RES 429 Week 2 Property Analysis Updated
RES 429 Week 2 Property Analysis NEW
Property Analysis. For the final paper, 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 on the property management plan. In week two, you will be completing the property analysis section of the final 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 in 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. include the following.
The property analysis, at a minimum, should
Building size, location, accessibility
Physical condition and age of structure and grounds
Common area characteristics and condition
Tenant space characteristics and condition
Building occupancy and character of tenants
Curb appeal: visual impression, style
Building-to-land ratio: other possible uses or expansion on the site
Compliance status regarding relevant regulations
Current management strategy, policy, procedures
Current staffing adequacy
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:
What is needed to make the property of my choice competitive? A useful property analysis includes a thorough description of the property.