CD10: Investment Property Practice and Management - 7.5 hours
~Content Detail~

Professional Property Management

• Trace the evolution of the property management profession
• Explain the different classifications of real property and the various property management challenges involved with each
• Describe the principles of economics that affect the property manager's decision-making process
• Understand the process of researching and creating a management plan

The Owner-Manager Relationship

• Explain the terms of a typical property management contract
• Describe the procedures involved in taking over a property
• Distinguish among the various types of owner-manager relationships

The Management Plan

• Understand that identifying and achieving the owner's objectives are the manager's primary objectives
• Describe the process of putting together a management plan

Leases and Tenant Issues

• Describe the basic leasehold estates
• Distinguish among the types of residential and commercial leases and describe the characteristics and uses of each
• Outline the fundamental components of a typical residential lease and the rights and responsibilities of both the lessor and lessee
• Understand the importance of state and local law in governing landlord-tenant relations

Managing Residential Properties

• Distinguish among the various types of residential property
• Understand the special challenges of managing condominiums and cooperatives
• Describe a cash flow analysis and how the manager assembles reports

Managing Tenant Safety Issues

• Understand the importance of the three-pronged, four-part strategy for dealing with emergency and life safety issues
• Identify the procedures involved in planning for emergencies
• Be aware of the importance of tenant security

Essential Elements

• Describe the advantages and disadvantages of investments in real estate
• Identify the four main categories of investment property and list the significant characteristics of each
• Define basic key terms and concepts in real estate investments
• Calculate rent per square foot and rent due on percentage leases

Financial Anatomy of Investment

• Understand and explain the basic financial elements involved in a real estate investment
• Define key terms in income and expense analysis
• Use your learned skills to perform a basic financial analysis of a real estate investment

Establishing Market Value and Return

• Identify the elements of value in a real estate investment
• Define key terms involved in the valuation process
• Perform the analysis necessary to establish an investment's value
• Perform the analysis necessary to determine return on investment

Listing and Marketing

• Describe the types of listings and compensation arrangements relevant to real estate investment transactions
• Define the key concepts and terms involved in marketing a real estate investment opportunity
• Identify marketing opportunities and develop a marketing plan for a real estate investment
• Describe and apply the skills required for closing an investment transaction

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