2. Fundamentals of Property Management. (FPM)
The purpose of the course is to prepare an aspiring individual candidate to succeed in the field of Property Management.
An Overview of Real Estate Management: Provides background and context for this specialized profession.
Real Estate and Economics: Positions real estate management within the larger global economy.
Ownership Forms and Goals: Describes the ways investors can own real estate and their expectations for this type of investment.
Establishing Management Direction: Explores development of a management plan and the contractual arrangement established under a management agreement.
Financial Management: Outlines the property's sources of income and types of expenses and how they are accounted and reported to the owner.
Staffing: Looks at the personnel needs of managed properties and outlines strategies for hiring and retaining employees.
Maintenance and Structural Preservation: Discusses property inspections, work schedules, and different types of maintenance work.
The Cycle of Tenancy: Covers marketing and leasing, different types of leases, rent collection, and tenant retention strategies.
Managing Residential Property: Describes different types of housing and their management along with specific maintenance and insurance issues.
Managing Commercial Property: Explores property analysis, tenant selection, rent structures, and lease provisions used at office and retail properties and includes a brief overview of industrial and other types of commercial properties.
The Business of Real Estate Management: Addresses acquiring management business, setting management fees, and locating the management company office, as well as the range of other services that a firm can provide to its clients.