Strategic Real Estate Management

PLAN26051 Strategic Real Estate Management 20 Semester 1 Undergraduate Level 2 Mark Shepherd Unit coordinator Planning, Property and Environmental Management 1 FHEQ level (Framework for Higher Education Qualifications) ' Undefined ' European Credit Transfer & Accumulation System Rating : 10.0 This unit provides an introduction to the principles and practice of the law of landlord and tenant and estate agency. It then goes on to explore the practice of managing multi-tenanted commercial real estate assets to which these landlord and tenant laws apply.More specifically it will introduce students to the fundamental legal principles that underpin real estate practice and must be understood in order to operate effectively. It will then critically explore how these are manifested in, and the consequential impact on, the real estate market and practice.  It will also introduce students to the role of the real estate asset manager, primarily from the perspective of commercial property investment.  It will cover both the strategic aims and the tactical approaches that are used in the pro-active asset management of a real estate portfolio.   This unit provides an introduction to the principles and practice of the law of landlord and tenant and estate agency. It then goes on to explore the practice of managing multi-tenanted commercial real estate assets to which these landlord and tenant laws apply.More specifically it will introduce students to the fundamental legal principles that underpin real estate practice and must be understood in order to operate effectively. It will then critically explore how these are manifested in, and the consequential impact on, the real estate market and practice.  It will also introduce students to the role of the real estate asset manager, primarily from the perspective of commercial property investment.  It will cover both the strategic aims and the tactical approaches that are used in the pro-active asset management of a real estate portfolio.   The unit aims to: 1. Introduce students to the legal principles governing landlord and tenant relationships 2. Explore the key elements of commercial leases. 3. Examine the implications of lease terms for the value and management of commercial real estate. 4. Explore the regulatory framework governing estate agency. 5. Introduce the principles of strategic real estate management. 6. Explore the tactics used to pro-actively manage real estate assets. Students should be able to:  <ul><li>Summarise a commercial lease, identifying the management and value implications of different lease terms.</li><li>Apply knowledge of a range of key legal principles in real estate practice using case-studies.  </li><li>Identify and evaluate the implications of a surveyor’s professional obligations, and the role of professional regulation and ethics.  </li></ul> <ul><li>Identify and apply relevant legal rules to issues in dispute.</li><li>Differentiate between fact and opinion.</li><li>Make judgements and produce solutions to real estate management problems.</li></ul> <ul><li>Draft heads of terms for a commercial lease.</li><li>Apply appropriate tactics to pro-actively manage real estate assets</li></ul> <ul><li>Read a range of complex works and summarise their arguments succinctly.</li><li>Design and compile a report for professional purposes.</li></ul> A range of teaching and learning methods will be adopted with conventional lectures used to introduce the topics in a structured manner. Workshops will be used to apply legal and management principles and to facilitate discussion about key issues commercial real estate theory and practice.All unit material will be available online. Formative feedback will be provided through Q&A, discussion and interactive activities within lectures and workshops. Verbal feedback will be available on coursework discussed during consultation hours and assignment surgeries. Where appropriate, the discussion board on the VLE will be used as a repository for FAQs. 2 Written assignment (inc essay) 25% 3 Report 75% Written or audio feedback via Turnitin within the standard timeframe specified by the University. N Banfield, A. (2005) Stapleton’s real estate management practice 4th ed. London: EG BooksGalbraith A. (2010) Galbraith’s Building and Land Management Law for Students Abingdon: RoutledgeMurdoch J. (2014) Law of Estate Agency London: Estates GazetteScarrett, D (2011) Property asset management 3rd ed. Abingdon: RoutledgeWood D., Chynoweth P., Adshead J. and Mason J. (2011) Law and the Built Environment Oxford: Wiley-Blackwell Lectures 11 Practical classes & workshops 22 0 167