Test Drive
Professional Property Management
Important Terms
• asset management
• commercial property
• industrial property
• office property
• property manager
• residential property
• retail property
• special-purpose property
Web Resources
• Institute of Real Estate Management
• National Apartment Association
• National Association of Residential Property Managers
Lesson Two
Economics and Planning
Important Terms
• business cycle
• comparables
• gross rental income
• management plan
• market analysis
• operating budget
• operating expenses
• property analysis
• reserve funds
Web Resources
• No web links for Lesson Two
Lesson Three
Owner Relations
Important Terms
• agent
• employee
• employer
• fiduciary
• flat fees
• management contract
• percentage fees
• principal
Web Resources
• No web links for Lesson Three