DBB3222 Retail Project Property Management and Case Studies in Retail

Description

SESSION	JULY – aUGUST 2024
PROGRAM	BACHELOR of business administration (BBA)
SEMESTER	VI
course CODE & NAME	DBB3322 – Retail Project Property Management and Case Studies in Retail
CREDITS	4
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

 

Assignment Set – 1^st

Questions

 

 

1. Explain the different ways to Manage Retail Property.

Ans:

Managing retail property effectively involves overseeing various aspects to ensure its optimal performance and value. Here are key ways to manage retail property:

1. Tenant Management

• Lease Administration: Draft, negotiate, and manage lease agreements. Ensure that all lease terms are adhered to and renewals are handled timely.
• Tenant Relations: Foster good relationships with tenants by addressing their concerns promptly, ensuring satisfaction, and facilitating open communication.
• Tenant Screening: Evaluate potential tenants for financial stability, business reputation, and fit with the

 

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2. State factors Affecting Retail Property Value & Methods of property evaluation.

Ans:

Factors Affecting Retail Property Value

1. Location
   • Traffic and Visibility: High foot traffic and visibility can enhance value. Properties located in busy commercial areas or near popular landmarks often command higher prices.
   • Accessibility: Proximity to major roads, public transportation, and parking facilities can positively impact value.
2. Property Size and Layout
   • Square Footage: Larger properties or those with an efficient layout can attract higher

 

3. Enumerate Maintenance of Retail property, give suitable examples.

Ans: Maintenance of retail property is essential to ensure it remains attractive, functional, and safe for tenants and customers.

Here’s an enumeration of key maintenance tasks along with examples:-

1. Exterior Maintenance

• Facade Cleaning and Repairs: Regular cleaning of the exterior walls, windows, and signage. Example: Power washing the building’s facade to remove dirt and grime.
• Landscaping: Maintaining lawns, shrubs, and flower beds. Example: Regular lawn mowing and seasonal planting to enhance curb appeal.
• Parking Lot Maintenance: Repairing potholes, repainting lines, and ensuring proper lighting.

 

Assignment Set – 2^nd

Questions

 

 

4. Describe the Duties of the property manager and characteristics of a property.

Ans:

Duties of a Property Manager

A property manager is responsible for overseeing the day-to-day operations of a property and ensuring it runs smoothly. Their duties typically include:

1. Tenant Management
   • Leasing: Advertise and show the property, screen potential tenants, and manage lease agreements.
   • Rent Collection: Collect rent payments, handle late payments, and manage security deposits.
   • Tenant Relations: Address tenant complaints and requests, ensure tenant satisfaction, and handle lease renewals or terminations.
2. Maintenance and

 

 

5. Explain the Different Sources for buying a property.

Ans: Each source offers different benefits and considerations:

1. Real Estate Agents

• Role: Real estate agents act as intermediaries between buyers and sellers. They can provide access to listings, market insights, and negotiation support.
• Benefits: Agents often have extensive local knowledge and can help navigate the buying process.
• Considerations: Agent fees or commissions may apply, typically a percentage of the purchase price.

2. Online

 

6. Discuss the role of property in Business & property life cycle.

Ans: The role of property in the business and property life cycle is crucial as it intersects with various stages of development, management, and utilization. Here’s an overview of how property plays a role at different phases:

1. Acquisition and Development

• Site Selection: Businesses often need to acquire property for their operations, such as offices, factories, or retail spaces. The location and type of property are critical for ensuring operational efficiency and market reach.
• Zoning and Permits: During acquisition, businesses must navigate zoning laws and obtain necessary