Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 61, No. 4, July/August

A Long Way Down: Responding to Elevator Emergencies
Adapted from the 1995 edition of Before Disaster Strikes Being trapped in an elevator makes even the bravest person feel vulnerable. If an elevator breakdown occurs during an emergency and if it is accompanied by property damage, the situation can be...
Casing the Joint
Really want to see how vulnerable your property is to crime? The first step is to think like a criminal, according to Sal DePasquale, regional security manager for Mentor Associates in Atlanta. "Criminals are not stupid," says DePasquale. "They will...
Defusing the Workplace Time Bomb
All it takes is a few hours of TV newscasts to have each of us looking a little warily at the person in the next cubicle or the visitor in the waiting room. But are these fears real, or are they exaggerated by the media's unquenchable appetite for sensation?...
Does Intellectual Property Trump Real Property?
Displaying or incorporating art in a commercial building can be aesthetically pleasing and can be a wise investment. However, artwork can also create a trap for the uninformed owner or manager. Because of a 1990 federal intellectual property statute,...
Do Property Managers Need Windows '95?
With the introduction of Windows(R) 95 and the almost 17 million copies of it already sold, Microsoft continues to lead the computing public into new directions. That's both the glamour and the pain of an interest in and dependence on technology. Microsoft,...
Financial Triage for Aging Condos: Can This Condo Be Saved?
Back in the 1980s, when the condominium market became saturated in Chicago, some converted properties took a downward turn. Buildings located in less desirable neighborhoods were hit the hardest. Unit values dipped, and condo owners' real estate investments...
Good Dog!: Effective Pet Policies
Have you ever had a current or prospective resident ask you the $6 million leasing question, "Do you take pets?" I'll bet you have, unless you just started in the apartment management field today. The more residents ask, the more managers realize that...
Helping Employees Keep Their Balance
You may think that an ideal employee is one who puts the job above everything, but an employee who invests too much emotion into work is a violent incident just waiting to happen, says Joe Greenblatt, CPM(R) vice president of Sunrise Management Co. in...
High-Impact Marketing Hits the Mark
The One East Wacker building, a 41-story, 565,961square-foot office building in Chicago's north Loop, has leased 52 percent of its vacant space in just one and a half years. Total occupancy increased from about 80 percent on December 31, 1993, to a June...
Intensive Care: Managing Industrial CIDs and PUDs
What kind of condo these days would attract owners without offering them a pool, a state-of-the-art kitchen, or a fitness center? The answer is an industrial condo. Industrial-condo and planned-unit-development (PUD) communities-industrial parks comprised...
Is That You on the 6 O'clock News
Our lead story this evening; a man was found shot in a stairway in the 900 block of Riva Road this afternoon. Let's go live to Barry Johnson at the scene for the latest..." If this hasn't happened to you yet, it will. It doesn't matter if you manage...
I Thought I Saw a Rat
Once you have a rodent problem, it only multiplies-literally and figuratively. According to the Department of Health Services, a female rat can breed at two months of age, and produces four to six litters of six to 10 pups each in her year life span....
Property Managers Everywhere
Property management-the activity dedicated to generating the greatest possible net return from a property over its fullest economic life." Lloyd D. Hanford Sr., CPM(R) As this quote implies, there are two imperatives in property management. First, the...
Revenues from the Rooftops
They are ideal tenants-a property manager's dream. They pay rent but don't complain about air quality or plumbing. All they ask is to be left on the rooftop where they can chat, buzz, bounce, receive, and relay signals with a host of other wireless transmitters,...
Safety First
It is 9 a.m., Friday, October 13 at Big City Real Estate Management Company headquarters. A deputy marshal has just served the company's corporate counsel with a summons and complaint styled, "Jane Doe, Plaintiff, v. Big City Real Estate Management Company...
Smart Apartment Acquisitions
Few would disagree that purchasing a 300-unit apartment complex for $13 million is a significant investment. Amazingly, some buyers make such large investments without taking the time or developing the expertise to really understand the current operations...
What You Need to Know about Lead Disclosure
The long-awaited, much dreaded regulations on lead paint disclosure were finally issued by the EPA and HUD in March 1996. These new regulations require owners of residential properties built before 1978 or their agents to inform lessees and buyers of...
You're Only as Good as What You Know
A property manager of 50 or even 15 years ago would hardly recognize the fast-paced real estate world of today-technology, economics, and owner sophistication have all fundamentally changed the skill set required for management success. We all know that...

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