RES 429 - Week 2 - Property Analysis -
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 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 include the following:
a. Building size, location, accessibility
b. Physical condition and age of structure and grounds
c. Common area characteristics and condition
d. Tenant space characteristics and condition
e. Building occupancy and character of tenants
f. Curb appeal: visual impression, style
g. Building-to-land ratio: other possible uses or expansion on the site
h. Compliance status regarding relevant regulations
i. Current management strategy, policy, procedures
j. Current staffing adequacy
k. 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, please keep the following in mind:
a. A useful property analysis includes a thorough description of the property.
b. What is needed to make the property of my choice competitive?
c. What data will be useful in comparing the financial integrity of the selected property with similar properties in the area?
d. What are your tenant strategies? Who will be the tenants and how will you attract them?
The paper should be formatted according to APA guidelines.