A new online course from the Institute of Real Estate Management (IREM) is available to teach property management fundamentals to Realtors® without a lot of experience in managing single family homes and investment properties.
SFH201 was developed by IREM to teach property management basics and would benefit the Realtor® who acquires the occasional rental client. This may be a client who can’t sell the home and decides to try renting instead. The course also serves as introduction for Realtors® and owners to familiarize themselves with real estate management and rental practices.
In the course, Realtors® will learn:
Management agreement. Requirements for management agreements and state real estate license requirements.
Ethics and legal Issues. Importance of ethics in property management, fair housing issues, resident-landlord and other laws related to leasing and property management, and evictions.
Maintaining the property. Maintenance guidelines and strategies, major residential maintenance components, working with contractors, and creating a greener property.
Financial tools. Property budgets and trust accounts, cost-benefit analysis, record-keeping and reporting systems.
This course was developed to give Realtors® an understanding of the workings of managing single family homes and small investment properties as well as maximizing the value and financial potential of the properties being managed.
This is a self-paced course. No continuing education (CE) credits are being offered by Pennsylvania for the course. If participants are an IREM member, they will receive a member discount. If participants are not currently a member, they can join IREM or pay full value for the course.
The licensing law contains a limited exclusion from the licensing requirement for persons employed by the owner for managing and maintaining multifamily residential properties. To rely on this exclusion, the regulations require the owner to retain all decision-making authority, including conditions of occupancy, negotiating leases and entering into leases with tenants.