Property manager

“ The owner grants a lease for a long period of time, usually ninety-nine years, for a ground rent, which is notoriously below the true economic rent of the land, subject to the condition that the leaseholder must erect upon the land and keep in good repair certain buildings, which on expiry of the lease will become the property of the ground owner. ”

“ The land agent has no equivalent in France, except for house property. He is neither a notary, nor a steward, and yet he partakes of both, being the intermediary between landlord and tenant. It is he that draws up the leases and settlements; he who receives the rents, who sends out summons, who signs every six months the cheque impatiently expected by the landlord; he who represents him at law, he who negotiates his loans, mortgages, cessions of income, and all other banking operations. ”

“ It determines what persons may occupy the living quarters. It assumes most of the financial risks of these housing projects by insuring the mortgagees. It provides police and fire protection, sewerage and water service, and access roads. The United States is not a mere lessor who, having leased the property, allows it to be managed by the lessee. The great decisions as to management are made by the Government. The lessee is, indeed, a managing agent.
The lease makes the buildings and improvements property of the United States. ”

“ The Office of Management and Budget and the General Services Administration shall, in consultation with the landholding agencies, develop legislative initiatives that seek to improve Federal real property management through the adoption of appropriate industry management techniques and the establishment of managerial accountability for implementing effective and efficient real property management practices. ”

“ Of the realty companies, the Park Realty Company was organized to 'work, develop, sell, convey, mortgage, or otherwise dispose of real estate; to lease, exchange, hire, or otherwise acquire property; to erect, alter, or improve buildings ”

“ All such agencies shall periodically review their real property holdings and conduct surveys of such property in accordance with standards and procedures determined by the Administrator of General Services. All such agencies shall also develop annual real property management improvement plans that include clear and concise goals and objectives related to all aspects of real property management, and identify sales, work space management, productivity, and excess property targets ”

“ The difficulty, indeed, of late years, has been not to find sellers but purchasers of the land, and it is not to be supposed that even if you were to take away every check, and make every landowner an absolute owner, he would at once rush into the market and sell his property. ”

“ That act provides that an owner of a large estate may sell to his tenants the holdings they occupy, and his untenanted land to any one who desires to buy it, in such tracts and at such prices as may be agreed upon, corresponding to the income now derived from that particular property. No landlord can sell a few acres here and there of good land under this act, although, of course, he is at liberty to dispose of any part of his estate at any time at any price that he may consider proper. ”

“ If, in consequence of an increase in his household, the tenant becomes ten times as strong as the proprietor, he will produce ten times as much. Would the proprietor in such a case be justified in raising the farm-rent tenfold? His right is not, The more you produce, the more I demand. It is, The more I sacrifice, the more I demand. The increase in the tenant’s household, the number of hands at his disposal, the resources of his industry,—all these serve to increase production, but bear no relation to the proprietor. ”

“ Back in 1928, a man bought a comparatively new house and eight acres of land for a sum far below the prevailing prices in the vicinity. The grounds were attractive and the lawn well shaded with fine old maples. He acquired this "bargain" in the late fall without benefit of real estate dealer. In fact, he boasted of his acumen to a broker who had originally shown him several other pieces of property in the section. ”

“ Under the plan in which the tenant furnishes everything except the real estate, the tendency of the farm is apt to be downward both as to the improvements and the crop-producing power of the soil. The interests of the landlord and tenant are not mutual. This condition of tenancy leads to growing only those crops which can be readily sold from the farm and to frequent changes of the tenant, with its accompanying auction sales of property. In one region, where this system prevails, it has been facetiously remarked that each tenant has a sale every year to determine how much he is worth. ”

“ The ownership of the home in the competitive system does not make the owner so careful to avoid waste as our system makes the tenant. As I have said, the occupant, be he owner or tenant, can enjoy only the use of his house during his life.
“In the competitive system how many owners waste their houses? Some are drunkards and mortgage them and waste their value in drink. Some are gamblers, and lose the value at the gaming table. Some insure them and burn them to get the insurance money. Some go into business, mortgage the home for money or credit, fail and lose the property. ”

“ If he is not the proprietor of the field, if he is only a tenant, he pays the proprietor for the productive service of this tool. The tenant is reimbursed by the purchaser, the latter by another, until the product reaches the consumer; who redeems the first payment, PLUS all the others, by means of which the product has at last come into his hands. ”

“ For purposes of this section, ``real estate brokerage activity ́ ́ shall mean ``real estate brokerage ́ ́, and ``real estate management activity ́ ́ shall mean ``property management ́ ́, as those terms were understood by the Board of Governors of the Federal Reserve System prior to March 11, 2000. ”

“ Many of the great estates [708] are carried on at a positive loss to their owners, and it may be doubted whether agricultural property pays the possessor a return of 2 per cent. per annum; which is as much as to say that the landlord furnishes the tenant with capital in the form of land at that rate for the purpose of his business. What other class is content with such a scanty return? They are often charged with not managing their estates on business principles, and no charge is worse founded. It would be a sad day for the tenants on many an estate if they were managed on commercial lines. ”

“ A landlord leases his sites in the first instance to builders, for periods of great length. When the building leases fall in, and the houses become the landlord's direct property, it is almost invariably an object with him to lease them for periods, shorter indeed than the original building lease, but always of considerable length. As long as houses are in the hands of a building lessee, or his representatives, the ground landlord can derive no profit from them beyond the rent reserved in the lease, and can exercise no control over them outside the covenants contained in that document. ”

“ Under these circumstances the management of an [Pg 126] estate becomes very complicated, and morally speaking very painful; for the proprietors are continually forced to use harsh measures. For this reason, all the Irish landowners, even those who reside on the estate, confide the management of the property to professionals, who are called “agents.” ”

“ Though many houses have been sold in this way, a considerable part of the village is still the property of our company, and those that have been built by other parties are in accordance with a plan of streets laid down; and I should say are about equal to the others in comfort and conveniences, it being the interest of the person investing his money to get the best return he can for it; and that he may get his house let and a fair rent for it, he must build as good a house as the tenant can get for the same rent from another. ”

“ It will not be doubted that, by care in the selection of tenants and in the preservation of the reputation of the building, by superior elevator service, by vigilance in guarding and protecting the property, by the exercise of skill and knowledge in the general management of the premises, a good will of the establishment will be promoted, which will tend to an extra increase in the earning capacity and value of the building. ”

“ While gross rents are fixed by competition, the question arises how do bidders determine what they can pay? The basis differs radically between business property which earns income for the occupant as well as the owner, and residence property, which for the occupant consumes income only. ”

“ Such statutes are universally in force and are general in their application, facts of which the land owner must take account in providing for the management of his property and safeguarding his interest in it. ”

“ It will take very many years to enable the land-owner to realize anything like the price he once commanded for his property. Of course, in the leading business streets there will be but little difference, though it will be felt in a good many quarters. ”

“ The vendor continued to possess and occupy the property after the conveyance the same as before, leasing the buildings and collecting the rents in his own name, and not accounting to the vendee for the same. Indeed, the vendee seems to have taken no part in the management of the property ”

“ Each agency with real property management responsibilities shall, by September 30, 2005, and every third year thereafter, prepare a report on its progress in identifying, protecting, and using historic properties in its ownership and make the report available to the Council and the Secretary. ”

“ Zoning laws tell the owner of private property to what type of business his property may be devoted, what structures he may erect upon that property, and even whether he may devote his private property to any business purpose whatsoever. ”

“ As property became secure, and landlords felt that the power of the State would protect them in all the rights of property, every vestige of these feudal tenures was abolished, and the relation between landlord and tenant has thus become purely commercial. A landlord offers his land to any one who is willing to take it; he is anxious to receive the highest rent he can obtain. ”

“ Inquiry often disclosed the fact that the owner of the property was a wealthy gentleman or lady, either living in an aristocratic part of the city or in a neighboring city, or, as was occasionally found to be the case, in Europe. The property is usually managed entirely by an agent, whose instructions are simple, but emphatic, viz., ‘collect the rent in advance, or, failing, eject the occupants.’ The profits on this sort of property, so administered, are rarely less than fifteen per cent., and more generally thirty per cent. ”

“ While these institutions loan in the aggregate enormous sums on farm property, their chief field of operations is urban real estate, and particularly the industry of residence, or as we would call it in this country, apartment-house construction. ”

“ Property management involves multidisciplinary professional services, including general property management services, environmental management of properties, repair and maintenance of properties, facility management, finance and asset management, human resources management, and legal services related to properties. ”

“ Any planter, then, settling in a new district requires to act with great care and tact till he passes the four years period, when he may do anything in reason. But unless he has a full control of himself, he will be sure to be involved in squabbles and disputes of a more or less troublesome character, which are injurious to the interests of the estate. And hence there is the greater need for the proprietor being careful in his selection of a manager. ”

“ Under this system, it is customary for landlord and tenant each to receive one-half of all sales. As each owns one-half of all the live stock (teams excepted) , each shares equally in all increase. The landlord pays for the cost of permanent improvements such as new buildings, fences, repairs and drainage. The tenant, in making these improvements, in some cases, agrees to furnish two days’ labor for one day’s pay. The theory is that, while the increased value of the real estate is of advantage only to the landlord, the improved facilities are of some benefit to the tenant. ”

“ The trouble of the system, which in some ways seems a good one, must come in over the division of the profits, as either the honesty of the tenant must be implicitly trusted or an overseer must be present when the crop is gathered to see that the landlord gets his true medias. ”

“ The proprietor of an absentee estate is necessarily entirely in the power of his manager; and whatever the number of accounts, reports, and returns may be is of little consequence, as the proprietor cannot get behind them, i.e., he cannot count the coolies that enter the estate in the morning, and that being the case, he is wholly dependent on the honesty of the manager. But the proprietor, it might be urged, can call for the check-roll of people. ”

“ Tenants, I say, and at long lease, if they behave well: with power eventually to purchase the piece of land they live on for themselves, if they can save the price of it; the rent they pay, meanwhile, being the tithe of the annual produce, to St. George’s fund. The modes of the cultivation of the land are to be under the control of the overseer of the whole estate, appointed by the Trustees of the fund; but the tenants shall build their own houses to their own minds, under certain conditions as to materials and strength ”