Exam (elaborations)
CPPS - Module 1, Chapter 1 Property Management (1)
- Course
- Institution
CPPS - Module 1, Chapter 1 Property Management (1)
[Show more]
Seller
Follow
modockochieng06
Content preview
CPPS - Module 1, Chapter 1 PropertyManagement
Department within an organization that is responsible for controlling or managing
property. Responsible for establishing, guiding, managing, and maintaining an efficient
property system, communicating effectively with other departments and functions, and
developing and presenting training in subjects relating to property. - ANS-Property
Management Office (PMO)
Establishment and maintenance of a property control system. A property control system
is comprised of property management personnel, processes, and management
information system (MIS). - ANS-Responsibility of Property Management Office
Having legal or rightful title to property. - ANS-Ownership
To possess and have use of the property of another with delegated duties and
responsibilities, subject to penalty in case of default. Note those "accountable do not
have legal or rightful title to the property. Key elements of property accountability are:
• Provider
• Recipient
• Specific duties and responsibilities
• Specific penalties in case of default - ANS-Accountability
May or may not involve physical relocation of an asset. - ANS-Transfer or Accountability
To be answerable for a trust or obligation. - ANS-Responsibility
The key distinction from a property professional's standpoint is that one is accountable
to someone for the property, and is responsible for certain actions (such as
maintenance or storage) related to the property. - ANS-Responsibility vs Accountability
Comprised of written policies, procedures, operational guidelines,
and related records as well as the management information system (MIS) that facilitates
performing those functions. System must incorporate methods for safeguarding the
physical assets of an organization, for periodically verifying the existence, status and
condition of the property, and for ensuring the accuracy of related records. -
ANS-Property Control System
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78310 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now