Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 58, No. 5, September/October

An Update on TRACS
A major automation effort is underway at the U.S. Department of Housing and Urban Development (HUD) in an effort to create financial integrity and improve the management of all assisted housing programs.A budgetary shortfall has been identified by the...
Bringing Condominium Management on Site
A growing number of condominium associations are choosing on-site management to better serve the needs of the owners, residents, and boards of directors. This reallocation of resources has often proved successful in both cost efficiency and quality of...
Communication Is More Than Just Talking
Smart managers have long recognized that effective communication is a vital component in building loyalty and trust with owners and tenants. Unfortunately, we often neglect to take the same time and care in communicating with our employees. In the rush...
Computing Management Fees
Commercial properties, whether the net operating income (NOI) is $1 million or $50 million, require management by highly skilled professionals who can reduce overhead, maintain a high level of tenant services, and protect the value of the asset. In face,...
Controlling Risk in Fee Management
In today's economic climate, many developers are aggressively pursuing opportunities to earn fee income. They want to escape the uncertainties of equity ownership for the perceived safety of regular fees for providing development management, property...
Don't Read the Want Ads
For most people, losing a job can be one of the most difficult experiences of their lives, but all too often, the process of finding a new one can be almost as bad.This is because the traditional methods used to find a job are essentially self-defeating....
Establishing a Quality Climate
Our organizations are filled with great ideas and solutions which have the potential to ensure success. The challenge that all leaders face is ferreting out those ideas and creating an organization that can address, develop, and implement them rapidly.But...
Getting Outsourcing Business
The climate o Corporate America is changing. Buffeted by storms of competition, threatened by shrinking margins and accelerating customer demands, corporations are becoming lean and cost conscious. As a result, the corporate umbrellas that once sheltered...
Hiring the Disabled: Theory into Practice
At Beatrice Leonard and Associates, of Oak Park, I11., accommodations are a part of daily life.Owner and President Beatrice Leonard has worked in real estate for seven years. She also happens to be blind and use a leader dog."When the department sent...
Implementing TRACS
According to Bill Anderson, a principal with A&M Software, Inc.. Burlington, Vt., the impact of TRACS on the management of subsidized properties will depend to a large extent on the current level of automation and on the professionalism of current...
Lead-Based-Paint Rule
The OSHA interim final rule on lead in construction, which lowered permissible exposure limits (PELs) from 200 to 50 micrograms of lead per cubic meter or air, went into effect on June 3, 1993.While initial monitoring for lead is not required for ever...
Measuring Quality
Total quality management (TQM) has been called many other things--"quality control," "quality circles," or "quality-centered culture." The name is not really important.What is vital is the understanding that a true quality-centered culture is a way of...
Outsourcing Property Management
Property management is considered the most cost-effective service to outsource by corporations, according to a new survey of corporate real estate executives conducted for NACORE by Ernst & Young.The survey of all NACORE members found that 50 percent...
Practical Steps and a Defense to Minimize Environmental Liability
"The '90s-decade of the environment."Perhaps this is an appropriate slogan. One thing is clear, however--environmental issues are at the forefront of public concern, and this is unlikely to change in the near future.The outcome of this concern has been...
Selecting the Best Roofing Options
Roofing may not be the most visible improvement property managers can make, but it is probably one of the most important.With the ever-widening selection of roofing products available, however, choosing a reroofing system can be somewhat bewildering....
Selecting the Optimal Retention Level for Your Insurance Program
The optimal level of risk retention for a property manager's insurance program should provide a balance between premium savings and assumed risk.A retention level ("retention" will be used interchangeably with "deductible") that is too low leads to "dollar...
The Changing Face of Corporate Real Estate
In May 1993, the Industrial Development Research Foundation published its Phase One report on Corporate Real Estate 2000, a project which is being conducted by a research team at the MIT Center for Real Estate at the Massachusetts Institute of Technology...
Writing Effective Resumes and Cover Letters
STATE YOUR GOALYour resume must have an objective so that you and the person reading your resume clearly understand precisely what it is you want. Objectives like "Senior position enabling me to further my professional training and experience" say nothing,...