Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 76, No. 4, July-August

Activity of IREM Ethics Boards at 2011 Leadership & Legislative Summit
The following took place at the IREM Leadership & Legislative Summit this past April. The Ethics Inquiry Board reviewed one new complaint which alleged the Respondent changed the terms of a note to give buyers of the partnership's property preferential...
Art History: Coit Tower Paints a Pretty Picture of San Francisco's History
A TRIP TO SAN FRANCISCO IS NOT COM-PLETE WITHOUT A STOP AT COIT TOWER IN THE TELEGRAPH HILL NEIGHBORHOOD. Boasting 360-degree views of the entire city, the San Francisco Bay, the Golden Gate Bridge and the Bay Bridge, the tower has been a prominent...
Article 7: Conflict of Interest: Real Estate Managers Must Be Diligent in Acting in the Best Interest of Clients
Real estate managers run into conflicts of interest with vendors, condo board members, employees and on occasion, management companies. The IREM Board of Ethical Inquiry receives many complaints citing conflict of interest. Article 7 of the IREM Code...
Being Tired: Productivity's #1 Enemy: Take the Time to Implement Strategies for Avoiding Burnout
YOU MAY HAVE HEARD THE WITTICISM, "I CAN'T REMEMBER THE LAST TIME I WASN'T AT LEAST KIND OF TIRED." GOOGLING THE WORD "TIRED," I UNCOVERED A GREAT AMOUNT OF DIALOG ON VARIOUS SITES, INCLUDING THIS INTERESTING NOTE: "[I don't have that] 'I didn't...
Course Listings
JULY RES201 July 11-16 Erie, Pa. RES201 July 12-21 Las Vegas HRS402 July 12-13 Washington, DC MNT402 July 12-13 Sacramento, Calif. ASM 603 July 18-19 Anchorage, Alaska ASM603 July 18-19 ...
Diagnosing Concrete Cracks: Tell-Tale Signs Your Building Is "Cracking Up"
CONCRETE CRACKS ARE A FACT OF LIFE. WHILE SOME CRACKS MIGHT NOT NEED ATTENTION, OTHERS HAVE THE CAPABILITY OF CREATING SERIOUS STRUCTURAL DAMAGE-COMPROMISING THE SAFETY OF OCCUPANTS RESIDING IN THE BUILDINGS YOU MANAGE. CAN YOU TELL THE DIFFERENCE...
Discerning the Desirable: Finding the Right Multifamly Residents Means Looking beyond Fico Scores and Foreclosure
Here we find ourselves slowly, sluggishly advancing toward economic recovery in the aftermath of a recession. Even with so many tenants' and prospective renters' credit scores damaged by foreclosure, divorce, bankruptcy or other personal calamity,...
Don't Let the Bed Bugs Bite into Your NOI: Outsmart This Small but Powerful Enemy in the Properties You Manage
Bed bugs have made a comeback since the early twentieth century, and as a real estate manager, you've probably come into contact with--or at least heard stories of--the damage caused by these small pests. Contrary to popular myth, bed bugs aren't necessarily...
Don't Rest on "Best": Success Happens by Choice, Not by Chance
ON A LONG AIRLINE FLIGHT RECENTLY, I PONDERED WHAT SEPARATES THE BEST IN REAL ESTATE FROM THE REST. THE FOLLOWING ARE A FEW IDEAS THAT CAME TO MIND: Position for growth: Recently, a colleague expressed concern to me about a manager's performance....
Duty to Report: Determine When and How to File an Ethics Complaint
WHILE THIS ARTICLE ADDRESSES THE PROCESS OF HOW TO FILE AN ETHICS COMPLAINT, THE FIRST QUESTION TO ASK IS WHEN TO FILE AN ETHICS COMPLAINT. So, what do you do if you observe an ethically com-promised situation or decision? Article 13 of the IREM Code...
Family Values: IREM Regional Vice President Chip Watts, Ccim, CPM, Gives His Perspective on Working with Family, Tornadoes and Returning Home
Watts Realty Company, AMO, Is a fourth generation real estate management company. Are there any common themes your family has seen through the years? [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] My father and grandfather always said, "No...
Getting the Best Loan: Building Relationship Is Key in Today's Market
In the 20 years I have been a mortgage banker, I have never seen the lending environment quite like the one we have been in for the past several years, and chances are that capital will be scarce for several more years to come. That being said,...
Land of Proprietors: Latin America's Resilience Is Attracting Attention from Investors
LATIN AMERICA'S EXPANDING ECONOMY AND INCREASED CAPITAL FROM INTERNATIONAL INVESTORS HAS POSITIVELY AFFECTED THE REGION'S REAL ESTATE MARKET; still, a cloud of corruption, lack of transparency and high levels of poverty and violence in some areas are...
Put Your Best Face Forward: 3 Tips to Personalizing Your Business Facebook Page
PEOPLE WON'T ENGAGE UNLESS YOU ASK THEM TO. SO POST POLLS, SOLICIT FEEDBACK AND UPLOAD PHOTOS. (PEOPLE LOVE TO COMMENT ON PHOTOS!) RESPOND TO THEIR COMMENTS, AND KEEP THE CONVERSATION GOING. 1 POST COMPELLING CONTENT Interesting posts attract...
Rates of Return Refresher
MEASURING FINANCIAL PERFORMANCE BY CALCULATING RATES OF RETURN, AKIN TO KEEPING SCORE AT A SPORTS EVENT, IS ONE OF THE SKILLS REGULARLY USED BY REAL ESTATE MANAGERS. Keep it sharp so you can continue to meet or exceed financial goals and objectives...
Related Property Management, AMO: An Exclusive Interview with the President of a Team of "Impact Players"
Formed almost 40 years ago, Related Property Management, AMO, is a fully-integrated, highly diversified industry with experience in virtually every aspect of real estate development, acquisitions, management, finance, marketing and sales. Since developing...
Screen Test: Integrated Screening Increases Compliance and Streamlines Costs for Multifamily Managers
Fifteen to 20 years ago, assessing the risk of admitting a prospective resident into a multifamily community was not a particularly streamlined or comprehensive process. Credit bureau reports were the primary source of applicant data. Screening companies...
State Legislative Forum Updates: Energy Conservation, Health Care Reform and State Budget Shortfall Issues Impact Real Estate Managers in Every State
During the 2011 Leadership and Legislative Summit in Washington, D.C., this past April, IREM Members had the opportunity to discuss energy conservation, health care reform and state budget shortfall issues at the State Legislative Forum. These issues...
Staying Alive in the Black: Minimize Losses after a Tenant Enters Chapter 11 Bankruptcy
Over the past few years, thousands of companies have gone bankrupt, costing creditors billions of dollars. In many instances, rent represents the single largest recurring expense. Consequently, when business goes south, and companies begin to consider...
The Art of Helping Others IREM Foundation Blends Funding and Fun While Giving Back to Industry
KIMBERLY HOLMES (KHOLMES@IREM. ORG), IS MANAGER OF THE IREM FOUNDATION IN CHICAGO. THE JOE AVENI OPEN IS SCHEDULED TO TAKE PLACE FRIDAY. OCTOBER 14, 2011. AT THE IREM FALL LEADERSHIP CONFERENCE IN SAN DIEGO, CALIF. VISIT WWW.IFLC.ORG TO REGISTER...
The Power of Online Renewals: Online Renewals Are a Cornerstone of Your Resident Retention
As the retail adage goes, "the best customer is the one you already have." This sentiment holds true for multifamily as well: The best renter is the one you already have. Offering online renewals is an integral part of an overall resident retention...
The Power of Possible: See and Be Seen at the Fall Leadership Conference in San Diego
Discover the power of "possible" at the IREM Fall Leadership Conference--held October 11-15, 2011-by exploring a spectrum of knowledge offerings from the vantage point of sunny Diego. Whether you're a beginner or a heavy hitter in the industry, you'll...
Transformation Nation IREM Sets Sites on Shanghai in the Midst of Its Economic Redevelopment
On May 17, 2011, Ron Goss, CPM, [REM President and Nancye J. Kirk, chief strategy officer/vice president of the global services institute of IREM, shared the inauguration of the IREM Shanghai Chapter No. 118 with its president, Qi Liu, CPM, and 200...
True Grit
There are two types of "grit" in my life--"grits," the food and "grit," meaning fortitude. Both have more in common than you might expect in regards to IREM. What are grits? Quite simply, grits are crushed corn. Requiring only water and maybe a...