Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 64, No. 2, March/April

Avoiding Animal House
by Steve Bergsman Thomas Trubiana remembers going to the annual meeting of college and university housing officers three years ago and speaking with executives from the other private companies involved in student housing-all two of them. However, at...
Championship Team-Building: Ready, Coach?
Frequently clients want to develop a team-building concept for the wrong reasonbecause they see everyone else doing it. Fearing they're out of the loop, they jump on the bandwagon without thinking what building a team really means or why it's important....
Damage Strategies
After an incident resulting in physical property damage occurs, a proper and thorough site/damage assessment must be performed, not only to determine the extent of the damage, potential recovery time frames, and costs, but to ensure the safe and healthful...
Empowerment Unites: Public Housing Agency Specialization and Private-Sector Property Management
Public housing property managers have been known to think and operate differently than private-sector property managers. Approaching the same tasks from different fundamental mind sets has resulted in wide discrepancies in both basic operational principles...
Ensuring Performance Quality in Commercial Buildings
Performance contracts have become a popular way for property managers to upgrade aging facilities and save money on energy bills. But what if you could go one step further and actually contract for comfort? What if you could "guarantee" equipment reliability...
How to Ace an LIHTC File Review
Let's face it, maintaining compliance on a housing credit property can be very frustrating for your onsite managers. From their point of view, compliance comes down to whether or not their files past the auditor's review. This point of view is a fair...
Interview: Scott Crawford-Leveraged Recapitalization
Need a capital infusion but not ready for the effort or expense of an IPO? Scott Crawford is a senior manager in the Los Angeles office of Ernst & Young's Corporate Finance Group. JPM: How does a leveraged recapitalization work? Crawford: A leveraged...
Keeping Buildings High and Dry
The calls poured in from the ninth floor. When Louis Velez, manager of the nine-story Rohm and Haas Building in downtown Philadelphia, arrived to investigate, he found water dripping through the ceiling and onto the desks of office workers. Further inspection...
Let Us Entertain You
From the frosts of Minnesota to the palm trees of Miami, the worlds of entertainment and retailing continue to merge. Symbolized by that retail/entertainment behemoth the Mall of America, shopping center owners and managers have embraced entertainment...
Measure Twice, Cut Once
Peter Drucker, a leader in management practice and theory, once said, "If you want it-measure it. If you can't measure it-forget it." This statement suggests that a manager can impact only those processes which can be measured. Is this true? If you consider...
President's Letter
Sustaining Our Industry-One Person at a Time At some point in our personal and professional lives, many of us have been fortunate enough to have had a mentor. Whether it was the teacher or coach who taught us to strive for excellence or the first boss...
Shopping Your RFP
With a myriad of insurance types to consider and the many insurance factors to sort through, the selection process can be a daunting task. But by keeping a close eye on the market and knowing what it takes, your request for proposal (RFP) can win you...
Strike It Niche
With the property management industry in a constant state of flux, business growth often depends on versatility. This can mean moving outside of the "traditional" avenues of third-party management and recognizing opportunities that can be accommodated...
Troubled Tax Credits: Prevention and Cure
The distress in the voice at the other end of the phone was obvious. "Why aren't these units leasing? We are not reaching our projections." The general partner of this new tax-credit development was calling every day; the limited partner was demanding...
Uncle Sam Wants You to Manage His Housing
The Department of Defense's 1996 Military Housing Privatization Initiative has been heralded as a faster and less costly way to solve the military's housing problems. The DOD had estimated that the privatization of an individual project-including a government...
Upscale Manufactured Home Communities? Really!
Can you imagine spending $135,000 to purchase a new two-story home and then paying up to $2,000 per month rent for the 1,500 square feet lot where it's sited? Well, it happens every day at upscale manufactured home landlease communities in Southern California,...
Wage and Hour Traps for the Unwary
On occasion, employees file charges with the United States Department of Labor (USDOL) or a state Department of Labor to assist them in recovering unpaid overtime, final wages, or pay for accrued but unused vacation. During the course of investigating...
Web Leasing: Help or Hype?
How about some straight "skinny" on the viability of using the Internet to lease apartment homes? We've all been approached by one of the several online rental advertising services touting thousands of "hits" to their sites, for pennies per day. Perhaps...