HAPPY E.
DOS SANTOS
REM 132
PROPERTY MANAGEMENT CLASS
SIR ELWYN BRIAN JAVIER
August 13, 2019
PROPERTY MANAGEMENT
1. Real estate specialization
2. Need for skilled manager due to property complex (?)
3. Oversight of property
SCOPE OF PROPERTIES HANDLED IN PROPERTY MANAGEMENT
1. Single family homes
2. Condominiums
3. Townhomes
4. Duplex
5. Apartment buildings
6. Mix use
SEGMENTS OF PROJECTS
1. Economic
2. Affordable
3. Mid-income
4. Up-scale
5. Luxury
REAL ESTATE MANAGEMENT ORGANIZATION KEY FACTORS
1. Linking mechanism and services
2. Monitoring of processes
3. Appropriate skills and competencies
CHALLENGES OF A PROPERTY MANAGER
1. Difficult tenants
2. Long hours of work
3. Need for emergency capital
4. Potential liability
Property Manager
Hired to handle the daily operations of a real estate investment
RESPONSIBILITIES: (TPLRRR)
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. PREVENTIVE MAINTENANCE REPAIRS
4. LANDLORD – TENANT LAW
Handle security deposits
Terminate a lease
Evict a tenant
5. RESPONSIBLE FOR SUPERVISING
Other employer (concierge, security)
Vacant properties
6. RESPONSIBLE FOR MANAGING THE BUDGETS / MAINTAINING RECORDS
Operating budget
Property records
PROPERTY MANAGEMENT SPECIALIST OPPORTUNITIES
1. Leasing
2. Asset
3. Corporate property management
4. Association management
5. Housing program management
6. Office buildings
CONSIDERATIONS OF PROPERTY MANAGERS
1. Owner’s objectives
2. Competitive property market – local and regional
3. Market indicators – occupancy and 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 caoe, non-core and Facility Management
RELATIONSHIP TO:
1. Core business: Business strategy, objective, plan and process
2. Non-core business – support services, ICT infrastructure
3. Define facility management Service scope and delivery, resources, sourcing model
FACILITY MANAGEMENT BASIC PLAN
1. Develop facility management strategy
Strategic analysis, solution development and strategy implementation
2. Determine sourcing model
In-source, out-source, co-sourcse
3. Procure Services
Pre-qualification
Request for proposal / letter / tender
Tendering
4. Deliver services
Mobilization
Contact management
Transition
5. Management performance
Service review
Performance requirement
Bench marking
6. Space Management
Process of planning space requirements
Identify weakness, allocations of current necessary space to the clients
Monitoring and identify stage problems
INTELLECTUAL PROPERTY
Safeguard creators and producers of intellectual goods and services
Includes:
1. Literary, artistic and scientific work
2. Performances
3. Inventions in all fields of human endeavor
WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)
Assists applicants to seeking patent protection internationally for their inventions
Self-funding agency of UN
END USER EXPERIENCES
Customers are expected by facility management
Examples – Airports, colleges
VALUE FOR MONEY
Term long used to express the relationship between the cost of a good or a service and
its quality or performance
Phases in the facility life cycle
DESIGN
CONSTRUCT
TEST AND COMMISSION
START UP
OPERATE
TRANSITION OF SERVICE DELIVERY
1. Moving to out-sourcing
2. Changing the out-sourcing model
3. Reverting to in-sourcing
4. In-sourcing for the first time
OFFSHORING
Ways of extracting cost savings from operations
Business is transferred to a location without lower operating costs
Preventive maintenance concept
Examble: Air-conditioning
