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Real Estate Management In The College Classroom

Comprehensive Solutions For Your Real Estate Management Programs And Courses

Today’s real estate manager is much more than someone who maintains the building and collects the rent. Since 1933, IREM has specialized in preparing our members to manage multi-million dollar assets, and we’re proud to offer our 80+ years of experience to today’s college students to help prepare them for the ever-evolving real estate management careers of today, tomorrow, and beyond. With thorough resources for students and full support for instructors, IREM makes teaching and learning about real estate management easier and more effective than ever.

Build Your Program With Our Tools

Whether you just need one textbook for your course, or full program support, IREM is there for you. Our materials can be the building blocks for a program that will engage and energize your students. We offer….

Text Books

  • IREM textbooks are current, cutting-edge guides that combine academic discipline with real-world application and cover everything students need to know.
  • Many texts are available in eBook form. Downloadable as a Zip file, they can be read on any e-reader or your PC. 
  • Whether you’re looking to teach students about managing residential or commercial properties, IREM has the timely, practical information you need.

Curriculum Support

For many of its textbooks, and at no cost to you, IREM provides curriculum support for instructors teaching real estate management courses.

Supplementary Materials

IREM offers a variety of classroom materials beyond traditional textbooks to enhance your curriculum, such as:

  • On-demand learning: Interactive tools and techniques that allow students to learn key competencies in quick, dynamic segments
  • A framework for incorporating the preparation of a management plan
  • Supplementary videos on topics like fair housing and real estate management ethics
  • Income/Expense Analysis® data that provides ten years of real property operating data, perfect for case studies
 

Curriculum Support Available!

Investment Real Estate: Finance and Asset Management

Investment Real Estate: Finance and Asset Management

Fred W. Prass, CPM

Successful real estate managers today understand that their responsibility extends far beyond the physical plant. They know that management is critical to preserving and enhancing the earning power of a real estate investment and ultimately the investment’s value… that the ability to prepare and successfully implement long-term operational and financial property management plans requires a keen grasp of real estate finance. Investment Real Estate: Finance & Asset Management reinforces what students must know to manage real estate as the investment and cautions them that those real estate managers who fail to do so will be reduced to operational specialists. Firmly grounded in financial theory and supported by practical application, this text provides students with the knowledge they will need to engage in meaningful conversations with property owners, lenders, and other real estate professionals.

View a sample chapter

Topics include:

  • Economics of Real Estate Investment
  • Accounting Basics
  • Cash Flow Analysis
  • Loan Analysis
  • Time Value of Money
  • Property Valuation
  • Lease Analysis

Request a Desk Copy

 

Business Strategies for Real Estate Management Companies, Third Edition

Alan A. Alexander, SCSM, and Richard F. Muhlebach, CPM, CRE, CSM, CRX, RPA

Many real estate students dream of being promoted to an executive position, or, better yet, start their own companies. Business Strategies for Real Estate Management Companies provides students with strategies and tactics to maximize opportunities and overcome the challenges encountered in owning a management company or running a real estate management division within a larger corporation. Emphasis is given to organizing an effective business structure, attracting and retaining clients, identifying the markets served, and boosting profits in a changing business climate. This new third edition contains six insightful case studies of real estate managers who started their companies and provides an inside look into the trials and tribulations they encountered, as well as the rewards. The case studies, coupled with practical and time-tested techniques and tips, make this text ideally suited to classroom use and a valuable resource for practitioners.

Request a Desk Copy

 

Field Guide for Practical Apartment Management

Field Guide for Practical Apartment Management will provide students with the tools and expertise they’ll need in their career as they begin to professionally manage the day-to-day aspects of residential properties, including: student housing; single family homes; condos; and affordable housing. It is a comprehensive guidebook that serves as an ongoing reference tool and provides many forms and checklists for immediate, on-the-job application.  Students will learn all aspects of managing multifamily properties such as:

  • Putting a team together and managing those responsible for the property’s success
  • The accounting and budgeting skills needed to meet their goals and objectives while providing a foundation for making day-to-day operating decisions
  • Reviewing maintenance and risk management plans, as well as the tools and techniques for conducting inspections to protect residents and assets 
  • Identifying appropriate marketing and leasing strategies and practices to find and retain residents

Request a Desk Copy

 




Curriculum Support Available!
Principles of Real Estate Management (REM201)

Principles of Real Estate Management, Sixteenth Edition

With the needs of students in mind, Principles of Real Estate Management highlights the changes of today’s economy and its impact on real estate management. Along with the foundations of real estate and economics, this publication gives the building-blocks of managing all major property types, including in-depth information on government and real estate, and the effects of the recent Great Recession.

Students will discover:

  • The various property types and the challenges of managing each type
  • The benefits of strong relations with property owners
  • Innovative applications of social media as a recruiting and marketing tool
Insights into the international perspective on real estate management

Request a Desk Copy

 





Curriculum Support Available!
Introduction to the Leasing Process (REM208)

The Leasing Process: Landlord and Tenant Perspectives

Richard F. Muhlebach, CPM, SCSM, CRE, RPA and Alan A. Alexander

The first of its kind, this book grants students practical insight into the leasing process from start to finish. Authored by veteran real estate management professionals, this text covers the unique perspective of both landlords and tenants, helping students understand the key components that go into each party’s role in the leasing process.

From understanding the market conditions to negotiating a brokerage agreement, students will get a comprehensive review of the leasing process. Topics covered include:

  • Determining monthly rent and pass-through charges
  • Landlord/tenant concessions and options that may be granted
  • Maintaining a building’s value through the value of its leases
  • Elements found in a commercial lease
  • Successful communication strategies for negotiations

Request a Desk Copy

 



Before and After Disaster Strikes: Developing an Emergency Procedures Manual, Fourth Edition

Provides students with the skills they need to create emergency procedures plans and manuals and understand how to address building emergencies like fire, power outages and crime. Before and After Disaster Strikes offers a suite of resources to guide students in establishing a baseline of preparedness for any property.

The fourth edition also includes a section dedicated to exploring and implementing business continuity practices into an emergency procedures plan, demonstrating to students the importance of business continuity principles, while also providing concrete considerations for how to implement these practices into the management business.

Request a Desk Copy

 





Curriculum Support Available!
Introduction to Commercial Property Management (REM206)

Managing and Leasing Commercial Properties

Alan A. Alexander, SCSM, and Richard F. Muhlebach, CPM, SCSM, CRE, RPA

Managing and Leasing Commercial Properties is the essential resource for any student studying commercial property management. In this must-read resource, students will be immersed in the entire spectrum of managing and leasing commercial properties. From office and industrial buildings to shopping centers and medical buildings, trust these experts to guide students through the intricacies of commercial property management.

Coverage includes:

  • Operational issues specific to various commercial property types
  • Techniques for marketing and leasing commercial properties
  • Lease negotiations specific to the challenges of each property type
  • The real estate manager’s role in the development process
  • Financial concepts and tools unique to managing commercial properties

Request a Desk Copy

 



Transformational Leadership in the New Age of Real Estate

Get a jump start on the skills needed to respond to the rapidly changing market conditions, competitive pressures, and shifting customers’ demands that real estate students can expect in the new age of real estate. Future success requires transformational leadership and potential leaders must be visionary and promote individual entrepreneurship.

Transformational Leadership in the New Age of Real Estate lays out the likely future of real estate, outlining important success factors needed for the decade ahead as well as a blueprint for developing the transformational leadership future real estate professionals will need to survive.

Request a Desk Copy

 

Best Practices: Real Estate Management Service

Start your students off on the right track with this set of simple, practical best practices developed by IREM. This 2014 edition is designed to guide and support readers in the practices needed to operate a real estate management company successfully and in a professional manner. A clear-cut resource containing 57 best practice statements that are organized around four categories:

•     The management company
•     Client relations
•     Management of the property
•     Tenant and resident relations

Request a Desk Copy

 





Curriculum Support Available!
Introduction to Community Association Management (REM207)

Community Associations: A Guide to Successful Management

Stephen R. Barber, CPM and Vickie Gaskill, CPM, ARM, MPM

With the help of this comprehensive text, students will gain valuable insight into the everyday challenges of community association management. From maintenance processes to legal and insurance issues, Community Associations: A Guide to Successful Management covers the essential relationship between association board members and management companies, including:

•     The history and future of common interest associations
•     The types of associations and their characteristics
•     How to work with boards and members
•     Crafting marketing strategies and promotional tools for association management services

Request a Desk Copy

 

Marketing Residential Properties: The Science and the Magic

Laurence C. Harmon, CPM, CRE and Kathleen M. Harmon, CPM, ARM

Bring residential marketing techniques alive with this valuable text designed for the novice residential real estate student. The first of its kind, this practical “how-to” guide covers residential marketing tactics for renting or selling residential properties. Easy-to-follow steps from expert authors are sure to engage students in the concepts key to crafting a successful marketing strategy.

Students will learn to:

  • Create and implement a residential marketing master plan
  • Act as a consultative leasing or selling agent
  • Capitalize on new opportunities as the residential market fluctuates
  • Train and coach a staff with new marketing techniques

Request a Desk Copy

 

A Practical Guide to Green Real Estate Management

John Klein, JDM Associates, with Alison Drucker and Kirk Vizzier

Energy efficiency has gone mainstream and those interested in a career in property management have few options but to adapt to this growing aspect of the industry. This IREM Key Report focuses on the practical benefits of sustainability, offering students practical examples and strategies for implementing green real estate management. Discover how reducing the impact of environmental resources gives property managers the opportunity to increase the market value of their properties, minimize operating costs and better respond to market demands. Available as an eBook only.

Understand:

  • Where the real estate industry is today regarding sustainability
  • How to assess properties for energy consumption
  • What can be done to minimize energy and water use in buildings
  • How conservation efforts will affect a property’s bottom line

Request a Desk Copy

 



Troubled Properties: A Practical Guide for Turning Around Trouble Assets

Lawrence W. Baiamonte, CPM; John N. Gallagher, CPM; Kenneth Goodacre, CPM; Kathleen M. Harmon, CPM, ARM; Richard F. Muhlebach, CPM

One of the greatest challenges that students will face as real estate managers is turning around a troubled property. While there is no one-size-fits-all template for managing troubled properties or working as a consultant, this Key Report will give your students solutions and a frame of reference for common challenges they may face when managing troubled properties. This book features in-depth case examples giving realistic scenarios, potential problems, and solutions for turning around troubled properties along with:

  • Economic downturns in relation to troubled propertie
  • Effective management operations
  • Use of vacant space for shopping centers
  • Refinancing or restructuring the loan
  • Receivership and foreclosure

Request a Desk Copy

 



Insider's Tips to Operating a Successful Property Management Company

Richard F. Muhlebach CPM, SCSM, CRE, RPA and Alan A. Alexander

Prepare students for a successful property management business with this insider report. Offering guidance on all aspects of developing a successful business, readers will take away an understanding of the sound infrastructure, strategic decision, and sufficient resources needed to achieve success. Available as an eBook only.

This IREM Key Report features detailed coverage of:

  • Strategies for successful staffing and company organization
  • Components of a management proposal
  • How to maintain ethical practices and professional standards
  • Steps for managing new accounts and expanding business profitability
  • Leasing commissions and other financial incentives

Request a Desk Copy

 



Managing Your Maintenance Programs: A Guide to Implementing Cost-Effective Plans for Properties

Brad J. Ashley, CPM; John N. Gallagher, CPM; Mary Jayne Howard, CPM; Richard F. Muhlebach CPM; and Lee A. Whitman, CPM

Managing Your Maintenance Programs emphasizes the importance of creating a maintenance management program in every aspect of managing, operating, marketing, and leasing a property.  Highlighting essential tactics and resolutions, students will discover how having a proactive plan in place to keep buildings well maintained will allow a property manager to address vital maintenance issues. This book is accompanied by a CD-ROM containing 49 sample maintenance forms.

Readers will learn:

  • How a maintenance management program will enhance
  • the cash flow of a building
  • How to establish good communication with residents or tenants regarding maintenance operations
  • How to develop operating and capital budgets for maintenance expenses
  • How to negotiate maintenance agreements with contractors
  • How to handle maintenance requests from tenants or resident

Request a Desk Copy

 

IREM Income/Expense Analysis® Reports and Online Lab

Perfect for classroom use in analysis and case studies, IREM’s annual Income/Expense Analysis reports offer your students the most clean and precise data from real properties across the country. With classroom access to 10 years of historical data, this is a powerful tool your students need to have in their arsenal. Presenting the latest benchmarking data for a variety of property types, Income/Expense Reports will help students develop skills to:
  • Trim waste and perfect an operating budget
  • Effectively use data to plan and make forecasting decisions
  • Project a properties future income and expenses down to the penny

Income/Expense Analysis®:  Office Buildings

Data from over 2,100 private-sector office buildings  •  Over 50 specific categories  •  Presented in dollars per square foot •  Arranged by building size, height, age and rental range  •  Major metropolitan and suburban markets studies  •  Revenue, expense, and vacancy trends  •  Energy consumption analysis, operating ratios and leasing commissions •  Includes medical office buildings •  Green survey data

Income/Expense Analysis®:  Conventional Apartments
Data from over 3,500 multi-family properties   •  Analysis of more than 124 metropolitan markets  •  Presented in dollars per square foot of rentable area  •  percentage of gross possible income  •  dollars per unit  •  Summarized by building type  •  Statistical breakdowns by age, size, and range  •  Analysis of vacancy rates and turnover trends  •  A variety of historical trend reports  •  Reports on Section 42 properties •  Concessions

Income/Expense Analysis®:  Shopping Centers
Data from more than 360 shopping centers  •  Income based on type of leases and anchors  •  Chart of accounts that provides over forty expense items  •  Data by age of center, size, regional areas, and national statistics   •  Tracks non-enclosed common spaces  •  Special reports: Leasing Fees; Expansion; Tenant Turnover; Type of Ownership; and Gross Sales Analysis

Income/Expense Analysis®:  Federally Assisted Apartments
Data from over 1,000 apartment buildings nationwide  •  Data on five federally assisted programs  •  HUD sections 202, 221(d)3, 236  •  Section 8  •  Rural Development section 515  •  Building and subsidy type reports within metropolitan reports  •  Tenant turnover and operating ratios

Expense Analysis®:  Condominiums, Cooperatives and Planned Unit Developments
Data from over 2,100 community associations nationwide  •  Metropolitan, regional and national breakdowns  •  Grouped according to association type and building type  •  Analysis of over 30 expense categories  •  Tracks utilities, maintenance, insurance, taxes, and amenities  •  Hundreds of operating breakdowns  •  Median monthly assessments  •  Amenity package analysis

 

IREM Leadership Whitepaper Series

Leadership skills can be the difference between a good career and a great career. Get students on the right track with the IREM Leadership Whitepaper series. This innovative series of white papers gives students the core competencies and best practices they need to become leaders in the real estate management industry.

SERIES TOPICS INCLUDE:
  • The Leadership Competency Model
  • Building Teams
  • Effective Communication
  • Critical Thinking
  • Conflict Management
  • Delegating Responsibility
  • Coaching and Developing Others
  • Building Relationships
  • Presentation Skills
  • Recruiting and Staffing
  • Evolution of Leadership
  • Negotiating
 

THE JOURNAL OF PROPERTY MANAGEMENT ( JPM )

Bring the real world into the classroom with the award-winning Journal of Property Management! Stay on top of legal issues, technology, and industry trends while learning about contemporary practices in marketing, operations, and business development. As IREM’s official publication, JPM addresses the latest issues facing real estate managers.
 

CAREERS IN REAL ESTATE MANAGEMENT

Introduce your students to an exciting career in real estate management. In this complimentary 32 page brochure developed by IREM and the IREM Foundation, they’ll discover the answers to common questions like:

  • What would I do on the job?
  • How do I prepare for career success?
  • How do I find a job?
  • How much can I expect to earn?
 

INTRODUCTION TO PROPERTY MANAGEMENT

Introduction to Property Management is a 3-hour, interactive online course that provides an in-depth overview of property management. The course will help students gain a thorough understanding of what property managers do, decide if a property management career is right for them, and help them create a professional development plan. Topics covered include the make-up of the property manager’s team, the skill sets necessary to succeed in the profession, and the employment and salary outlook for property managers.
 

PROGRAMS AND RESOURCES

Give your students a head start in the industry

IREM Student Essay Competition
To encourage excellence and promote scholarship in the field of real estate property and asset management, IREM and the IREM Foundation sponsor an annual writing competition for students. Any student enrolled in real estate or a related field is eligible to enter the competition.  The winning entrant receives a $500 cash award and an all-expenses paid trip to the IREM Fall Conference to accept the award.

The topic of the essay is announced January 1 of each year. Entries are due by June 1.

IREM Student of the Year Scholarship
The Student of the Year Scholarship recognizes a college or university student who has shown academic achievement and an interest in pursuing a career in real estate management. The scholarship recipient receives an all-expenses paid trip to attend the IREM Fall Conference. The scholarship is open to all full-time college and university students.

The deadline for entries June 1 of each year.

Internships and Job Shadowing
As part of its initiative to increase awareness of careers in real estate management and provide students with first-hand experience, IREM promotes job shadowing and internships to give students the opportunity to connect with practitioners in the field and gain real-world experience. To encourage IREM Members to participate in these activities, IREM offers An Employer’s Guide to Developing a Rewarding Internship Program in Real Estate Management and Job Shadow Tips for Participating Companies.

IREM Job Board
Students can find the perfect entry-level position leading to a career in real estate management on IREM’s national job board. Employers post jobs ranging from entry-level to senior management.

IREM Foundation Scholarships
Do you have students who are interested in continuing their education and earning a professional credential? The IREM Foundation offers scholarships to those who express an interest in earning one of IREM’s credentials. The scholarship is calculated using the member rate tuition and may be used for tuition only. Then recipients have the opportunity to attend up to 3 IREM courses – at a reduced tuition rate – that fulfill the requirement for earning the CPM designation, ARM certification, or ACoM certification.

IREM Student Clubs
Real estate clubs offer outstanding networking opportunities, not only with other students but also with industry professionals. Because student clubs can foster awareness of careers in real estate and property management, IREM encourages the formation of such clubs and supports those that gain recognition as IREM Student Clubs.

IREM Young Professionals
IREM, through its network of chapters throughout the United States, has a Young Professionals program that provides education and social networking opportunities in casual, progressive, and fun environments. Events are specifically created to bring together pre-career students and early career practitioners to learn more about the real estate management industry and about IREM in comfortable and informal settings.

 

ACADEMIC MEMBERSHIP

Access to the latest real estate resources is now easier than ever.

If you teach full-time or part-time at a college, community college, or university, you can become an IREM Academic Member for just $100 a year. You receive:

  • A free subscription to JPM – the industry’s leading journal for property managers
  • The opportunity to author JPM articles and other publications
  • Networking opportunities and professional visibility
  • Member discounts on publications, courses, and conferences
  • Free downloads and expert advice
  • Connections to other industry experts you can bring into your classroom
 

STUDENT MEMBERSHIP

Help your students build a career in real estate management

When students partner with IREM, they get a viable career partner that will grow with them and support them through every stage of their career. For only $50 (U.S.) or $60 (International), full-time students attending an accredited college or university can get full access to the tools and networking opportunities that will fast-track their careers in real estate management. The student membership period extends for 12 months or until date of graduation, whichever is longer, plus a year as an IREM Associate Member. Students receive:

  • A free subscription to JPM - the industry’s leading journal for real estate managers
  • Access IREM’s career center
  • Career assistance - find a job/internship
  • Networking and mentoring opportunities
  • Member discounts on publications, courses, and conferences
  • Free downloads and expert advice on
  • Connections through local IREM chapters
 

IREM CREDENTIALS

A lifelong investment in a property management career

Our credentials, known and trusted throughout the industry, are key to your students setting themselves apart from the pack, generating and retaining business, and securing higher compensation. A real estate degree could be the first step on the fast track to irem membership.

Students who graduate with an undergraduate or graduate degree with a major, minor, or concentration in real estate or property management from a regionally accredited college or university are eligible to fast track towards the CPM, ARM, or ACoM credentials and bypass many of the IREM education requirements for each. 

CPM     ARM     ACoM     IREM can work with you to offer CPM, ARM and ACoM exams through your college or university. Call us at (800) 837-0706 to learn more.

 

SUPPORT YOUR STUDENTS

Encourage a Rewarding Career in Real Estate Management

Real estate management incorporates both real property management and asset management. It is an ideal career choice for students who want to have their skills valued and their contributions recognized while having a meaningful impact on others and the world around them.

The real estate management industry is on the lookout for talented students seeking this kind of opportunity: students with attention to detail and the ability to communicate with a variety of people, students who are technologically savvy and challenge-seeking.

As an instructor, you can help your students navigate their way to a successful career in real estate management.

Why Real Estate Management?
Real estate management is a sophisticated business. Students will be attracted to the utilization of the latest technology to increase operating efficiencies, maximize revenue streams, and monitor property performance. It’s a career that offers a fast-paced ever-changing environment in which your students are certain to thrive.

Variety of Positions               
The work performed by real estate managers varies greatly depending on the position they hold, the type of organization or company they work for, and the type of real estate asset they manage. Real estate management offers a diverse arena of opportunities not found in other careers. With job opportunities at many levels, positions range from front-line site managers to company executives.  Primary responsibilities expand beyond just leasing and maintenance, but can also include marketing, human resources and financial management.

Specific real estate management jobs generally fall into these broad categories:

  • Site manager
  • Property manager
  • Regional manager
  • Asset manager
  • Management company executive

Competitive Compensation
Real estate management is a growing industry with top earning potential. According to annual studies conducted by CEL & Associates, median salary ranges from $55,700 for assistant property managers to $233,200 for top asset management executives in office or industrial positions.   In addition to base salary and bonus potential, prospective real estate managers can expect additional benefits like:

•     Health care benefits
•     Pension and 401(k) plans
•     Flextime
•     Housing allowance (occasionally provided to on-site multifamily property managers)
•     Membership in professional associations
•     Continued education and training
•     Participation in equity ownership of real estate or company ownership

Outstanding Employment Opportunities
Career opportunities for real estate managers are widespread.

Real estate managers are employed by owners of real estate – either directly by the property owner or indirectly through third-party management firms. Students pursuing a career in real estate management will find a wide range of employment opportunities not only from property management firms, but from corporations, government agencies, commercial banks and more.

For your students, entering the real estate industry now will afford them a wide range of job prospects. A rise in the nation’s stock of apartments and offices is expected to increase management positions. Plus, with the impending retirement of the Baby Boomer generation, projected job growth among real estate managers is predicted through 2022.

 

 

 

 

 

What Can You Do?
Because real estate management is competitive and increasingly complex, the future will demand exceptional performance from practitioners, including extensive, never-ending education. Earning a degree in real estate, business administration or finance will provide your students will a meaningful educational foundation in the field. Help your students stay on the path to success through education.

For most college graduates, the number one way to find employment is through networking. Continue to support students by encouraging participation in internship opportunities, young professional programs, and real estate clubs. Promote networking through participation in industry and community events, like IREM’s annual Fall Conference.

And, introduce your students to IREM. As the home for all industry professionals connected to real estate management, IREM engages and supports students who are preparing for this rewarding career. Students who are serious about starting a career in property management should start their relationship with IREM now by becoming Student Members.