Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 65, No. 5, September

A Short Primer on Primers and Sealers
To get the best exterior painting results, it's often necessary to use a primer or sealer before applying the paint. Priming provides two important benefits: It maximizes adhesion of the finish coat, which adds to the life of the paint job, and it...
Background-MAKING A FEDERAL CASE Checks
Employers routinely perform background checks on applicants for employment. However, in September 1997, Congress amended the federal Fair Credit Reporting Act (FCRA) to place new obligations on employers who use such information. Although credit checks...
BEYOND THE DISTANCE BARRIER: New Technology for E-Training
In today's extremely tight labor market, companies in all industries struggle to hire and retain an educated work force. When attracting and keeping the right people is such a tough challenge in itself, the additional task of providing company or industry-specific...
Career Planning Key to Employee Retention
Within the context of low unemployment, rapid wage growth and demand by other industries for top talent, the real estate business has been forced to adapt rapidly to recruit and retain personnel. The real estate industry traditionally has been a second...
Demystifying Financial Statements
Accounting is often called the language of business because it's a primary tool used in the control of operations and in reporting accomplishments. You and I may see some form of monthly financial report for the properties we manage and maybe for the...
Employee Reviews -- Perform at Your Own Risk
An interview with Diane Kristen, Esq., principal of Kristen Coburn Chartered Employee performance reviews are ticking time bombs sitting in an employee's personnel file, waiting to explode if litigation occurs. So says Diane Kristen, principal with...
Finding GOLD
How to Hire Quality Employees The most valuable skill a property manager can have is the ability to find and hire excellent employees. Our "gold" is our people, yet little effort has been made by the industry to train managers in this important...
Get to Know Your Tenants before You Lose Them
Successful real estate managers and owners seize all the opportunities--be they relationships, timing, or market knowledge--to renew good tenants. In fact, a manager's greatest potential strength lies in his or her ability to develop sound tenant relationships....
Imaging Innovations-Turning Paper Mountains into Molehills
If you could request a new piece of furniture for your office, what would it be? If you chose a bookcase, credenza, or storage cabinet, you'd probably have to stand in line for a while. In the Information Age, companies of all sizes are finding themselves...
Memoirs of an Apartment Manager
Unfortunately, it's easier to remember the tenants who gave you the hardest time. Do you remember the tenants who took up a petition to get rid of you? How about the ones who put dead chickens in front of your door and put a curse on you? What about...
More Than Window Shopping
It seems as if no corner of the real estate industry has escaped the reach of technological change. The latest candidate for high-tech intervention is the low-tech marketing survey known as a "mystery shop." To some degree, of course, property shopping...
Performance Evaluations
How to Conduct Productive Performance Appraisals When you hear the words "performance appraisal," what is your first reaction? If you are like most managers, you probably express a frustrated sigh and think, "Not again! Has it been a year already?"...
President's Letter
A New Way of Working The most important corporate resource over the next 20 years will be talent: smart, sophisticated businesspeople who are technologically literate, globally astute and operationally agile. Gen X workers of today and their...
Property Size and Risk
Why Bigger is Not Always Better A recent survey of 426 plan sponsors and advisors (Louargand, 1992) indicated that, of the 125 responding, 50% use property size as an explicit diversification criterion in their equity real estate portfolio. However,...
Real Estate Demands of the New Economy
Major changes in economic life like the industrial revolution, the construction of the railroads, or the mass production of automobiles dramatically altered the demands for real estate space and locations. Similarly, changes in demography and cultural...
Resolving Construction Disputes out of Court through ADR
The construction industry has become known as one of the most adversarial and problem prone. Claims and disputes on construction projects are the rule rather than the exception. In the state of New Jersey alone, construction lawsuits cost millions...
The HR Handoff
Outsourcing Human Resources Which of the following are real state concepts directly tied to income or expense activities: gross potential rent, leasing skills, nonrent revenues, utility management, usage monitoring, HIPAA, COBRA, PRWORA, FUTA, and...
When an Executive Recruiter Calls
The phone rings, and an executive recruiter is on the line. How do you react? By the time the recruiter calls you, he or she has sifted through many possibilities for a specific opening, and you are among several candidates who, initially, seem...