Commercial real estate as a recurring source of income is only as good as it is managed. Well managed properties not only provide stable income but also hold their underlying value.
Management of commercial real estate is mostly outsourced to third parties. Management agreements vary widely according to the type of property managed – official, retail, multi-family, etc.
This program provides a practical guide to the types of property management agreements, varying fee arrangements, defining the scope of a manager's duties, rent collection and operational controls, allocating risk and liability, and much more.
- Property management agreements for office and multi-family properties
- Defining scope of manager's duties and responsibilities
- Understanding management fee alternatives
- Collection of rent and handling of funds
- Insurance, liability and indemnity issues for manager and property owner
- Operating decisions, controls, termination, and sale of property