REP_OH.17

REP_OH.17 - CM 426 - REP 17 PROPERTY MANAGEMENT I. PROPERTY...

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CM 426 -- REP 17 PROPERTY MANAGEMENT I. PROPERTY MANAGEMENT -- THREE PRINCIPAL RESPONSIBILITIES A. FINANCIAL 1. MAINTAIN OWNER’S INVESTMENT 2. PRODUCES INCOME B. PHYSICAL 1. MAINTAIN STRUCTURES AND GROUNDS 2. REPAIRS C. ADMINISTRATIVE -- FILES AND RECORDS 1. BUDGET AND CONTROL 2. TENANTS 3. REPORT TO OWNER D. MOST STATES REQUIRE A REAL ESTATE BROKER’S LICENSE II. TYPES OF PROPERTIES TO MANAGE A. APARTMENTS B. CONDOMINIUMS C. HOMEOWNERS’ ASSOCIATIONS D. INVESTMENTS SYNDICATES, TRUSTS, ETC. E. MUST BE SURE OWNER’S EXPECTATIONS ARE REALISTIC -- MANAGING EXPECTATIONS III. MANAGEMENT AGREEMENT A. DESCRIPTION OF PROPERTY B. TIME PERIOD AGREEMENT COVERS C. DEFINE RESPONSIBILITIES OF MANAGER D. OWNER’S LONG-TERM AND SHORT-TERM GOALS E. EXTENT OF MANAGER’S AUTHORITY -- OWNER’S
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APPROVAL REQUIREMENTS F. PERIODIC REPORTING REQUIREMENTS TO OWNER G. FEE STRUCTURES 1. PERCENTAGE OF GROSS 2. FIXED FEE 3. COMBINATION 4. ALLOCATION OF COSTS (OVERHEAD) WHO PAYS WHAT? IV.
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REP_OH.17 - CM 426 - REP 17 PROPERTY MANAGEMENT I. PROPERTY...

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