PROPERTY

MANAGEMENT
PROPERTY BASIC DEFINITION
• a thing or things belonging to someone;
possessions collectively.
• Possessions
• Things
• Belongings
• Goods
PROPERTY DEFINITION
• Property is anything that a person or business
has legal title over. 
• So-called property since having legal title to it
grants the owner certain enforceable rights.
• Typical examples of tangible property include
real estate, also known as real property,
vehicles, furniture, and equipment.
PROPERTY DEFINITION
• In economics and political economy, there
are three broad forms of property:
1. private property
2. public property
3. collective property 
(also called cooperative property).
 FRAMEWORK OF PROPERTY

BUILDER TENANT AGENT

INVESTO S/DEVEL S
S
RS/OWNE
OPERS
RS
PROPERTY MANAGEMENT
• This refers to the oversight of a property by a
property manager on behalf of the property owner.
• The owner generally pays the manager a fee.
• In exchange, the manager usually handles the day-to-
day management of the property, serving as a liaison
between the owner and any tenants.
• Property owners and managers typically enter into a
written contract specifying the duties to be
performed by the manager and the compensation to
be paid by the owner
PROPERTY MANAGEMENT
• Property owners may elect to use property managers
for a variety of reasons.
• If an owner has multiple rental units, he or she may
find it helpful to engage a property manager.
• An owner with limited time or an owner who does
not want to be involved in the day-to-day
management of a property may also benefit from the
assistance provided by a property management
company.
PROPERTY MANAGEMENT
• In addition, property managers can prove valuable to
owners that live far away from their rental
properties.
• Managing a property often involves a variety of
administrative tasks, including :
a. Handling property maintenance
b. Supervising building repairs
c. Ensuring outgoing expenses are paid
d. Marketing rental properties
e. Securing tenants
MANAGING PROPERTY
f. Negotiating rental lease agreements
g. Collecting rent
h. Addressing tenants complaints
i. Handle tenant evictions

• There are two types of property management:

1. Commercial property management

2. Residential property management
PROPERTY MANAGEMENT
• A commercial property manager supervises commercial
and industrial properties such as office buildings, retail
space or industrial and storage facilities.
• A residential property manager oversees rental housing,
such as apartment buildings or single-family homes.
• Some countries require commercial and residential
property management companies to adhere to certain
licensing requirements if they performing functions like
collecting rent, marketing properties or negotiating lease
agreements
PROPERTY MANAGEMENT
• A property owner seeking to hire a property
management company should take care to select a
company with experience.
• Discussion about the fee arrangments must be
made and negotiated.

• Types of Properties:
1. Residential Property
2. Commercial Property
RESIDENTIAL PROPERTY
• Residential properties are apartment units or houses
• This covers a broad range of housing types
• Duplexes are single buildings with two conjoining
units
• Multiplexes have three or more units
• Complexes may include a dozen units
• Owners of complexes vary widely and span the public
and private sectors
• Public housing may be managed by a local or
government agencies
RESIDENTIAL PROPERTY
• Student housing may be owned and managed by a
university or educational institution
• Other examples of collectives are military housing
• Cooperative facilities such as condominiums
resemble apartments in form, but each unit is
individually owned.
• These residential properties have an association that
addresses the common concerns of the owners,
including maintenance.
DUPLEX HOUSING
 DUPLEX HOUSING
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MULTIPLEXES HOUSING
 MULTIPLEXES HOUSING

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COMPLEXES HOUSING
DORMITORIES
CONDOMINIUMS
COMMON AREA FOR
CONDOMINIUMS
COMMERCIAL PROPERTY
• Commercial property is real estate intended for
use by for-progit businesses, such as office
complexes, shopping malls, service stations and
restaurants
• It may be purchased outright by a developer for
future projects or leased through a real estate
broker
• This type of property falls somewhere between
residential and industrial property
COMMERCIAL PROPERTY
• These may include:
1. Convention centers
2. Medical centers
3. Shopping centers
4. Malls
5. Warehouses
CONVENTION CENTER
ARENA
MEDICAL CENTER
MALLS
WAREHOUSE