by Brianna Crandall — October 6, 2014—The Institute of Real Estate Management (IREM), the affiliate of the National Association of REALTORS (NAR) serving both the multifamily and commercial sectors, has launched three new self-paced, online courses that focus on key areas of property management success: company management, finance and leadership. Modestly priced at $109 and only $89 for IREM Members, the highly interactive, one- to three-hour courses are: “Starting a Property Management Company,” Understanding Loss to Lease,” and “Delegating to Empower Your Team.”
“Starting a Property Management Company”
“Starting a Property Management Company” explores key decision points on the path to starting a property management company. It also provides tips, best practices, and lessons learned from experienced company owners. Among course takeaways, participants will learn to:
- Identify key success factors and other requirements for starting a company
- Explore components of a business plan and determine strategies for business development
- Understand various types of management fees
- Recognize variables that affect company structure and staff
“Starting a Property Management Company”
“Starting a Property Management Company” addresses how to calculate a property’s net rental income accounting for loss to lease based on the market. A case study walks through the pro forma statement from gross potential income through net rent revenue, fully accounting for loss to lease. Among course takeaways, participants will learn to:
- Define gross potential income and calculate loss to lease
- Differentiate between physical vacancy, economic vacancy, and collection loss
- Determine net rent revenue
“Delegating Power to Your Team”
“Delegating Power to Your Team” addresses a skill that managers often find difficult to master. Among course takeaways, participants will learn to:
- Identify the barriers to, and the key benefits of, delegation
- Assess the abilities of team members and develop the steps of the delegation process
- Evaluate team members’ effectiveness at handling delegated tasks
For more information and to register, visit IREM’s Self-Paced Online course listing. Participants completing a course have the option of taking an end-of-course assessment and receiving, if they pass, a verified Certificate of Completion. Those electing to skip the assessment will receive a Statement of Completion.
