Property management is a special category of real estate work. The term property management generally refers to the group of services which 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 owners 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 Agreements A Property Managers Typical DutiesInteracting with Tenants Property Management and Leases Real Estate Practice Lesson We will cover a property managers basic functions, including administrative duties, leasing practices and the managers 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 in this module presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this course, 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.
Upon completion of this course, the student will be able to:
- Describe the purpose and the various kinds of property management.
- Outline the managers legal relationship with the owner.
- Identify the day-to-day tasks of the property manager.
- Describe effective ways for a property manager to interact with tenants and potential tenants.
- Recognize the various types of leases and leasing procedures.
Property Management - Ohio Department of Commerce Division of Real Estate and Professional Licensing
End of Course Instructions
Once you have completed this continuing education course you return to your student profile page where your Certificate of Completion is available for printing. Please keep a copy of your certificate for your own records.
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