New Jersey Real Estate Continuing Education - NEW JERSEY School Organization ID: P1000137
NJ 4.0 hours Property Management - Course Syllabus
4.0 Elective Hours
Ultimately, property management involves securing the best return on investment for the property owner. Several administrative, financial, and marketing responsibilities are involved with achieving this goal. Administrative tasks include record keeping, coordinating maintenance and repairs, managing staff, and ensuring compliance with laws and ordinances. Financial tasks include budgeting, managing bank accounts, and preparing financial reports. Marketing tasks involve creating a brand, identifying a target market, and advertising rental properties. This lesson will discuss in more detail key elements of these functions.
The administrative function involves overseeing the day-to-day operations of a property. It encompasses all aspects of property management including financial management, marketing, leasing, owner and tenant relations, maintenance operations, and risk management.
General administrative tasks include planning, organizing, and coordinating resources, policies, and procedures; developing and retaining records; and ensuring compliance with laws.
A management plan includes the actions that a property manager will take to manage the physical and financial aspects of a property with the purpose of maximizing its potential and achieving the owner's goals. A management plan is a dynamic document that should be revised as needed to maximize return on investment.
Upon course completion the real estate professional will be able to describe and apply administrative, financial and marketing principles in property management.