North Seattle Community College____ s5

NORTH SEATTLE COMMUNITY COLLEGE _____ Business and Engineering Technologies Division

S Y LL A B U S

RES 203-01N – Property Management - Commercial Instructor: Michael S. Corbell Office: IB2415A Winter Quarter, 2009—Mondays 6:00 pm-9:00 pm Phone: 206 396-0902 Fax: 425-450-1076 Business Division: 206 527-3730 Room: IB3319 Office Hours: Mondays 5:30 to 6:00 pm Web site: www.realestate.northseattle.edu E-mail: [email protected]

COURSE DESCRIPTION: This course provides training in commercial property management. Discusses personnel policies, marketing, tenant management, property maintenance, security, collection, lease provisions, and recording keeping systems. (Fulfills 30 DOL continuing education clock hours.)

INSTRUCTOR BIO:

A property asset manager for GVA Kidder Mathews Property Services, Mr. Corbell presently co-manages a large medical office center and adjacent medical office buildings in Bellevue, Washington. His previous experience includes property management positions for TRF Management Services and Kennedy Wilson Properties Northwest at 600 Broadway Medical Center, First Hill Medical Center, Northgate North Shopping Center, Larry’s Bellevue Shopping Center, and Dash Point Shopping Center. Mr. Corbell has been a property manager since 1995 and began his career managing Denny’s Restaurants for 14 years prior to that. He is a graduate of Highline Community College with a degree in Business Administration and Management. Mr. Corbell is a licensed Real Estate Salesperson, member of Seattle’s Building Owners and Managers Association (BOMA) and has previously served as a guest lecturer for commercial real estate classes at North Seattle Community College.

LEARNING OBJECTIVES: Upon completion of this course, students should be able to 1. Explain elements of fiscal budgeting, income and expenses for commercial real estate properties. 2. Describe the sizes and types of Shopping Centers, tenant mix and budgetary considerations. 3. Define the components of the Commercial Lease document. 4. Describe the different marketing methods and techniques for successful marketing plans. 5. Gain practical knowledge in managing Commercial real estate property. 6. Compute basic real estate math problems, determining square footage and rent calculation.

NSCC GENERAL EDUCATION OUTCOMES MET BY COURSE: Outcome 1. Think critically in reading and writing. Outcome 2. Use quantitative reasoning processes to understand, analyze, interpret, and solve quantitative problems. Outcome 3. Access, evaluate, and apply information from a variety of sources and a variety of contexts.

TEACHING PHILOSOPHY: I offer learning experiences that facilitate student’s achievement of course learning objectives, clearly communicate expectations and I’m responsive to individual student’s learning styles and needs. It is my expectation that the student will assume responsibility for his/her learning by completing reading and assignments and actively participating in class sessions. My philosophy is learning should be fun.

TEACHING AND LEARNING STRATEGIES: • Class Discussions with Student participation • Guest Speaker • Lectures • Office-Site visit (Weekend Field Trip) • Directed reading of Material • Applied learning with hands-on projects and discussion • Two Extra Credit opportunities • Web enhanced learning; Discussion of Commercial Property Websites

REQUIRED TEXT: Managing and Leasing Commercial Properties / Alexander-Muhlebach 2007.

ADDITIONAL REFERENCES: Commercial Real Estate Websites.

CLASS MATERIALS: Calculator, #2 pencils, and scan-tron forms for one exam and extra credit projects.

GRADING SYSTEM: Based on the following: One Mid-term exam. One Final Exam worth 150 points. Two take-home projects worth 5 points each. Student Participation will be graded on attendance with 11 class sessions possible.

EXTRA CREDIT: Extra credit projects will be announced and discussed during class. Ten points of extra credit will be given to each student with perfect attendance. All extra credit projects are due on or before March 2, 2009. Some extra credit projects will be:

Brief Description Possible Points Brief Description Possible Points Field Trip 5 points each Attend Field Trip – February 8, 2009 5 points Extra Credit Project 5 points each Complete Lease Abstract 5 points Extra Credit Project 5 points each Complete Property Inspection Report 5 points

CRITERIA FOR CLASS PARTICIPATION: Contribute ideas, interact with peers and instructor, engage in class activities, maintain attention on class work, and come prepared for class (completed reading and assignments).

POLICY ON COURSE WITHDRAWAL: The instructor may initiate administrative withdrawals of students who do not come to class during the first week of the quarter in order to accommodate other students seeking entry into the class. Official withdrawal at other times of the quarter is the responsibility of the student.

CLASSROOM CONDUCT: Students are expected to comply with NSCC student conduct policy and procedures. Information on student responsibilities and rights is available at the following website: www.seattlecolleges.com/services. Cell Phone Etiquette in the Classroom: To avoid disruption of the learning environment, students are expected to turn off or silence cell phones during class.

AMERICANS WITH DISABILITIES ACT: If you need course adaptations or accommodation because of a disability; if you have emergency medical information to share with your instructor; or if you need special arrangements in case the building must be evacuated; please meet with your instructor as soon as possible.

ACADEMIC HONESTY: Academic honesty is highly valued at NSCC. A student must always submit work that represents his/her original words or ideas

ACADEMIC DISHONESTY COULD INVOLVE: 1. Having a tutor or friend complete a portion of your assignment. 2. Having a reviewer make extensive revisions to an assignment. 3. Copying work submitted by another student. 4. Using information from online information services without proper citation. 5. Taking exam answers from another student’s paper. 6. Using materials not allowed to answer any exam questions.

EXAMINATION CONDUCT: Students are expected to complete examinations without the unauthorized use of reference materials, notes, or classmates. CLASSROOM DIVERSITY STATEMENT: Respect for diversity is a core value of NSCC. Our college community fosters an optimal learning climate and an environment of mutual respect. We, the college community, recognize individual differences. Therefore, we are responsible for the content and tone of our statements and are empathetic speakers and listeners.

RESPECTFUL AND INCLUSIVE ENVIRONMENT: The instructor and student share the responsibility to foster a learning environment that is welcoming, supportive, and respectful of cultural and individual differences. Open and respectful communication that allows for the expression of varied opinions and multicultural perspectives encourages us to learn freely from each other.

FRAGRANCE POLICY: Students are encouraged to refrain from wearing heavily scented products during class sessions, since some individuals may experience chemical sensitivities to fragrances that interfere with their learning.

ATTENDANCE: Students, who anticipate absence from a class session are encouraged to email the instructor in advance prior to the absence. Repeated absence may interfere with the student’s class participation and result in a lower grade for that component of the course.

STUDENT SUPPORT SERVICES:

Students are encouraged to seek campus support services when necessary to support their learning and academic progress. Refer to student handbook, brochures/flyers, or college website for information about: Educational Access Office (accommodations) Tutoring Services Library Counseling Women’s Center Multicultural Services Office Wellness Center

HELPFUL WEB SITES FROM THE NSCC COUNSELING CENTER (527-3676)

* Taking Multiple Choice Exams: http://www.coun.uvic.ca/learn/program/hndouts/multicho.html * Tactics for Managing Stress and Anxiety: http://www.coun.uvic.ca/personal/stress.html * Dozens of other self-help topics: http://northonline.northseattle.edu/counsel/selfhelp.html

ASSIGNMENTS AND TEST DATES

Class Lecture Order

January 5, 2009 Course Review and Student Introductions, Course objectives, requirements and homework review

January 12, 2009 Overview of the Property Management Company

January 19, 2009 Annual and Fiscal Budgeting: Income and Expense Components, Tenant Expenses, Landlord Expenses, Revenue Collections and Net Operating Income.

January 26, 2009 Retail/Shopping Center Management: Discussion includes the many types, sizes, configuration, parking and other characteristics of Shopping Centers and Malls. February 2, 2009 Office/Medical Building Management: The Lease Agreement and Mutual Responsibilities

February 8, 2009 (Optional – Extra Credit Project) Field Trip & Tour to Overlake Hospital Medical Center (SUNDAY)

1135 - 116th Avenue NE, Bellevue, WA Meet at 10:00 a.m. in the Main Lobby Free Parking in the North Parking Garage

February 9, 2009 Marketing and Leasing Commercial Retail and Office Properties RES 203 Mid-Term Test Examination

February 16, 2009 Maintenance Requirements and Procedures for Properties.

February 23, 2009 Industrial Building Management and Leasing.

March 2, 2009 Building Emergency Procedures, Risk Management, OSHA, WISHA, L&I, Asbestos, Hazardous Wastes, Homework Due.

March 9, 2009 Marketing, Advertisement and Lease Agreement Document Components, Test Review

March 16, 2009 Course Summary and Discussion, Final Exam, Course and Student Evaluations

Course Requirements/Extra Credit

Attendance (minimum of 30 clock hours), student participation and completion of the Final Exam is required.

Each Class, Extra Credit Assignment and Field trip session count for three (3) hours each. A total of 36 possible clock hours are available. In the event that you are absent, submitting an extra credit project can count as one - three (3) hour class period.

Class Participation/Homework

Class Participation is expected of all students. Homework is voluntary but can count for up to five (5) points per assignment, which will be added into and factored into overall grading of students. Homework choices are:

1. An on-site, field inspection report on a commercial property of your choice.

2. Draft a Lease Abstract Summary (one or two pages, based on the Lease example provided) summarizing the term, conditions and important lease details.

Homework assignments may also be used to make up for missed class sessions (to a maximum of six missed hours or two missed class sessions.

Final Exam

Consists of 150 multiple choice and/or true-false questions. The student’s final letter grade will be a combination of test scores, class participation, attendance and voluntary homework. Students not completing the final exam or voluntary homework for missed class hours or sessions may be given a less than passing grade.

Field Trip Field trip is voluntary but attendance will count as extra credit points (5 points). It will be a walking tour of the properties inside and out, casual attire and rain gear is recommended.

Class Schedule / Instructor Availability

The instructor is generally available at (206) 396-0902 (cell) or E-mail at [email protected]. The class schedule may be subject to change. Class hours are 6:00 pm to 9:00 pm, NSCC main campus, IB Building, Room 3417.

Students will not be allowed to Audit the class. Some material distributed in class may be copyrighted. Neither NSCC nor the instructor will be responsible for errors in the preparation, distribution or presentation of materials or handouts. An important note about using these materials: these materials are teaching tools. They have been assembled for purpose of discussion. You should not rely on them as legal authority and you should consult with your attorney before relying on anything within these materials.

The forms and sample clauses contained herein are also for purposes of discussion and should not be used without analyzing the entire context of the deal and all pertinent contract terms. Some of the forms and sample clauses in these materials are purposefully (and sometimes aggressively) pro-landlord or pro-tenant to illustrate a point to demonstrate potential areas of negotiation. In the real world, getting a deal done often involves less aggressive or more neutral positions.

Neither NSCC nor the instructor is giving anyone advise, legal, accounting or otherwise. When in doubt, consult your attorney.