Property Management 101

Or log in to access your purchased courses

Course Description: Property Management 101

3 hours Commissioner’s Standards CE

Overview

“Property Management 101” is an essential 3-hour course designed for real estate brokers and salespersons aiming to earn three credits in commissioner’s standards with a focus on property management. This course provides an in-depth understanding of the roles, responsibilities, and legal requirements of property management. It covers the differences in relationships between owners and managers versus brokers and sales agents, delves into relevant ARS statutes and commissioner standards, and offers guidance on navigating legal questions and ADRE audits effectively.

Objectives

To understand the foundational principles of property management and its significance in the real estate industry.
To identify the various types of property management and the legal considerations for each.
To learn about the roles and obligations of property managers, including handling security deposits, maintenance, and repairs.
To understand the process of ADRE audits and how to prepare for them.
To navigate through legal challenges and questions in property management using real-life scenarios.

Course Structure

Introduction to Property Management: Key terms, the importance of property management, and hiring the right property manager.
Is Property Management Right for You?: Self-assessment and planning for a career in property management.
Types of Property Management: Residential and commercial properties, ADA considerations, and service animals.
Property Manager Role and Obligations: Detailed exploration of a property manager’s job, including rent, tenants, maintenance, and legal knowledge.
Security Deposits and Landlord Obligations: Handling security deposits, landlord’s obligations to maintain premises, and legal requirements for fit premises.
Leasing and Tenant Obligations: Understanding lease agreements, landlord and tenant obligations, eviction processes, and myths surrounding evictions.
Auditing Facts and Checklists: Preparation for ADRE audits, trust account management, and reconciliation processes.
Using Technology to Prevent Rental Scams: Strategies to use Google Alerts and other tools to protect against rental scams.

Interactive Learning Components

True/False Section Reviews and Quizzes: To reinforce understanding and assess knowledge on key topics.
Legal Hotline Q&A: Insights into common legal queries in property management with practical solutions.
Section Exams: Comprehensive tests to evaluate the learning outcomes of each major section.

Who Should Attend

This course is ideal for current and aspiring property managers, real estate brokers, and salespersons interested in expanding their knowledge and skills in property management. It is also beneficial for those looking to understand the legal aspects of property management better.

Learning Outcomes

Upon completing this course, participants will:

Have a comprehensive understanding of property management fundamentals and legal frameworks.
Be prepared to effectively manage different types of properties while complying with legal standards.
Understand how to navigate the complexities of landlord-tenant laws, security deposits, and property maintenance.
Be equipped with the knowledge needed to prepare for and successfully pass ADRE audits.

Conclusion

“Property Management 101” offers a thorough exploration of the property management industry, providing the knowledge and tools necessary for real estate professionals to excel in this field. Through detailed instruction and practical insights, participants will be well-prepared to tackle the challenges and opportunities of property management while adhering to commissioner’s standards.