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s • • CHAPTER 9. PROPERTY MANAGEMENT 130. GENERAL. Property management, as de- scribed herein, relates to the control and adminis- tration of lands and improvements acquired for airport purposes from the time title is vested with the Sponsor until the property is used for the pur- pose acquired. This involves the maintenance and protection of the property acquired, including im- provements, the responsibility for occupancy and rental of improved and unimproved lands, and the disposition of improvements by sale or demolition. The guides provided herein should be used by the Sponsor to establish the net cost through the sale and salvage of improvements that have a value re- flected in the acquisition cost. The cost of this man- agement, even though necessary to protect the prop- erty as suggested herein, such as rodent and pest control and protective measures, are not considered land acquisition costs. However, they may be charged to the returns obtained from the sale or salvage of the improvements in computing a credit to the land acquisition costs. 131. PROPERTY INSPECTION. When the Sponsor receives title for each property that has been acquired, it should record a complete descrip- tion of each improvement, its location and other identification and the terms of occupancy or re- moval of improvements under the acquisition agreement. a. Inspection. The Sponsor should inspect the property to: (1) Determine the present condition of the im- provements and fixtures acquired; (2) Determine that all fixtures and equipment acquired remain on the property; (3) Determine the occupant's plans for vacation of property and make arrangements for final inspection and the .1dng of physical pos- session; (4) Make a preliminary estimate of the sale value of improvements for removal or sal- vage; Make a preliminary estimate of demolition costs; (5) (6) Make a preliminary estimate of the amount of rental to be charged. b. Protection of Property. To provide for pro- tection against vandalism and fire for vacated prop- erties, the Sponsor should: (1) Have all utilities disconnected; (2) Clean out other fire hanrds; (3) Post notice of Sponsor ownership; (4) Notify local police departments. 132. OWNER RETENTION. Except in areas where the relocation of the buildings would not he consistent with planned urban development, the owner of improvements or appurtenances on lands being acquired shall be allowed the option of re- taining his improvements or appurtenances at a retention value predetermined by the Sponsor preferably by the comparative process with im- provements sold at public sale. This predetermina- tion should normally be made prior to the start of negotiations. 133. RENTAL OF PROPERTY. If the Sponsor decides to rent the property it has acquired to an owner or a tenant for a period subject to termina- tion on short notice, the Sponsor should: a. Establish the fair rental for the property on the basis of a uniformly applied rental policy; b. Prepare rental agreements. When preparing the agreement the Sponsor is encouraged to grant a free rent period of 90 days for those occupants of dwellings acquired under the ADAP/FAAP project. c. Supervise property and rental collections through term of lease, making sure all conditions of Lae lease are complied with and that the improve- ments are vacated in time for clearance from the project area by sale and/or demolition, before con- struction or other need that requires clearance. 134. SALE OF IMPROVEMENTS. Since sale for removal or salvage will generally reflect the greatest return or saving to the project, every effort should be made to utilize this method of clearance. Thus, as soon as a sufficient number of buildings are vacated, they should be scheduled for disposi- tion. At this time the Sponsor should have complete data on the location, description, sale, or salvage 73