Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 62, No. 4, July/August

21st Century Apartment Manager
The year is 2010. You just stepped out of a time portal linked to the 20th century. Beside you is the sales office of the apartment building you managed back in 1997. You note that while the 21st century does not look all that different, things certainly...
A Capital Gains Cut with Gains for Everyone
The current capital gains tax system serves as a disincentive for every American investor. Although Congress has conducted an ongoing debate about capital gains reform for several years, the current rate remains at 28 percent, a full 40 percent higher...
Behold Your Future
Know Your Lease Provisions, or Else! What if you could see three to five years into the future on every lease transaction? How much value do you think your clients would find in that skill? Unless you happen to be one of the clairvoyant few, you will...
Construction Defects: What's Your Role?
Construction-defect litigation is big business. Insurance carriers are paying millions of dollars to settle cases. Juries are awarding high judgments in those cases that do not settle. Many existing condominiums have construction defects, and there will...
Give 'Em Shelter: Make Room for the Aging Boom
When Mick Jagger sang "Gimme Shelter" in 1970, seniors housing was not a topic on anyone's mind. But as Mick and many of his fans boogie past 50, the buying and housing needs of the enormous Baby Boomer generation is an issue that is coming to the fore....
Group Relamping: A Bright Idea
Does your interior lighting look like a checker board? Are your maintenance professionals constantly relamping, running up and down ladders while running up your lighting costs? It may be time to take up group relamping, a proactive maintenance strategy....
Inside Your Laundry Room
If you've ever walked through your property's laundry room on a Saturday morning and heard those quarters jingle into the machines, the thought has probably crossed your mind: "Think how much more money we could make if we just owned the machines ourselves;...
Joining the Capital Mainstream
Now that real estate and Wall Street have found each other, they are not likely to soon be parted. Wall Street has given real estate investors what they have always wanted-liquidity, the ability to buy and sell interests in real estate as easily as stocks...
Learning to Compete after HUD Reform
The HUD Section 8 portfolio re-engineering program begins in earnest this year with the markdown of the expiring contracts to not more than 120 percent over the fair market rents for most properties. The demonstration program is writing down rents and...
Making Senior Housing Affordable
Assisted Living Concepts of Portland, Ore., is in the vanguard of making seniors housing more affordable. The company's cost per unit ranges from $55,000 to $70,000, depending on the region of the country. Comparable space in the same regions is likely...
Multigenerational Community Recreates Family
Thirty-eight low-income elderly call the Natalie Salmon House home. So do six low-income families, including 12 children between the ages of 5 and 18, and seven college students. The facility, located on Chicago's North Side, is one of two multigenerational...
School Reborn as Seniors Housing
Once an important community institution in Reading, Mass., the Pearl Street School was closed in 1984 due to declining enrollment and was mostly vacant for the next 10 years. Then developers William S. Casper and Edward Levitt decided the facility was...
Sexual Harassment: New Game, New Rules
Recent changes in the role of women have altered the rules in workplace behavior. Better public awareness, the increased willingness of victims to speak out, and changing standards of behavior have all contributed to lower tolerance levels for sexual...
Shopping for Vendors on the Web
Scientists say the human brain can simultaneously track and process only nine items without losing information. Any more, they say, is simply too much to handle at once. They obviously didn't use property managers in their testing, who these days must...
The Section 8 Carnival
One last chance for the brass ring or just one more ride on the roller coaster? While my own memory does not extend this far, my education and professional practice has taught me that for 60 years Congress has recognized that meeting the housing needs...
The Self-Directed Property Manager
Question: What do you see as the necessary qualities for sustained self-direction? Susan: Even when things go wrong, you've got to be positive! Joy: Compassion and the quality of service I deliver keep me going! Karl: I believe I can do more, and be...
The Spy Who Leased from Me
There they were again. For the second time in the Cold War fall of 1964, two non-descript men in an unmarked car had parked in the lot of Hampshire West Apartments, Silver Springs, Md. As soon as I came out of the leasing office, they pulled away. Not...
Winning the Manufactured Housing Game
"When you're hot, you're hot," goes the gambler's credo. Well, the hottest affordablehousing option these days is manufactured homes and the manufactured home landlease community-formerly, the mobilehome park. Today, one-third of all new housing in the...