4.0 hours Property Management – Course Syllabus

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Course Syllabus:

4.0 Elective Hours

The condition of a property affects its profitability and has implications for all other areas of property management—administration, financial management, marketing, property owner and tenant relationships, and risk management. For example, poorly maintained properties could lead to costly repairs that could have been avoided, poor relationships with tenants, vacancies, building code violations, and legal claims against property owners. These problems could jeopardize a property manager's relationship with the property owner, lead to litigation amongst the two parties, and end the business relationship.

Proper maintenance of a building is essential for achieving the property owner's goals because it reduces risk, extends the life of the property, makes the property more marketable, and contributes to the property's value. Therefore, property managers should create thorough and efficient maintenance operations.

Maintenance involves the daily activities required to ensure that a building, its equipment, and its systems function properly. This ensures safe operations and meets the needs of tenants and other building stakeholders. Key components of maintenance operations include maintenance personnel, type of maintenance, maintenance planning, and maintenance implementation.

This lesson will discuss methods for effectively maintaining properties. Discussed are ways to develop and implement procedures for maintaining properties to increase profitability.

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