The delivery of the module will cover both residential and commercial property; this will be by means of certain presentations contrasting and combing the subject and some dedicated to a specific property class, e.g. an analysis of atypical residential leases and an analysis of commercial leases, each subject to certain variables.
Residential: Summary of the letting market, Review of tenancy contracts, deposit schemes and other regulations (EPCs), landlord and tenant obligations, grounds for possession, conditions of engagement, administration and office procedures and legal duties of an agent and RICS rules and regulations (clients’ money)
Commercial: Landlord and tenant relationship, impact of statue on landlord and tenant relationship, managing breach of covenant, code for leasing of business premises, services charges, insurance and office management
To achieve credit for this module, students must be able to:
- Examine the role of the managing agent in protecting and enhancing the value of a client’s property.
- Identify the role and responsibilities of the property manager in relation to the client, the tenant, professional standards, and third parties, including health and safety.
- Identify the various legal remedies available in managing tenant breach of covenant for residential and commercial property.
- Terminate, and/or, renew leases and tenancy agreements in the residential and commercial property sectors.
- Identify revenue potential, and costs, and ways to mitigate these costs through effective management practice.
- Organise and run a property management system.
|Coursework||4 mini-tests (in-class); 3 best test results count (outcomes 1,2,3,4). An optional alternative case study assessment is available for students with special educational needs, and also 2201DL students who are not on campus||30%|
|Examination||Seen exam (2 hours)||70%|
Students should be familiar with the content of at least one of the following:
- Department for Communities & Local Government (DCLG) 2009: Assured and Assured Shorthold Tenancies: A Guide for Landlords. Department for Communities and Local Government.
- Trott, T. (1998) Managing Private Rented House. RICS Books
- Scarrett, D. (2011). Property Asset Management., 3rd Ed, Palgrave Macmillan
- Stapleton (2005) Real Estate Management Practice / edited by Anthony Banfield,, 4th ed. Estates Gazette, 2005
- Garner and Frith, (2017) Practical Approach to Landlord and Tenant, 8th Ed, Oxford University Press.
- GOV.UK (2020) Tenancy agreements-a guide for landlords (England and Wales)
- IRRV website
- RICS – website and RICS Modus magazine.
- NAEA & ARLA – websites.
- Research pages of national estate agents.
- DCLG website.