This presentation was given at the Education and Information Systems, Technologies and Applications (EISTA) Conference in Orlando. It provides details on a program that was created to help simulate the types of issues that a residential property manager would normally face in his or her job, such as building lease-up, marketing, budgeting, crisis management, and personnel hiring, among several other things. Results are given from an experiment that tested satisfaction with the simulation in both competitive and non-competitive environments, as well as the potential for the simulation to attract students to a "Residential Property Management" concentration. The University of Georgia is one of only about 6-8 colleges and universities that offers such a concentration.

1. Virtual Property ManagerVirtual Property Manager©©::
Providing a Simulated Learning Environment in aProviding a Simulated Learning Environment in a
New University Program of StudyNew University Program of Study
Andrew T. Carswell
University of Georgia

2. VPM : An IntroductionVPM : An Introduction
Where are we going today?Where are we going today?
• Introduction of
classroom/university setting
• Discuss changes within
property mgmt. industry
• Provide illustration of VPM
dynamics
• Outline research questions,
survey instrument, and
research design
• Share results
• Conclusions

3. Introduction of PropertyIntroduction of Property
Management Within the UniversityManagement Within the University
and Classroom:and Classroom:
How it all got startedHow it all got started
• Description of HACE/FCS
• UGA starts Res. Prop.
Mgt. (RPM) program in
2004
• Secured funding from
GAA  $300k
• Growth of RPM in other
accredited institutions
• Evolution of UGA’s
program

4. Changes Occurring WithinChanges Occurring Within
Apartment IndustryApartment Industry
• Competition with homeownership
• Competition within the apt. industry itself
• New emphasis on education
• Increasing technology push
• Growth of REITs
• Segmentation of the renter population
• Owners becoming more hands-off regarding
management
• Increasing complexity of housing regs. & state laws
• Drug trade within complexes
• Slow movement back into the city

5. Overview of VPM DynamicsVPM Dynamics
• Each student responsible for his/her own
building
• Multiple goals/targets involved
• Student expected to accumulate knowledge on
aspects of successful mgmt. experience
• Collaboration with industry at various stages
along the way
• The importance of “showing up”
• Competition-based game with reward incentives
at the end

17. Research Questions Involved inResearch Questions Involved in
StudyStudy
• “Is there an interest in VPM as a
teaching tool? Does it spark an
interest in your enrolling in RPM
courses?”
• “Is there a difference in satisfaction
levels of the simulation between
HACE and non-HACE majors?”
• “Does the introduction of a
competition-based system affect
performance or satisfaction levels of
students?”

18. Survey Instrument and ResearchSurvey Instrument and Research
DesignDesign
• Likert scale questionnaire
(anonymous)
• Students were chosen from an
introductory level course
• Random division of students into
(non)competitive groups
• Neither group knew about the
differences between the two groups
• Females outnumbered males by >
2:1 ratio
• Non-HACE students outnumbered
HACE students

19. Initial Survey ResultsInitial Survey Results
• Mean scores > 4 regarding interest and appeal
of the game
• Positive results overall for such things as ease of
use and navigability
• Simulation does not necessarily suggest
students would assume RPM as a major
• Males more likely to rate VPM as an effective
teaching tool than females
• HACE students significantly more interested in
both VPM and in entering prop. Mgmt.
courses/major

20. Detailed Survey ResultsDetailed Survey Results
Non-Competitive Group "Strongly
Agree"
Competitive Group "Strongly
Agree"
My interest in RPM has increased as a result of playing the
VPM© game.
0% 14%**
I felt that I learned something about property management
through playing this game.
7% 25%*
I believe that this game is an effective instructional tool. 18% 32%
Playing the VPM© game was more interesting than the typical
classroom experiences I have had at the university.
43% 46%
I put in a lot of intense effort during my time playing the VPM©
game.
14% 43%**
This game was easy to understand and navigate. 14% 32%
* t-test indicates significant difference from non-competitive group at the .10 level
** t-test indicates significant difference from non-competitive group at the .05 level