Scattered Site Rental Toolkit:

Business Planning for Development & Management










VII.E. Management Planning

Because property and asset management are challenging lines of business unto themselves, they require their own detailed business and operational planning. Following is a breakdown of the key planning documents you will need for ongoing management. If you conduct property management in-house, you will have to generate all of the plans below. If you contract with a third party manager, some will be provided by the management company.

Planning Document

Typical Contents[i]

Management Plan

Delineates how the management company or housing manager will coordinate the physical, fiscal and operational management functions to meet the owner's objectives. A good management plan assures the owner, manager, lenders, investors, residents that the property is being professionally managed to meet the organization, investor and community standards.

[Business Planning Worksheet For This]

1.    Ownership Objectives

2.    Management Structure

3.    Communication and Decision-Making

4.    Marketing Strategy

5.    Resident Selection Plan / Criteria

6.    Rent Structure/Lease Arrangement

7.    Property Maintenance

8.    Financial Management

9.    Rent Management

10. Administrative Responsibilities

Staffing Plan

Describes the number and type of staff that will be needed to carry out effective and efficient management.

[Business Planning Worksheet For This]

1.    Staffing Matrix

2.    Jobs Descriptions

3.    Organizational Chart

Operations Manual

Description of a property management organizationís basic policies and procedures as well as a compilation of frequently used forms. This is typically developed by the property manager.

1.    Management Philosophy

2.    Personnel Policies

3.    Leasing Policies

4.    Purchasing

5.    Reporting

6.    Supply and Inventory

7.    Sample Forms and Letters

8.    Office Policies

Maintenance Policy and Procedures

A framework developed by maintenance and property management staff describing how preventative and reactive maintenance will be handled.

[Link to Sample]

1.    Maintenance Schedules

2.    Emergency Maintenance

3.    Work Orders

4.    Unit Turnover

5.    Preventative Maintenance

6.    Unit Inspections

Resident Selection Criteria and Marketing Plan

Detailed description of the process and criteria with which tenants will be selected. Also explains marketing and fair housing practices.

[Link to Sample]

1.    Income Targets and Limits

2.    Non-Discrimination, Accessibility

3.    Application Procedures

4.    Selection Criteria

5.    Marketing and Outreach

6.    General Guidelines

Asset Management Plan and Task Chart

Defines the organizationís long-term goals for the property and lays out an approach and tasks to meet those goals. This may be included in the Management Plan.

[Business Planning Worksheet For This]

1.    Asset Management Goals

2.    Initial and General Asset Management

3.    Property Management Oversight

4.    Financial Oversight

5.    Oversight of Physical Properties

6.    Resident and Community Relations

7.    Compliance Reporting, Recordkeeping and Monitoring

8.    Performance Standards


Next: VII.E. Property Management Software Options

Next: Business Planning Worksheets: Management

Next: Property Management Templates

a.    Sample Maintenance Policy and Procedures

b.    Sample Preventative Maintenance Schedule

c.    Sample Resident Selection Criteria and Marketing Plan

d.    Sample Third Party Management Contract

Next: Asset Management Templates

a.    Sample Asset Management Plan

b.    SSR Ongoing Management Spreadsheets Example (Excel)

c.    SSR Ongoing Management Spreadsheets Template (Excel)

d.    Useful Life Tables for Capital Needs Assessment and Reserve Analysis


[i] Adapted from: Property Management for SSR Housing (2009) by David Fromm and William Brett, published by NeighborWorks America for the NWA Training Institute (NTI).