Assignment

For the Final Project, you will be preparing a Property Management Plan for a property of your choice (apartment building, shopping center, or other commercial property). Each week you will complete a component of the Property Management Plan. In Week Two, you will be completing the property analysis section of the Property Management Plan. 

Write a three- to-four page paper (excluding the title and reference pages) outlining your property analysis for a property of your choice. Please see the recommended readings section for resources to assist you with locating a property. 

The property analysis is a review of the particular property itself: its physical condition and needs, its rent roll and lease structure, and its overall financial performance and condition. The property analysis, at a minimum, should explain each of the following: 

• Building size, location, accessibility 
• Physical condition and age of structure and grounds 
• Common area characteristics and condition 
• Tenant space characteristics and condition 
• Building occupancy and character of tenants 
• Curb appeal: visual impression, style 
• Building-to-land ratio: other possible uses or expansion on the site 
• Compliance status regarding relevant regulations 
• Current management strategy, policy, procedures 
• Current staffing adequacy 
• Financial integrity (including comparison of revenue and expenses with other similar buildings) 

As you are preparing your property analysis and retrieving information from various sources, include the following: 

• A description of the property. 
• An analysis of what is needed to make the chosen property competitive.
• A comparison of what data will be useful in comparing the financial integrity of the selected property with similar properties in the area.
• An explanation of your tenant strategies. Who will be the tenants and how will you attract them? 
• The paper should be formatted according to APA guidelines and reference two scholarly sources in addition the textbook.