1

Chapter one in our Property Management text explains the three general categories of property management clients:

• Investor-owners
• Incidental (accidental owners)
• Institutional Owners

Provide a real world example (don't quote the book) of each from your life and mention their experience either good or bad. This could be a family member, friend, place where you work, your city, county or state. You can always go into the "Student Lounge" to chat with other students and ask how they are doing.

An example might be: my father owns an apartment building and loves it - great income and appreciation. Or my boss at work owns a building and hates it because of problems with tenants, crime, vandalism and maintenance.

• What does IREM stand for?
• Would it be an advantage for a property manager to join IREM?

Think About

Briefly research the three general categories of property management clients in the chapter and review the professional organizations that exist for the industry.