Asset management is often described as the process of managing the financial performance of income-producing properties over the entire life-cycle of an investment from acquisitions to dispositions.  While generally accurate, this definition does not take into account the fact that many asset managers begin their work long before properties are purchased and remain involved until after they are sold.  This report sheds light on the various roles asset managers play in acquisitions and dispositions, as well as the ways in which they interact with property managers, to complete the following tasks on behalf of real estate investment management firms:

• Evaluate market conditions
• Vet underwriting assumptions
• Source investment opportunities
• Make disposition recommendations
• Prepare offering memorandums 
• Position properties for sale

The report digs deeper into several of the asset management functions identified in IREM’s research report "Real Estate Asset Management: A Process and a Profession", drawing upon ongoing contributions from practitioners representing real estate investment and service firms in the United States. It was written by Dustin C. Read, PhD/JD, as part of IREM’s Real Estate Asset Management Initiative. Dr. Read serves as an Assistant Professor of Property Management and Real Estate within the College of Liberal Arts and Human Sciences at Virginia Tech.

This report is part of IREM’s Real Estate Asset Management Initiative, which explores the points of connectivity between the property management and the asset management professions, as well as ways to help individuals working in both fields collaborate more effectively.

Copyright: 2017
Format: Soft cover; 34 pages
ISBN: 978-1-57203-260-6

Get ready to exceed your client’s expectations. Once you’ve finished this course, you’ll have what it takes to create and oversee quality, proactive maintenance operations that will minimize unexpected expenses and reduce risk. Register today and take your place among the industry’s high level practitioners known for delivering optimum property performance and maximizing value for the owner.

• Make a Plan. Learn to establish, execute and manage a preventive maintenance and risk management program, including budgetary considerations.
• What do you See? Realize the importance of proactive inspections that preserve the owner’s investment, and discover how to implement appropriate risk management strategies that reduce the potential for loss.
• Say What? Explore the ins and outs of major building equipment and systems. Speak knowledgably with maintenance personnel and contractors about how they work, what can go wrong, and guidelines and procedures to ensure proper maintenance and operation.
• The Lowdown on Maintenance Operations Management. Should you use contract workers? What factors should you consider? Learn how to select, manage and oversee the work of contractors. And learn to view your property’s operations from a 30,000-ft. level.

Take this course on its own or together with Budgeting, Cash Flow, and Reporting for Investment Real Estate (FIN402) with the Managing Maintenance & Budgeting Track.

Review the learning objectives of this course.

• Maintenance Forms and Checklists
• Before and After Disaster Strikes, 4th Edition
• Analyzing and Presenting Deep Retrofit Value course series
• IREM White Paper on Property Operations: Crisis Communications

Classroom: The classroom course is 2 days, including lunch and breaks. Typical course timeframe is 8:00 a.m. to 5:00 p.m. each day. Select a specific offering of the course from the dropdown menu above for exact dates and times. The course exam is taken online within 7 days after completing the course; instructions to access the exam are provided during the course.

By Rosemary Carcucci Goss, PhD and Dustin C. Reed, PhD/JD

Gathered by the research team at Virginia Tech, this report explores the trends and perceptions of leaders in the multifamily housing industry, which has become increasingly competitive throughout the years.

With growing demands from owners, property management companies are constantly seeking ways to maintain a competitive edge in response to the new challenges in the multifamily industry.

Some noteworthy findings among property management firms include:

• Establishing competitive pricing for the services they offer
• Enhancing the value of their brand
• Satisfying HR needs
• Maintaining a technological edge
• Avoiding potential conflicts of interest

Copyright: 2016
Format: PDF; 30 pages
ISBN: 978-1-57203-241-5

Get the most bang for your buck. Complete this course to learn how to position your rental property to succeed in your market. Discover what’s unique about marketing multifamily properties, learn what it takes maximize the value of the property, meet owner’s goals, and more effectively attract and retain tenants.

Register today and start dominating the marketplace.

• See the Big Picture. Understand the impact of business cycles on supply and demand, and how economics play a role in marketing and leasing.
• Take a Look Around. Learn to analyze the market including neighborhood and regional demographics, subject property and competition analysis, and rent setting strategies
• Position Your Property. Want to hit your target audience? Develop a marketing mindset and learn to incorporate advertising, public relations, social media, and analytics.
• Maximize Your People. Understand what it takes to run an effective leasing office, and the role that staff organization, communication, and incentives play in attracting new residents

Take this course on its own or together with Leading a Winning Property Management Team (HRS402) with the Managing People & Marketing/Multifamily Track.

Review the learning objectives of this course.

A standard calculator or smartphone calculator is recommended; Laptop optional.

• 10 Trends in Multifamily Property Management: Perceptions of Industry Leaders in a Time of Change
• Marketing Residential Properties: The Science and the Magic
• Practical Apartment Management, 6th Edition
• Leasing Forms and Checklists
• Comparison Grids App for iPhone and iPad

Classroom: The classroom course is 2 days, including lunch and breaks. Typical course timeframe is 8:00 a.m. to 5:00 p.m. each day. Select a specific offering of the course from the dropdown menu above for exact dates and times. The course exam is taken online within 7 days after completing the course; instructions to access the exam are provided during the course.

What does earning a designation mean for property managers? Higher compensation?  Bigger bonuses? Better benefits? According to the Profile and Compensation Study, CPM Edition, the answer to these questions is a resounding YES!

Analyze and compare the most critical characteristics of U.S. and Canadian compensation and benefit packages from detailed comparisons based on:

• Portfolio size
• Area of management specialization
• Level and type of experience
• Location
• Education

*Study based on a 2016 survey of IREM CPM Members

IREM, 2016
Research Report; PDF
54 pages

Recruiting, selecting, managing, and evaluating a property management team can be a challenge for even the most experienced leader. Lucky for you, this course will walk you through a day-in-the-life experience helping you to better understand your leadership strengths and areas for development so that you can maximize the productivity of your greatest asset – your team.

• Attract the Best. Determine and manage staffing requirements, develop a recruiting plan, and select and hire the best talent. 
• Take the Lead & Learn to Manage. Understand leading vs. managing and how to identify ways to create and promote a positive organizational culture. 
• Develop a Strong & Capable Staff.  Learn the difference between training and development, and how to use the proper coaching techniques and motivation tactics to boost career development.
• Review Performance Effectively.  Implement a proactive performance management system that allows for greater employee engagement and development while also addressing performance issues quickly and terminating employment when necessary.

Take this course on its own or together with a Marketing and Leasing Strategies course (MKL404, 405, 406) with the Managing People & Marketing Track - Multifamily or Managing People & Marketing Track – Office.”

Review the learning objectives of this course.

• What Property Managers Do: Real Estate Management Job Analysis
• Interviewing Job Candidates tutorial
• IREM White Paper: Building Teams
• Business Strategies for Real Estate Management Companies

Classroom: The classroom course is 2 days, including lunch and breaks. Typical course timeframe is 8:00 a.m. to 5:00 p.m. each day. Select a specific offering of the course from the dropdown menu above for exact dates and times. The course exam is taken online within 7 days after completing the course; instructions to access the exam are provided during the course.

The need for leaders at all levels is one of the top critical issues facing all organizations, as identified in an executive survey by Deloitte University Press. This is certainly true in the real estate industry as companies are shifting their focus from being performance driven to relationship driven. Real estate professionals are spending less time in day-to-day operations and more time leading the people who manage properties.

This Leadership Handbook for Real Estate Professionals provides the blueprint for both individuals and organizations to develop and harness the leadership skills required for success in today’s economy. It contains:

• A process that companies can use for cultivating leaders that bring out the best in their teams
• The leadership competencies as identified in What Property Managers Do: IREM Real Estate Job Analysis, based on a survey of more than 1,400 executives
• Assessment tools and other resources for implementing both organizational and individual leadership development plans

Leadership development is a very personal journey—this guide provides a map to leadership excellence.

Copyright: 2017
Format: Soft cover; 340 pages
ISBN: 978-1-57203-252-1

Running your own company is both rewarding and challenging, and should be pursued with careful consideration. In this course, you will explore key decision points on your path to starting a management company. You will also learn from experienced property management company owners on tips, best practices, and lessons learned. This course will help you to:

• Identify key success factors and other requirements for starting a property management company
• Determine your market niche
• Explore components of a business plan
• Determine strategies for business development
• Describe various types of management fees
• Recognize variables that affect company structure and staffing

Once you’ve completed your journey on the path to starting a management company, and reviewed the advice from property management company owners, you will have a solid understanding of key decision points for starting your own property management company.

Expected Duration

2 Hours

Ever wonder, or been asked, what do property managers really do?  Over 1,400 members of the real estate management profession helped answer that question. 

If you are curious about what those professional told us, you can find it in “What Property Managers Do: IREM Real Estate Management Job Analysis”. In addition to learning what real estate managers do, you will also find out what special knowledge they need to successfully perform their tasks and duties.

This comprehensive study breaks out task and knowledge requirements by a number of demographic categories, including:

• Primary job function (e.g., asset manager, regional manager, officer/director, site manager)
• Type of property managed (e.g., apartment, office building, condo, medical, retail)
• Organization type (e.g., REIT, full-service real estate firm) 
• Size of the company based on number of employees
• Years of experience in real estate management
• Country, state, province, and/or territory where the real estate professional works 

This information can be used by real estate management companies for:

• Recruitment
• Selection
• Performance appraisal
• Compensation
• Training and career development

Publication Date: 2016
Softcover, 103 pages
ISBN: 978-1-57203-238-5

Interested in discount pricing to include this course in your training program? Contact customcourse@irem.org

Downloadable ZIP Format.

A compilation of nearly 100 form templates that commercial property managers can use for their day-to-day business operations. Form templates in the commercial forms package cover multiple topics, including: 

MANAGEMENT
Management Take-Over/Termination
Management Reporting
Tenant Communications
Legal Compliance

FINANCE AND ACCOUNTING
Income and Expenses
Tenant Rent Records
Capital
Purchasing

LEASING DOCUMENTS
Leasing
Tenant Qualification
Tenant Move-In/Move-Out

MAINTENANCE
Cumulative Maintenance Records/Logs
Elevator Maintenance
General Maintenance Forms
Inspection Forms
Incident Reports
Tenant Improvement/Construction
 
MARKETING
MARKET ANALYSIS

“Fair Housing and Beyond” is offered jointly by the Institute of Real Estate Management (IREM) and the National Apartment Association Education Institute (NAAEI).

This exciting course:

• Uses video-delivered scenarios to demonstrate how real-life situations require critical thinking and prudent decision making
• Vividly shows the serious consequences of incorrect responses and provides coaching on how to avoid costly mistakes
• Delivers relevant knowledge of fair housing essentials – practical explanations of how federal, state, and local protected classes and barred discriminatory acts impact property operations

What you will learn:

• The federal protected classes and discrimination
• Statutes that govern protections from discrimination against disability at the federal level
• Fair housing as it relates to property operations

“Fair Housing and Beyond” is appropriate for IREM Members, NAA Members, and others in the housing management industry. Management company executives, property managers, site managers, leasing professionals, maintenance technicians, office administration staff, and vendors all must comply with fair housing law, and would benefit from attending this seminar.

Classroom: The classroom course is 1/2 day, including lunch and breaks. Typical course timeframe is 8:00 a.m. to 5:00 p.m. each day. Select a specific offering of the course from the dropdown menu above for exact dates and times. The course exam is taken online within 7 days after completing the course; instructions to access the exam are provided during the course.

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

Click Here to view the index.

View the table of contents

This book is the first of its kind to provide a comprehensive review of the lease negotiation process, elucidating the unique perspectives of both the landlord and the tenant. As veteran real estate management professionals with over 70 years combined experience in the field, the authors share the key components that go into each party’s role in the leasing process, from the initial stages through execution. Readers will gain tips for handling the toughest of negotiations in order to achieve a win-win outcome, and will learn about the following and more:

• All the players in the leasing process, including legal and support staff
• Landlord/tenant concessions and options that may be granted
• Maintaining a building’s value through the value of its leases
• Negotiating the brokerage agreement
• Knowing how market conditions affect the leasing deal
• Determining monthly rent and pass-through charges
• Elements found in a commercial lease document
• Successful communication strategies for negotiations

The Leasing Process: Landlord and Tenant Perspectives is a must-read publication for property managers, leasing agents, developers, investors, and tenants alike. It will improve the leasing process and negotiation outcomes for those involved in lease negotiations on any level.

IREM, 2008
Hardcover, 354 pages
ISBN: 978-1-57203-139-5

Sixteenth Edition

Click here to view the index.
Click here to view the table of contents

Entirely revised and updated, this publication highlights the more current changes within today's economy and their impact on real estate management, including savvy online marketing techniques through social media and other outlets, the impact of sustainability, as well as sound maintenance techniques to keep any property primed for occupancy. Along with covering the foundations of real estate and economics, this sixteenth edition also features more in-depth information on government and real estate, and the effects of the Great Recession.
Students will benefit by:

• Understanding the various property types and the unique challenges of managing each type
• Learning the critical role of the real estate manager and others on the management team
• Learning how to manage properties through management by plan and strong relations with property owners
• Applying innovative uses of social media as a staff recruiting and marketing tool
• Creating sound practices for the physical and financial management of property

IREM, 2011
ISBN-13: 978-1-57203-167-8
ISBN-10: 1-57203-167-0
Hardcover, 472 pages

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

Whether you’re starting your own firm or want to grow an established business, this third edition of Business Strategies for Real Estate Management Companies will show you how to attract and retain clients, market your business more aggressively, expand the services you offer, and boost your company’s profits in today’s changing business climate. This new edition also features six case studies of real estate management companies in their infancy. It provides an inside look into the trials and tribulations that you will likely encounter, along with tips and lessons learned.

Topics include a comprehensive look at:

• Hiring and retaining talent
• Understanding the dynamics of the manager and client relationship
• Creating a winning management proposal
• Taking over a management account
• Handling legal issues and ethical practices
• Managing and mitigating risks

Business Strategies for Real Estate Management Companies provides guidance and insights for many situations that, along with your personal experience and knowledge, can help you take advantage of the opportunities and meet the challenges of the present and future.

Publication Date: 2014
ePub, 492 print pages
ISBN-10: 1-57203-221-9
ISBN-13:  978-1-57203-221-7