Owner Expectations
The owner of a property expects the property manager to:
- carry out the owner’s instructions, control costs and maximize revenue to maintain a stabilized cash flow as a return on capital invested (commonly referred to as the capitalization rate or the cap. rate)
- exercise control over the building to safeguard the capital invested, provide a duty of care through proper maintenance of the building
- be professional and well informed on Fair Housing laws and property management practices and procedures
- enhance the value of the property by making improvements that will increase its market value, retain and enhance pride of ownership.
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Famous quotes containing the words owner and/or expectations:
“In relation to God, we are like a thief who has burgled the house of a kindly householder and been allowed to keep some of the gold. From the point of view of the lawful owner this gold is a gift; From the point of view of the burglar it is a theft. He must go and give it back. It is the same with our existence. We have stolen a little of God’s being to make it ours. God has made us a gift of it. But we have stolen it. We must return it.”
—Simone Weil (1909–1943)
“Often, when there is a conflict between parent and child, at its very hub is an expectation that the child should be acting differently. Sometimes these expectations run counter what is known about children’s growth. They stem from remembering oneself, but usually at a slightly older age.”
—Ellen Galinsky (20th century)