REAL 3890- Midterm Exam Guide - Comprehensive Notes for the exam ( 24 pages long!)
11 Oct 2017
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Document Summary
Managers: contact point & facilitator between tenants, owners & employees/contractors. Becoming increasingly professionalized: many properties few large owners (reits, pension funds, institutional investors, soon in ontario we will start to require certifications. Condo managers are starting to be certified (regulations & licenses) Certified property manager (cpm) by institute of real estate management. Managers are in different areas: office space, industrial, residential, retail, mixed use facilities, hotels & recreation properties (which have a different set of rules & different way of managing. Add value (or at least reduce costs) Can include tenant relations (address concerns, collect rent) Recommend & make improvements: especially green" improvements in today"s market. Overall, they achieve the objective of the owner! Note: if you are doing the job right it should be boring! Excitement means you have done something wrong, prioritized poorly or failed to properly assess risk. Don"t need to know how to fix everything but know who to call and what to expect from their.
