PRINCIPALS OF REAL ESTATE MANAGEMENT

Question 1

name the 4 types of real estate management

Answer 1

Portfolio Management

Asset Management

Property Management

Facilities Management

Corporate Real Estate Management (CREM)

Question 2

LIST 2 tenant orientated management

Answer 2

facilities management

corporate real estate management

Question 3

define property management and examples of functions

Answer 3

functions concerned with looking after buildings, The extent of and responsibility management between LL and T depending on terms of lease

examples:
- collection of rents
- payment of outgoings
- maintenance inc repair
- provision of services

Question 4

role of property manager

Answer 4

• maintain effective liaison with assigned clients and tenants
• inspection of properties at regular and agreed intervals
• supervise credit control of clients accounts section
• preparation of schedule of dilapidations and conditions
• implementation of seerc

Question 5

role of property portfolio management

Answer 5

• decisions made in respect of achieving the maximum benefit for the owners
• regard the effect on an entire portfolio rather an an individual property

Question 6

define property portfolio management

Answer 6

unified management of group of properties which are held in one ownership

Question 7

define property asset management

Answer 7

comprehensive form of management, retain cash proceeds or transfer investment pending an expected opportunity reinvesting on more favourable terms

Question 8

role of property asset management

Answer 8

primary objective is to maximise overall financial performance
though means of:
1.Drafting and agreeing property management strategies and
policies with investment partner and client representatives

2.Maximise growth in property performance at rent review
and lease renewal.

3.Overall responsibility for ensuring the timely service of all
notices

Question 9

define Corporate Real Estate
Management

Answer 9

Stapleton’s (p.297)
real estate held for operational purposes, ancillary to the main purpose of a business or organisation

Question 10

role of Corporate Real Estate
Management

Answer 10

1.concerned with the strategic planning, acquisition, management, and administration of real property on behalf of a company

2. seek to contain operational costs whilst providing a suitable working and operational environment, having regard to the needs of the business or organisation
3. The primary concern of CREM is to establish and maintain a close match between an organisation’s business and property strategies

Question 11

define Facilities Management

Answer 11

For a business occupying one or more buildings, the co-
ordination or many specialist functions to create the optimum working environment for
the purposes of the business

Question 12

role of Facilities Management

Answer 12

• manages the air conditioning plant
• building services
• car parking, security
• cleaning staff
• fire alarm system
• day to day maintenance
• PAT Testing
• Risk Assessments

Question 13

positive management

Answer 13

• attitude of mind than
  just the effective exercise of suitably approved procedures

Question 14

role of positive management

Answer 14

• looking for opportunities
  to surrender & renew
• sale & leaseback
• acquire
• dispose
• enfranchise
• re-gear finances
• develop property
• realise marriage value

Question 15

record keeping the ‘terrier’

Answer 15

reference system giving up-to-date system giving up-to-date details of each property details of each property

i.e
- owner tenants
- rents
- repairing liability
- insurance cover
- rent reviews
- service charge
- rent reviews

Question 16

list the 4 documents kept for each unit of management

Answer 16

Tenant File: a file should be kept for each tenant
Tenant File: a file should be kept for each tenant(correspondence, credit reports, etc).

Survey File: including building survey, floor plans, details of Survey File: including building survey, floor plans, details of
construction, P&M, M&E, wayleaves, easements, rights of
light, photographs, etc.)

Title File: title deeds, lease, synopsis, solicitor’s lease
report, agreement for lease, collateral warranties, collateral warranties, etc.

Insurance File: policy documents, reinstatement valuations.