Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 61, No. 2, March/April

A Case in Point
My belief in the viability of public/private partnerships is based on first-hand experience. Our company manages five public housing communities for Dade County HUD in Florida. Gregory Byrne, director of Metro-Dade HUD, has taken the best of both public-...
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Attention! Military Housing Wants You
The Department of Defense (DoD) is coming to grips with a real and growing problem: Inadequate housing that is encouraging retirements, discouraging people from entering the military, and causing general hardship for many of its personnel. At a time...
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Cough, Gag
OSHA estimates that there are 575,000 chemicals in existence today, with new ones being added every day. It is not surprising, then, that property maintenance workers and even administrative personnel come into almost daily contact with potentially hazardous...
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Finding the Fit
Virtually since its inception, the institutional real estate market has been clamoring for data--more data, better data, and still more data. And though they grumbled, property and asset managers complied As a result, investors were confronted with a...
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Five Tips for Maintaining Good Broker Relations
The real estate brokerage community is a critical part of the successful lease-up of commercial properties. In the Chicago area, for instance, 90 percent of leases over 5,000 square feet utilize the services of a real estate broker. As owner representatives...
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Good Things in Big Boxes
Once the "cool" destinations for moms in capri pants and teenagers in '57 Chevies, the sleek shopping oases of the 1950s are showing their age. Many thirty-somehing centers have antiquated layouts. Small enclosed malls can't compete with the super-regionals....
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How to Avoid Being Sued
No matter how careful a manager you are, it is probably impossible to avoid litigation completely. We live in a litigious society. But what you can do is take steps to ensure that if you are sued, you are in the best legal position possible. By following...
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It Pays to Check Lender Errors
Adjustable Rate Mortgage (ARM) errors -- that means home loan errors, right? Wrong, according to George Ostendorf of Hanover Capital Partners, a financial services firm specializing in mortgage auditing for the lending industry. He states that "the incidence...
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Maintenance Software Comparison
When shopping for property accounting software to track tenants and cash flows, have you considered what a software program could do for your property's maintenance? More property managers are discovering the competitive advantages that maintenance software...
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Managing for Tax-Credit Compliance
Since its creation in 1986, the low-income housing tax-credit program has become the most popular method of financing affordable multifamily apartments. However. managing tax-credit housing is not something you can just take up tomorrow. You need a good...
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No Manager Is an Island
When John Donne, the 17th century poet, wrote "No man is an island, entire of itself. ..," he could have been talking about the business of commercial real estate. Donne knew over 300 years ago what many real estate professionals are just now discovering;...
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Quick - Think on Your Feet!
Maybe it happens in the middle of a business meeting. Or in a one-to-one conversation. Perhaps during a sales call. Things are moving along just fine ... when you're suddenly thrown for a loop by an off-the-wall question, a blunt criticism, or a hostile...
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Shedding Light on Lighting Retrofits
Lighting accounts for roughly 25 percent of the electricity consumed in the United States. Attempts to reduce that figure have led utilities to offer building managers rebates on the installed cost of lighting retrofits that reduce a facility's electrical...
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Tax-Credit Essentials
Low-income housing tax credits were created by Congress in 1986 to facilitate the rehabilitation and construction of multifamily residential property. Tax credits are spawning an entire sub-industry -- structuring them, underwriting them, brokering them,...
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The Customer Comes Second
The customer second] Heresy] But the answer "YES." Property management is a service business. We meet the needs of a multitude of clients, investors, lenders, residents, businesses, and homeowners' associations. Our success is founded on meeting each...
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The Management of Public Housing: Forging New Partnerships
A new source of business is opening up through the privatization of public housing management. It may not be glamorous or exciting, but some of the largest private management companies are already entering into this challenging field.The public/private...
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United We Stand
United We Stand...America has always been the land of the individual entrepreneur -- the place where a great idea and a little capital could build a fortune. From Andrew Carnegie to Bill Gates, we have embraced this mythical ideal. Even if we work in...
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What Tax Class Is Your Real Estate?
A taxpayer may hold real estate for a variety of purposes. How a taxpayer's holding is characterized, based on the property's use, will often control the income tax treatment of certain deductions during the ownership period and the tax treatment of...
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Working with a Net
Your maintenance person works 10 feet above the ground without being secured to a ladder, and you pay a $10,000 fine. Your groundskeeper hurts her back by picking up a heavy shrub incorrectly, and you pay 2O percent more in workers' accident insurance...
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