2023-2024 Schoolcraft Catalog [ARCHIVED CATALOG]   
						Real Estate Property Management
						
					
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Real Estate Property Management involves the management of revenue-producing residential or commercial properties, including single-family homes, apartment complexes, office buildings, retail centers, medical facilities, and industrial warehouses. Property Management is a service industry in which property managers are expected to work closely with both the property owners and the residents of the property. 
The primary responsibilities include: 
	- Management of the physical property, including maintenance, operations, capital improvements, and sustainability
 
	- Human resources, including interacting with tenants, managing people who maintain and support the property’s operations, and working with property owners
 
	- Marketing and leasing, including developing marketing plans and strategy, advertising and preparing property for rent, showing the property, negotiating leases, and establishing rents
 
	- Financial management, including budgeting, accounting, financial and investment analysis, and financing
 
	- Legal and risk management, including insurance, emergency planning, government regulations, contracts, and leasing.
 
 
Property Management is a multifaceted industry that is becoming more reliant on technology to increase operating efficiencies, maximize revenue, and monitor property performance. Property managers use industry-specific programs to generate financial reports, and to track data related to marketing, maintenance, insurance, payments, and tenant services. 
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