Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 71, No. 2, March-April

After Disaster Strikes: New Orleans Property Managers Share Storm Struggles, Coping Mechanisms and Disaster Plan Strategies Nearly Six Months after Hurricane Katrina Hit the South
Creeping through one of his properties with a flashlight--surveying the mold growing up the wall, the dirt and grime caked on the water-damaged floor and the enormous holes where windows once hung--Michael Hilferty, CPM, and director of property management...
Aloha Hawaii: Hawaii's Real Estate Market Outlook Is as Appealing as Its Weather
Hawaii sits about 2,400 miles from the West Coast of the continental United States. And while most of the country endures much cooler temperatures during winter months, Hawaiians enjoy 78-degree weather on average from November through March. This...
Collaboration Leads to Returns for All
One of the most rewarding aspects of belonging to a professional association is seeing collaborative ventures come to fruition. I have collaborated with other members on both business ventures and IREM initiatives over the years, and everyone has enjoyed...
Coming to Terms: Agreement Provisions Beg Managers' Scrutiny
Property management agreements define the essential business processes to be pursued by managers on behalf of owners. While every paragraph of a management agreement is important, the following provisions are at the heart of risk allocation issues...
Common Interests: Tenancy-in-Common Investments Create Opportunities for Property Owners and Managers
The idea seems simple: Pool money together, and purchase a bigger and better piece of the proverbial pie. [ILLUSTRATION OMITTED] Such a simple idea in the form of a property ownership arrangement--tenancy-in-common--has resulted in great rewards...
Cost of Compliance: As the Justice Department Considers Proposed Changes to the Americans with Disabilities Act, Real Estate Industry Members Voice Concerns about Potential Cost and Compliance
As the Americans with Disabilities Act of 1990 reaches its 15th anniversary, the United States Justice Department is working on the first major overhaul of the act, which requires public facilities be built or altered to provide easier access for the...
Drowning in Problems: Floods Threaten Properties and Owners' Security
Floods don't discriminate. They can happen anywhere, at any time. And just one inch of water can cause costly damage to a property. Protecting a property against flooding can be as simple as using sandbags as a shield or purchasing flood insurance....
Evaluating the Ethics Toolbox: Institute Combines CPM and ARM Codes of Ethics, Holding All Members to Same Ethical Standards
Have you checked your ethics lately? Do they reflect you in the best possible light to your clients, your employer, your employees? Should they be evaluated? Should they be re-tooled? [ILLUSTRATION OMITTED] Professional real estate management...
Gloomy Forecast: High Deductibles Imposed by Insurance Companies Create Quandary for Property Managers
In 2004, it was Charley, Francis, Ivan and Jeanne. In 2005, it was Dennis, Katrina, Rita and Wilma. [ILLUSTRATION OMITTED] All these hurricanes caused damage and destruction to the United States, but for the first time since Hurricane Andrew...
In General, Specialize: Property Managers with Niche Prove Invaluable
Years ago, I interviewed with a national real estate company. The interviewer inquired about my strengths as a property manager. We all know property management requires someone with skills in everything from financial analysis to marketing to building...
Major Donors Help IREM Foundation Achieve Mission
A 501(c)(3) non-profit organization, the IREM Foundation was created to support the real estate management industry through education and research. With the crisis created by Hurricane Katrina, it recently expanded its mission to include charitable...
On Solid Ground: Cleveland's Landmark Maintains Vitality for More Than 75 Years
Tall and majestic, and built atop the nation's first underground rail station, Terminal Tower represented Cleveland's vitality when built in the 1930s. More than 75 years later, the building still embodies the city's history and culture and serves...
Property Managers Convert: As More Property Managers Get Involved with Today's Condo Conversion Craze, They Reap Rewards and Face Challenges Never Experienced Before
No one denies the strength of the condominium market in the past few years. The number of existing condo and coop units sold has risen 37 percent since 2002, and the median price of condos has risen 53 percent. [ILLUSTRATION OMITTED] Leading...