Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 63, No. 1, January/February

Adaptive Reuse: A Bank into a Car Wash
The world "change" is defined as "to make different, vary, alter, modify or transform." And when your project is turning an obsolete money laundering operation (otherwise know as a bank) into a money-making, car laundering facility (car wash to you)...
Arming Yourself for a Tenant Audit
Why do commercial tenants audit landlords? In part it may be the times. During the recession of the early 1990s, corporate cutbacks brought severe pressure to reduce costs. The relatively new idea of lease audits was considered an innovative way to "find"...
Choosing a Collections Agency
Even if you happen to have the best screening and collections team around, you are still going to run into a few residents who simply can't or won't pay. Once eviction proceedings are over and you've recovered your property, many management companies...
Downtown-Probably; Disaster-Not If We're Careful
For real estate professionals who lived through the market downturn of the early 1990s, the prospect of another cycle of overbuilding brings on feelings of foreboding. No one would want to go through another period of 20 percent vacancies and costly...
From Goal-Setting to Goal-Getting: With a Little Help from Your Coach
Business coaching has been getting a lot of media exposure lately, from Inc. Magazine to Fast Company and Fortune. Is coaching a fad? A trend? Is it here to stay? Actually, coaching has been synonymous with successful sports professionals for a long...
Hiring on Instincts
He was the perfect candidate: a strong resume with the right experience, neat and articulant, great references, and appeared interested in the job. He was even in the salary range. But something didn't feel right. You didn't know what it was, and you...
HVAC Upgrades as Retention Tools
Want to make your commercial tenants an offer they can't refuse at renewal time? Tell them you'll increase their worker productivity by 5 to 15 percent. Losses in productivity in the work environment result in billions of dollars of losses each year....
Interview: Andrew Wood
JPM. What is the most important industry trend you see today? Wood: The key trend is consolidation, but that, in turn, is giving rise to two further trends-the need for the transparency of market information and the need to be more efficient. Both of...
Legislation Gets off the Ground
The Real Estate Industry Awaits New Direction. The direction and timing of legislation and regulation may sometimes seem as erratic as a current of air, yet few events have more impact on real estate sales and operations. While predicting the exact nature...
News Extra: The Midwest
Northern Indiana continues to have stead business development with 3% unemployment. The South Bend/ Mishawaka market has expanding retail construction with a vacancy rate of 9%, but apartment construction is flat because of strong home sales. Apartment...
News Extra: The Northeast
Economic growth in Greater Boston is excellent with a 3.4% unemployment rate. There is talk of CBD office development, while apartment vacancies remain under 2% despite the construction of approximately 3,000 units in 1997. As a result, apartment rents...
News Extra: The Southeast
Northern Virginia's office market remains strong with a vacancy rate of 6.6%. Direct rents are up $1 psf in many parts of the market and almost $2 psf in Tysons Corner and Reston. High concentrations of high-tech firms are supporting the economy. In...
News Extra: The Southwest
In Houston, strong expansion has added 50,000 jobs a year thanks to growth in the energy sector and relocations such as that of Continental Airlines, according to O'Connor & Company. Apartment vacancies are 7.1%, despite booming housing starts. Greater...
News Extra: The West Coast
The Hawaiian real estate market continues to suffer, according to an economic report from the Bank of Hawaii. Residential values have fallen 10% in Oahu since the early 1990s and may not have reached bottom yet. Military base reduction is one contributing...
Real Estate 98
If you are reading this, you have survived '95 and are now enjoying economic conditions "that are as good as we have experienced in our lifetime," according to Dr. William Dunkelberg, professor of economics at Temple University. Speaking at the Grubb...
Screening out Delinquencies
If you're like most property managers, you can probably complete this sentence with enough tales of woe and misery to raise the hairs of even the most ardent Edgar Allen Poe fans. Deaths and divorces, layoffs and strikes, drug dependencies and bouts...
Smart and Ready
Successful commercial real estate in the 21st century will be smart and ready. The philosophy behind this concept is the simple notion of combining global connectivity and quality commercial property into a single, integrated product. Real estate is...
Smart in New York: 55 Broad St
To develop a smart-ready building to meet today's tenants' vast technological needs, Rudin Management of New York determined that a new model for distributing telecommunications bandwidth in office buildings was necessary. The 1980s gave us the shared-tenant...
Trends: Affecting Real Estate Management
This RVP roundtable took place during the 1997 IREM National Convention in New Orleans. All participants are CERTIFIED PROPERTY MANAGERS. JPM (Goodacre): Although most real estate markets are in the middle of a recovery, many experts already are predicting...
What's Hot What's Not
The needle on the real estate barometer gets more fickle every day. Rapid change in the business world has become a familiar phenomenon-too constant to even produce surprise. Once in a while, it helps to step back and take stock of what trends are passing...
Who Will Drive Future Demand?
Boomers and Their Echo Shape Tomorrow's Real Estate. What needs will your tenants have in 10 to 15 years? What kinds of housing will they be looking for? What products will retailers be offering them? Where will they want to work? Getting to know how...