Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 77, No. 4, July-August

15th Annual Capitol Hill Visit Day
THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) AND INTERNATION-AL ACCOUNTING STANDARDS BOARD (IASB) ARE ORGANIZATIONS THAT ES-TABLISH ACCOUNTING STANDARDS FOR EITHER NATIONAL (FASB) OR INTER-NATIONAL (IASB) BUSINESSES AND/OR NONGOVERNMENTAL ENTITIES....
Activity of IREM Ethics Boards at 2012 IREM Leadership and Legislative Summit
The Ethics Inquiry Board reviewed two new complaints. A CPM and ARM Member was charged by an outside party with covering up a theft in order to protect relatives, who were allegedly involved. The Board voted to investigate by asking for information...
Better Building Initiative BBI
[ILLUSTRATION OMITTED] Energy efficiency has long been a primary concern for property managers. The focus on generating savings is getting a further boost from President Obama's Better Building Initiative (BBI). Introduced in February 2011, the...
Burgeoning Bulgaria
Bulgaria is a small country with 7.5 million people, situated on the Balkan Peninsula facing the Black Sea. The country not only acts as a natural division between East and West, but features excellent conditions for sea, ski and spa--making it an...
Clearing Up the Cloud
All this talk about cloud computing got you feeling a little nebulous? "Cloud" has become such a buzz word that it's understandable. When it's demystified, all the cloud amounts to is a server-based directory--a location where your files are stored...
Crossing the Divide? Be a Boss, Not a Friend
Do you consider your employees to be your friends? We all feel a compelling need to be liked, a quality we develop as children. Being dependent on our parents from birth, we (earn behavioral habits that will benefit. our parents from birth, we learn...
DO You Feel That Business and Family Can Mix Successfully?"
Absolutely, but it takes three components from all family members involved to make it work: patience, compromise and courage. For every Hefner, Trump or Murdoch partnership that has soared, there are many more that don't make it big, if at all. ...
Ethics in Social Media
I love social media. It's so ... social. One might even call it a social lubricant, since--like a glass of wine--it can help a shy, insecure person become more bold or gregarious. Also, like wine, it's a lot of fun. Social media can also be very useful...
Father-Son Team
* JPM [R]: Chris, how did you get started in property management? Chris: Well, I was a commercial banker for 26 years and some of my customers were partners who were involved in property management. One of my friends, a former banker in Bloomington,...
Friend
Too Close for Comfort The issue of excessive friendliness affects experienced and new managers. Some allow themselves to become too close to their employees, despite not being equals within the realm of the business. Even bosses who keep employees...
iManage: iPad for Property Managers
For property managers, business as usual has been Left at the office. Onsite and online, today's ' managers increasingly have one indispensable tool with them at ail times: an iPad. [ILLUSTRATION OMITTED] It's not a Laptop, not a netbook, not...
In-House Promotions to Management: A Recipe for Success or Disaster?
When promoting employees from non-management to management positions, don't rely solely on employees' abilities to complete the duties of their present positions. Current performance is not the best indicator of how people will perform in another position...
I Wish
The Samuel & Josephine Plumeri Wishing Place is a place for sick children to experience hope, strength and life without the limitations they live with every clay. In the teen lounge at Make-A-Wish Foundation of New Jersey's Samuel & Josephine...
Reliability Centered Maintenance (RCM)
Before the advent of Reliability Centered Maintenance (RCM) all Preventive Maintenance (PM) was given a high priority and strict emphasis on completing all PM was expected. In addition, only a minor distinction was placed on PIV required on critical...
Retailers Reinvesting in Russia: Record-Breaking Investment Activity Has Eluded Most Markets Curing the Economic Downturn, but a Few Areas in Russia Have Bucked That Trend
In 2011, Russia experienced record commercial real estate investment growth-200 percent above 2010 levels, according to research from CB Richard Ellis. The pace has slowed in 2012, but growth continues. Matjaz Cerjak, director of the Investment...
Swimming with the Sharks
If you've ever seen the television reality show, "Shark Tank," you know that the premise involves four mega-millionaire investors looking for the next "big thing." Every Friday night, these razorsharp business "sharks" battle to capitalize on the hottest...
Team Up to Clean Up
Unless your common area and tenant space lighting is on motion sensors, it is likely that your entire building is lit for the duration of the janitorial staff's work. The cost of this is huge: a typical office building may have tenants in the building...
The Paper Trail
Like many of you, I juggle several different properties and several different accounts, while making sure all accounts are separate, treated equally and handled lawfully. I think we can all agree that accounting is a large portion of what we do...
Victory over Vacancy: Reposition through Renovation
"With office buildings facing so much competition, real estate owners and managers have to try everything," said Linda DayHarrison, CPM, and founder of the online commercial real estate professional directory, theBrokerList. "They can't just sit there...
When Work Is a Family Affair
You're lucky, you work Pr your dad! In my lifetime, I have heard this statement almost as often as I have told someone where I work and what I do. While it is not entirely untrue, anyone who has worked in a family business realizes that it is not all...