第1页共90页编号：时间：2021年x月x日书山有路勤为径，学海无涯苦作舟页码：第1页共90页物业管理英语课程PropertyManagement物业管理英语第一讲：PropertyManagementPropertymanagementistheprocessofoverseeingtheoperationandmaintenanceofrealpropertytoachievetheobjectivesofthepropertyowner.Sometimesownersmanagetheirownproperty,particularlysmallpropertiesandparticularlywhentheythemselvesoccupypartofthespace.Butforlargerpropertiesorthosewhoseownersliveatadistance,managementisusuallyperformedbyapaidpropertymanager,eitheranindividualbuildingsonlong-termleases,wheretenantsmaintainthebuilding,paythetaxesandinsurance,andmailtheowneracheckeachmonth.Butmostresidential,office,retail,andmanyindustrialpropertiesofferservicesalongwiththespaceovertime.第2页共90页第1页共90页编号：时间：2021年x月x日书山有路勤为径，学海无涯苦作舟页码：第2页共90页Propertymanagementhaslongbeenanunderratedfunctionintherealestateindustry.Theneedforprofessionalmanagementdidnotbecomeapparentuntilthedepressionofthe1930s,whennumerousforeclosuresrevealedapatternofmanagementdeficiencies.Thisoversightmightseemstrange,sincerunningalargecommercialorresidentialprojectinwhichhundredsorthousandsofpeopleresideorworkisahighlychallengingtask,callingfortraining,goodjudgment,varietyoftechnicalskills.Traditionally,however,emphasisintherealestateindustryhasbeenonthesopermanentelementsoftheinvestment-goodlocation,construction,andreasonablelong-termfinancing-thanontheday-to-dayoperationoftheproperty.Ithassometimesseemedasifapropertyowner,havingmadeaverylargeinvestmentinthepermanentstructure,assumedthatthepropertywouldrunitselfwithaminimumamountofsupervision.第3页共90页第2页共90页编号：时间：2021年x月x日书山有路勤为径，学海无涯苦作舟页码：第3页共90页Thisconceptofpropertymanagementhaschangedsubstantiallyinthepastdecade.Inaneraofrisingcosts,ithasdawnedonownersthatgoodpropertymanagementisthemajorcontrollableinfluenceonresidualcashflow(i.e.,thenumberofdollarsthatendupintheowner’spocket).Itistruethatbothrentratesandoperatingexpensesarelargelyshapedbymarketforcesbeyondthecontrolofanyonepropertyowner(witnesstheverysharpriseinenergycostsinthe1970s).Butitisalsotruethatcomparablepropertieswithinthesamegeographicareaoftenshowsignificantvariancesinrentalincomeandoperatingcosts.Why?Closeinspectionoftenshowsthat“above-average”operatingexpensesandlowerthanaveragerentlevelsresultfrominadequatepropertymanagement.Theclassicmistakeofthestockandbondinvestormovingintorealestateinvolvesunderestimatingtheimportanceofmanagement.Someinvestorshavethefe第4页共90页第3页共90页编号：时间：2021年x月x日书山有路勤为径，学海无涯苦作舟页码：第4页共90页elingthatrealestatemanagesitself.Thereisastoryabouttheimportanceofpropertymanagement.ASanFranciscorealestatebrokerrecentlynoticedaprojectthatwasonthemarketfor$1million.Heknewhowthepropertyhadbeenmanagedinthepastandthatthemilliondollarvaluationwasbasedonacapitalizationofhistoricincomefigure.Heborrowedmoneytobuytheproperty,renegotiatedcertainleases,andestablishedmoreefficientoperatingprocedures.Insixmonthshesoldthepropertyfor$1.4millionbasedonthecapitalizedvalueofthenew,highernetincome.Hiscontributionwasmanagementexpertise.UsefulExpressions:atadistance在远处alongwith和，同，与……一道；加之callfor需要；要求ratherthan而不是dawnon开始（被人）理解，渐渐（使人）明白第5页共90页第4页共90页编号：时间：2021年x月x日书山有路勤为径，学海无...
