Virtual Property ManagerVirtual Property Manager©©: : Providing a Simulated Learning Environment in a Providing a Simulated Learning Environment in a

New University Program of StudyNew University Program of Study

Andrew T. Carswell

University of Georgia

VPM : An IntroductionVPM : An IntroductionWhere 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

Introduction of Property Introduction of Property Management Within the University Management 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

Changes Occurring Within Changes 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

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

Research Questions Involved in Research 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?”

Survey Instrument and Research Survey 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

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

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