fee structure; and local, state, and federal laws. An initial step is to determine whether a property management business is the most appropriate choice. This course will discuss key aspects of starting a property management business.
Starting and owning a business has many rewards like being one's own boss, having control over one's work life, and making a living doing something enjoyable and fulfilling. Business ownership, however, has many challenges like financing the business, securing customers, and contending with competitors. It also requires extensive planning, considerable time, and hard work as well as certain abilities and characteristics.
Successful entrepreneurs possess unique combinations of acumen, experience, knowledge, and skills. Risk and uncertainty are major components of entrepreneurship. Economic conditions, market trends, competitors, laws and regulations, and other factors can impact a business's performance. Some of these factors are foreseeable, which allows for mitigation of risk, but sudden events and uncontrollable circumstances can occur. Business ownership requires the ability to effectively handle these uncertainties.
This course recognizes and explains the process for starting a property management business and is a must have for anyone considering entering the property management field.