Property Managment

Developers who have been sitting on plans are now in a building mode. Increasing demand and limited supply has made for higher rents and attracted more investors in income-producing property, which encourages builders to build even more. All this is promising for qualified property managers. Property management is an increasingly popular career in the real estate profession as more and more real estate licensees are seeking to transition into the management of income-producing property. The stakes of the games are higher as are the responsibilities and rewards! As such, we've enhanced our section on the three basic real estate appraisal techniques: 1. Comparison (Market Data Approach) 2. Cost (Replacement Approach) 3. Capitalization (Income Approach) The most relevant approach used by appraisers in the valuing of income-producing property is the Income, Or Capitalization, Approach. As such, we've gone into more detail on that particular element, including new terms like Gross Rent Multiplier, Net Operating Income, and Capitalization Rate. We've updated the forms, as well as introduced new laws and regulations that affect property owners and managers, like pet regulation and fees, and the necessity for Homeowner's Associations (HOA) electric charging stations in some states. The Condominium Management section has also been enhanced as many condo HOA's are now hiring property managers to oversee the time-consuming duties HOA owner/board members no longer wish to take on.