Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 75, No. 2, March-April

Accounting Rules Continue to Impact Commercial Real Estate
THE CREDIT CRISIS HAS PUT IMMENSE PRESSURE ON THE COMMERCIAL REAL ESTATE INDUSTRY. Liquidity in the commercial real estate market has been considerably hampered by one of its key lending vehicles-the nearly frozen $900 billion commercial mortgage-backed...
A Change in Season
By now most of us are looking forward to spring and all the fresh ideas that come with a change in season. Winter may not be quite over but it's a good time to look at how the year is progressing and to re-evaluate the goals and plans we set forth...
A Penny for Your Ethics Take into Account the Code of Professional Ethics before Going on a Savings Spree
ARE YOU LOOKING FOR PENNIES THESE DAYS? AS ANDY ROONEY MIGHT REPLY, "I KNOW I AM!" Property managers pride themselves on their ability to find savings for their owners and properties. After all, that is part and parcel of the expertise we bring...
Conventional Wisdom: Managers of Apartments Accommodating Senior Residents Will Likely Experience Success in the near Future
As people age it becomes increasingly important they find housing that addresses their changing needs. Real estate managers who offer amenities and services keyed to seniors' needs are likely to attract and retain a growing, stable and appreciative...
Ethics Board Active at IREM 2009 Fall Meetings
The Board of Ethical Inquiry reviewed two new complaints. In the first complaint, a homeowner's association (HOA) charged a property management firm with failure to provide accurate financial records and a lack of fiduciary responsibility. The Board...
Fixture vs. Trade Fixture Rely on the Law to Resolve These Landlord/tenant Disputes
IN TODAY'S ECONOMIC CLIMATE THERE HAS BEEN UNPRECEDENTED TENANT TURNOVER. This turnover often is not a result of an expiring lease, but instead due to nonpayment of rent resulting from business failure. As a result of this increase in business failures,...
In the Presence of the Past the Palace of the Governors in Santa Fe, N.M., Reveals a Rich History
KNOWN FOR ITS CULTURAL DIVERSITY AND RENOWNED ART COMMUNITIES, New Mexico has a rich and dynamic history worthy of its state slogan, "Land of Enchantment." Standing as a witness to the state's history is the Palace of the Governors in Santa Fe, N.M....
IREM International Members Discuss the Future of Real Estate Management
What opportunities are ahead for the real estate management industry abroad in the next 2-3 years? Some of our international IREM Members shared their thoughts about what's next for the industry in their countries: JAPAN In the Japanese market,...
Know Your Code of Professional Ethics: The Pledge
I pledge myself ... the first three words of all five paragraphs that make up the Pledge of our IREM Code of Professional Ethics. These five paragraphs are the foundation of our Code of Professional Ethics. A pledge is a vow; a binding promise or agreement...
Liquidity Crisis Responsible Water Management in Buildings Will Increase Efficiency and Lower Costs
"WHEN THE WELL'S DRY, WE KNOW THE WORTH OF WATER."-BEN FRANKLIN, 1746 Long before the first municipal water systems, buildings had rain barrels, wells or cisterns. People used water judiciously because it was scarce. Unfortunately, modern delivery...
Mind Probe
* Using Assessments to Screen Candidates * is a Rigorous Process, * Sometimes Resulting in Nothing More * than Smoke and Mirrors Hiring the right employees is the ultimate return on investment for managers. By placing quality hires in appropriate...
New Bill May Tax Income from Carried Interest
ON DECEMBER 10, 2009, THE HOUSE PASSED A "TAX EXTENDERS" BILL (H.R. 4123), WHICH INCLUDES EXTENSIONS ON A VARIETY OF TAX BREAKS SCHEDULED TO EXPIRE AT THE END OF 2010. This piece of legislation has several provisions beneficial to the commercial real...
Provincial Progress Rocky Mountain Playground of Alberta, Canada, Offers Opportunities in Residential and Energy Management
IT'S CALLED CANADA'S ROCKY MOUNTAIN PLAYGROUND FOR A REASON. Home to Calgary and Edmonton, the western province of Alberta offers a variety of tactile resources and outdoor adventures. As the world's second largest exporter of natural gas and the fourth...
Road to Resolution: Understanding Alternative Dispute Provisions Can Help Avoid Contractual Conflicts
The costly expense and time-draining nature of litigation is spurring change to many commercial real estate contracts, which have traditionally required any dispute be resolved through litigation in a court where the property at hand is located. ...
Speech Therapy: Delivering a Great Presentation Requires Preparation and Poise
You've been working hard on a proposal for a potential client because the account could put your company on the map, and finally, you've been granted the opportunity to make a strategic oral presentation. Suddenly, you're a little lightheaded, and...
Sustaining the Future: Innovative Buildings in Japan Foreshadow a Nationwide Movement toward Green
Japan's Prime Minister, Yukio Hatoyama, recently surprised the world at the 2009 United Nations Climate Change Summit, when he announced his nation's aggressive goal to "decrease heat-trapping gases by 25 percent by 2020." [ILLUSTRATION OMITTED]...
Test Subjects
A variety of pre-employment screening tests exist for employers to evaluate the best candidates for a position. The tests come with risks and rewards, though, along with legal implications. In all cases, the candidate's permission should be obtained--in...
What's That Smell? Unbelievable or Outrageous True Stories about Everyday Experiences in Real Estate Management
ONE DAY A TENANT CALLED TO REPORT A BURNING RUBBER SMELL IN HIS OFFICE. I went to his office building and with my "keen sense of smell" deduced that one of the HVAC units had thrown a belt. I called my HVAC company and they checked out the units but...
What's Your Impression? Always Present a Positive Image to Prospective Residents
AS A SITE MANAGER AND REPRESENTATIVE OF YOUR PROPERTY, COMPANY AND OWNER, YOU are the first contact with a prospective resident. How you present yourself and your property will ultimately influence the decision of prospective residents and whether...