Fundamentals of Residential Property Management

Name: Fundamentals of Residential Property Management
Rating: 4.3 (735 reviews)

Understand the foundation of residential property management as a property manager or landlord

Bestseller

Created byJacqueline Carrington

Last updated 12/2020

English

What you'll learn

1. Understand the leasing process from showing the apartment to a resident moving in.
2. Understand the importance of preventative maintenance and handling ongoing maintenance requests.
3. Establish a foundation of policies and procedures to help manage property operations, residents and maintenance.
4. Understand the concept of Fair Housing Laws and how they affect the way you manage a property.
5. Develop the ability to manage and set goals for the various departments of property operations.
6. Understand the importance of service excellence in a property management career, business or operations of a property as a landlord.

Course content

9 sections • 54 lectures • 1h 36m total length

Introduction1:10
What is a Residential Property Manager?0:44
Manage day-to-day operations to preserve and increase the value of real estate investments, including tenant placement, maintenance requests, resident concerns, rent collection, and evictions.
What Skills are Needed to be a Property Manager?2:45
Master multitasking under pressure, prioritizing, delegating, and analyzing financials to preserve and grow property value, report to owners, and coordinate with residents, teams, and vendors using to-do lists.
What is a Typical Day Like for a Property Manager?4:23
Is Property Management a Viable Career Option?1:22
Overview of Course0:57

Introduction0:30
Understand leasing management by exploring the various aspects of leasing your property and why the leasing process acts as the money generator, increasing the owner's property value.
Your Role in the Leasing Process1:31
Prospect Management3:17
Walking Your Property1:24
Pricing Your Availability3:58
Explore dynamic pricing strategies for vacant apartments, including demand-based rate adjustments, daily or intraday changes, and considerations like comps, amenities, upgrades, and specials to maximize occupancy and revenue.
Marketing a Rent Ready Property2:45
The Application Process2:36
Security Deposits3:40
Owners set security deposits to cover post-move-out damages and protect assets, with amounts based on credit, residency conditions, and unit size. Pet deposits and optional renter's insurance further safeguard property.
The Move In3:10

Introduction0:19
Explore how policies and procedures guide efficient property management, providing a rule book for running your operations as a property manager.
Your Role in Managing Policies and Procedures1:17
The Importance of Establishing Policies and Procedures1:09
Leasing Policies and Procedures1:01
Operational Policies and Procedures2:44
Maintenance Policies and Procedures2:18
When Should You Deviate from Policies and Procedures?0:58

Introduction0:15
What is Fair Housing?1:12
Your Role in Fair Housing1:41
Maintain fair housing awareness as a property manager and lead your team with yearly training. Prevent violations by avoiding steering and discriminatory advertising or showings, and treat everyone the same.
The Importance of Fair Housing in Operations1:02
Learn how fair housing practices prevent discrimination, reduce legal risk, and protect operations by implementing consistent policies that ensure equal treatment for all prospects and residents.
How to Report Discrimination0:53

Introduction0:33
Your Role in Overall Operations2:08
Lead the property's overall operations by overseeing all departments, managing finances, budgeting, reporting, invoicing and payroll, ensuring compliance and fair housing training, and maintaining vendor relations and online reputation.
Leasing Goals2:20
Maintenance Goals2:41
Financial Goals1:20
Set annual budgets by comparing last year to expectations, pursue year-over-year growth through revenue increases and expense reductions, and conduct monthly variance reviews of spending and capital expenditures.
Service Goals1:32

Introduction0:23
Learn how data management and staff management drive effective property management, focusing on one-on-ones, team meetings, goal setting, and discipline.
Your Role in Staff Management1:00
One-on-Ones1:14
Weekly Team Meetings1:49
Training and Development2:02
Goal Setting1:33
Discipline1:57
Establish clear standards, discipline consistently with verbal, written actions and terminations when needed, while leading by example and applying equal, fair discipline to maintain team morale.

Requirements

Interest in property management as a career or business
Eagerness to learn

Description

The "Fundamentals of Residential Property Management" course is a peek into the world of property management. The course will specifically dive into residential property management and the various aspects of running an apartment complex or rental property as a property manager, landlord or for someone interested in starting a residential property management business.

Who this course is for:

Those interested in starting a property management career
Those interested in starting a property management business
Property managers
Real estate agents
Landlords

Fundamentals of Residential Property Management

What you'll learn

Explore related topics

Course content

Property Management Overview6 lectures • 11min

Leasing Management9 lectures • 23min

Maintenance Management8 lectures • 17min

Policies and Procedures7 lectures • 10min

Fair Housing Law5 lectures • 5min

Overall Operations6 lectures • 11min

Staff Management7 lectures • 10min

Service Excellence5 lectures • 9min

Review1 lecture • 1min

Requirements

Description

Who this course is for: