This course provides an overview of Residential Property Management, including issues with record keeping, dealing with tenants, maximizing cash flow and more. Class includes video interviews with property managers working in the Indianapolis market. By the end of this course you will have an understanding of what house Residential Property Management entails and the confidence to proceed in choosing a property manager or pursuing property management as a career.
Overview of the Residential Property Management Process
Video Interview #1 with a Property Manager – PART 1
- Requirements to be a Property Manager
- Duties of a Property Manager
- Benefits of Working with a Property Manager
- Landlord Registration and Keeping Up with Regulations
- Rules for Security Deposits, Issues with Commingling Funds, Interest Bearing Accounts and 45 Day Letters
- Responsibilities and Higher Standards of Brokers
- Additional Certifications for Property Managers
- Personality Traits of a Good Property Manager
- Should You Ever Turn Away Clients?
- Is Property Management Generally Recession Proof?
- A Property Manager’s Level of Authority
- How Property Management Companies May Differ in Philosophy
- Expect the Unexpected when Managing Tenants and Dealing with Owners
- Surround Yourself with Qualified Professional Advisors
- How Property Management Affects Cash Flow
- Community Resources for Investors
Video Interview #1 with a Property Manager – PART 2
- Dangers of Negotiating with Tenants
- Don’t Over-Improve Properties
- Dealing with Evictions
- Keep Emotion Out of Property Management and How to Keep Up with Changing Fair Housing Laws
- How Technology is Changing Property Management
- Insider Secrets
- Make Rent a Priority with Your Tenants
- Negotiating with Contractors
- Rentals or Flips in Emerging Neighborhoods?
- Types of Properties Managed and Types of Properties to Avoid Buying
- Investing in Communities Can Create Momentum for Investment Property Value
- How to Get Started in Property Management
Video Interview #2 with a Property Manager
- What Types of Properties are Managed by Property Managers?
- Dealing with People
- Handling Evictions
- Requirements of Landlords
Maintenance & Record Keeping
Video Interview #3 with a Property Manager
- What are the Responsibilities of a Property Manager?
- Liability Issues, Workman’s Comp Insurance versus Waivers and Other Insurance Issues
- Finding Good Contractors
- Maximizing Cash Flow
- What are the Costs of Using a Property Manager?
Maximizing Cash Flow
Video Interview #4 with a Property Manager
- What Does Homeowner Association (HOA) Management Involve?
- What is the Main Job of an HOA Property Manager?
- How Are the Board of Directors of a Community Selected?
- Why Investors and Home Buyers Should Research a Neighborhood’s Covenants Before Buying a Property
- Where Can a Potential Buyer or Real Estate Broker Find a Copy of a Neighborhood’s Covenants?
- Why is it So Important to Review the Neighborhood Covenants?
- Do the Violations Stay with the Owners or the Property Address?
- Do Unpaid HOA Fees Stay with the Owners or Property Address?
- Advice for Property Buyers, Agents and Investors
Quiz (For Course Credits)
This course fulfills 2 credits toward the National Professional Housing Provider designation of the National Real Estate Investors Association and is brought to you by the Central Indiana Real Estate Investors Association (CIREIA.org). Email us if you would also like a certificate for proof of completion of PHP credits.
This course also fulfills 3 hours of Indiana Real Estate Broker Continuing Education. If you are an Indiana Real Estate Broker, you will need to submit your license number and pass the quiz with a score of 75% or higher to receive CE credits. For those with text anxiety no need to worry – you can review the material and retake the quiz as many times as needed. The course should take only a few hours to complete, but your course access will be available for a period of 3 months.
Email us upon completion of the course and quiz with your license number, full name and address so a certificate can be issued through 101Studies.com.
Instructor: Victoria Mara Rutt
Investor, Licensed Real Estate Instructor and Real Estate Continuing Education School Director
Victoria is a licensed real estate education instructor with many years experience renovating properties. Victoria and her husband, S. Kishan Ranasinghe, own and manage eight rental properties in downtown Indianapolis including the Lavon apartment building in Fletcher Place.
She has over a decade of experience managing tenants and numerous renovation projects. Victoria also owns multiple small businesses including Lavon Properties, LLC property management (LavonProperties.com), Rutt Video & Interactive new media services (Rutt.com) and 101 Studies, LLC real estate continuing education (101Studies.com) and Investor Training (FlipOrHold.com). She is also the founder of the Safe Indy Public Safety Patrol Program (SafeIndy.com), an initiative that pools funds from members and sponsors to provide public safety services to Indy’s neighborhoods.
Victoria has over seventeen years experience working in new media, video production and marketing, eleven of which were spent working in New York City. She is also an avid animal rights advocate who volunteers regularly with several local animal rescue groups. Professional memberships include MENSA and Sigma Xi Scientific Research Honor Society.