Commercial Property Management
The Certificate in Commercial Property Management is designed to produce
individuals who are equipped with the fu
ndamental skills necessary to manage income-producing properties such as office buildings and shopping malls. Property managers oversee the performance of commercial properties and ensure that real estate investments achieve their expected revenues. To help properties become more profitable or to enhance the resale values of units, a growing number of commercial property owners are expected to place their investments in the hands of professional managers. Job growth among onsite property managers in commercial real estate is expected to accompany the projected expansion of the real estate and rental and leasing industry.
With an unprecedented commercial building boom, there is a need for professional managers with specialized education. Drexel University's Ceritifcate in Commercial Property Management helps satisfy the need for well-educated professionals in this increasingly complex, multibillion-dollar industry.
Who Should Choose Commercial Property Management?
Prospective students with or without a bachelor's degree will benefit from this program. Students who already possess an undergraduate degree and want to increase their knowledge of commercial property management can round out their prior education and experience with this certificate. Students without a bachelor's degree may choose this certificate as a stand-alone credential or as a desirable achievement en route to their undergraduate degree.
In particular, online or Saturday Scholars students pursing a degree in Professional Studies or General Studies with a Minor in Business will find the certificate to be a fitting complement to their undergraduate studies, allowing them more flexibility in their future career options. Also, full-time day students pursuing a variety of majors such as architecture, business, construction management, and engineering will find this certificate attractive.
Course Requirements
Certificate in Commercial Property Management
18.0*
Required Courses
CMGT 263 Understanding Construction Drawings
PRMT 110 Introduction to Property Management
PRMT 335 Marketing & Leasing Residential Property
PRMT 340 Managing & Marketing Retail Property
PRMT 360 Managing & Marketing Commercial Property
PRMT 365 Commercial Property Appraisal
*Depending on a student's prior educational background, the total number of credits might be higher due to prerequisites.
Course Descriptions
CMGT 263 Understanding Construction Drawings 3.0
This course examines a variety of construction documents, including drawings, details, graphic standards, sections, and quantities for competitive bidding and execution of projects. Both residential and commercial construction documents will be examined.
Prerequisites: CMGT 161, CMGT 162
PRMT 110 Introduction to Property Management 3.0
This course provides an introduction to the multidisciplinary world of property management. Successful property managers need to understand facilities, construction, marketing, leadership, human resource management, finance, law, and sociology. They need to realize the unique role they play interacting with a variety of key stakeholders including property owners, investors; lenders; tenants; and the government. A variety of rental properties are discussed including condos, affordable housing, housing for an aging population, military housing, and campus housing.
PRMT 335 Marketing & Leasing Residential Property 3.0
This course covers the marketing of residential rental properties and includes strategies to acquire new tenants and retain existing tenants. Market analysis is used as a foundation to create a marketing plan and develop advertising strategies. Buyer motivation, continuous customer service, and tenant retention strategies are discussed. Students have the opportunity to employ the successful techniques learned in the class through experiential learning opportunities including a consultative sales presentation. Best practice marketing campaigns and strategies and presentations by industry leaders are featured.
Prerequisite: PRMT 110
PRMT 340 Managing & Marketing Retail Property 3.0
This course is an introduction to managing and marketing retail property and uses the shopping center as the basis for discussion and analysis. The full range of centers is considered from small neighborhood shopping centers, to large regional malls, to lifestyle or entertainment destination centers. Topics covered include leasing negotiations, creating the best tenant mix, managing tenant relations, advertising strategies, and a variety of day-to-day and long-term concerns. Mixed-use developments are discussed and students will have the opportunity to discuss best practice examples and analyze and visit Philadelphia area shopping centers to meet with industry leaders.
Prerequisite: PRMT 110
PRMT 360 Managing & Marketing Commercial Property 3.0
This course is an introduction to managing and marketing commercial property and uses office buildings, warehouses, medical buildings, specialty industrial parks, and industrial properties as the basis for discussion and analysis. Topics covered include maintenance, marketing, lease provisions, lease renewals, location analysis, risk management, leasehold improvements, and government and tax incentive financing programs. Students will have the opportunity to discuss best practice examples and analyze and visit Philadelphia area commercial properties to meet with industry leaders.
Prerequisite: PRMT 110, FIN 301
PRMT 365 Commercial Property Appraisal 3.0
This course focuses on the fundamental concepts of real estate appraisal with an emphasis on the process of valuing commercial property. The course covers the foundations of property valuation, data collection and analysis, and alternative approaches to estimating the value of commercial properties.
Prerequisite: PRMT 110, FIN 301
