MULTI-FAMILY / PRACTICAL APARTMENT MANAGEMENT
North Seattle College ~ Course RES 202
Fall Quarter, 2014
Instructor: Ellen Fix PCAM®
Thursday Evenings, 5:45 pm – 8:50 pm
Room # 3316, Instructional Bldg.
Course Description
Practical Apartment Management, IREM Course 202, is primarily an introductory course focusing on the application of the management process to multi-residential properties. It discusses in more detail, important functions of apartment management and familiarization of management terms, strategies and their application.
The course encompasses a general introduction, hiring and managing the property staff, property policies, leasing policies, the lease agreement, policies for residents, rent payments, maintaining the property, preparing a marketing campaign, advertising and promotion, converting prospects to residents, setting and raising rents, upgrading and renovation, insuring the property, budgeting and planning and computers, accounting and record keeping.
Introductory in nature, the course is designed to serve as a preliminary step toward the more specialized education provided by the Institute of Real Estate Management through North Seattle Community College for certification in the property management field.
Course Objectives
This course is designed to aid the student in gaining a better understanding of the rental management process related to the various financial aspects, leasing, occupancy and maintenance aspects of apartment management. Upon completion, the student will have a broad understanding of apartment management as it pertains to specific functions and property types.
The course is designed for the property manager, the site manager, the investor or any other rental property related personnel, to expand their general knowledge of the subject. It also gives the student valuable information necessary to make an informed decision as to a career path, an investment path and personal growth opportunities.
The class fulfills the Washington State thirty-clock hour requirement, which requires 100% attendance at all classes. It earns 3 college credits and may be counted as elective credit towards the IREM Certified Property Manager (CPM®) designation for IREM candidates.
Text: Practical Apartment Management, by Edward N. Kelley, CPM®, Institute of Real Estate Management, NEW 6th Edition) and is available in the student bookstore. The text is required for class and students are expected to read the assigned chapters before class.
Weekly Class Schedule – FALL 2014
Date Topics Covered Reading
Sept. 25 Introduction & Ownership Intro & Chapter 1
Management Chapter 2
Rental Housing Chapter 3
Oct. 2 Extra Features Chapter 4
Staffing Chapter 5
Business Decisions & Requirements Chapter 6
Oct. 9 Leasing Policies Chapter 7
Lease Agreement Chapter 8
Market Strategy Chapter 9
Oct. 16 Rental Tools Chapter 10
Internet Marketing Chapter 11
Attracting Prospects Chapter 12
MIDTERM EXAM
Oct. 23 Meet the Prospect, Rent the Apartment Chapter 13
Types of Residents Chapter 14
Setting and Adjusting Rents Chapter 15
Oct. 30 NO CLASS THIS WEEK
Nov. 6 Money Matters Chapter 16
Rent Collections and Guidelines Chapter 17
Resident Relations Chapter 18
Nov. 13 Length of Stay Chapter 19
Maintenance Chapter 20
Upgrading and Renovations Chapter 21
Nov. 20 Insurance Chapter 22
Budgeting and Planning Chapter 23
Accounting and Recordkeeping Chapter 24
Nov. 27 Thanksgiving ~ NO CLASS THIS WEEK
Dec. 4 FINAL EXAM
This schedule is subject to change.
All Classes will include lecture, discussion and may include Homework,
In-Class Exercises / Projects and Guest Speakers.
Course Requirements
Attendance is taken at each class and points are earned as part of the final grade. If you are a licensed realtor and are taking the class for 30 clock hours, your attendance is mandatory at each class to earn the full 30 clock hours for license renewal with the Dept. of Licensing. Each class session counts for 3.75 hours, for a total of 30 hours. Student may be able to make up one missed class by doing extra credit work. This and any other attendance issues must be discussed with the instructor.
Appropriate Participation is expected and encouraged of all students.
Homework is expected to be completed and turned in before each class.
The following will be needed: A Calculator, 2 Scantron forms; one for midterm and one for final exam, #2 pencils (no black pens). If you do NOT have a calculator, please notify the instructor.
Extra Credit work is available. Any student can complete an assigned task and use it to make up a missed class or add points to their final examination grade. Extra credit work is voluntary by student; the Instructor will determine the assignment and grade.
Examinations
There is a mid-term exam half way through Fall Quarter, consisting of 50 multiple-choice, true/false and math calculations. The final exam at the end of the quarter consists of 100 multiple-choice, true/false and math. Check the Weekly Schedule for the exact dates. The exams will cover in class lectures, class discussion, the text and Quizzes.
Extra credit points can be added to the final class score by completing specific projects as given by the Instructor. Quarterly grades will be available on-line to each student approximately one week after the final exam.
Instructor Availability & Access
Email:
Conferences/ Student meetings: By appointment, BEIT offices
The above schedule and procedures in this course are subject to change in the event of extenuating circumstances. From time-to-time the course may involve guest lecturers on selected topics.
Materials distributed in class may or may not be copyrighted. Please check with the instructor.
American Disability Act
If you need course adaptations or accommodation because of a disability; if you have emergency medical information to share with your instructor; or if you need special arrangements in case the building must be evacuated; please contact your instructor as soon as possible.
Chemical Sensitivities
Due to the increasing numbers of individuals developing chemical sensitivities and the increasing awareness of such conditions, everyone who attends this class is asked to refrain from wearing any fragrance or perfume. The greatest feasible efforts are taken to ensure a fresh air environment. Individuals who are unsure of the scope or importance of this policy should see the Associate Dean for additional information.
Classroom Etiquette In College
We all have certain rights, privileges, and responsibilities in the classroom, especially at the college level. These are important to us all. Every student has paid the fees to take this course and deserves courtesy from others and from the instructor to insure a positive learning environment. Please understand and respect the expectations that I have of my students:
Come to each class on-time. If you do show up late for class, enter with the minimum amount of noise. The class does not want to be interrupted. Full credit/points may not be given for portions of sessions missed. Turn off your cell phone.
Return from breaks on-time. Make your phone calls, use the rest rooms, stretch your legs, whatever, in a timely manner. Coffee, water, juice, etc. are OK in class. Please limit food to breaks.
Please remain seated during class. Please do not walk in and out of class at your whim. It disturbs others and gives the impression you don't respect the class.
Refrain from chatting with others during class. You are encouraged to raise your hand for any questions or subjects you want explained further.
If you have questions or comments on subjects presented, please raise your hand. Everyone will be heard. Many of you may have more experience in apartment mgmt. than other students. Some of the answers may seem very basic as this is an introductory class. For those of you who are more experienced in rental ownership or management, advanced terms and principles can be discussed during class if time allows and is beneficial to the discussion.
If you missed a class, the material will not be repeated in later classes. Handouts will be available.
If you miss an assignment, please see me or email me regarding an alternate assignment.
Turn all cell phones and pagers to vibrate or off; please NO audible pager or cell phone noise during class. Unless it's an emergency, make your calls during the break.
No voice or video recorders are allowed in class.
GRADING SYSTEM:
Attendance 45 (Points for each class attended)
Midterm Exam 50
Final Exam 100
Quizzes, Class exercises & project 45
Class participation & Discussion 30
Student Project 30
TOTAL POINTS AVAILABLE 300
DETERMINING STUDENT GRADES: The following table will determine your grade:
Grade Point % to Deceimal Grade Equivalent:
RES 202 Fall 2014 Page 6
96-100% = 4.0
95 = 3.9
94 = 3.8
93 = 3.7
92 = 3.6
91 = 3.5
90 = 3.4
89 = 3.3
88 = 3.2
87 = 3.1
86 = 3.0
85 = 2.9
84 = 2.8
83 = 2.7
82 = 2.6
81 = 2.5
80 = 2.4
79 = 2.3
78 = 2.2
77 = 2.1
76 = 2.0
75 = 1.9
74 = 1.8
73 = 1.7
72 = 1.6
71 = 1.5
70 = 1.4
69 = 1.3
68 = 1.2
67 = 1.1
66 = 1.0
65 = 0.9
64 = 0.8
63 = 0.7
62 = 0.0
RES 202 Fall 2014 Page 6
EXAM POLICY: Make-up exams are available with prior approval from the Instructor and must be taken at a mutually agreeable date, time and location. Any special needs should be discussed with the instructor. Homework and projects are due at the beginning of the next class. Note: Fractional scores will be rounded up to benefit student.
RES 202 Fall 2014 Page 6