Property Manager - Owner Expectations

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:

    “Then the owner of the house became angry and said to his slave, Go out at once into the streets and lanes of the town and bring in the poor, the crippled, the blind, and the lame.’”
    —Bible: New Testament, Luke 14:21.

    “Establishing limits, structure, rules, and expectations takes self-confidence on the part of parents. Parents need to recognize that they are the legitimate authority figures in their households and feel secure in that role.”
    —Karen Levine (20th century)