Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 65, No. 2, March/April

A Practical Guide to Using Letters of Intent
If properly used, a letter of intent can be a valuable time and cost-saving tool to real estate professionals in negotiating and documenting a real estate transaction. Using a letter of intent allows the parties to determine whether they can reach agreement...
Bathroom Beautification
With rental markets as good as they have ever have been, competing with an aging product is tough at best. The question of remodeling and how to go about it is a hot topic. One of our challenges at AIMCO, and I'm sure the challenge that most property...
Designing for the Disabled
The Fair Housing Act was amended in 1988 to include broad accessibility requirements for new multifamily construction. In the 10 years since that amendment, multifamily housing providers, developers, architects, and engineers have often discovered these...
Five Strategies for Successful Management
Strategy 1: Stress Customer Service Begin by changing your office hours to 10:00 until 3:00, with an hour off for lunch. Leave a message on your answering machine that you will call back the next day in case of an emergency. Never stay open on weekends,...
Gardens in the Sky
Everyone knows the challenges of maintaining roofs, particularly those prone to leaks. Solving the problem can create a headache for most property managers, and though it may seem preposterous at first thought, a garden rooftop could be the solution....
High-Tech Leasing
New technology companies are starting up as fast as you can say T-1 line. Technology changes by the minute and young entrepreneurs, ready to be the next AOL, aren't wasting any time setting up shop. Though their business plan projections has them replacing...
Information at Any Cost?
American democracy is based on the free flow of information-the ability to know the facts and make an informed decision. And in this, the Information Age, never have more people had access to so much information, almost instantly. Yet despite the fact...
Interview: Seller Redux
Marcus & Millichap Real Estate Investment Brokerage is one of the leading players in real estate investment transactions. The majority of its business is with the private-client sector. William A. Mithchap, president and CEO, offers some insight...
Learning to Really Communicate
As we head into the millennium, a manager has more ways of communicating then ever before. Yet, most of us usually only hear half of what is being said and, if speaking, are only putting forth half of the energy into communication that we should. Today's...
Legislative Update
ADDITIONAL TAX PROVISIONS In addition to several provisions relating to REITs reported in the last issue, the tax legislation passed late in 1999 had two other sections of interest to real estate professionals. New provisions require that sellers of...
Mastering the Negotiation Process
by Tom Gile, CPM*, RPA Negotiation is a process, not an event. That's the biggest lesson any new property manager can learn. All too often inexperienced managers believe a few sure-fire tricks they read about or hear on tape will give them the tools...
Plugging the GAAPs in Your Lease Language
Many commercial leases include a provision staring that operating expenses or common area maintenance (CAM) should be prepared in accordance with generally accepted accounting principles (GAAP). Yet, inconsistencies may exist with GAAP and other provisions...
Separating the Hype from the Savings
Approximately 18 months ago, one of the hottest topics in real estate management was the tremendous savings that buildings could realize by buying electricity on the open market. Gas deregulation had resulted in substantial savings for many properties,...
Solving the Maze
Faced with the endless twists and turns of Section 8 funding and the seeming dead ends of expiring contracts, real estate owners and managers are seeking the best strategy to preserve their investment and avoid negative tax positions for owners. While...
The ABCs of Cable Contracts
The alphabet soup that passes as the language of a cable contract is confusing enough to make you dyslexic. Learning to decipher the jargon and understand the terms is the only way to negotiate a good deal. Understanding a property's existing cable contracts,...
The E-Police
As e-mail, Internet, and other telecommunications options have come into common office use, employers are increasingly becoming concerned about the possible misuse of these technologies by employees. In order to protect its legitimate interests, the...
The Twilight of the Mall: An Interview with Barry Libert
In today's e-commerce feeding frenzy, those who own or manage traditional retail space may well be wondering if the market has passed them by. Barry Libert of Arthur Andersen says stop wondering: you bet it has. Libert, who regularly speaks on the topic...
With Employees like These, Who Needs Vandals? People and Property Loss
When it comes to preventing property damage and losses at the buildings you manage, your staff can either work for you or against you. People initiate over 70 percent of property losses or make them more severe. In addition, one out of every four fires...