Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 70, No. 3, May-June

A Little Input Goes a Long Way
Your input guides the future direction of the Institute in more ways than you can imagine. [ILLUSTRATION OMITTED] Throughout 2004, a task force of IREM members convened to shape the future of the Institute's decision-making and governance activity....
Ante Up: Rent-to-Own Programs Prove a Creative Resident Retention Strategy for Apartment Owners
While the apartment market appears to be inching toward recovery in some regions, pockets are still lagging behind with significant vacancy rates and depressed rental levels. In many areas, new condominium developments and conversions are continuing...
Basic Training: Keeping On-Site Workers Up-to-Date on the Latest Employment Laws and Risk Management Issues
With 110 properties positioned throughout the New York City metropolitan area, Connecticut and New Jersey, building owner and manager Newmark Real Estate has its hands full when it comes to keeping 200 on-site employees up-to-speed on key issues ranging...
Board to Run: Expert Counsel to Conquer Common Pitfalls in Homeowner Association Meetings
Board meetings that last for hours without accomplishing anything, are disrupted by disgruntled owners, digress from the agenda and lack clear direction and purpose can become the bane of a property manager's schedule. Homeowner association meetings...
Get the Right People on Your Bus: Put Together a Winning Team through Adroitly Screening New Hires
A real estate firm advertised for an experienced senior property accountant. It filtered through 100 resumes, interviewed four prospects and met to discuss the final two candidates. Everyone leaned toward the same person--the resume looked perfect,...
Good Day Sunshine: The Southeast Shows Steady Gains with Standouts in Nashville and Florida
Maryland: Balti-MORE Improvements The Baltimore office market vacancy rate rose slightly in the fourth quarter of last year to 13.9 percent, according to a CB Richard Ellis report. The same analysis indicated the market registered 127,920 square...
Hands across the Water: A Member Shares His Experiences Developing a Friendship Agreement between Dallas Chapter No. 14 and IREM's Chilean Members
In early December I found myself on a 9 1/2-hour flight to Santiago, on a mission from IREM Dallas Chapter No. 14 to meet our Chilean property management friends. My visit was prompted by IREM headquarters encouraging U.S. chapters to establish...
Home, Sweet Home: A Sampling of the Latest Trends Facing Homeowner Association Managers
New legislation, litigation and luxury options are redefining the realm of the homeowner association (HOA). Here's a look at trends affecting condominium markets and the HOAs that care for them. A Mad, Mad World of Restrictions Read any local...
IREM, MHLI, NAA Partner in Military Privatization Certification Program
The Institute has joined forces with the Military Housing and Lodging Institute (MHLI) and the National Apartment Association (NAA) to offer the Certified Defense Privatization Manager (CDPM) designation, a five-day certification program designed exclusively...
IREM[R] Education Conference: An Oasis of Opportunities
The Westin Kierland Resort & Spa [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] November 17-19, 2005 Scottsdale, Arizona Governance...
IREM's Leaders of Tomorrow: Built to Last; A Brazilian Member Has Big Goals for Property Management in His Native Land
From the time he was 18 years old, property management has been the domain of Guilherme Ribeiro, CPM, one of the Institute's youngest CPM Members. He is involved with the development of IREM activities in his native land as president of Brazil Chapter...
Keep Up: Ongoing Instruction Guides Personnel Away from Legal Snags
Property managers are faced daily with the challenge of providing correct information to our on-site professionals. Two dominant issues we must focus on to guarantee a "legal action-free" work environment are the Americans With Disabilities Act (ADA)...
Meter Readers: Improve Utility Management and Costs through New Devices and Enhanced Review
If you've ever really looked at your home utility bills, you understand the complexity of rate structures. Obviously, property utility bills and utility management in general are much more complex. Even though on-site personnel are responsible for...
Open for Business: The Emerging Russian Market Attracts Both Homegrown and Foreign Managers
In Russia, real estate management can certainly be termed a young industry. It is concentrated almost solely in the business centers of Moscow and St. Petersburg. Moscow accounts for about 80 percent of all managed properties. Its market differs from...
Power Play: Managers Need Never Take Energy Bills at Face Value with Online Utility Billing Services and Software
When it comes to utility billing, monitoring and management, there are options aplenty to analyze and capitalize on data. Many utility companies offer customers access to a third-party solution that is essentially an online service that replicates...
Special Needs Met: A New Wisconsin Development Showcases the Design of a Deaf Senior Community
Imagine these retirement years: You live in a familiar community, but alone in a building populated with people who speak a foreign language. You can't speak meaningfully with the grocer, barber, gas station attendant or mail carrier. You cannot...
The Burnishing of Atlanta: Smart Growth Shapes a Mixed-Use Development on a Former Brownfields Site
Midtown Atlanta seems destined to once again rise from seeming destruction to find new purpose. One of the first sections of the city to be rebuilt following the Civil War, the area became home to Georgia's first steel mill in 1901. Close to a century...
The Seven Deadly Provisions: Expert Strategies to Skillfully Negotiate Thorny Retail and Office Leases
Are you ready to sit down and negotiate a great deal? Negotiations for retail and office space tend to focus primarily on the business or monetary terms of the lease--base rent, free rent and tenant improvement allowances. However, there are several...
True Value: The Case for Analyzing and Appealing Real Estate Taxes
With the increasing disconnect and seeming dichotomy between market fundamentals and capitalization rates, real estate owners are not only pressing revenue streams but also scrutinizing operating expenses to maximize profitability. Because real estate...
What Now? Be Mindful of Tenant in Common Options and Regulation Specifics
Managers have a vital stake in understanding the tenant in common (TIC) marketplace. A new opportunity opened when the IRS released Revenue Procedure 2002-22. This created a roadmap that, if followed, permits real estate held as a TIC interest to qualify...