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Property Manager Designations and Apartment Rent

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    Abstract

    This paper examines the effect of professional designations on apartment rent. The real estate market is characterized by information asymmetries between landlords and tenants. Information may be transferred by actions of landlords such as the holding of professional designations. This may serve as a signal to potential renters of the true quality of service provided by the property management. The data consist of apartment complexes managed by professional management companies. The degree of professionalization is measured by the extent to which managers hold professional designations such as the CPM, ARM, or CAM. The results of the empirical model show that the holding of designations has a positive effect on monthly rent.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol07n01/v07p091.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 7 (1992)
    Issue (Month): 1 ()
    Pages: 91-98

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    Handle: RePEc:jre:issued:v:7:n:1:1992:p:91-98

    Contact details of provider:
    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    Cited by:
    1. G. Donald Jud & John D. Benjamin & G. Stacy Sirmans, 1996. "What Do We Know about Apartments and Their Markets?," Journal of Real Estate Research, American Real Estate Society, vol. 11(3), pages 243-258.

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