BBR602-Retail Project Property Management and Case Studies in Retail

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ASSIGNMENT

DRIVE WINETR	FALL 2017
PROGRAM	Bachelor of Business Administration- BBA
SUBJECT CODE & NAME	BBR602-Retail Project Property Management and Case Studies in Retail
SEMESTER	6
BK ID	B1941
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1.Explain the duties of Property Manager

Answer : Property managers are responsible for setting the initial rent level, collecting rent from tenants and adjusting the rent.

Setting Rent- the property manager knows how to set the right rent level to attract tenants to your property. They have an understanding of the market where the property is located and have looked at comparable properties in the area.

Question. 2. Define a property management plan. What are the steps for formulating it?

Answer: Strategic planning is a process undertaken by an organization to develop a plan for achievement of its overall long-term organizational goals.

Model: There is no one model of strategic planning. However, the strategic planning process should include a situational analysis. This consists of looking at the current external and internal environment the organization finds itself in, formulating organizational objectives and strategies based upon the environmental assessment, and developing procedures to

3  How to evaluate the performance of a property as an investment asset?

What are your minimum requirements? Property management companies should have a set procedure that involves checking a potential tenant’s credit reports, criminal report, verifying a tenant’s ability to pay on time with their current landlord and checking on employment and income.

Hopefully advertising is through multiple forms of media – internet, craigslist, signs, newspapers, etc.

How do they handle collecting rent and how do they send you the rent? Do they mail the check, or submit payment electronically?

4 Define lease. What are the different types of lease payments?

ANSWER: Capital Lease

A Capital Lease is one which transfers substantially all of the risks and benefits of ownership of the leased property to the lessee, and may be your best choice if long-term equipment ownership is your goal. According to the Canadian Institute of Chartered Accountants handbook, a lease will be treated as a Capital Lease (i.e. be categorized on your balance sheet as a long-term liability, interest expense on your income statement) if it meets any of the following criteria:

·       Title passes automatically to the lessee at the end of the

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5. What are the determinants of retail property value?

Answer : Rental value of retail properties is determined by some macroeconomic factors and also influenced by broader influence from other property sectors and industries.

Household Income

Rental value of retail properties is primarily driven by the purchasing power of households, and the purchasing power of household depends on household income from work which comes from firms, so household income determines rental value

Question. 6. Write short notes on:

a) Special Economic Zones

Answer: A special economic zone (SEZ) is an area in which business and trade laws differ from the rest of the country. SEZs are located within a country's national borders, and their aims include: increased trade, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically regard investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing in a zone they are granted a period of

b) Future design of retail stores

Answer: “What’s influencing new retail experiences are integrated technologies that literally affect the space and the way someone might shop or transact,” Shapleigh says. Examples include:

·       Mobile point of sale. The proliferation of mobile payments and mobile point of sale (POS) systems means more retailers will replace traditional sales counters, with tablet-bearing sales associates deployed throughout the store.

·       big_data_in_retail_mobile_point_of_saleVirtual reality. Retailers can use virtual reality (VR) headsets to conduct immersive product

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