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:
“I am the owner of the sphere,
Of the seven stars and the solar year,
Of Caesar’s hand, and Plato’s brain,
Of Lord Christ’s heart, and Shakspeare’s strain.”
—Ralph Waldo Emerson (1803–1882)
“Masturbation is not only an expression of self-regard: it is also the natural emotional outlet of those who ... have already accepted as inevitable the wide gulf between their real futures and the expectations of their fantasies.”
—Quentin Crisp (b. 1908)