PROPERTY MGMT
This professional is hired by an Owner to oversee a property
Who is a property manager?
Area demographics, local market analysis, property description
What are components in a listing package?
The best price to pay, contract terms to request, local politics
What are items a broker would counsel a developer on?
Market data, Cost Approach, Income Approach
What are the Approaches to Value?
These letters (CCIM) mean
What is Certified Commercial Investment Member?
Inspect the property, contract with subcontractors, handle property damage
What are activities performed by a property manager?
For sale signs, technology, sphere of influence
What are tools brokers use to find buyers?
To decide the best use of a property, a developer might perform this type of study
What is a feasibility study?
The cost to replace an improvement having the same or equivalent usefulness using similar materials at today's prices
What is Replacement Cost New (RCN)?
IREM stands for
What is Institute of Real Estate Management?
Handling of repairs, authority of the property mgr, compensation
What are provisions commonly included in a property management agreement?
This document is used to expose a commercial property
What is a marketing plan?
A Lender, an Attorney, an Appraiser
Who are members of a developer's team?
Utility expenses, real estate taxes, common area maintenance
What are operating expenses?
SIOR is
What is Society of Industrial & Office REALTORS®?
Brokers or agents that specialize in helping tenants find suitable space are referred to as
Who are tenant reps?
The question "Why pay more?" refers to this Approach to Value
What is the Market Data (Sales Comparison)?
A financial analysis of a property's income and expenses
What is a pro forma?
Value (V) =Net Operating Income (NOI) divided by Capitalization Rate (R)
What is the Capitalization method?
This tech tool gives you "eyes in the sky"
What is a drone?
The Institute of Real Estate Mgmt (IREM) awards this designation to members who complete required education and experience
What is the Certified Property Manager (CPM)?
This activity is commonly used to "sell" both you and a listing
What is networking, networking, networking?
Acquiring the land, deciding the property's highest and best use, finding financing, finding tenants
What are the components in every development?
Income ($100,000) minus
operating expenses (10,000)
What is Net Operating Income (NOI)?
This tech tool is commonly used to determine amortization
What is a financial calculator?