Property Management

We will cover a property manager's essential functions, the manager's legal relationships with the owner and tenants, and how to construct a management agreement.

Includes: Certificate of Completion

Approval: #C118816

Credit Type: Elective

Credit: 4 Hour(s) | Language: English

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About this Course

The course approval number for this course will be available upon request

Property management is a special category of real estate work. The term "property management" generally refers to the group of services that an owner hires a professional property manager or management firm to perform. The quality of management directly affects the profitability of the property being managed. A skilled property manager thus protects the owner's capital investment in real estate and makes sure that the property generates profit. In many cases, property managers must be licensed real estate brokers.

This course includes the following lessons:

  • Introduction to Property Management
  • Management Plans and Management Agreements
  • A Property Manager's Typical Duties
  • Interacting with Tenants
  • Leases
  • Real Estate Practice

We will cover a property manager's basic functions, including administrative duties, leasing practices, and the manager's legal relationships with the owner and the tenants of the property. The course also discusses the way to construct a management agreement so that the manager and the owner clearly understand one another's roles. Licensees will benefit from understanding the various types of property management, as well as the duties that successful property managers must carry out.

The concluding lesson presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this module, he or she should try to develop a broad picture of property management and how it fits into the larger practice of real estate; the last lesson will help with this project by presenting comprehensive content questions, practice problems, and case studies.

Course Topics

Lesson 1: Introduction to Property Management

Lesson 2: Management Plans and Management Agreements

Lesson 3: A Property Manager's Typical Duties

Lesson 4: Interacting with Tenants

Lesson 5: Leases

Lesson 6: Real Estate Practice

Course Learning Objectives

Upon completion of this course, the student will be able to:

  • Learn about the duties when interacting with tenants
  • Learn the basic functions including administrative duties, leasing practices and the managers legal relationships with the owner and the tenants of the property.
  • Construct a management agreement so that the manager and the owner clearly understand one another's roles.
  • Understand the various types of property management, as well as the duties that successful property managers must carry out.

Regulatory Information

Name:Michigan Department of Licensing and Regulatory Michigan Real Estate Brokers and Salespersons
Phone:517-241-9295
Website URL:https://www.michigan.gov/lara/0,4601,7-154-61343_35414---,00.html
Email Address:bcslic@michigan.gov
Address:2501 Woodlake Circle
City:Okemos
State:MI
Zip:48464

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