Master of Science in Property Management

Master of Science: 45.0 quarter credits

About the Program

The Master of Science in Property Management is a part-time graduate degree program designed to educate professionals to be successful in the multidimensional and multidisciplinary field of property management. The program stresses strategic decision-making and provides students with interactive, experiential learning opportunities involving research and analysis. Students have the opportunity to review and analyze best practice cases in all aspects of the profession and to discuss the latest strategies with industry leaders.

The program provides graduate study for experienced managers with undergraduate degrees in areas outside of property management or real estate. Property managers operate in a very complex environment and their roles have evolved from handling day-to-day challenges to being actively involved in strategic leadership. Currently, property managers are challenged to balance the needs of owners, tenants, contractors, and government entities. They are expected to be creative participants in setting strategic policies involving development, risk, finance, marketing, human resources, and technology. Property management is a very high-level profession and successful property managers are responsible for thousands of tenants, thousands of units, millions of rent dollars, hundreds of employees, and multi-million dollar investments.

Students complete core foundation courses and two elective courses where they have the choice of selecting a variety of courses or creating an area of specialism based on their professional interests. The elective courses feature special strategies employed to manage and market a variety of industry segments. All students participate in a culminating experience involving two capstone courses, one featuring current issues and the other involving the completion of a major research project and presentation to a board of industry leaders.

For additional information, visit the Master of Science in Property Management page.

 

 

 

Admission Requirements

  • Bachelor’s degree from a regionally accredited institution
  • Undergraduate GPA of 3.0 or higher (graduate degree GPAs will be considered along with the undergraduate GPA).  Applicants with a cumulative GPA below 3.0 may be considered.
  • Completed application
  • Official transcripts from all universities or colleges and other post-secondary educational institutions (including trade schools) attended. Instead of hard copy transcripts, you may supply official electronic transcripts issued by a post-secondary institution directly to Drexel University Online (use our email address, customerservice@drexel.com). You must supply transcripts regardless of the number of credits earned or the type of school you attended.  If you do not list all post-secondary institutions on your application and these are listed on transcripts received from other institutions, processing of your application will be delayed until you have submitted the remaining transcripts. Click here to use our Transcript Lookup Tool (javascript:opentranscriptwindow();)  to assist you in contacting your previous institutions.
  • Two letters of recommendation, professional or academic. Drexel University Online now accepts electronic letters of recommendation.  Please access the following webpage for instructions regarding their submission: http://www.drexel.edu/apply/recommend.  If a recommender prefers to submit an original, hard copy letter of recommendation, please remind the recommender that it must be signed and submitted in a sealed envelope signed across the flap by the recommender.
  • Up-to-date resume
  • Essay, between 500-750 words, describing your interest in the program. Specifically, please discuss the following:
    • How the program relates to your previous educational activities 
    • If changing course, why are you moving in a new direction with your educational goals 
    • How the program relates to your current line of work 
    • How you plan to apply the program to your future goals 
  • International students must submit a TOEFL score indicating a minimum of 600 (paper exam) or 250 (CBT exam). For more information regarding international applicant requirements, view the International Students Admissions Information page.
  • An interview may be requested.

Visit the MS in Property Management Online Application page for more information about requirements and deadlines, as well as instructions for applying online.

Degree Requirements 

The Master of Science in Property Management requires the completion of a minimum of 45.0 post-baccalaureate credits with 30.0 credits in core foundation courses. The core foundation courses include essential subject areas for all successful property managers: environment, facilities management, property law, financial analysis, risk management, development, and technology.

In addition, the three premier types of property are featured: residential, commercial, and retail. Beyond the core foundation courses, students can select from a list of elective courses. All students participate in a capstone project which is the culminating experience of the degree program. Students discuss current issues facing the profession work together on a team project to complete an analysis project and have the opportunity to interact with internationally known property management leaders. 

Core Courses
CMGT 535Community Impact Analysis3.0
PRMT 602Residential Property Marketing3.0
PRMT 603Property Asset Management3.0
PRMT 610Facilities Management3.0
PRMT 625Property Financial Analysis & Strategies3.0
PRMT 630Rental Property Law3.0
PRMT 640Property Security Emergency & Risk Management3.0
PRMT 645Property Management Technology Strategies3.0
PRST 504Research Methods & Statistics3.0
REAL 568Real Estate Development3.0
REAL 572Advanced Market Research & Analysis3.0
Electives
Select two of the following:6.0
Retail Property Mareketing & Management
Affordable Housing Management
Student Housing Mareketing & Management
Military Housing Mareketing & Management
Housing for Later Life
Commerical Property Management
Special Topics in PRMT
Real Estate Economics in Urban Markets
Culminating Experience
PRMT 695Capstone in Property Management I3.0
PRMT 696Capstone in Property Management II3.0
Total Credits45.0


Courses

PRMT 602 Residential Property Marketing 3.0 Credits

This course covers strategies to successfully market residential properties. Discussions include acquiring and retaining tenants, motivating renters, packaging amenities, selling techniques, advertising media, and online marketing. Students will review best practices advertising campaigns and analyze marketing plans from regional residential housing developments.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 603 Property Asset Management 3.0 Credits

This course focuses on increasing property values by creating strategies to maximize return by providing excellent customer service, designing systems to provide utilities in an effective manner, creating value-added services to enhance the tenants’ experiences, and managing the day-to-day operations of properties effectively.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 610 Facilities Management 3.0 Credits

This course focuses on the strategic role property managers play in facilities management. Property managers must be aware of all operational issues and are active participants in making strategic facilities decisions including in-house or outsourcing services, service specifications, managing service providers, and creative method of addressing sustainable development issues.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 625 Property Financial Analysis & Strategies 3.0 Credits

This course focuses on the importance of financial analysis to the strategic decision-making process employed by property managers including cash flow, tax implications, and risks of various projects. Decision-making models, lease valuation, and sensitivity analysis are employed in real situation. Current marketing conditions are discussed including alternative financing choices, cost of funds, tax incentive development options, and capitalization rates.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 630 Rental Property Law 3.0 Credits

The focus of this course is the legal framework within which a property manager makes strategic decisions. Lease provisions for a variety of property types are analyzed and a significant portion of the course deals with Fair Housing Law, the Americans with Disabilities Act, HUD regulations, and state housing statutes. Strategies to reduce legal exposure are discussed. The course features major cases.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 640 Property Security Emergency & Risk Management 3.0 Credits

This course focuses on risk aversion strategies employed by property managers to protect tenants, employees, community members, and owners. The course includes analysis of best practice strategies featuring property developments with superior emergency planning systems, security systems, communication strategies, and environmental response plans. Students review the insurance strategy for a major property development and discuss state and federal laws.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 645 Property Management Technology Strategies 3.0 Credits

This course focuses on the use of technology to effectively manage and market property. Successful strategies employing technology to gain operating efficiencies, increase employee and tenant communications, optimize rent management, increase tenant retention, and maximize security systems are featured. Best practice examples of integrated technology stems are reviewed and students perform a technology audit.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 650 Retail Property Marketing & Management 3.0 Credits

Explores strategies to market and manage retail properties. A variety of retail properties are analyzed such as shopping centers, malls, small strip centers, mixed-use properties, and retail entertainment destinations. Topics include tenant mix, advertising, promotion, leases, maintenance, technology integration, retail development and rehabilitation, and retail as an amenity for residential tenants.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 655 Affordable Housing Management 3.0 Credits

This course focuses on successful strategies to manage affordable housing. The major issues impacting development are discussed including HUD regulations, rental property law, development financing, green development concerns, and specialized amenities including childcare, assisted living facilities, and pharmacies.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 660 Student Housing Mareketing & Management 3.0 Credits

This course focuses on successful strategies for marketing and managing student housing. The main variables influencing decisions are explored including federal and state laws, town-gown relations, emergency management, security and communications planning, advertising design and placement, rent management opportunities, and constraints, and awareness of student issues and current cases.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 665 Military Housing Mareketing & Management 3.0 Credits

Strategies to successfully market and manage military housing are the central focus of this course. Military housing requires specialized study in a variety of areas including federal laws, emergency management, security and communications, military regulations, Department of Defense initiatives and regulations, and specialized amenities especially childcare, family entertainment, and healthcare.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 670 Housing for Later Life 3.0 Credits

This course features strategies to successfully manage and market housing for later life. A range of housing choices is explored and emphasis is placed on specialized lifestyle activities, unique amenity wants and related health service needs of the tenants. Emphasis is placed on legal, operational, marketing, and financial issues. Private equity investment into nursing homes is discussed.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 675 Commercial Property Management 3.0 Credits

This course focuses on the strategic management of commercial property. A variety of commercial properties are featured including office buildings, medical office buildings, industrial properties, warehouses, and mixed-use corporate campuses. Operational issues are discussed and commercial property is analyzed as an investment including the development process.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 677 Commercial Property Leasing 3.0 Credits

This course covers leasing processes for office, retail and industrial properties. Students will evaluate preliminary documents that set the stage for rental agreements, including landlord lease packages, tenant requests for proposals and letters of intent. Relative bargaining positions of key stakeholders and model lease clauses resolving principal issues are evaluated.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit

PRMT 680 Special Topics in PRMT 0.5-12.0 Credits

Covers special topics of interest in Property Management. This course can be repeated for credit.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Can be repeated 18 times for 9 credits

PRMT 695 Capstone in Property Management I 3.0 Credits

This culminating course provides an overview of major issues facing property managers today and requires the completion of a comprehensive community analysis of property development. The research protocol and methods to be used in PMGT 696 are presented and students submit a research topic for approval.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit
Prerequisites: PRMT 602 [Min Grade: C] and PRMT 603 [Min Grade: C] and PRMT 625 [Min Grade: C] and PRMT 630 [Min Grade: C] and PRMT 640 [Min Grade: C] and PRMT 645 [Min Grade: C] and REAL 572 [Min Grade: C]

PRMT 696 Capstone in Property Management II 3.0 Credits

This culminating experience requires the completion of a research project focusing on a topic relevant to today’s property managers. The project will be completed in a systematic manner using research and management tools. Students demonstrate their abilities to conduct thorough research, analyze and interpret data, evaluate results, and make conclusions.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Not repeatable for credit
Prerequisites: PRMT 602 [Min Grade: C] and PRMT 603 [Min Grade: C] and PRMT 625 [Min Grade: C] and PRMT 630 [Min Grade: C] and PRMT 640 [Min Grade: C] and PRMT 645 [Min Grade: C] and PRMT 695 [Min Grade: C] and REAL 572 [Min Grade: C]

PRMT 697 Property Management Practicum 1.0-3.0 Credit

This course provides students an opportunity for experience in the field of property management. Students will secure their own relavent practicum placement. Work will be supervised by a professional with appropriate property management experience. Students will complete an ongoing project.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Can be repeated 3 times for 3 credits
Restrictions: Can enroll if major is PRMT.

PRMT 699 Independent Study in Property Management 1.0-6.0 Credit

Provides individual study or research in Property Management under faculty supervision. This course may be repeated for credit.

College/Department: Goodwin School of Technology & Professional Studies
Repeat Status: Can be repeated 11 times for 12 credits
Restrictions: Can enroll if major is PRMT.

Multidisciplinary & Emerging Programs Faculty

Frank Anbari, PMP, PhD (Drexel University) Project Management Program. Clinical Professor. Transportation engineering; project scheduling; project cost management; earned value management; project quality management; project leadership; project management education; Six Sigma.
Kimberly Mitchell, PhD (Virginia Polytechnic Institute and State University ) Property Management Program. Associate Teaching Professor. Multi-family real estate operations, sustainability, affordability, and policy; asset management; real estate development.
Fredricka K. Reisman, PhD (Syracuse University) Director of the Torrance Center for Creativity and Innovation. Professor. Mathematics education, learning mathematics, mathematics pedagogy, teacher education, heuristic diagnostic learning and teaching, theory and research in creativity and applied creativity.
Victor Sohmen, PhD (University of Queensland) Project Management Program. Associate Clinical Professor. Extensive international experience in teaching, research, publication, and practice in diverse areas of: general management; project management; cost engineering; pedagogy; curriculum development; distance learning technology; research methodology; cross-cultural studies; and international business.

Interdepartmental Faculty

Scott J. White, PhD (University of Bristol, UK) Director, Computing & Security Technology Program. Associate Clinical Professor. Homeland security; operational risk management; infrastructure protection; intelligence, crime & counter-terrorism.
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