Property Management Course at Medgar Evers College

COURSE DESCRIPTION:

The Real Estate Property Management Principles course is designed to provide knowledge and insight to industry professionals who manage various types of real estate. The course will break down the who, what, why, and when of the industry, and give students an understanding of the field using real life case studies and examples. Key topics will include defining the role of a property manager; best practices for working with vendors; tenant communications; budgeting and finances; the importance of protecting your investments, avoiding predatory lending, and preparing for disasters and emergencies; and other elements of the property management industry, including property management as a career path.

WHO SHOULD TAKE THIS COURSE:

Individuals who wish to enter or learn about property management to further their current career path and those who are already in the field and wish to enhance their knowledge and skill set.

MEETING DATES AND TIMES:

Twenty (20) hours total consisting of six (6) classes meeting three (3) times per week for two (2) weeks from 6:00pm to 8:00pm, 1 site visit (date and time TBA), and at-home assignments. Class dates are as follows:

• Monday, July 8
• Tuesday, July 9
• Wednesday, July 10
• Monday, July 15
• Tuesday, July 16
• Wednesday, July 17

COURSE OBJECTIVES:

Upon completion of the course, the student will know about:

• the fast-paced, ever-changing field of property management and the role of a property manager
• the different types of properties, how to identify them, the type of lease each requires, and how to manage each type of property
• working with vendors and related building employees, and how to hire suitable employees for a building
• budgeting and minor underwriting as well as vital financial terms, new ways of managing assets, and industry trends
• career paths available in the property management field and how to embark on or enhance each of them.
• education requirements, certification requirements, and designations in the industry.

COURSE METHODS:

The instructional methods to be used include group discussions of course topics, assigned readings, and instructor lectures. Visual aids will be used to emphasize important topics.

COURSE OUTLINE:

Property Management Principles

Topic 1: Understanding Basic Commercial Real Estate

• The Role of the Property Manager

• Types of Property Managers

o Residential Property Manager

o Commercial Property Manager

o Mixed Use Property Manager

• Duties & Responsibilities

o Residential Tenants and Leasing

o Commercial Tenants and Leasing of Vendors and Contractors

o Hiring Employees - Superintendents & Porters

• Education, Designations, and Licenses

o New York Real Estate License

o CPM, Certified Property Manager

o NYARM New York Accredited Realty Manager

o RAM, The Registered in Apartment Management

o ARM, Accredited Residential Manager

Topic 2: Building Finances and Budgeting

• Property Financial Basics

o Points of Financial Basics

• Understanding the Operating Budget

o Operating Budget

• Need to know Financial Terms

• NOI - Net Operating Income

• Cash Flow

• Net Income

Topic 3: Working as a Property Manager

• Landing a Property Management Job

• Time Management

• Attitude Towards the Property Management Industry

Topic 4: Protecting You Investment & Investing In Your Home

• Getting to Know Your Home

• Home Safety

• Saving Energy… and Money

• Preventive Maintenance and Repair

• Knowing Your Community

• Being a Good Neighbor

• Pride of Ownership

• Asset Building

Topic 5: Emergency and Disaster Preparedness

• Knowing Your Zone

• Developing a Communications Plan

• Staying Informed

• Evacuation Plan

• Insurance Coverage

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