Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 69, No. 3, May-June

A Perfect Match: Recruiting a Good Employee Isn't That Different from Finding a Spouse
More than 50 percent of marriages in the United States end in divorce. Marriage is the most important recruiting, interviewing and retention project of our lives, yet only half of us get it right. Jobs, just like unhappy marriages, don't all end in...
Better, Not Bitter: A Sure-Fire Employee Coaching Approach Will Eliminate Worker Resentment and Boost Productivity
Every company wants high-performance employees: Productive associates who contribute innovative ideas and execute their work efficiently and effectively to achieve the organization's objectives and increase profits. Every manager has the key to achieving...
Cents and Sensibility: Regular Maintenance Saves Money and Limits Liability
Why has this building's condition become so much worse in just the last few years?" asked the property manager of a 75-year-old Midtown Manhattan office building. The answer: A building's rate of deterioration is not uniform. The degradation of...
Course Listings
COURSE NUMBERS KEY ASM603 - Commercial Real Estate Financing and Valuation - Part One ASM604 - Commercial Real Estate Financing and Valuation - Part Two ASM605 - Cash Flow Analysis: Practical Applications BDM601 - Maximizing Profit: Growth...
Dallas' Downtown Is Up: Tough Times in Texas for the Multifamily and Office Sectors While Retail Stabilizes
The nationwide trend of downtown revitalization that has seen city centers transformed with new condominium conversions and flashy diversions including dining, retail and entertainment has left its mark on Dallas. However, despite the success related...
Do the Eyes Have It? A Brief Look at Biometric Security Technology and Applications
Tom Cruise had to hold on to his old eyeballs in order to gain entry to secured areas after swapping retinas in Minority Report. Sure, it's futurist sci-fi fantasy, but eye scanners are very much a present-day access control option. Biometrics,...
Elimination Strategies: Solid Policies Protect against Potential Sexual Harassment and Limit Liability
Owners and managers must take affirmative steps to protect their businesses from the potentially devastating legal actions associated with sexual harassment claims. Title VII of the Civil Rights Act of 1964 prohibits sex discrimination and specifically,...
Eyes on the Prize: New Technology Options Improve Access Monitoring and Control
In a time of increased attention to security and safety, building owners are focusing on ways to effectively monitor and control access to their properties through technology. [ILLUSTRATION OMITTED] Historically, security systems have consisted...
Go Buy Buy? Succession Planning Strategies Can Ensure Your Business Survives Your Loss and Thrives for Future Generations
The last reality any of us want to confront is our own mortality. Statistics show more than 80 percent of family business shareholders want their companies to survive after they're gone, but only 30 percent actually do. Industry experts agree that...
Has Compensation Become a Juggernaut? an Increasingly Competitive Real Estate Industry Demands Companies Adapt to Changing Employee Compensation, Benefits Needs
In today's changing, challenging and increasingly uncertain times, real estate firms are faced with often complex and difficult decisions about which strategies and tactics to deploy to improve profitability. Boards of directors and CEOs of real estate...
Hoard Your Gold: Cultivate a Workplace That Attracts and Sustains the Best and the Brightest-An Asset No Company Can Afford to Lose
The most important talent a manager can have is the ability to hire the best people. To capitalize on this, it is imperative you create an environment where employees stay and thrive, building your company's greatest asset--its people (the "gold")....
International Update
In March IREM representatives joined delegates from the NATIONAL ASSOCIATION OF REALTORS and the CCIM Institute on a real estate study mission to India. Immediate Past President Patricia Nooney, CPM, and Nancye Kirk, IREM's Vice President, Strategic...
IREMFIRST Sets a New Standard
When Ron Goss, CPM, arrives at the office each morning, second to his morning cup of coffee and outlining his daily schedule, he logs onto IREM's newly redesigned Web site, particularly the new IREMFIRST section. "I know that throughout the day...
IREM Policy and Legislative Activity from Capitol Hill Visits April 27 *
BANKRUPTCY REFORM ISSUE: IREM has been successful in including four real estate provisions in each of the bills that have passed the House and Senate: Single asset bankruptcy. Legislation that passed the House in 2004 would eliminate the $4 million...
Join the Club: Hungarian Real Estate Managers Are Training and Working Together
On May 1, Hungary became a member of the European Union. One fifth of its population of 10 million lives in the capital, Budapest. During World War II, 80 percent of the buildings in Budapest were either severely or completely ruined, but the re-building...
Know When to Hold 'Em; Managers Invest a Lot in New Hires-Are You Prepared to Follow Through?
We've all heard the tenet, "Hire for attitude, train for aptitude." I try to find candidates with both attributes, with more emphasis on attitude, while others search for the person with the highest skill level. Both types of employee require time...
Maximum Security: Expert Ralph Witherspoon, CPP, Shares Strategies to Identify and Remove Threats to Tenants and Property
It's a whole new world. Prior to September 11, the principal security concerns of property managers, whether office, retail, industrial or multifamily, were theft and potential million-dollar lawsuits from tenants or employees injured by criminals....
Numbers Game: Benchmark Your Position in Property Management with the Results of New IREM Member Demographics and Earnings Studies
The results are in from IREM's 2004 Profile and Compensation Studies of Certified Property Managers and Accredited Residential Managers. Surveys were posted online beginning in January 2004. An e-mail message was sent to all CPM members, candidates...
Recruit to Continue Our Success
Increase the value of your designation and the Institute by joining in the three-year IREM membership recruitment campaign now under way. Why the campaign? Three key reasons: First, demographics being what they are, we expect an unusually high member...
Sizzle and Sparkle: Create a Buzz about Your Services, Dazzle Potential Clients and Capture New Business with These Award-Winning Proposal Strategies
Today's competitive real estate market has made winning new business a complicated and demanding undertaking. A firm must not only have the staff and capabilities to provide services, but it also needs a highly effective way to present its qualifications....
Stand and Deliver: Sharpen Your Presentation Skills to Capture New Clients with These Winning Tips from an Expert Speaker
The greatest sales tool you possess is not your Web site, promotional materials or experience. It is you. Simply put, your ability to communicate is your number one sales tool. Whether speaking one-on-one or addressing thousands, your presentation...
Sweet Home Chicago
Being both the largest local chapter and existing in the shadow of the national headquarters might seem daunting for any IREM chapter. However, Chicago Chapter No. 23 takes it in stride, providing members a schedule chock-full of diverse events while...
Teach to Reach: Staff Trainers Bring a Fresh Perspective and Increased Returns to Professional Development
"You train animals; you educate people." --Maya Angelou One of the best ways to retain excellent performers is to invest in employees' professional and personal development. However, before proceeding, address these key questions: Do you need...
The Wright Stuff: A Reborn Frank Lloyd Wright Masterpiece Attracts Visitors to an Oklahoma Oil Town
Frank Lloyd Wright originally envisioned his tallest creation, Price Tower, in New York City. It ended up half a continent away amid the prairies of Bartlesville, Oklahoma, about an hour outside Tulsa. Wright referred to his 19-story, 221-foot-high...
Whither Capital Gains? the Bush Administration Proposes a New Method of Computing Recapture
Congressional debates about capital gains taxation are always conducted with a feverish religious undertone: You are either a believer in low capital gains rates or you're not. Currently, long-term capital gains are taxed at 15 percent, with depreciation...