Session 1 Flashcards
What are some of the property management activities
- Leasing or offering to lease real estate or negotiating or approving or offering to negotiate or approve a lease or rental of real estate
- holding money received in connection with an activity referred to in subclause one
- Collecting or offering or attempting to collect on behalf of the owner or other person in charge of real estate money payable as rent for the use of the real estate
- Advertising negotiating or carrying out any other activity directly or indirectly for the purpose of furthering an activity referring to and any subclauses
What is property management
Property management is the administrative operation and maintenance of property according to the objectives of ownership
What does the acronym PMCBC stand for
Property management council of British Columbia
What does the acronym BOMA stand for
Building owners and managers Association
What does IREM stand for
Institute of real estate management
What does NAR stand for
National Association of realtors
What does SIOR stand for
Society of industrial office realtors
What does IFMA stand for
International facility management association
What does FMP stand for
Facility management professional
What are commonly used terms for managed properties
Single-family residential, multifamily residential, low rise, midrise, high-rise, row housing, cooperative housing, condominium, commercial, industrial
What is considered a low rise building
1 to 4 story buildings
What is considered a mid rise building
Buildings between five and nine stories
What is considered a high-rise building
six or more story buildings
What are forms of ownership
Individual investors, soul proprietorship, partnership and, Limited partnership, syndication, corporation, government ownership’s
What are the specializations withwithin property management
Professional fee management companies, asset management firms, in-house management, self-management
