WY 3.0 hours Contracts and Leases - Course Syllabus
3.0 Elective Hours
Any real estate contracts and leasing course would not be complete without a firm grasp of the purpose of Property Management. The property manager acts as a liaison between the tenant and the landlord and has many duties from showing properties to collecting rent to evictions.
The property manager has a duty to the landlord to maximize their profits, financial accounting of the operations, and to ensure that the operations are within the constraints of the law and the lease agreements. A property manager holds a fiduciary capacity to the owner of the property. The property manager is an agent of the owner, and the owner is the principal under a management contract. The definition of fiduciary capacity is the relationship of utmost good faith and loyalty that an agent owes the principal.
The property manager also has a duty to the tenant to ensure that the tenant has a safe, habitable dwelling and the terms of the lease or rental agreement are carried out.
This course covers not only contracts and leases but the history and purpose of property management and details of the typical duties of a property manager. A discussion of available training and property management associations is also included. Landlord and tenant representation are also discussed.