Description

SESSION	JUL-AUG 2024
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	06
COURSE CODE & NAME	DBB3322 RETAIL PROJECT PROPERTY MANAGEMENT AND CASE STUDIES IN RETAIL

 

 

Assignment Set – 1

 

 

1. Describe the duties of the property manager. Also, explain the characteristics of a property.

Ans 1.

Duties of a Property Manager

A property manager plays a crucial role in managing and maintaining real estate properties on behalf of the owner. Their primary duties include the following:

Tenant Management: Property managers are responsible for finding and screening tenants, negotiating lease agreements, and addressing tenant concerns. They ensure that tenants adhere to the terms of their leases and handle tenant turnovers efficiently.

Maintenance and Repairs: Regular maintenance and timely repairs are critical to preserving

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2. Explain the different sources for buying a property.

Ans 2.

Sources for Buying a Property

Buying a property is a significant financial decision, and understanding the various sources available can help buyers make informed choices. Below are the different sources for buying a property:

1. Real Estate Agents and Brokers Real estate agents and brokers are among the most common sources for property purchases. They act as intermediaries between buyers and sellers, offering expert advice and market insights. Agents have access to multiple listing services (MLS), which provide comprehensive property listings tailored to the buyer’s preferences.

 

 

3. Discuss the role of property in business & explain property life cycle.

Ans 3.

Role of Property in Business

Property plays a pivotal role in business, serving as a critical asset that supports operations, growth, and profitability. It provides a physical space for activities such as manufacturing, retail, warehousing, and administration. The type, location, and condition of the property can significantly impact a business’s productivity and brand image.

Foundation for Operations: Commercial properties, such as offices, factories, and retail

 

 

Assignment Set – 2

 

 

4. Explain the different ways to manage retail property.

Ans 4.

Ways to Manage Retail Property

Effective retail property management ensures the property remains profitable, attractive to tenants and customers, and compliant with legal and market standards. Below are the key ways to manage retail property:

1. Tenant Management Retail property managers must maintain strong relationships with tenants, ensuring their needs are addressed promptly while holding them accountable for lease agreements. This includes regular communication, resolving disputes, and monitoring tenant

 

 

5. Explain the factors affecting retail property value & describe the methods of property evaluation.

Ans 5.

Factors Affecting Retail Property Value

The value of a retail property is influenced by several factors, each playing a crucial role in determining its market price and investment potential. Key factors include:

1. Location Location is the most critical factor affecting retail property value. Properties situated in high-traffic areas, such as city centers, near public transportation, or within thriving commercial hubs, tend to command higher values due to their accessibility and visibility to potential customers.
2. Tenant Mix and Occupancy Rate The type and diversity of tenants occupying the property

 

 

6. List the types of maintenance of retail property. Give suitable examples.

Ans 6.

Types of Maintenance of Retail Property

Maintenance of retail property is crucial for ensuring tenant satisfaction, customer comfort, and the long-term value of the property. There are several types of maintenance practices, each serving a specific purpose. Here are the main types with suitable examples:

1. Preventive Maintenance Preventive maintenance involves regular inspections and servicing to avoid potential problems and extend the lifespan of property systems. Examples