ESM506 Applied Property Management II COURSE PARTICULARS COURSE INSTRUCTORS COURSE DESCRIPTION COURSE OBJECTIVES

Transcription

1 ESM506 Applied Property Management II COURSE PARTICULARS Course Code: ESM 506 Course Title: Applied Property Management II No. of Units: 3 Course Duration: Two hours of theory and one hour tutorial per week for 15 weeks. Status: Compulsory Course Address: esm506@gmail.com Course Webpage: Prerequisite: NIL COURSE INSTRUCTORS Dr. Ogunleye, M.B ESM Staff Offices, Dept. of Estate Management, Federal University of Technology, Akure, Nigeria. Phone: ogunleyedelem@yahoo.com COURSE DESCRIPTION The course covers topics like Leasing agreement, rent collections, insurance maintenance and other obligations. Conservation of property. Property Identification and feasibility studies. Management of residential commercial and industrial properties, selection of tenants; restrictive covenants, tenancy agreements and their termination. COURSE OBJECTIVES The objectives of this course are to: Develop in the student the ability to apply professional skills in rent collections, insurance, maintenance. And other property management obligations

2 Provide students with appropriate training in preparation of lease agreements such as: tenancy agreement and termination. Provide a broad knowledge in property management and in particular a specialized skill in the management of residential, commercial, and industrial properties. Prepare the students for project identification and preparation of feasibility studies as it relates to property management. Equip the student with understanding of maintenance of buildings Provide students with appropriate training in the acquisition of practical skills and technological proficiency necessary for effective property management. COURSE LEARNING OUTCOMES / COMPETENCIES Upon successful completion of this course, the student will be able to: (Knowledge based) Understand the property management process in rent collections, insurance, maintenance. and other property management obligations Understand the contents and types of leases and their termination. Property maintenance (Skills) Develop practical skill in the management of residential, commercial, and industrial properties. Carry out project identification and preparation of feasibility studies as it relates to property management. Acquire appropriate training in the acquisition of practical skills and technological proficiency necessary for effective property management. Prepare Lease Agreements Management of residential, commercial and industrial properties. Involve in maintenance practice GRADING SYSTEM FOR THE COURSE This course will be graded as follows: Class Attendance 5% Field Work 10% Assignments 10% Test 15% Final Examination 60% TOTAL 100%

3 GENERAL INSTRUCTIONS Attendance: It is expected that every student will be in class for lectures and also participate in all tutorials. Attendance records will be kept and used to determine each person s qualification to sit for the final examination. In case of illness or other unavoidable cause of absence, the student must communicate as soon as possible with the course instructor, indicating the reason for the absence. Academic Integrity: Violations of academic integrity, including dishonesty in assignments, test and examination are prohibited. You are not allowed to make copies of another person s work and submit it as your own; that is plagiarism. All cases of academic dishonesty will be reported to the University Management for appropriate sanctions in accordance with the guidelines for handling students misconduct as spelt out in the Students Handbook. Assignments and Group Work: Students are expected to submit assignments as scheduled. Late submission of assignment(s) is not allowed except under extenuating circumstances, for which a student has notified the instructor in advance. Code of Conduct in Lecture Rooms: Students should turn off their cell phones during lectures. Students are prohibited from engaging in other activities (such as texting, watching videos, etc.) during lectures. Food and drinks are not permitted in the lecture room. READING LIST 2 Emoh, F.I. (2004). Real Property Investment and Management, Akwa, Christon International Co. Ltd. 2 Estate Surveyor and Valuer. Journals of the Nigerian Institution of Estate Surveyors and Valuers 2 Lawal, M.I. (1995). Principles and Practice of Housing Management, Lagos, ILCO Books 2 NIESV News Letters and Publishers. 4 Nwankwo, P.C. (2004). Property Management Practice in Nigeria, Lagos, Pelin Limited. 4 Oluwole, A. (2001). The Law Real Property and Procedure, Ibadan, Brighter Star Publishers Nigeria Ltd. 4 Oyebanji, A.O. (2009). Principles of Property and Facility Management, Ibadan, Olu Oyebanji & Co. 2 Thorncroft, M. (1976). Principles of Estate Management; Estate Gazette Ltd; London, Tukman, B.N; Conducting Educational Research, New York, Harcourt Books, 1978.

4 5 Udechukwu C.E (2006). Introduction to Estate Management, Publisher Treem Nigeria Limited, Lagos. 274p. 1 Umeh, J.A. (1977). Feasibility and Viability Appraisal, Onibonoje, Ibadan 1 Stapleton, Tim (1994). Estate Management Practice, London, The Estate Gazette Limited Legend 1- Available in the University Library 2- Available in Departmental/School Libraries 3- Available on the Internet. 4- Available as Personal Collection 5- Available in local bookshops. COURSE OUTLINE Week Topic Remarks 1 Introduction and Course Overview During this first class, the expectation of the students from the course will also be 2 & 3 4, 5&6 Property Management Functions Planning Space Marketing Property Services and Selecting Tenants Conservation of Property Property Operations Collection of Rent, e.t.c Handling Complaints Accounting and Financial Records Insurance Taxes and Fees Leasing Contents and Practices Introduction Leases and Tenancies Major contents of a Lease Lease Format Types of Tenancy Determination of Tenancy or Lease 7 & 8 Management of Properties Residential Property Commercial Property Industrial Property documented. Students will be taught on all aspects of property management functions with case studies Students will be taught on the areas listed and specimen copies of lease documents such as Deed of Sublease, Certificate of Statutory Right of Occupancy, Deed of Assignment, e.t,c will be provided for practical demonstration Exercises will involve creating folders and subfolders, and using Antivirus program to clean up a disk. 7 & 8 MID-SEMESTER TEST

5 9 Service Charge Introduction Types Purpose Determination Project Identification and Feasibility Studies The concept of feasibility studies and 10 & 11 attributes. Types of Projects Application of Management Techniques discussed in ESM 505 Applied Property Management 1 13 New innovations / Challenges in Property Management. E.g Facilities Management, e.t.c. Students will be taught on efficient managing of multi tenanted buildings through the administration of service charge. Students will be taught on how to make the best use of it for their academic and practical pursuit Globalization has brought drastic change to all areas of the built environment including estate surveying and valuation. Property Management is one of the key areas that has undergone this drastic change. For students to compete with their peers outside, there is the need to acquit them with this changes. 14 Field Work/ Site Inspection Students are to inspect a site / property to have a practical exposure on property management and the problems inherent therein with a view to proffering solutions 15 REVISION This is the week preceding the final examination. At this time, evaluation will be done to assess how far the students expectations for the course have been met.