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.
Read more about this topic: Property Manager
Famous quotes containing the words owner and/or expectations:
“There is a small steam engine in his brain which not only sets the cerebral mass in motion, but keeps the owner in hot water.”
—Unknown. New York Weekly Mirror (July 5, 1845)
“I don’t know what immutable differences exist between men and women apart from differences in their genitals; perhaps there are some other unchangeable differences; probably there are a number of irrelevant differences. But it is clear that until social expectations for men and women are equal, until we provide equal respect for both men and women, our answers to this question will simply reflect our prejudices.”
—Naomi Weisstein (b. 1939)