RES 429 Week 5 complete

RES 429 Week 5 complete

DQ 1. Explain why you might want a management agreement when you have been hired to manage someone else’s property? What challenges would you face by not having a management agreement?

DQ 2. How does the property management budget and performance report enable the manager and owner to keep track of property performance? What is meant by lease concessions, and why do you suppose landlords offer these? Give at least two examples of lease concessions.

 RES 429 Week 5 Assignment Week 5 Property Management Plan Putting It All Together

The Property Management Plan should demonstrate understanding of the reading assignments as well as the implications of new knowledge. The eight- to ten-page paper should integrate readings, class discussions, work/life experiences, and what you have learned about property management. The focus of the Property Management Plan requires that you synthesize your learning and reflection in the context of the course outcomes.  

Prepare an eight- to ten-page paper (not including cover page and references) analyzing what you have learned about property management and create a plan for the management of a property that you own and manage. The property can be an apartment building, shopping center, or other commercial property of your choice.

The Property Management Plan, at a minimum, should include:

1. Part I: Introduction and Mission

 Your introduction should summarize the key aspects of the paper and your mission statement should include:

a. Property name and location

b. Company background

c. Name of company

d. Organizational structure (sole proprietor, LLC, corporation, etc.)—optional

 2. Part II: Property Management Plan

 In Weeks Two, Three, and Four you developed the integral parts of a property management plan. These combined papers will serve as Part II of your Final Project and should include:

a. Property Analysis (Week Two Assignment)

b. Maintenance Plan (Week Three Assignment)

c. Competitive Market Analysis (Week Four Assignment)

i. Summary of competitive buildings

ii. Regional analysis

iii. Neighborhood analysis

 3. Part III: Reflections

 Part III will include what you have learned about property management and how you will apply what you've learned professionally. Additionally, to finalize Part III, changes that you want to make and feedback from your instructor should be incorporated into Part II of the paper (Property Analysis, Maintenance Plan and Comparative Market Analysis).

You must use a minimum of seven scholarly sources and one source must be extracted from the following:

1. Journal articles (e.g., Journal of Property Management)

 The Property Management Plan is due on the last day of class and must be written in APA format, be at least eight to ten pages, double spaced, and in 12-point font. The paper must contain a cover page, introduction, and reference page. Do not count the cover page, introduction page, and reference page as part of the eight to ten pages.

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