PRESENTATION ON: PROPERTY MANAGEMENT Presented by: Isaac Appiah & Ato Addei Mensah

PROPERTY MANAGEMENT IN PERSPECTIVE

DEFINITIONS: Property Management Scarrett (1983); An activity that seeks to control property interests with regard to the short and the long term objectives of the owner and the purpose for which the property is held: To negotiate rent reviews and lease renewal (including the management lease contracts); To oversee physical maintenance; To recognise opportunities for the development of potential; and To fulfil owner’s legal and social duties to the community There are many similar terms in the property industry which are often confused. The terms property management, asset management, maintenance management and facilities management are often used synonymously. However, these terms all describe different aspects of the property industry. It is therefore important that we distinguish between these terms.

The life cycle of a property can be illustrated as follows[1]:   Acquisitions These regulations were promulgated on 30 May 2005 and mainly regulate the issues that a local authority’s supply chain management policy should provide for with regard to the procurement of goods and services, including the acquisition of immovable property.   Various procurement processes are specified, coupled with specific thresholds. However, local authorities normally procure specific portions of land for specific purposes and a process of direct negotiations is followed. Regulation 36 allows for such deviations in case of a single supplier, or where it is practically impossible to follow the official procurement processes. [1] www.olao.od.nih.gov/GovernmentProperty/GeneralProperty

Responsibilities: The property Manager Responsibilities: The property Manager. Finding or evicting and generally dealing with tenants. Maintenance and landscaping to be synchronized with the owner's desires

The Property Manager also has a primary responsibility to the landlord and a secondary responsibility to the tenant

Professional designations Real Property Administrator (RPA) Facilities Management Administrator (FMA) Systems Maintenance Administrator (SMA) Systems Maintenance

Residential Management Professional (RMP) Master Property Manager (MPM) Certified Support Specialist (CSS) Certified Residential Management Company (CRMC)

References Career: Property Manager: A Day in the life of a Property Manager, The Princeton Review Publication, file:///C:/Users/user1/Desktop/Property%20Manager.htm. Date Published July 2001. Accessed on 30/07/2011.   Property Management: Property Management Guide, Los Angeles Property Management Publishing House, file:///C:/Users/user1/Desktop/Property%20Management%20Guide.htm. Date Published March 2000. Accessed 30/08/2011.   Read on Property Managers under Wikipedia, . Accessed 30/08/2011.

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