Master of Science in Property Management

Curriculum:

The program consists of 45 post-baccalaureate credits with 30 credits in Core Foundation Courses. The Core Foundation Courses include essential subject areas for all successful property managers: environment, facilities management, property law, financial analysis, risk management, development, and technology. The three premier types of property are featured: residential, commercial, and retail. Beyond the core foundation courses, students can select from a list of elective courses. All students participate in a capstone project which is the culminating experience of the degree program. Students discuss current issues facing the profession, work together on a team project to complete an analysis project and have the opportunity to interact with internationally known property management leaders.

Total 45 Credits

CMGT 535- Environmental Impact Analyses and Planning 
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PRMT 602-Residential Property Marketing
This course covers strategies to successfully market residential properties. Discussions include the acquisition of new tenants and retention of existing tenants, renter motivation, the impact of world-class customer service, marketing properties by packaging amenities, consultative selling strategies, advertising and online marketing strategies, and students will review best practice advertising campaigns. The students will analyze marketing campaigns from residential housing developments in the Philadelphia area

PRMT 603 - Property Asset Management
The focus of this course is the role of property managers in increasing the value of properties by creating strategies to maximize return by providing excellent customer service, designing systems to provide utilities in an efficient and effective manner, creating opportunities and value added services to enhance the tenants’ experiences, and managing the day-to-day operations of properties in the most effective manner. The students engage in research and interact with leading professionals to gain insights into the field. The course features best practice case reviews and analysis.

PRMT 610 -Facilities Management
The focus of this course is the strategic role property managers play in facilities management. Property managers must be keenly aware of all operational issues and are active participants in making key strategic facilities decisions including in-house or outsourcing services, service specifications, managing service providers, efficient methods to provide utilities and great tenant services, and creative methods of addressing sustainable development issues. Students will conduct a field inspection of a property and comprehensive condition assessment report.

PRMT 625 - Property Financial Analysis and Strategy
This course focuses on the importance of financial analysis to the strategic decision-making process employed by property managers including cash flows, tax implications and risks of various projects. Decision-making models, lease valuation, and sensitivity analysis are employed in real situations to make decisions from all perspectives. Current market conditions are discussed including alternative financing choices, cost of funds, tax incentive development options, and capitalization rates.

PRMT 630 -Property Management Law or Rental Property Law
The focus of this course is the legal framework within which a property manager makes strategic decisions. Lease provisions for a variety of property types are analyzed and a significant portion of the course deals with Fair Housing Law, the Americans with Disabilities Act of 1990(ADA), and state housing statutes. Strategies to reduce legal exposure are discussed. The course features significant cases to demonstrate the major provisions of each of the statutes.

PRMT 640 - Property Security, Emergency and Risk Management
This course focuses on risk aversion strategies employed by property managers to protect tenants, employees, community members, and owners. The course includes analysis of best practice strategies featuring property developments with superior emergency planning systems, security systems, communication strategies, and environmental response plans. Students have the opportunity to review the insurance strategy for a major property development including their insurance coverage portfolio and required level and type of insurance from tenants. Students discuss various state and federal laws that apply to property security, emergency and risk management, including OSHA, EPA, state and federal health requirements, FHA, and ADA. course description

PRMT 645 - Property Management Technology Strategy or Property Management Technology Strategies
This course focuses on the use of technology to effectively manage and market property. Successful strategies employing technology to gain operating efficiencies, increase employee and tenant communications, optimize rent management procedures, increase tenant retention, and maximize security systems are featured. The role of technology in property marketing and the value of technology services as a marketable amenity are featured. Best practice examples of integrated technology systems are reviewed and students have the opportunity to perform a technology audit on a selected property.

REAL 568- Real Estate Development
The course will provide a comprehensive exploration of the development process for real estate development projects. Residential, multi-family, single family, apartments, office buildings, retail projects, industrial developments and the development process for each market segment.

REAL 572 -Advanced Market Research & Analysis
This course will explore the market research methods used to understand and dissect geographical and demographical real estate markets. Detailed market research strategies will be employed and case studies will be analyzed to deepen the student’s knowledge of market research techniques and resources.

PRMT 650- Retail Property Marketing and Management
This course explores successful strategies to market and manage retail properties. The course is important to all property managers because there is a retail element in most real estate developments. A variety of retail properties are discussed with a special emphasis on shopping centers, mixed-use properties, and the development of retail entertainment destinations. Topics covered include strategies addressing tenant mix, advertising, lease negotiations, technology integration, promotions, and retail as an amenity for residential tenants. Retail developments in Atlantic City will be analyzed including The Pier Shops at Caesars. The King of Prussia Shopping Center will be featured as a destination shopping development. Class participants will have the opportunity to analyze cases featuring world class retail developments including Disney World and Universal City Walk and complete research on a mixed-use property in the Philadelphia area.

PRMT 655 -Affordable Housing Management
This course focuses on successful strategies to manage quality affordable housing. The major issues that influence strategy development are discussed with special emphasis on government regulation, rental property law, market research, government funding, property development including zoning and community challenges, green development concerns, and specialized amenity provisions including childcare, assisted living facilities, and pharmacies. The course requires students to interact with industry leaders and to analysis all aspects of an affordable housing development in the Philadelphia area.

PRMT 660- Student Housing Marketing and Management
This course focuses on successful strategies for marketing and managing student housing. The main variables influencing strategic decision-making are explored including federal and state legal regulations, town-gown relations, emergency management requirements, security and communications planning, advertising design and placement, rent management opportunities and constraints, cash flow management, awareness of student issues and key legal cases. The increasing trend to develop mixed-use, on-campus projects is discussed. The development of student housing projects is featured and the impact of the community surrounding the campus on the management and marketing of student housing is featured using the University City District (UCD) as a basis for discussion.

PRMT 665 -Military Housing Marketing and Management
Strategies to successfully market and manage military housing are the central focus of this course. Military housing is a unique segment of the housing market and requires specialized study in a variety of areas including federal laws, emergency management requirements, security and communications planning, military regulations, Department of Defense initiatives and regulations, specialized amenities especially childcare, and awareness of current cases and issues. The course explores best practices of marketing housing to military personnel. Students will research a military housing development and make a presentation to the class.

PRMT 670- Housing for Later Life
This course focuses on the strategies employed to successfully manage and market housing for later life. A wide range of housing choices is explored including active adult communities, assisted living facilities, senior living facilities, continuing care retirement communities and nursing homes. Emphasis is placed on the legal, operational, marketing and financial issues that influence strategic decision-making using private equity investment in nursing homes as a basis for discussion. Special emphasis is placed on discussing property design to fit specialized lifestyle activities, unique amenity wants and related health service needs of the tenants. Best practice examples of creative properties will be featured and class members will have the opportunity to interact with industry leaders.

PRMT 675- Commercial Property Management
This course focuses on the strategic management of commercial property. A variety of commercial properties are analyzed including office buildings, medical office buildings, industrial properties, warehouses, specialty industrial parks, and mixed-use corporate campuses. Topics covered include maintenance, marketing, lease management, risk management, negotiations, and property incentive plans. Commercial property is considered in an investment context using the development of medical office buildings as a basis for discussion. Mixed use developments are analyzed using the Philadelphia Navy Yard development.

REAL 574- Real Estate Economics in Urban Markets
This course will offer a unique and detailed perspective on urban real estate development and the special sub-markets in which they exist. Attention will be given to the characteristics of the particular economic factors relevant in urban real estate markets.

PRMT 695- Capstone Project in Property Management 1
This culminating course provides a detailed analysis of major issues facing property managers today and requires the completion of a comprehensive community analysis of a property development. The research protocol and methods to be used in PRMT 696 are presented and students submit a research topic for approval

PRMT 696- Capstone Project in Property Management 2
This culminating experience requires the completion of a research project focusing on a topic relevant to today’s property managers. The project will be completed in a systematic manner using research and management tools. Students will demonstrate their abilities to conduct thorough secondary and primary research, analyze and interpret data, evaluate results, and make meaningful conclusions. Students will make a presentation of their research findings to a panel of industry leaders. The project is planned and completed under the guidance of a graduate faculty advisor

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