Diary Summarising My First 26 Weeks as an Assistant Property Manager at a Firm in Inner Melbourne - Essay Example

Name: Instructor: Course: Date: Reflective diary As an assistant property manager, I helped the manager in day to day management of the properties in accordance with the management agreements, objectives, and goals of ownership, procedures and policies of management agency. The general responsibilities included; being in charge of monitoring the operations of the assigned properties, including maintenance and repair, tenant relation, budgeting, monthly financial reporting, owner relationship, and capital planning. In addition, I was responsible for administering bids and approving of all the maintenance and services contract and report to the manager. I also prepared manual budgets and the monthly reporting on the financial performance of the properties. In this report am going to outline the reflective diary for the first twenty six weeks at the Melbourne Inner City Real Estate (MICM). Melbourne Inner City Real Estate (MICM) Property has been operating in Melbourne city for 18 years as the number one real estate agency in Southbank. My work was primarily performed in an office setting though it also required physical ability to climb ladders and inspect varied properties. I also took orders from the property manager and the management and worked on them. I constantly informed the property manager and the management of the progress in the designated premises (Jaffe, 49). First week During the first week, I was oriented through the system of the Melbourne Inner City Real Estate by the property manager. The manager gave me a copy of what is expected of me as an assistant property manager. He also introduced me to the members of the board and fellow staff members. I had a task of familiarizing myself with the company’s phone calls, filing system, and mails. The manager delegated me to monitor tenant activities for compliance with the lease terms and applicable security requirements. I promulgated and enforced building operating regulation, including the use of the parking space and other common areas (Jaffe, 63). Week two I was assigned to conduct periodic inspections of assigned buildings and associated grounds. I visited each building in two weeks and was to prepare a written report monthly. I noted down the deficiencies during my first visits to the assigned buildings and the correct measures and maintenance required t the buildings. During the same week I determined the service contracts requirement in the assigned functional areas; window washing, pavement sweeping, elevator maintenance, interior land scaping, security, pest control, and refuse collection. I received a complaint from the tenant that the two week duration taken to collect the refuse was long thus it made them uncomfortable with the smell of the refuse. They requested for a weekly collection of the refuse, that I forwarded to the manager who later responded positively to the request (Jaffe, 69). Week three During the third week, I reviewed the daily security reports and initiated follow up actions appropriately. I also revisited the various buildings and made my report to the manager. Later on, I reviewed the monthly accounts receivable invoices for tenant support work. I assisted in collecting the overdue payments from the tenants. I also assisted the leasing agents to market the vacant spaces. I had to update the resident records, the rents, application fees and deposits from the resident. During the last day of the week I deposited all the receipts to the bank (Scarrett, 18). Week four In the fourth week, I assisted in typing the monthly reports and answered the incoming calls with diligence. I had a chance to welcome and show the property to three prospective residents. I determined their needs and preferences and provided them with features and benefits. With this exposure to handling prospects, I developed and organized a regular program of business outreach for them. We had a staff meeting at the end of the fourth week, where the property manager applauded me for my esteemed work and cooperation. By the end of this week, I was familiar with most of the job requirements of the company. I knew how to answer calls appropriately. I could identify the priority callers. I was aware of the approximate schedules and lunches of the office personnel (Scarrett, 22). Week five During the fifth week, I worked on the preparation of the financial statement. I put the checks in numerical order. I also put the bank statements in their numerical order. I filled the certification forms for two sales of property and kept two copies in the current escrow file. I updated the address and the telephone number later on in order to send a welcome letter and coupon books to the clients. On the third day of this week I updated the property manager’s files. I printed out a copy of changes made and gave it to the bookkeeper (Scarrett, 25). Week six During the sixth week, I supervised all the maintenance programs in relation to both the interior and the exterior conditions and appearances of the properties. I also gave a notice to the tenants to air out their needs in order for them to be addressed appropriately. I checked out how the refuse collectors were doing their job. I helped develop and administer the property operating plan and budget for the properties which were approved by the Director of Management Service and the property manager. I also updated the financial records of the real estate. On the fourth day of the week, the Director of Management Service directed me to attend a meeting of the regulatory agencies which I did and made a report to the property manager (Scarrett, 28). Week seven I participated in a training session on management skills and accountability for two days that was sponsored by the agency. Later in the week, I offered an on-the job training for the trainees and the subordinates. I also assessed the development of the trainees through observation of their working. I visited the building being constructed, assessed the progress and made a report to the property manager. I also went to the bank to deposit the receipts. I managed to advertise the vacant apartments and explained clearly the rules and regulations. We had one tenant moving out of the premises because of a job transfer. I was responsible for doing the paper work of clearing the tenant and also making sure that any damages cost incurred to the premises by the tenant were met. I send a detailed report of the tenant file to the property manager who approved his departure (Scarrett, 32). Week eight During the eighth week, I spend much time on balancing the financial records and updating the files. I also made plans to have a mentoring program that would help the newly hired employees to cope well in the system and develop according to the company’s policies and procedures. I also reviewed the employees and counseled them accordingly where necessary. I also worked together with the property manager and maintenance team to inspect the interior and exterior conditions of the environs and the premises for better service to tenants. I collected rent from the tenants and gave out receipts for the same. I took the daily receipts to the bank on the fourth day. On the final, day I finalized the checking the book records and made preparations for the staff meeting in the coming week (Downs, 88). Ninth week The first day of the ninth week, we had a meeting and reviewed the financial status of the real estate and also the progress of the buildings under construction. I tabled a written report of the inspection I had made on the progress of the building constructions and the maintenance proposal on the premises. We also reviewed the number of vacant apartments, compared the number of tenants that moved in and the number of tenants that moved out during the last month. The managing director again acknowledged me for making his work easy and being competent and flexible at the same time. During the second day of the week, I inspected the safety of the premises. I confirmed with the property maintenance team of the efficiency of the fire extinguishers, the alarm, and connectivity of the electric fence around the premises. I took the order of the replacement materials to the property manager for approval (Downs, 92). Week ten In the morning, I answered three calls from clients. One of the clients wanted to rent an apartment and the other two ordered for reservation of boardroom space. I documented the service request and gave a copy to the property manager. I organized the files according to the dates and of importance during the week. Some of the tenants complained of rats in the apartments. I organized a maintenance team that took control measures through spraying of pesticide in the possible breeding areas. I documented the list of late rent payers and their penalties and handed a copy to the book keeper and the property manager. I created a FAQ from the documentation of the response given to the tenants. By the end of the week I made a follow up of the progress of the control of the rats. I made the report to the manager that the maintenance team had managed to control the rats (Downs, 93). Week eleven During this week, I made an inspection of the buildings that were under construction and those that needed repair. I responded to emails from clients and also answered calls from clients. I processed application forms of some three clients and filed them. I updated the manager’s files with the new invoices. During the last day of the week, the property manager asked me to attend the regulatory board agency meeting on his behalf which I later made a detailed report of the discussed issues at the meeting. I also made a recommendation to the property manager to buy new litter bins as the ones that were present were old and worn out. I also went through each pending lease, checking each against a checklist and sought completion from the respective prospects (Downs, 95). Week twelve During the twelfth week, I wrote the work orders for maintenance of two apartments based on information from the tenants and my own observation. I gave a notice to the tenants of days the repairs were going to be made to the respective apartments after receiving the property manager’s approval. I answered to the messages, calls and emails from clients and the tenants. I also updated the property managers file with information about the expenditure of the repairs. I supervised the repairs on two consecutive days and also took the daily receipts to the bank. I inspected one of the buildings and made a report of the condition. I hired and supervised five lawn mowers to cut the overgrowing grass in three compounds of the apartments. During the last day of that week, I updated the financial documents, receipts and book records in preparation of the monthly meeting the following week. I collected rent and made receipts which I deposited at the bank (Downs, 99). Week thirteen We had a monthly meeting on the first day and discussed the progress of the constructions. We also discussed the financial status of the agency and proposed programs that could improve the incoming tenants and minimize the tenants’ evacuating. I had proposed the provision of wireless network which was approved by the board of members and the tenants committee after some lengthy discussion. The tenants were asked to pay an additional $ 50 per month to cater for the service which they positively agreed to. I filed the records of the hired technicians to install the wireless network and the expenditure incurred. I also updated the property manager’s file with the same. I supervised the installation of the wireless internet and confirmed its efficiency. I updated the records of keys holders; vendors and technicians (Brown, 67). Week fourteen I visited the construction site and made a report of the progress. I also took the time to inspect the safety and cleanliness of the environs of the various apartments and made a report of the findings. I noted out the need to plant grass in one of the fields in the compound which had a lot of dust. I updated the manager’s files and answered to the calls, emails, and messages from the clients. By the end of this week I received a total of five prospects that I showed them around the apartments and informed them of the policies and benefits. I filled the application forms of four of them and scheduled for their move-in. I updated the contacts and gave a copy to the book keeper and the property manager (Brown, 70) Week fifteen In the fifteen week, I reminded the tenants of their lease obligation and notified them of the expiry dates. I replenished the inventory and inspected some four apartments’ condition. I made a report of the condition and gave a copy to the property manager. I prepared the balance statements and notices for the tenants who paid rent late during the last month. I also updated the financial records and gave a copy to the property manager. I made the training program preparation for the new employees that were to be hired the following week. I deposited the daily receipts at the bank (Brown, 102) Week sixteen We had the monthly meeting and discussed the construction progress. One of the buildings was already completed the previous thus needed tenants and leasers to move in. the rate of move in had increased and we attributed that to the introduction of almost free wireless internet. The cleanliness and safety of the apartments is also high. I made inspecting, of the just completed building and assessed the quality of the finishing; the painting, cleaning of the windows, dusting the surfaces and cleaning the floors. The litter bins were put in place and confirmed that all the lighting system was efficient. I made the advertisement notices of the vacant apartment and prepared the application forms for the clients. Later in the week trained the hired employees in regard to what is expected of them and the agency’s policies. I collected rent and made receipts and later deposited the daily receipts at the bank (Brown, 103) Week seventeen I made a follow up of the progress of the newly hired workers and encouraged them to work harder. I received close to ten prospects in the week thus spend much time showing them around the vacant apartment and informing them of the benefits and policies of the agency. I prepared their application forms and updated the manager with a copy of the same. By the end of the week mi facilitated the moving in of five tenants to the new apartment and issued them the receipts of the rent. I updated the financial records, the contact records and gave a copy to the book keeper and the property manager. I answered to the messages, calls, and e-mails from clients and tenants and responded to their need accordingly. I made a report of the same and filed it. I deposited the daily receipts at the bank (Brown, 108). Week eighteen During the eighteenth week, I made visits to two construction sites and made a report of their progress. I inspected the condition of three other apartments and filed a report of the inspection. I updated the property manager’s files with information of the new applicants and the scheduled prospects. I this week I had eight prospects whom I showed around the apartments and informed them of the policies of the agency and the benefits. I did the paper work of the move-ins in this week and filed the records’ also answered to the clients and tenants calls and messages appropriately (Brown, 106). Week nineteen During the nineteenth week, I balanced the financial records and also updated the book records. I updated the new tenant information in the files and their contacts. I attended a two day conference on leadership skills. I scheduled a meeting with the staff members to discuss issues affecting them and make suggestions to what the agency could do to improve the work efficiency in realizing the objective s and goals of the agency. I made the record of the discussion and gave a copy to the property manager. I deposited the daily receipts at the bank and kept records of the same (Brown, 109) Week twenty We had the monthly meeting to discuss the financial status of the agency. We looked at the vacant premises and space and discussed ways to improve the advertising in order to increase the move in rate. We decide to buy the television airtime which I did and by the end of the week had an influx of prospects, leasers and tenants. We worked together with the other staff members to ensure all the clients were given the good service they deserved. I processed the application forms and gave receipts to the tenants and leasers. I collected rent, made receipts and deposited the receipts at the bank (Kyle, Robert C, and Marie, 23). Week twenty one I gave notices to the rent defaulters and informed them of the agency policies. I called for a plumber to attend to one of the apartment’s pipes that had burst. I supervised the repair and ensured tee water was accessible by the tenants in that apartment. I made a follow up of the refuse collectors who had delayed to collect the refuse on the designated day. They claimed of mechanical breakdown of the machine but the maintenance team took care of I updated the property managers file with the current financial records, the new contacts and address list of the clients, and the repairs made on the premises. I received rent from new tenants a, made receipts and deposited tem at the bank. I made payments for the agency bills and filed the payment documents and gave a copy to the property manager (Kyle, Robert C, and Marie, 28). Week twenty two During the twenty second week, I visited the two construction sites and made reports of the progress. I updated the property manager of the progress. I supervised the lawn mowers clear the fields with overgrowing grass. I updated the records of the move-in tenants which had increased so much with only ten rooms vacant. I supervised the growing of the grass in the dusty fields. I gave receipts for the delivery of fertilizers and fresh fertile soils supplied. I answered to the emails, messages and calls from clients and tenants and responded to them accordingly. I also documented the responds that could help in building of the FAQ. I deposited the daily receipts to the bank. I put out notice reminding the tenants of the agencies policies and rules ((Kyle, Robert C, and Marie, 30). Week twenty three During the twenty third weeks, I updated the financial records of the agency and filed the documents. I received three prospects who intended to move in the following week. I showed them around the premises and I informed them of the policies and benefits of leasing the apartment. I processed their application papers and gave a copy to the property manager. I also updated the contact book and gave a copy to the property manager and the bookkeeper. I received complains of blackouts in one of the apartment and asked the maintenance team to inspect the problem. The technical staff recommended for replacement of the fuses and other electrical appliances. I documented the complaint and forwarded it to the property manager with the order of the required appliances. The repairs were done the same day and I filed the receipts of the purchases. Week twenty four During the twenty forth week, we had the monthly meeting and the agency was so impressed with progress in terms of the move in and also the financial status of the agency. I collected rent and made receipts of the same. I deposited the daily receipts to the bank and updated the manager with the information. I visited some three apartments to inspect the environmental conditions of the apartments and documented the findings. One of the drainage system required repair and I requested the maintenance team to work on it. I supervised its repair and ensured that by the end of the day the repair was done. I attended to two prospects and showed them around the premises, educated them on the policy and the benefits of the agency (Kyle, Robert C, and Marie, 23). Week twenty five During the twenty fifth week, I attended a seminar on human relation and learnt how better to handle fellow employees, clients and tenants. I scheduled a meeting with my fellow employees and discussed the progress on the job. I insisted on cooperation the work place. I did the paper work for the three tenants that were moving out of the apartment in the following week. I gave a copy of the documents to the property manager and the book keeper. I received a request from one tenant for the replacement of the bulbs which I ordered the technician to do so on that same day (Scarrett, 54) Week twenty six During this twenty-sixth week, I made visits to the two construction sites and made a report of the progress. I updated the property manager’s file and made payments for the various bills of the agency. I received two prospects that I showed around the apartment and educated them about the policies and benefits of the agency. I also processed their application papers and scheduled when they were moving in. I updated the property manager with the new contacts and gave a copy too to the book keeper. I updated the financial records of the agency and deposited the receipts to the bank (Scarrett, 56) In conclusion, for the time I worked as an assistant property manager, the degree of the responsibility depended on the buildings and the property manager. The agency emphasized on a team approach and expected each employee to perform reasonable task or request that was aligned to the achievement of the agency’s objective. I assisted the property manager in implementation of the policies, programs and procedures that assured a well managed, maintained building with maximum placement on the positive response to the needs and concerns of the tenants, quality programs, environmental health and safety that are aligned to the owner’s objectives and goals. I helped out on record keeping and payment of the agencies bills. I also made daily deposits of the receipts to the bank and made prompt response to all issues and complains raised. I attended meetings as assigned by the property manager. An assistant property manager must be physically fit for an easier time in inspection of buildings under construction. Work cited Brown, Stephen. African real estate. Bradford, England: Emerald Group Pub., 2007. Print. Downs, James Chesterfield. Principles of real estate management. 12th ed. Chicago, Ill.: Institute of Real Estate Management, 1980. Print. Jaffe, Austin J.. Property management in real estate investment decision-making. Lexington, Mass.: Lexington Books, 1979. Print. Kyle, Robert C., and Marie S. Spodek. Property management. 7th ed. Chicago, Ill.: Dearborn Real Estate Education, 2005. Print. Scarrett, Douglas. Property asset management. 2nd ed. London: E. & F.N. Spon, 1995. Print. Read More