|
|
Based on:
Unknown author; Occupational Outlook Handbook 2004-2005 Edition; U.S. Bureau of Labor Statistics; Washington DC USA; 2004; Available http://www.bls.gov/oco/home.htm.
Londons estate agents Brinkleys estate agents sell property http://www.brinkleys.co.uk
London's Online Estate Agents http://www.brinkleysestateagent.com
|
|
Buildings can be homes, stores, or offices to those who use them. To businesses and investors, properly managed real estate is a potential source of income and profits, and, to homeowners, it is a way to preserve and enhance resale values. Property, real estate, and community association managers maintain and increase the value of real estate investments. Property and real estate managers oversee the performance of income-producing commercial or residential properties, and ensure that real estate investments achieve their expected revenues. Community association managers manage the common property and services of condominiums, cooperatives, and planned communities through their homeowners’ or community associations.
When owners of apartments, office buildings, or retail or industrial properties lack the time or expertise needed for day-to-day management of their real estate investments or homeowners’ associations, they often hire a property or real estate manager, or community association manager. The manager is employed either directly by the owner or indirectly through a contract with a property management firm.
|
|
Generally, property and real estate managers handle the financial operations of the property, ensuring that rent is collected and that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. In community associations, although homeowners pay no rent and pay their own real estate taxes and mortgages, community association managers must collect association dues. Some property managers, called asset property managers, supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, dates of lease expirations, and other matters.
Often, property managers negotiate contracts for janitorial, security, groundskeeping, trash removal, and other services. When contracts are awarded competitively, managers solicit bids from several contractors and recommend to the owners which bid to accept. They monitor the performance of contractors and investigate and resolve complaints from residents and tenants when services are not properly provided. Managers also purchase supplies and equipment for the property and make arrangements with specialists for repairs that cannot be handled by regular property maintenance staff.
In addition to these duties, property managers must understand and comply with provisions of legislation, such as the Americans with Disabilities Act and the Federal Fair Housing Amendment Act, as well as local fair housing laws. They must ensure that their renting and advertising practices are not discriminatory and that the property itself complies with all of the local, State, and Federal regulations and building codes.
Onsite property managers are responsible for day-to-day operations for one piece of property, such as an office building, shopping center, community association, or apartment complex. To ensure that the property is safe and properly maintained, onsite managers routinely inspect the grounds, facilities, and equipment to determine if repairs or maintenance are needed. They meet not only with current residents when handling requests for repairs or trying to resolve complaints, but also with prospective residents or tenants to show vacant apartments or office space. Onsite managers also are responsible for enforcing the terms of rental or lease agreements, such as rent collection, parking and pet restrictions, and termination-of-lease procedures. Other important duties of onsite managers include keeping accurate, up-to-date records of income and expenditures from property operations and submitting regular expense reports to the asset property manager or owners.
Property managers who do not work onsite act as a liaison between the onsite manager and the owner. They also market vacant space to prospective tenants through the use of a leasing agent or by advertising or other means, and establish rental rates in accordance with prevailing local economic conditions.
Some property and real estate managers, often called real estate asset managers, act as the property owners’ agent and adviser for the property. They plan and direct the purchase, development, and disposition of real estate on behalf of the business and investors. These managers focus on long-term strategic financial planning rather than on day-to-day operations of the property.
When deciding to acquire property, real estate asset managerstake several factors into consideration, such as property values, taxes, zoning, population growth, transportation, and traffic volume and patterns. Once a site is selected, they negotiate contracts for the purchase or lease of the property, securing the most beneficial terms. Real estate asset managers periodically review their company’s real estate holdings and identify properties that are no longer financially profitable. They then negotiate the sale of or terminate the lease on such properties.
Property and real estate managers who work for homebuilders, real estate developers, and land development companies acquire land and plan construction of shopping centers, houses, apartments, office buildings, or industrial parks. They negotiate with representatives of local governments, other businesses, community and public interest groups, and public utilities to eliminate obstacles to the development of land and to gain support for a planned project. It sometimes takes years to win approval for a project and, in the process, managers may have to modify plans for the project many times. Once cleared to proceed with a project, managers may help to negotiate short-term loans to finance the construction of the project, and later negotiate long-term permanent mortgage loans. They then help to choose, assist, and advise the architectural firms that draw up detailed plans and the construction companies that build the project.
In many respects, the work of community association managers parallels that of property managers. They collect monthly assessments, prepare financial statements and budgets, negotiate with contractors, and help to resolve complaints. In other respects, however, the work of these managers differs from that of other residential property and real estate managers. Community association managers interact on a daily basis with homeowners and other residents, rather than with renters. Hired by the volunteer board of directors of the association, they administer the daily affairs, and oversee the maintenance of property and facilities that the homeowners own and use jointly through the association. They also assist the board and owners in complying with association and government rules and regulations.
Some associations encompass thousands of homes and employ their own onsite staff and managers. In addition to administering the associations’ financial records and budget, managers may be responsible for the operation of community pools, golf courses, and community centers, and for the maintenance of landscaping and parking areas. Community association managers also may meet with the elected boards of directors to discuss and resolve legal issues or disputes that may affect the owners, as well as to review any proposed changes or improvements by homeowners to their properties, to make sure that they comply with community guidelines.
|
|
Many enter the occupation as onsite managers of apartment buildings, office complexes, or community associations, or as employees of property management firms or community association management companies. Forty-six percent of property, real estate, and community association managers in the United States are self-employed. Opportunities should be best for those with college degrees in business administration or related fields, as well as professional designations.
Property, real estate, and community association managers plan, organize, staff, and manage the real estate operations of businesses. Workers who perform similar functions in other fields include administrative services managers, education administrators, food service managers, lodging managers, medical and health services managers, real estate brokers and sales agents, and urban and regional planners.
|
|
Offices of most property, real estate, and community association managers are clean, modern, and well lighted. However, many managers spend a major portion of their time away from their desks. Onsite managers, in particular, may spend a large portion of their workday away from their office, visiting the building engineer, showing apartments, checking on the janitorial and maintenance staff, or investigating problems reported by tenants. Property and real estate managers frequently visit the properties they oversee, sometimes on a daily basis when contractors are doing major repair or renovation work. Real estate asset managers may spend time away from home while traveling to company real estate holdings or searching for properties to acquire.
Property, real estate, and community association managers often must attend evening meetings with residents, property owners, community association boards of directors, or civic groups. Not surprisingly, many managers put in long workweeks, especially before financial and tax reports are due. Some apartment managers are required to live in the apartment complexes where they work so that they are available to handle any emergency that occurs, even when they are off duty. They usually receive compensatory time off for working nights or weekends. Many apartment managers receive time off during the week so that they are available on weekends to show apartments to prospective residents.
|
|
Median annual earnings of salaried property, real estate, and community association managers were $36,880 in 2002. The middle 50 percent earned between $25,470 and $56,000 a year. The lowest 10 percent earned less than $17,450, and the highest 10 percent earned more than $86,650 a year. Median annual earnings of salaried property, real estate, and community association managers in the largest employing industries in 2002 were as follows:
Local government $50,340
Offices of real estate agents and brokers 37,820
Activities related to real estate 35,750
Lessors of real estate 31,190
Many resident apartment managers and onsite association managers receive the use of an apartment as part of their compensation package. Managers often are reimbursed for the use of their personal vehicles, and managers employed in land development often receive a small percentage of ownership in the projects that they develop.
|
|
Property, real estate, and community association managersheld about 293,000 jobs in 2002. Forty percent worked for real estate agents and brokers, lessors of real estate, or property management firms. Others worked for real estate development companies, government agencies that manage public buildings, and corporations with extensive holdings of commercial properties. Forty-six percent of property, real estate, and community association managers were self-employed.
|
|
Network Surveyors Ltd are one of the leading panel management & surveying firms in the UK
|
|
Many Estate agents tradionally charge 1.5%-2.25% commission in the UK But there is an ever growing rise on estate agents using private means of selling there home, I have been investigating these site's and I have encountered many problems with them in which I found it very hard to find them.
There are many Estate agents who only charge 0.5% sole agency fee, there reason being able to do so is:
How is 0.5% possible?
With house prices doubling in many areas over the past few years many estate agents are in reality earning double commission. Therefore you the home seller can end up paying twice the amount of commission for exactly the same service. That's why we only charge you 0.5% commission not the traditional 1.5%. We never compromise on service. We're simply keeping things fair. This Quote was taken from Brinkley's Estate agents.
London Estate Agent
|
|
Find more than 500 French properties for sale in Burgundy, the beautiful French country side.
E-Mail: ak696@hotmail.com
|
|
|