物业理英语第讲:Property Management
Property management is the process of overseeing the operation and maintenance of real property to achieve the objectives of the property owner Sometimes owners manage their own property particularly small properties and particularly when they themselves occupy part of the space But for larger properties or those whose owners live at a distance management is usually performed by a paid property manager either an individual buildings on longterm leases where tenants maintain the building pay the taxes and insurance
and mail the owner a check each month But most residential office retail and many industrial properties offer services along with the space over time
Property management has long been an underrated function in the real estate industry The need for professional management did not become apparent until the depression of the 1930s when numerous foreclosures revealed a pattern of management deficiencies This oversight might seem strange since running a large commercial or residential project in which hundreds or thousands of people reside or work is a highly challenging task calling for training good judgment variety of technical skills Traditionally however emphasis in the real estate industry has been on the so permanent elements of the investmentgood location construction and reasonable longterm financingthan on the daytoday operation of the property It has sometimes seemed as if a property owner having made a very large investment in the permanent structure assumed that the property would run itself with a minimum amount of supervision
This concept of property management has changed substantially in the past decade In an era of rising costs it has dawned on owners that good property management is the major controllable influence on residual cash flow (i e the number of dollars that end up in the owner’s pocket) It is true that both rent rates and operating expenses are largely shaped by market forces beyond the control of any one property owner (witness the very sharp rise in energy costs in the 1970s) But it is also true that comparable properties within the same geographic area often show significant variances in rental income and operating costs Why Close inspection often shows that aboveaverage operating expenses and lower than average rent levels result from inadequate property management
The classic mistake of the stock and bond investor moving into real estate involves underestimating the importance of management Some investors have the feeling that real estate manages itself
There is a story about the importance of property management A San Francisco real estate broker recently noticed a project that was on the market for 1 million He knew how the property had been managed in the past and that the million dollar valuation was based on a capitalization of historic income figure He borrowed money to buy the property renegotiated certain leases and established more efficient operating procedures In six months he sold the property for 14 million based on the capitalized value of the new higher net income His contribution was management expertise
Useful Expressions
at a distance 远处
along with ……道加
call for 需求
rather than
dawn on 开始()理解渐渐()明白
end up 结束结尾停止
result for ……结果
be based on 基……根
Notes
1 Property management is the process of overseeing the operation and maintenance
of real property to achieve the objectives of the property owner
句中动词定式to achieve the objectives of the property owner作目状语
property management物业理
real property 房产
property owner 业
2 …or those whose owners live at a distance management is usually performed
by a paid property manager either an individual or a management firm
句中关系代词whose定语句中充定语该定语句修饰指示代词those
Either…or表示选择连接两列词词组独立分句句中either…or连接成分a paid property
manager 位语作进步解释
3 there are exceptions…buildings…where tenants maintain the building
on a longterm leases pay the taxes…
句中关系副词where定语句中作点状语引导定语句修饰buildings
on a longterm leases意长期租赁
4 Property management has long been an underrated function…
Long句中副词作时间状语underrated分词作function定语
5 not…until意 直……例:
The baby did not go to bed until his mother came back home
6 …since running a large commercial or residential project in which hundreds
or thousands of people reside or work is a highly challenging task…
句中关系代词which定语句中作状语引导定语句修饰project highly修饰challenging意非常
a highly challenging task 意非常具挑战性务
7 …as if a property owner having made a very large investment in the
permanent structure assumed…
句中having made a very large investment in the permanent structure作置定语修饰a
property owner该短语分词完成时形式表示动作发生谓语动词前例:
The idea having been put forward by Tim aroused much objection among
the students
8 in the past decade十年里
9 the major controllable influence on residual cash flow剩余现金流量控制影响素
10 beyond the control of any one property owner业控制
11 aboveaverage operating expense超般水运营开销
12 lower than average rent levels 低般租金租金水准
13 Some investors have the feeling that real estate manages itself
句中that引导位语句修饰feeling feeling意 感觉预感
14 on the market (商品)市
15 in six months 意 六月介词in引导时间状语句子里谓语时诚时例:
I will pay the bill in a week 星期付帐
物业理英语第二讲:Properties Requiring Management
The level of management a property needs increases with the level of services
and with the frequency that tenants turn over Some examples of ddifferent
managerial responsibilities and problems follow organized by type of space
To the extent that property management involves tenant relations residential
properties present the greatest challenge The space leased by the residential
tenant is home where the tenant and other family members spend a substantial
amount of their free time and the rent for which may represent the tenant’s
largest single financial obligation Consequently the residential tenant
expects a wellrun property with services and utilities available as promised
at rents kept as low as possible (among other reasons because residential
rentals are not tax deductible as are business rentals) On the other side
of the coin one or two bad tenants in a project can be a continuing source
of vexation to the property manager and to the other tenants
The relatively short term of a residential lease means that the property
manager is under continual pressure to maintain a high renewal rate in
order to avoid vacated units that must be repainted repaired and released
in as short a time as possible A property that is theoretically fully
rented may nevertheless lose a substantial amount of rental income if
turnover is very high and more than a few weeks elapse before each new
tenant moves in
Among the types of residential properties are (1) apartments (2) condominiums
and cooperatives and (3) singlefamily homes
The personal relationship between manger and tenant can be crucial to maintaining
high occupancy Turnover of tenants results in higher operating expenses
and lower rentals collected Asking fair rents and responding to tenants’
needs (e g maintenance and repairs) are often the most important variables
in successful apartment management
The least involved homes The owner may have moved rental of singlefamily
homes The owner may have moved away for business or other reasons with
the intention of returning at a later date to occupy the house or may be
holding the property as an investments In either case the owner retains
a local agent to collect rent pay real estate taxes and debt service
and handle any problems that may arise This type of management is frequently
performed by real estate brokers who charge a fee equal to a percentage
of each month’s rent
Useful Expressions
turn over 转变转换转作
to the (such an ) extent that……程度……
move in 搬入(住宅)(某)搬进
respond to 回应反应
be similar to ……相似
deal with 处理
argue for 赞成
hold down 压低控制
Notes
1 ……with the level of services and with the frequency that tenants turn
over
句中两with引导两伴状语意着例:
The air pressure varies with the height and the water pressure with
the depth气压着高度变化水压着深度变化
2 by type of space 空间种类
3 …where the tenant and other family members spend a substantial amount
of their free time and the rent or which may represent the tenant’s largest
single financial obligation
句中关系副词where引导非限定性定语句修饰home词该句中含定语句关系代词which充介词for宾语先行词rent
该词定语句for which may represent the tenant’s largest single financial obligation修饰
4 a wellrun property 营物业
5 … with services and utilities available…短语中available作置定语意服务设施
6 as low as possible 低
7 …because residential rentals are not tax deductible as are business
rentals…
句中as 承接前面句子意……样as引导句谓倒装例:
He plays football as does his uncle 叔叔样会踢足球
8 on the other side of the coin 方面言
9 under continual pressure 处断压力
10 high occupancy 指房屋出租率高出租率高意味着物业理会业带丰厚回报
物业理英语第三讲:Office Building Management
The property manager of an office building must be familiar with more complex
lease provisions than those used for residential properties For example
the office building tenant is very much aware of paying a rent rate measured
by the square foot and so the measurement of space becomes an important
consideration One frequently used measure is rentable area or rentable
space The manager must understand how to compute it For example are
the bathrooms and hallways an added load factor with the tenant paying
for her individual space plus her share of these common areas Does the
manager measure a tenant’s space to the inside wall the outside wall
or the center of the wall In addition escalation and costoflivingclauses
are common in office buildings and frequently are negotiated with each
individual tenant The answers are in the leases The property manager
must be enough of a lawyer to read them enough of an engineer to be sure
the services (e g elevators) work as promised enough of a marketer
to sell to the tenant on the quality of the services he provides and enough
of a financial accountant to report it al to the owner
When leasing space the property manager should bear in mind that the value
of an office building is directly related to three interlocking elements
(1) the rate per square foot (2) the quality o the tenancies and (3)
the length of the leases The higher the rental rate the higher the gross
income The more creditworthy the tenant the more assured the owner may
be that rents will be paid Finally the longer the lease term the lower
the risk of vacancies and turnover problems in the future With longer
term leases it is more important to have appropriate escalation clauses
or expense passthrough provisions for the opportunities to increase base
rent to cover increased operating costs are less frequent
In office building management service is particularly important The property
manager is responsible for making sure the premises are kept clean and
secure that elevator run reliably that utilities work and that the structure
looks (and is) well maintained To many office tenants the amount of rent
is secondary to the efficient provision of these services
Today’s larger buildings are getting smarter They have computerized
controls to handle heating and air conditioning loads to minimize energy
consumption Elevators are programmed to meet peak loads The fire system
is tied to the publicaddress warning system sprinklers and air pressure
Infrared sensors may turn lights on and off as they sense people entering
and leaving rooms Telecommunications using fiber optics can create data
highways between distant locations either in concert with public telephone
systems or independently Telecommunications options are expensive and
can be costjustified only when operating management helps tenants ensure
their full utilization
Useful Expressions
be familiar with 熟悉
be aware of 知道解
bear…in mind 牢记记住
make sure 确信保证
be secondary to 居次属
turn on 开(灯电视收音机等)
in concert with 致(……)协力
Notes
1 The property manager of an office building must be familiar with more
complex lease provisions than those used for residential properties
句中较结构more complex lease provisions than those used for residential
propertiesthose代前文提lease provisions 分词短语used for residential
properties修饰those 作定语
2 …a rent rate measured by the square foot
分词短语measured by the square foot作rate定语介词by表单位名词间意……计量表单位名词前通常加定冠词the例:
Is this cloth sold by the meter 块布米计价出售?
3 …an added load factor with the tenant paying for her individual space
plus her share of these common areas
An added load factor 意增加负担素’
句中with+名词+分词固定结构常常作方式伴状语例:
The soldier headed for the village with a group of children running after
him
her share of these common areas意公面积均摊
4 The property manager must be enough of a lawyer to read them enough
of an engineer… enough of a marketer…
句中四次重复enough of +名词……构成行结构达强调效果Enough修饰of +名词定式短语作lawyer
engineer marketer accountant定语
5 three interlocking elements相互作三素
6 The higher the rental rate the higher the gross income租金越高毛收入越高
句较级结构较表语句中省略谓语动词isThe gross income意毛收入
句句型 the +较级the + 较级 the more…the more…意越……越……例:
The more the better越越
The smaller the house is the less it will cost us to heat房屋越花取暖开支越少
7 …the more assured the owner may be that rents will be paid
句中assured形容词正常语序 the owner may be more assuredthat引导句表语句句译:业更加确信租金会予支付
8 …for the opportunities to …are less frequent
句中for 作连词意for连接句子放句例:
I caught a cold for I had been walking around in the rain
9 …the premises are kept clean and secure
Clean and secure句中作语补足语该句译:保持物业区整洁安全
10 The property manager is responsible for making sure… that elevators
run reliably that utilities work and that the structure looks( and is)
well maintained
句中making sure四宾语句第宾语句外余三均连词that引导
11 to meet peak loads满足高峰负荷
12 Telecommunications using fiber optics can create data highways between
distant locations…
分词短语using fiber optics作telecommunications定语意光纤电缆电信Data highways意信息高速公路
物业理英语第四讲:The Management of Different Types of
Properties
Retail complexes
For large retail complexes and particularly for shopping centers competent
property management is extremely important
First maintenance of the property itself requires substantial work Each
day large numbers of shoppers visit the premises generating a great deal
of rubbish and inflicting wear and tear on the improvements Besides maintenance
daily security is an essential service
Second the property manager must keep alert to possibilities of making
the premises more attractive and to the need to renovate and modernize
selling areas Fierce competition for retail business means constant efforts
must be made to have customers return as often as possible In addition
whenever new tenants lease space renovation is required to suit the premises
to the new user
Third the property manager performs an important function in obtaining
a proper tenant mix for the retail complex Too much competition among
similar uses may mean business failures for the tenants and a negative
cash flow for the landlord Ideally the various tenants should complement
each other so that a shopper coming to one store will find related products
or services in adjacent stores
Finally retail leases frequently contain percentage rent provisions by
which the landlord is entitled to additional rent based on a percentage
of gross sales over a specified minimum The property owner must be prepared
to negotiate the most favorable terms for the owner and also to ensure
that percentage rents are correctly computed and paid as they come due
Estimated rental income is derived as from the historical experience of
the building as well as from market trends discerned by the property manager
in large retail complexes and shopping centers For example if the current
market rent for comparable space has risen above the contract rent currently
being charged under existing leases the property manager will project
an increase in rental income as leases expire the property manager is
expected to keep current on rent levels charged for comparable space(
Note that the property manager by virtue of his or her expertise is an
excellent source of information for a prospective purchaser establishing
an investment pro forma)
Useful Expressions
a great deal 许
inflict … on 施加(击损害等)
be alert to 警觉留心
make efforts 努力
be entitled to (……)权利(资格)(某)
base…on ……基础
derive from ……起源
A as well as B BA
by virtue of …………
Notes
1 Each day large numbers of shoppers visit the premises generating a
great deal of rubbish and inflicting wear and tear on the improvements
句中分词短语generating a great deal of …作伴状语
Wear and tear处名词意 磨损裂缝
2 Second the property manager must keep alert to possibilities of making
the premises more attractive and to the need to renovate and modernize
selling areas
Keep alert to 接两宾语possibilities the need to 处介词
make+名词+形容词英语中常句型形容词结构作宾语补足语例:
This news made me so happy
3 Fierce competition for retail business means constant efforts must be
made to have customers return as often as possible
句中mean宾语句句中语effort动作接受者谓语动词动语态make作谓语构成复合结构句型:make
+ 名代词+do该结构谓语动语态时句型:be made + to do例:
His mother’s death made him quit his research work母亲世中断研究工作
该句改:He was made to quit his research work by his mother’s death
Have customers return复合结构句型 have+名词+do例:
His friend had him pick up Sally on his way to school
as often as possible常
4 a proper tenant mix 处指承租户营范围种类应样化便竞争该短语译合适租户组合
5 a negative cash flow负现金流量
6 …so that a shopper coming to one store will find related products…
so that 引导目状语句例:
She studies hard so that she will not fail to live up to her mother’s
expectation努力学辜负***期
7 …retail leases frequently contain percentage rent provisions by which
the landlord is entitled to…
句中关系代词which充介词by宾语先行词provisions 该词定语句by which the landlord
is entitled to …修饰by 意percentage rent provisions百分分成租金条款
gross sales 总销售额
8 …as they come due
they 指percentage rents as作连词引导时间状语句意……时候例:
As she was running a man stopped her and asked her to do him a favor正跑步时位男士拉住请帮忙
come due意期该句型:come+形容词例:
Your dream will come true some day 梦想总天会实现
9 Estimated rental income is derived from…as well as from market trends…
as well as 连词意……连接等成分例:
Patrick speaks Spanish as well as English and French 帕翠克会讲英语法语会讲西班牙语
10 market rent市场租金指租金价格行情变化变化
11 above the contract rent 高合价格
above意较……超例:
The temperature is above average this winter年冬天气温超均温度
12 As noted earlier the property manager is expected to keep current
on rent levels
as作关系代词引导定语句句中as引导非限定性定语句谓语is 省略as指句整句子manager is
expected…例:
As has been announced we must hand in our term papers before the tenth
of June 通知务必六月十日前交学期文
物业理英语第五讲:Industrial and Hotels
A more specialized type of management is involved with industrial propertythat
is buildings that are used primarily for manufacturing or warehousing
and that may also include a limited amount of office space Much industrial
property is either built or altered to meet the specific needs of a tenant
who normally will sign a longterm lease (e g 10 to 20 years) enabling
the landlord to recover the special costs involved Such specialpurpose
buildings usually require only a minimal amount of management by the landlord
since they are frequently leased on a net basis with the tenant responsible
for operating expenses including real estate taxes and insurance
On the other hand some types of warehouse space are let on relatively
short terms to more than one tenant In this type of situation the landlord
may be responsible for maintenance and repair and must also anticipate
the need to market the space at frequent intervals One of the most important
cash flow items of the late 1980s was the increasing cost of tenant alterations
necessitated by tenant rollovers In the 1990s a critical property management
function will be to service existing tenants and find the right new tenants
with an eye to keeping down the cost of tenant improvements In the increasingly
competitive space markets apartments office retail and industrial new
leases usually provide for significant tenant improvements Even on industrial
properties traditionally the type requiring the lowest tenant improvement
tenant improvements on a rollover can equal one year’s gross rent Consequently
keeping down rollovers (and therefore the cost of tenant improvements)
is a primary objective of the cash floworiented owner
In the hospitality industry service is crucial This and the frequent
turnover of guests (often daily) mean that hotels and motels require more
constant management than any other category of space we have considered
In many cases convention business is major source of revenue As a result
hotel and motel management includes food service and entertainment as well
as the typical property management functions Marketing is first in importance
The lease period is so shortone nightthat management must find tenants
for space vacated daily Management skill creates value as much as does
the physical property
For the hospitality industry maintaining security is an allencompassing
endeavor not limited to property managers Matters relating to the physical
plant staff and operation in general affect the protection of the property\'s
assets and its guests and employees Anything less than a propertywide
view of security and the resolution and disposition of security problems
leads to inefficiency needless expense and great potential for harm to
employer and guests
Notes
1 A more specialized type of management is involved with industrial propertythat
is buildings that are used primarily… and that may also include…
破折号插入语industrial property作进步解释两that引导定语句修饰先行词buildings that
is等that is to say意换句话说例:
Our foreign teacher will leave for New York next Monday that is July
7th外教星期七月七日启程纽约
2 Much industrial property is either built or altered to meet the specific
needs… enabling the landlord to recover the special costs involved
句中either…or连词连接语法结构相单词单词短语短语句句等例:
You may stay either in a hotel or in a private house住旅馆里者私家里
enable+名词+动词定式固定句型例:
His salary enabled him to support his family薪水供养家糊口
3 Such specialpurpose buildings usually require… since they are frequently
leased on a net basis…
since 作连词引导状语句 意例:
Since you are unable to answer perhaps we should ask someone else够回答应找
on a net basis 处指业租户关系单纯译净租基础
4 On the other hand some types of warehouse space are let on relatively
short terms to more than one tenant
句中are let to sb谓语动语态形式let 句型let +名词+to+名词意出租例:
The landlord wanted to let this apartment to a young couple房东想套公寓租年轻夫妇
5 …and must also anticipate the need to market the space at frequent intervals
动词定式短语to market the space…作need定语market动词意出售(……)推出市场need定语果动词般动词定式例:
Is there any need to explain further 没必作进步解释?
at frequent intervals常常常
at…interval间换形容词short regular等
6 In the 1990s a critical property management function will be to service
existing tenants and find…
句中两动词定式短语作该句表语中find前省略定式符号to service作动词意提供……服务existing
tenants 意现租户
7 In the increasingly competitive space marketsapartments office retail
and industrialnew leases usually provide for significant tenant improvements
句中increasingly修饰形容词competitive破折号apartments office等插入语作进步解释
8 Even on industrial properties traditionally the type requiring the
lowest tenant improvement tenant improvements on a rollover can…
句中type作properties位语分词短语requiring the lowest tenant improvement作type定语
9 Anything less than a propertywide view of security and the resolution
and disposition of security problems leads to …
句中less than知识构成定语修饰anything中security resolution disposition作介词of
宾语
less than意低较少
物业理英语第六讲:PropertyManagementFunctions
物业理英语第六讲:Property Management Functions (Ⅰ)
Having looked at how requirements for management vary by property type
we will now examine a manager’s daytoday duties in more detail Like
many working people a property manager wakes up in the morning dresses
for work eats breakfast and drives to an office (either on or off the
managed premises) Once there what does he or she do We will first list
all of the functions and then cover the most important ones in greater
detail
MAKING A MANAGEMENT PLAN
As the agent of the property owner the property manager is bound to carry
out the owner’s objectives Making explicit those objectives is the first
step in creating a management plan
As we have seen properties under paid management may be very small or
they may be multimilliondollar complexes A management plan can be equally
simple or elaborate as suits the scope of management and the market area
of a property Regardless on size it is important to make a plan (which
could range from a handwritten half page to 50 pages typed and bound depending
on the project…) Here we should note that a management plan for any size
property contains three points (1) an analysis of the competitive environment
(2) an analysis of the property itself and (3) enumeration of the owner’s
objectives and recommendations for achieving them
MAKING A BUDGET
A manager collects money pays the bills and sends what is left to the
ownerin millions or hundreds A budget is essential for two reasons (1)
to regulate cash flowthat is to make sure sufficient cash is on hand
to meet obligations like taxes mortgage payments operating expenses
and special capital improvements (e g new roof) when needed and (2)
to measure performance to act as a standard for measuring the manager’s
success in meeting objectives
PAYING EXPENSES KEEPING BOOKS AND RECORDS
The property manager must see to it that operating expenses real estate
taxes insurance premiums and mortgage payments are paid when due Depending
on the arrangement a manager may be authorized to sign checks or may only
prepare a list of payments for the owner’s attention The manager also
keeps records of income and outlays and works with the owner’s accountant
in preparing annual financial statements and tax returns The manager may
also be responsible for reports required by government authorities
Useful Expressions
in detail 详细
wake up 醒
is bound to 责(义务)……
carry out 贯彻执行
regardless of 顾
range from…to 某幅度范围变动
depend on
make sure 确信务必
on hand 现手头手边
act as 充
see to 注意……务必保证
Notes
1 Having looked at how requirements for management vary by property type
we will now examine a manager’s daytoday duties in more detail
句中分词短语having looked at…完成形式表示动作发生句谓语动词前该分词短语句中作状语关系副词how引导名词句作look
at 宾语例:
No one tells m how I should solve such kind of problems in school
2 either on or off the managed premises
者者理物业
3 Once there what does he or she do
句中once there省略句once作连词引导时间状语句正常语句应Once he or she is there
例:
Once you arrive in Los Angeles please call me as soon as possible
4 As the agent of the property owner the property manager is bound to
carry out the owner’s objectives
as 作介词意作接名词例:
As parents we are concernal for our children’s future
be bound to 固定搭配意负……义务(责)通常句式 be bound to + do… 例:
You are bound to obey the law if you are a good citizen
5 Making explicit those objectives is the first step in creating a management
plan
该句宾语补足语提前正常语序The first step in creating a management plan making those
objectives explicit
6 A s we have seen properties under paid management may be very small…
as 引导句承接前示持续句容该句译:正例:
7 A management plan can be equally simple or elaborate as suits the scope
of management and the market area of a property
句中as 作关系代词意情况承接前面句子容例:
The man was a teacher as was evident from his way of speaking 男说话样子明显出老师
8 from a handwritten half page to 50 pages typed and bound句意手写体半页印装订50页bound动词bind分词
9 …and sends what is left to the ownerin millions or hundreds
句中what引导名词句作动词send宾语what句语动作承受者谓语动语态to the owner作send宾语该部分译:剩送业
10 The property manager must see to it that operating expenses …and mortgage
payments are paid when due
句中see to it中it作形式宾语真正宾语that引导句See to it that直接see that 表示省略to
it例:
See (to it) that you always carry your passport
when due 省略句完整语句应:when they are due they指前面提种支付费
11 The manager also keeps records of income and outlays and works with
the owner’s accountant in preparing annual…and tax returns
句中keep record of 接两宾语income outlay workkeep行谓语
tax returns 意退税
物业理英语第七讲:Property Management Functions(Ⅱ)
Showing and renting space
Although marketing real estate is a function distinct from managing it
the two are often combined in the hands of the property manager or management
firm In the case of apartment buildings the manager actually on the site
(the resident manager) usually shows vacant apartments and may handle lease
negotiations as well In the case of commercial or office space leasing
is often performed by specialists within a property management firm or
may be handled by a separate brokerage firm
Because of the importance of leasing and the expertise and special effort
required to do it well a property manager who handles the lease function
often receives a commission over and above his regular management fee
The leasing function can be classified into three steps all or some of
which may be performed by the property manager or management firm
SETTING RENTAL LEVELS A rent schedule should be established with the objective
of maximizing future rental income from the property Setting rents is
far from an exact science it calls for the exercise of good judgment based
on a knowledge of rent rates and available space in comparable buildings
as well as the features functions and benefits of both the subject property
and competing space A technique used by many professional property managers
is the baseunitrate approach This involves choosing a standard unit
in an apartment building (eg a twobedroom apartment on the sixth floor)
or a specified number of square feet in an office or derived from a study
of the market with adjustments for differences between the particular property
and its competition (For example a newer building normally commands higher
rent for space than an older building all other things being equal) Within
the particular building rent rates will vary depending on the relative
merits and deficiencies of each unit For example space on higher floors
usually floors offer the amenities of less street noise and a better view
SOLICITING PROSPECTS The second step in the leasing process is to advertise
space in appropriate media (whether billboards newspapers radio or television)
and show in a perfunctory way this task should properly be regarded as
the time for intensive personal selling on the part of the leasing agent
To sell space effectively the leasing agent must not only be familiar
with every detail of the property being shown but also should ascertain
the precise needs and desires of the prospect
NEGOTIATING AND EXECUTING LEASES Finally the property manager will be
involved to a greater or lesser extent in the negotiation and execution
of the lease In the case of an apartment project where standard form
leases are used and little negotiation normally occurs the manager may
perform the entire process On the other hand a longterm lease of several
floors in a major office building will require the efforts of both legal
counsel and the owner Even here however the property manager plays an
important preliminary role because of his initial contacts with the tenant
Useful Expressions
distinct from 性质
in the case of ……情况
on the site现场
because of
far from完全远远远离
call for 求
derive from ……
regard as 认作
be familiar with 熟悉
play an important role 发挥重作
Notes
1 Although marketing real estate is a function distinct from managing
it the two are often combined in the hands of the property manager or
management firm
句中形容词短语distinct from managing it 作function定语the two处指marketing real
estatemanaging real estate
2 In the case of apartment buildings the manager actually on the site
(the resident manager) usually shows vacant…and may handle lease negotiation
as well
in the case of 意 ……说……名词
例:
In the case of a physical change no new substance is found
物理变化说会发现新物质
as well 意样作副词例:
Larry sent me a coat and some chocolates as well 拉利送件衣巧克力
3 Because of the importance of leasing and the expertise and special effort
required to do it well a property manager who…over and above his regular
management fee
because of 接名词名词短语句中because of 接三宾语the importance of leasing
the expertisespecial effort分词短语required to do it well作effort定语
over and above his regular management fee超高正常理酬金
4 The leasing function can be classified into three steps all or some
of which may be performed by the property manager or management firm
all of which…some of which英语中常见句子结构句中all or some of which which引导定语句may
be performed by the property manager or management firm 修饰three steps例:
The houses all of which had been damaged by the flood were rebuilt by
the Red Cross洪水中毁坏房屋红十字会重建
5 Setting rents is far from an exact science…
far from含否定意义词组意完全远远例:
What he has done is far from my expectation 做期相差甚远
6 …it calls for the exercise of good judgment based on a knowledge of
rent rates and available space in comparable buildings as well as the features
functions and benefits of both the subject property and competing space
exercise of good judgement意做出判断分词短语based on a knowledge…in comparable
building修饰作定语
both…and等立连词连接二短语the subject property(属物业)competing space意……………………例:
The little girl can speak both English and Chinese
The book is both interesting and instructive书趣教育意义
7 a standard unit标准单位
8 The base unit is assigned a rental figure derived from a study of the
market with adjustments for differences…
句中动词assign接双宾语the base unita rental figure assign间接宾语句中作语作谓语动词接受者该句中动语态分词短语derived
from…修饰figure
9 …a newer building normally commands higher rent for space than an older
building all other things being equal
all other things being equal独立格结构作步状语句译:条件相结构语+非谓语动词+例:
The storm having destroyed their hut they had to live in a cave雷雨房子毁坏住洞里
10 …space on higher floors usually commands a premium over that on lower
floors…
that 指space该句译:高楼层低楼层租金高
物业理英语第八讲Property Management Funcitons (Ⅲ)
The property manager is responsible for the prompt collection of rent and
other payments due from tenants When the rent is a fixed sum for the term
of the lease the task is simple However in many commercial buildings
a tenant’s rent obligation may be made up of different items For example
the tenant may pay a minimum rent that steps up at periodic intervals during
the lease term sometimes with some form of escalation rent (like increases
tied to the Consumer Price Index) or with a percentage rent in the case
of retail tenants Tenants may also be liable for garage rentals or fees
for specified services provided by the landlord If additional rents and
fees must be calculated by the landlord they are not payable until bills
have been prepared and rendered to tenants Consequently rent calculation
and collection in a large income property can be complex and time consuming
Providing security
The increase in crime both against persons and property has made security
a top demand by tenants of all types whether residential office retail
or industrial In addition legislation and court decisions in many states
have expanded the liability of a landlord for injury or property loss suffered
by a tenant resulting from inadequate safety precautions or from the landlord’s
failure to repair doors windows or other points of access into the building
or into individual rental units The property manager has the difficult
task of seeking to minimize the risk of crime while at the same time keeping
operating cost increases to a minimum
Supervising personnel
Depending on size a property may require none one or many employees
for cleaning maintenance security and other jobs The property manager
normally determines the personnel requirements of the property and hires
workers (within a budget approved by the owner) Depending on the terms
of the management contract wages and salaries are either paid by the property
management firm (that then passes these costs along to the property owner)
or are paid by the owner directly A management firm handling a number
of buildings around town normally finds it more economical to have its
own staff service the buildings
Maintaining property insurance
Adequately insuring a property and doing so at the minimum cost is
important Doing so requires a manager to keep up to date on the many types
of insurance coverage available and to recommend appropriate insurers for
the property (This latter function is often performed by an insurance
broker who deals with the property manager or directly with the owner)
Finally the property manager must investigate all accidents or claims
for damages and see to it that reports are filed promptly with the insurer
Useful Expressions
be made up ……构成组成
tie to 赖
be liable for 负(法律)责
step up 增加加快加强
result from ……结果起
at the same time时然
keep…to a minimum ……保持低限度
depend on
up to date符合新发展包括新事实(统计)
claim for求(赔偿)
Notes
1 The property manager is responsible for the prompt collection of rent
and other payments due from tenants
该句中介词of接两宾语rentpayments Due形容词修饰payment
the prompt collection of rent意时收取租金
other payments due意期应付款
2 a fixed sum固定数目
3 …the tenant may pay a minimum rent that steps up at periodic intervals
during the lease term sometimes with some form of escalation rent…
句中定语句 that steps up…修饰rent该定语句译:租赁期间定期增加低租金
sometimes with some form of escalation rent (like increase tied to the
Consumer Price Index)译:常常逐步升形式(消费价格指档相关涨价)
4 garage rentals车库租金
5 fees for specified services provided by the landlord业提供特服务支付费
6 If additional rents and fees must be calculated… they are not payable
until bills have been prepared and rendered to tenants
该句复合句if引导条件状语句句中not…until引导时间状语句意直……they代additional
rents and fees意追加租金费
7 The increase in crime both against persons and property has made security
a top demand by tenants of all types whether residential office retail
or industrial
both against persons and property 修饰crime意身财产犯罪
Make security a top demand译安全成首求
Whether…or 引导名词性句作tenants of all type位语
8 In addition legislation and court decisions in many states have expanded
the liability of a landlord for injury or property loss suffered by a tenant
resulting from inadequate safety precautions or from the landlord’s failure
to repair doors …or other points of access into the building or into…
句简单句中分词作定语句中分词suffered by a tenant修饰loss 意租户遭受伤害财产损失
现分词短语resulting from…作状语中or接from前省略resulting该分词短语译:安全防范足者业没修缮门窗进入建筑物单租赁单元通道致
9 The property manager has the difficult task of seeking to minimize the
risk or crime while at the same time keeping operating cost increases to
a minimum
while引导状语句意()方句中省略语the property manager句中语部分完全相while引导句相句子例:
I earn only 50 dollars a week while she earns 100 dollars
周挣50美元挣百美元
10 A management firm handling a number of buildings around town normally
finds it more economical to have its own staff service the buildings
句中分词短语handling…修饰firm a number of 意接数名词a number of students
it作形式宾语真正宾语定式to have its own staff service the buildings 中have
sb do sth 固定句型意某干某事service句中动词例:
The director will have Hudson show you around the factory理派哈德逊带参观工厂
11 Doing so require a manager to keep up to date on the many types of
insurance coverage available and to recommend appropriate insurers for
the property
available修饰coverage意保险项目该词常放修饰名词例:
There is an increase in the number of jobs available to women
keep up to date on the many types of insurance coverage available译:解关保险项目许种类新资料
物业理英语第九讲Property Management Functions (Ⅳ)
Operating real estate is similar to every other business in one important
respect keeping the customer satisfied It is true that a tenant signed
to a fixed term cannot walk away from the property if heshe is poorly
served as can the customer in a department store But every lease eventually
comes up for renewal and a high turnover can be a major operation expense
Furthermore a building with a reputation for dissatisfied tenants will
suffer in the marketplace
In dealing with complaints from tenants the property manager should be
quick to cure deficiencies in services to which tenants are entitled At
the same time one tenant should not be given favored treatment other
tenant will inevitably demand the same The property manager must also
use good judgment in enforcing the rules and regulations of the building
(which often are incorporated into each lease) These rules and regulations
can be quite detailed particularly in the case of an interrelated operation
like a shopping center For example the rules may specify whether a tenant
is permitted to distribute handbills to shoppers how loud music can be
played by a record store and how late stores must be open at certain times
of the year like Christmas Rules exist to minimize disputes among tenants
as well as to maximize total shopping center sales for all tenants (and
so increase percentage rents payable to the landlord) Deciding how strictly
to enforce the rules is one of the most difficult jobs of the property
manager Authority fairness and diplomacy are all demanded by the work
Establishing maintenance schedules
Maintenance schedules specify the timing and amount of custodial services
like cleaning common areas (as well as leased space when called for by
the lease agreement) picking up garbage removing snow and ice and keeping
up the parking area Maintenance also includes making sure the building’s
operating systems are always functional Tenants take for granted (rightly)
their heating ventilating and air conditioning plumbing and electrical
service The building manager is paid to take responsibility for keeping
these systems running In a larger property one or more engineers may
be permanently on the premises to look after mechanical equipment In many
buildings maintenance contracts are set up for heating and air conditioning
equipment Besides maintenance the property manager is also responsible
for inventory control to ensure that cleaning supplies and other necessary
items are on hand when needed (In some establishments like hotels inventory
control is a highly specialized function that includes food and liquor)
Useful Expressions
be similar to ……相似
walk away from ……处离开
come up 提出发生
pick up 捡起起
keep up 继续停止
make sure 确保
take…for granted 认……理想然
take responsibility for负责承担责
look after 料护
set up 安排组织建立
on hand 现手头手边
Notes
1 Operating real estate is similar to every other business in one important
respect keeping the customer satisfied
keeping the customer satisfied作in one important respect位语
2 It is true that a tenant signed to a fixed term cannot walk away from
the property if heshe is poorly served As can the customer in a department
store
分词短语signed to a fixed term修饰tenant 意签约固定租期租户
as 作连词意……样as引导句承接前示句谓倒装例:
Paul plays violin as does her mother
3 In dealing with complaints from tenants the property manager should
be quick to cure deficiencies in services to which tenants are entitled
Which作介词to宾语先行词services 该词定语句to which tenants are entitled修饰
4 At the same time one tenant should not be given favored treatment
other tenants will inevitably demand the same
favored treatment 意优the same 代 favored treatment
5 …the rules may specify whether a tenant is permitted… how loud music
can be played…and how late stores must be…
句中连词whether疑问副词how引导三名词句作specify宾语该结构英语中较普遍充句子语宾语补误位语例:
What he did is not yet known (语)作什知晓
I don’t know whether he aggress with you (宾语)知道否意观点
He has made the company what it is today (补语)公司发展成天样子
at certain times of the year like Christmas 年里某时候圣诞节
6 Rules exist to minimize disputes among tenants as well as to maximize
total shopping center sales for all tenants…
句中两列定式短语to minimize…as well as to maximize 作目状语译:仅整购物中心企业销售额程度增加租户间纠纷减低低限度
7 Deciding how strictly to enforce the rules is one of the most difficult
jobs of the property manager
句中deciding面疑问副词引导定式短语作decide宾语常句型:疑问代词+动词定式称作定式复合结构句中作语表语宾语
The secretary will tell you how to fill in the form (宾语)秘书告诉样填表
The problem is where to go for the outing (表语)问题游玩
How to do it depends on you (语)做取决
8 Tenants take for granted (rightly) their heating ventilating and air
conditioning plumbing and electrical service
该句中granted 面词:heating ventilating …service应放granted前作宾语宾语列举词置
take fro granted常take it for granted that结构it作形式宾语真正宾语that引导句例:
we take it for granted that they would consent想然认会意
9 Besides maintenance the property manager is also responsible for inventory
control to ensure that cleaning supplies and other necessary items are
on hand when needed
Inventory control品控制
动词定式to ensure…作目状语中when needed中省略语cleaning supplies and other necessary
items助动词are
物业理英语第十讲The Work of the Engineering Division
The engineering division performs work in several areas electrical plumbing
heating ventilation air conditioning general maintenance and repair
preventive maintenance renovation and water management The property’s
own engineering staff concerns itself primarily with maintenance in each
of these areas Local building codes andor lack of time or personnel in
the engineering division may dictate that outside contractors must handle
large installations changeovers or new construction The use of contractors
is often dictated by applicable codes and by the fact that the engineering
staff frequently has insufficient time and personnel to handle such work
while attending to regular repair and maintenance
Electrical Systems
Property operations use a tremendous amount of electrical equipment and
electrical repair takes the engineering division to every corner of the
building An elaborate electrical system with its many circuits requires
hundreds of fuses and every blown fuse must be replaced Should a fuse
continue to burn out the short circuit must be located and repaired All
electrical fixtures outlets andtches must be kept in good working
order Maintaining and servicing a modern electrical system is very complicated
but consider the woes of an engineer whose property may be 50 to 100 years
old who must contend with obsolete equipment and wiring
Today most properties buy electrical power from public utilities However
many properties have an emergency generator ready in case the regular source
fails A few communities still generate their own power but this requires
added staff and equipment and usually costs more than power from a public
utility
Job description for a chief engineer
Job Title Chief Engineer Date
Basic Function
Performs manages or supervises maintenance operations for exterior and
interior facilities including electrical plumbing heating cooling structural
groundcare parking areas and other maintenance work necessary to maintain
the proportion in an optimum and efficient condition Also ensures the
safety and comfort of the tenants
Responsibilities
1 Maintain all distribution systems for electricity water gas etc
2 Maintain and operate air conditioning heating and ventilation systems
3 Maintain buildings and grounds
4 Monitor and coordinate the services performed by outside contractors
in accordance to all contracts leases service agreements and warranties
5 Keep all records pertaining to heat light and power and costs of the
facility
6 Ensure timely response to requests for services by tenants and management
to include repair or replacement of all interior fixtures and furnishings
7 Schedule all work to be done on a daily basis at a minimum of inconvenience
to tenants
8 Plan implement and administer an effective preventive maintenance
program in accordance with good engineering practices
9 Plan implement and administer an energy management program
·Maintain appropriate equipment operating logs
·Maintain utility consumption records
·Educate other operating departments in energy management
·Establish annual energy reduction objectives
·Analyze and modify operation of the physical plant to conserve energy
10 Assist in the preparation of capital expenditures and maintenance budgets
·Select vendors and contractors that meet quality standards and pricing
specifications
·Initiate purchase orders
·Maintain adequate inventory of parts tools and supplies
·Maintain purchasing records
11 Train and supervise subordinates and assist in safety and emergency
training for other employees
12 Conduct continuing inspection of buildings and grounds to ensure compliance
with fire and safety laws
13 Recommend andor take action to ensure compliance
14 Maintain a clean and orderly work area free of hazards
15 Perform other duties as assigned
Supervision Exercised
Assistant chief engineer carpenters electricians grounds maintenance
lock and key maintenance painters and plumbers
Supervision Received
·Supervisor
·General Manager
Minimum Requirements
·Education high school or equivalent
·Mechanical or equivalent training in the following boilers plumbing
air conditioning power or building construction Higher education or experience
of such kind and amount as to provide a comparable background required
Experience
Five years in any combination of mechanical trades with hotelsmotels
hospitals highrise apartments or similar duties with the armed services
Must have license where required or qualifications to become licensed
Knowledge of carpentry and painting required
Other
1 Applicant should possess the following traits
·Effective communication skills
·Administrative abilities
·Good personal relations skills
·Self motivation
·Mechanical aptitude
2 Applicant must be willing to relocate when and where directed
Useful Expressions
concern with 关心挂念事
attend to 料
burn out 烧毁熄灭
keep in good order 维持状态完
contend with ……作战……战斗
in case 万……话……情况
pertain to 关附属
in accordance withto ……致……协调
take action 采取行动
free of ……免费
Notes
1 Local building codes andor lack of time or personnel in engineering
division may dictate……
建筑规范者工程部缺少时间手许求……
2 The use of contractors is often dictated by applicable codes and by
the fact that the engineering staff frequently has insufficient time and
personnel to handle such work while attending to regular repair and maintenance
that引导句作fact位语作进步解释例:
We all know the fact that they have landed on the moon
While 引导时间状语该句省略语the engineering staff例:
He was so tired that he fell asleep while reading the newspaper
3 a tremendous amount of electrical equipment 量电气设备
4 every blown fuse 根烧坏保险丝
5 Should a fuse continue to burn out the short circuit must be located
and repaired
should a fuse…倒装句should置句首句型实际省略连词if该句译:果保险丝断烧坏
例:
Should anyone phone tell them I’m in conference
6 …but consider the woes of an engineer whose property may be 50 to 100
years old who must contend with obsolete equipment wiring
句中两定语句关系代词whose引导句whose定语句中充定语相the property of whom
表示属关系例:
This is a book whose content (the content of which) have caused a great
deal of discussion
定语句关系代词who引导who定语句中作语先行词engineer
7 However many properties have an emergency generator ready in case the
regular source fails
Have an emergency generator ready 台救急发电机备
in case 作连词引导状语句意万……话……情况例:
In case anything important happens please call me up 果事发生请电话
8 …and usually costs more than power from a public utility
通常公机构送电贵
9 exterior and interior facilities 户户外设施
10…including electrical plumbing heating…and other maintenance work
necessary to maintain the property…
Necessary to maintain…作work定语该短语译:必物业保持完高效维修工作……
11 Schedule all work to be done on a daily basis at a minimum of inconvenience
to tenants量减少租户便安排日做工作
to be done…动词定式作定语表示做事修饰名词动作接受者定式动语态形式例:
That will be the only things to be done by the children孩子目前做唯事情
物业理英语第十讲Heating Ventilation Air Conditioning
In many parts of the US and the world the engineering staff must keep
the property heated for a good part of the year In the winter this means
simply maintaining a comfortable even temperature During spring and fall
however it is desirable to take off the chill without overheating the
building no small task if the heat is manually controlled
Hot water heating systems are still used in some properties but steam
systems are more common While many properties purchase their steam from
public utilities others operate their own boilers Coalstoked boilers
are dirty Gas or oil burners are clean but they require additional employees
Buying steam reduces the number of employees needed to maintain the boilers
So the engineering crew must have the technical knowledge and skill to
handle them
Maintaining a heating plant may appear to be simple routine work but
in reality it requires highly technical knowledge Burners must be maintained
and repaired thermostats must be kept in good working order radiators
and valves need attention New types of controls are being developed that
will bring heating closer to an automatic operation but the automated
repair and maintenance engineer just does not exist and probably never
will
Another responsibility of the engineering division is the ventilation and
air conditioning system Regular changes of air are required and it takes
machinery to provide this The public today demands air conditioning in
all firstclass properties A central system provides a central point for
maintenance and repair
Computer and other electronic devices called energy management system (EMS)
have been developed to control peak power demand regulate the heating
ventilating and air conditioning throughout the building as needed and
control every aspect of energy usage in the operation
These systems are all technically very complex and require a knowledgeable
and experienced staff to operate and maintain underscores the need for
better training and education of the engineering staff
Useful Expressions
take off 走取消
in reality 实际事实
close to 接
Notes
1 …the engineering staff must keep the property heated for a good part
of the year
分词heated句子中作宾语补足语物业供暖动意思分词例:
They have made rules to keep the property cleaned
for a good part of the year译:年部分时间
good意颇相例:
It will take me a good five hours to write such an article写样篇文章足足花五时
2 …it is desirable to take off the chill without overheating the building
no small task if the heat is manually controlled no small task前句中to
take off the chill…作进步解释意务No置名词形容词前意点绝例:
He is no gentleman根绅士
She left her niece no small fortune留侄女笔庞遗产
3 coalstoked boiler燃煤锅炉
4 New types of controls are being developed that will bring heating closer
to an automatic operation…
句中含定语句that will bring heating…修饰new types of controls修辞需定语句置避免头重脚轻例:
New houses will be built that can be used to settle refuges
5 but the automated repair and maintenance engineer just does not exist
and probably never will
and列成份maintenance前面repair修饰语engineer will省略谓语动词exist该部分省略形式副词never放助动词will前面
6 control peak power demand控制高峰时期电需求
7 regulate the heating ventilating and air conditioning throughout the
building as needed…
必时调节整栋建筑供暖通风空调as作连词引导状语句处省略语系动词
物业理英语第十二讲General Maintenance and Repair
When it becomes necessary to break through walls in order to make plumbing
or electrical repairs engineers make the subsequent repairs The engineers
also handle small welding jobs and maintain door hinges and locks Engineering
staff may also be involved in a wide rang of miscellaneous tasks such as
window replacement painting carpet installation and so forth An outside
firm is usually contracted for the maintenance repair and inspection
of major equipment such as elevators
Maintaining a plumbing system is no small job Many American communities
often have a large plumbing system In addition to the circulating hot
water system properties have a separate and complete cold water system
A property owner without either hot or cold water wastes no time making
this fact known and engineers must remedy the situation immediately Faucet
are bound to wear out and many hours are spent replacing them Drains
can become stopped in the course of everyday use or property owners may
discard objects that plug up sinks or bathtubs On upper floors plugged
rains may cause flooding Even minor flooding can cause extensive damage
The engineering division also frequently receives calls about toilets
Basic tools can generally be used to resolve problems but in serious
cases the toilet may have to be removed to let the plumber locate the
source of difficulty Water closet valves must be frequently checked
and kept in good working order to avoid noises
Some plumbing work can be rather messy One example is cleaning the kitchen
grease traps and the basement grease line Chemicals can help keep these
lines open but occasionally cleaning must still be done manually An
additional problem for engineers is the fact that the original plumbing
in most properties probably was not intended for all the use it now gets
Properties can modernize systems gradually but few proferties can undertake
such a job in a short period of time
A Sample Informing Tenants of Electricity Supply Cutoff
Dear tenants
Please note that owing to the carrying out of repair work to the electricity
supply system lift service and public lighting of Block Two and Four will
be suspended from 9 to 20 Nov 15th
However emergency electricity supply will be provided to staircases and
corridors Should you have any queries please contact the Manager Office
on 87675274 (telephone number)
We apologize for any inconvenience that may be caused
Yours sincerely
Useful Expression
break through 破突破垮
be involved in 卷入涉
such as
so forth 等等
in addition to ……外()
be bound to 定注定
wear out 坏耗损磨损
in the course of ……期间
plug up 堵塞
owing to
Notes
1 When it becomes necessary to break through walls in order to make plumbing
or electrical repairs…
句中动词定式to break through walls 真正语it 形式语该句译:进行道电力维修必时穿墙破壁
2 Engineering staff may also be involved in a wide range of miscellaneous
tasks such as window replacement… and so forth
a wide range of 意范围例:
The student has a very wide range of interest
学生兴趣非常广泛
such as 意例as接名词例:
Sara has read many English novels such as Oliver Twist Pride and Prejudice
and Jane Eyre莎拉读许英语说例:雾孤傲慢偏见简·爱
3 An outside firm is usually contracted for the maintenance repair and
inspection of major equipment such as elevators
该句谓语动语态contract作动词意……订(……)合该句译:外面公司订立合负责维护修理检查设备电梯
4 A property owner without either hot or cold water wastes no time making
this fact known
介词短语without either…or…作owner定语译:没冷水热水业
Waste no time意浪费点时间赶快making this fact known复合结构known作宾语fact补足语意告诉
5 Drains can become stopped in the course of everyday use
水道日中堵塞
6 On upper floors plugged drains may cause flooding
楼堵塞水道许会引起淹水
7 Chemicals can help keep these lines open…
help keep help + (to) do句型意助(某事)
例:
The new policy helped (to) brake the inflation
项新政策助掏通货膨胀
该句译:化学药品助保持道线畅通
8 An additional problem for engineers is the fact that the original plumbing
in most properties probably was not intended for all the use it now gets
句中fact紧位语句that the original plumbing…the use定语句it now gets修饰use
9 electricity suppily cutoff 停电
10…owing to the carrying out of repair work to the electricity supply
system… 供电系统进行维修……
Owing to the shower the football game was put off
阵雨场足球赛推迟
11 emergency electricity supply备电
12 Should you have any queries please…
该句省略if条件状语句正常语句:If you should have any queries please…种句式谓语动词虚拟语气表示某种情况假设例:
Should I have enough money I should sail around the world singlehanded
足够钱会独船周游世界
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