Daily life of a Certified Property Manager as defined by the Institute of Real Estate Management (IREM).

1. Hire, manage and evaluate site personnel and/or off-site management staff or contracted management firms, directly or through others.

2. Identify staffing requirements and develop, or approve, job descriptions and/or develop and monitor, or approve, human resource policies and training and development plans.

3. Identify, implement and monitor, or approve, energy use/conservation programs for the property.

4. Determine which items or services are to be purchased for the property, prepare specifications, solicit and evaluate bids for contract services, negotiate or approve contracts, and monitor contracts.

5. Oversee operation of building systems, supervise employees or monitor contractors who perform routine maintenance and repair work, and/or oversee planning and construction of tenant improvements and interior design.

6. Design, implement and monitor, or approve, preventive maintenance programs for the property.

7. Establish or maintain and enforce the property's operating policies and procedures and occupancy/usage guidelines.

8. Establish, maintain and monitor adherence to, or approve, the property's record keeping system.

9. Identify, analyze and implement, or approve, capital improvement or replacement programs, including but not limited to maintenance or remodeling programs and resident/tenant improvements.

10. Perform regular property inspections and take appropriate action in accordance with established policies and procedures.

11. Design and implement, or approve, resident/tenant retention, orientation and property familiarization programs.

12. Routinely communicate with occupants of the property concerning level of service and other management matters and/or investigate and resolve resident/tenant complaints.

13. Administer the leasing and lease renewal process and/or negotiate or approve leases.

14. Prepare, market and show leasable space.

15. Prepare, approve or execute a marketing plan for the property.

16. Analyze market conditions and recommend, or approve the property's rental rates.

17. Design, implement or approve life-safety and emergency preparedness programs for the property.

18. Develop, implement or approve a risk management program for the property and/or identify the property's insurable risks and recommend, secure and monitor insurance coverage.

19. Recommend and/or initiate legal actions for violations of leases, contracts or governing documents, including but not limited to evictions and filing of liens.

20. Ensure the property's compliance with government and environmental regulations.

21. Process and/or monitor, or approve, property payables.

22. Supervise property collections, including the handling of property receipts, journal entries, records of account, bank deposits, and delinquent accounts.

23. Prepare, present and implement annual property budgets, including capital expenditure budgets, or review, authorize and monitor such budgets prepared by others.

24. Prepare, analyze or approve the property's financial and operating statements and variance reports.

25. Approve major deviations from the budget, exclusive of emergencies.

26. Identify and analyze the property's financial requirements and financing options, and/or replacement reserve requirements, and recommend funding sources to the owner.

27. Estimate and monitor the market value of the property and assess the implications that estimates of value have on the owner; determine the reasonableness of assessed value and insurable value.

28. Identify, analyze and propose alternate uses of the property and implement or approve a plan to change the property's use (e.g., converting a residential building to commercial use).

29. Read and interpret loan document requirements.

30. Establish or maintain management controls and analyze the property's performance.

31. Identify and recommend, or approve, real estate assets for acquisition or disposition.

32. Determine the goals and objectives of the property owner.

33. Evaluate real estate tax assessments and recommend an appeal strategy to the owner when appropriate.

34. Prepare a management plan for the property.

35. Identify and recommend, or approve, alternate sources of income for the property and implement programs accordingly.