DC Property Managers Study Guide (Latest
Update) Simple and Easy to Understand
(100% Correct Solutions) 2024
Management Plan
Assists the owner in meeting their goals while maximizing the property's value and return. The plan
describes in detail the subject property's current use along with it's physical condition, fiscal projections,
and operational issues (includes an analysis of the market regional & neighborhood).
Organizational and educational programs available to assist in enhancing the property manager's
knowledge, identifying resources to resolve issues, and expanding their business network.
Institute of Real Estate Management (IREM), National Association of Realtors (NAR), Greater Capital
Area Association of Realtors (GCARR), building Owners & Managers Association (BOMA), National
Association of Real Estate Brokers, International Council of Shopping Centers (ICSC), and National
Property Management Association.
Market Analysis
Focuses on regional and neighborhood evaluations. Includes demographic conditions, geographic
features, governmental prospective, existing real estate supply, future developments, and
tenant/resident demand
Market Analysis & Competitive Property Analysis helps to.....
Identify the subject property's strengths and weaknesses
The Highest & Best Use
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,When the property manager considers alternatives to improve the property's weaknesses or further
enhance its strengths to improve overall economic performance.
Analysis of Alternative
Looks at the theoretical costs and corresponding increase in rents by making different improvements,
even property's redevelopment.
When determining the best use of property, alternatives to consider are.........
Rehabilitate without altering its existing use, Modernize by updating finishes (more efficient
equipment), Change the Use of building (including conversion), or Conversion to a condominium m
ownership structure.
Capital Expenditures
Projects that help extend the property's life.
Physical Obsolescene
is characterized as a condition of aging (i.e. wear & tear) or deferred maintenance. Examples are worn
carpet, peeling paint, a leaking roof, or dead landscaping
Functional Obsolescene
is characterized by old or outdated designs or building systems.
Economic Obsolesence
Represents a loss in value due to outside forces (i.e. location, market conditions). Examples would be an
office building, locates in a small town, where the major employer closes.
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, Investment Value
A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Loyalty to client, confidentiality, accurate accounting & reporting, protection of owner's funds, conflicts
of interest, and compliance with law regulations.
An owner can be directly affected by manager's.....
Improper handling of evictions, unlawful rent collections, failure to return security deposits, not
maintaining proper compliance with the Rental Accommodations Division (RAD)
The Management Agreement
is a formal and binding contract that establishes the authority and responsibilities that a manager has on
behalf of the owner.
Ask for various Exams or Study materials from
()
Update) Simple and Easy to Understand
(100% Correct Solutions) 2024
Management Plan
Assists the owner in meeting their goals while maximizing the property's value and return. The plan
describes in detail the subject property's current use along with it's physical condition, fiscal projections,
and operational issues (includes an analysis of the market regional & neighborhood).
Organizational and educational programs available to assist in enhancing the property manager's
knowledge, identifying resources to resolve issues, and expanding their business network.
Institute of Real Estate Management (IREM), National Association of Realtors (NAR), Greater Capital
Area Association of Realtors (GCARR), building Owners & Managers Association (BOMA), National
Association of Real Estate Brokers, International Council of Shopping Centers (ICSC), and National
Property Management Association.
Market Analysis
Focuses on regional and neighborhood evaluations. Includes demographic conditions, geographic
features, governmental prospective, existing real estate supply, future developments, and
tenant/resident demand
Market Analysis & Competitive Property Analysis helps to.....
Identify the subject property's strengths and weaknesses
The Highest & Best Use
Ask for various Exams or Study materials from
()
,When the property manager considers alternatives to improve the property's weaknesses or further
enhance its strengths to improve overall economic performance.
Analysis of Alternative
Looks at the theoretical costs and corresponding increase in rents by making different improvements,
even property's redevelopment.
When determining the best use of property, alternatives to consider are.........
Rehabilitate without altering its existing use, Modernize by updating finishes (more efficient
equipment), Change the Use of building (including conversion), or Conversion to a condominium m
ownership structure.
Capital Expenditures
Projects that help extend the property's life.
Physical Obsolescene
is characterized as a condition of aging (i.e. wear & tear) or deferred maintenance. Examples are worn
carpet, peeling paint, a leaking roof, or dead landscaping
Functional Obsolescene
is characterized by old or outdated designs or building systems.
Economic Obsolesence
Represents a loss in value due to outside forces (i.e. location, market conditions). Examples would be an
office building, locates in a small town, where the major employer closes.
Ask for various Exams or Study materials from
()
, Investment Value
A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Loyalty to client, confidentiality, accurate accounting & reporting, protection of owner's funds, conflicts
of interest, and compliance with law regulations.
An owner can be directly affected by manager's.....
Improper handling of evictions, unlawful rent collections, failure to return security deposits, not
maintaining proper compliance with the Rental Accommodations Division (RAD)
The Management Agreement
is a formal and binding contract that establishes the authority and responsibilities that a manager has on
behalf of the owner.
Ask for various Exams or Study materials from
()
