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Commercial Property Management Course Descriptions

NYC Real Estate Ferries

Summer 2018 Courses

Principles of Commercial Property Management REPM-0010/$595
Sec. 1: Online (self-paced). Jul. 9-Aug. 13 (6 sessions). Deborah Tomasi

Through a step-by-step examination of the specialized profession of commercial property management, gain a comprehensive understanding of the principles, practices and skills needed to manage commercial office and mixed-use buildings. Topics covered include ownership structures and investment strategies; the Management Plan; the Management Agreement; management organizational structures; management fees; operating procedures; staffing; personnel management; leasing and tenancy strategies; risk management and insurance; leadership; communication and ethics.

Commercial Property Budgets and Financial Management REPM-0020/$595
To be offered Fall 2018

Acquire the essential skills to develop and analyze financial reports for real estate, including operating and capital budgets. Topics include profit and loss statements; balance sheets; cash vs. accrual accounting; budget preparation; aging reports; vacancy and collections reports; lease types; market rent vs contract rent; useable and rentable area; load factor; potential gross income (PGI); vacancy and collection loss; miscellaneous income; effective gross income (EGI); fixed and variable operating expenses (OE); capital expenditures (CAPX); net operating income (NOI); direct capitalization; multi-year cash flow forecast; net present value (NPV); internal rates of return (IRR); lease escalations; effective rent; expense stops; discounted cash flow (DCF) analysis; discount rates; residual or terminal value; net proceeds from sale; selling expenses; debt service; before-tax-cash-flow (BTCF); after-tax-cash-flow (ATCF); and depreciation and capital gains.

Commercial Real Estate Leases REPM-0030/$595
To be offered Fall 2018

Improve your ability to review, understand and evaluate the terms and conditions of commercial real estate leases from a landlord and a tenant perspective. This course provides a step-by-step explanation of the essential elements of commonly used office and retail lease forms and the motivations of the parties to a lease. Topics include lease types including full-service, triple-net, and modified-gross leases; expenses and additional rent clauses including electric rent inclusion, operating expenses, common area maintenance (CAM), and real estate taxes; the tenant’s rights of first offer, first refusal, renewal, and termination; exit strategies including assignment and sublease; property management role in showing space, negotiating operating clauses, managing guarantees and security deposits and responding to lease violations.

Fundamentals of Building Systems REPM-0040/$595
To be offered Fall 2018

This course provides a technical baseline - a working knowledge - of the building systems and infrastructure commonly found in commercial office and large residential buildings. Topics include heating, ventilation and air conditioning; electrical; lighting; plumbing; fire alarm; fire protection and vertical transportation.

Building Operations, Maintenance and Energy Management REPM-0050/$595
To be offered Fall 2018

Learn the who and how of building operations and maintenance (O&M), project management and best practices for energy-efficient, cost-effective building operations and maintenance. Topics include goals; department organization; documentation; tools; assessments; tune-ups; automatic controls; scheduling; tracking; preventive operation and maintenance; energy management; procurement; request for proposals (RFPs); outsourcing; contracts; retro-commissioning; emergency management and life cycle replacement cost.

Commercial Property Management Plans REPM-0060/$595
To be offered Fall 2018

Working within a due diligence framework, apply concepts learned in the previous courses along with newly introduced concepts to develop a property management plan for the acquisition, operation and disposition of a commercial property. Topics include market analysis reports; assumptions and conclusions; leases and rent roll; lease maturities; lease stacking plan; tenant improvements; concessions; escalations; tenant creditworthiness; estoppel certificates; income and expenses; notes and mortgages; certificate of occupancy and permits; parking and ADA compliance; tax and flood certifications; title search; title insurance; survey; zoning certification; property condition assessment; environmental phase analysis; comprehensive property and casualty insurance; maintenance contracts and licenses; value creation opportunities; property positioning; capital projects; marketing plans; and tenant mix.