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BACHELOR OF SCIENCE IN REAL ESTATE MANAGEMENT

PROPERTY MANAGEMENT SYSTEM

Property Management
• Real Estate Specialization
• Need for Skilled manager due to property complexity.
• Oversight of property

Scope of Properties handled in Property Management


• Single family houses
• Condominiums
• Townhomes
• Duplex
• Apartment buildings
• Mix use

Segments of Projects:
1. Economic 3. Mid-income 5. Luxury
2. Affordable 4. Upscale

Real Estate Management Organization Key factors


• Linking mechanism and services
• Monitoring of processes
• Appropriate skills and competencies

Property Manager
• Hired to handle the daily operations of a real estate investment
• Responsibility
1. Rent
 Setting Rent
 Collecting Rent
 Adjusting Rent
2. Tenants
 Finding Tenants
 Screening Tenants
 Handling Leases
 Handling complaints / emergencies
 Handling move outs
 Dealing with evictions
3. Maintenance and repairs
 Preventive maintenance
 Repair
4. Landlord – Tenant Law
1
 Handle security deposits
 Terminate a lease
 Evict a tenant
5. Responsible for supervising
 Other employers (Concierge, Security)
 Vacant properties
6. Responsible for managing the budgets / maintaining records
 Operating budget
 Property records

Property Management Specialist opportunities


• Leasing
• Asset
• Corporate property management
• Association management
• Housing program management
• Office buildings

Considerations of Property Managers


1. Owner’s objectives
2. Competitive property market Local & Regional
3. Market Indicators  Occupancy & Vacancy rate
4. Revenue source
5. Projected expense

Facility Management
• A profession that encompasses multiple disciplines to ensure functionality of the built environment by
integrating people, places, process and technology
- International Facility Management Association

Inter-relationship Core, Non-core and Facility management


1. Core business: Business strategy, objective, plan and process.
2. Non-core business Support services, ICT infrastructure
3. Define facility management: Service scope & delivery, resources, sourcing model

Facility Management basic plan


1.) Develop facility management strategy
 Strategic analysis, Solution development and strategy implementation.
2.) Determine sourcing model
 Insource, Outsource, Co-source
3.) Procure services
 Prequalification
 Request for proposal / tender
2
 Tendering
4.) Deliver services
 Mobilization  Contract management
 Transition
5.) Manage performance
 Service review
 Performance measurement
 Benchmarking

Space Management
• Process of planning space requirements, identify weakness, allocations of current necessary space to the
clients, monitoring and identify usage problems.

World Intellectual Property Organization (WIPO)


• Assists applicants in seeking patent protection internationally for their inventions
• Self-funding agency of U.N.

End user experience


• Customers are impacted by facility management
• E.g. Airport, Colleges

Value for Money


• Term long used to express the relationship between the cost of a good or service and it’s quality or
performance.

Challenges of a Property Manager


• Difficult tenants
• Long hours of work
• Need for emergency capital
• Potential liability