Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 70, No. 4, July-August

Core Strength: The Midwest Produces Healthy Gains with the Exception of Chicago's Office Market
Chicago: Turbulent Winds Chicago winds blow through empty office space these days. "The Chicago downtown office market has yet to register any signs of recovery since the downturn in 2000," reported CB Richard Ellis in its Chicago Downtown Office...
Curtain Call: A Member Uses His Professional Experience to Revitalize His Community by Helping Transform a Vacant Lot into a Performing Arts Center
AS IREM MEMBERS, we are all aware of obligations to employers, clients and fellow members. The Code of Professional Ethics details these obligations in a fairly straightforward fashion, speaking to our fiduciary duties and the need to deal with each...
Desktop Decline: Wireless Real Estate Applications Take Wing in Asia
The information technology industry did everything it could for 20 years to get individuals in front of their desktop computers. Here we are in 2005 when everything is wirelessly connected or can be, and now software vendors and hardware providers...
Do the Right Thing: Public and Private Sectors Face Similar Ethical Dilemmas
IREM members pledge to uphold a code of ethics from the moment they join the Institute. Ethics education is reinforced by a comprehensive complaint hearing program, one of the toughest in the industry. But what do IREM codes have to offer when the...
Eastern Intrigue: A Travelogue Reports High-Tech Amenities and Building Operations in the Far East
This spring's Realcomm Asia NextGen Commercial Real Estate Tour provided a glimpse of leading-edge building infrastructures and communications systems in Tokyo, Seoul, Shanghai, Hong Kong and Singapore. The nine-day trip included tours of 15 properties....
Famous Properties: Fresh Start; A Mixed-Income Development Brings New Promise to Former Gang Territory
Pueblo Del Sol, winner of a recent Urban Land Institute Award for Excellence, has changed the social fabric in the Boyle Heights section of Los Angeles. Previously a notorious public housing development known as Aliso Village, the new $103 million...
Feeling Guilty? "Suiting" Up for Battle Isn't Always the Best ADA Strategy
Florida seems to get hit with more than its fair share of Americans With Disabilities Act (ADA) lawsuits, which can be costly and time consuming. Many legal strategies exist to defend these suits, but one strategy saved time and money and greatly shortened...
Global Village: A Glimpse at Overseas Assignments for Real Estate Managers
Opportunities exist for U.S. property managers to practice their profession around the world. These can be with domestic companies operating overseas or developers and investment firms in other countries. The prospects with U.S. companies are found...
Go beyond Good Service: Five Steps Bring Exceptional Customer Service to Your Business
As I see it, property management is one of the purest service businesses out there. Superior service in any organization can be broken down into five basic steps: take the order, provide the service, review the order/recover, offer dessert and, finally,...
IREM's Leaders of Tomorrow: Poetry in Motion; an Arizona Member Makes Short Work of Certification and Steps Up to Steer Her Chapter
Batoun Herrington, CPM, ARM, is one busy person. She is currently the secretary, president-elect and chapter administrator of Tucson-Southern Arizona Chapter No. 73. Herrington first became familiar with the Institute through her work at Romano...
Leadership and Legislative Summit Highlights
Elections * The Governing Council elected Robert B. Toothaker, CPM, of South Bend, Ind., as 2006 president-elect. Regina T. Mullins, CPM, Washington, D.C., will serve as next year's secretary/treasurer. Both will take office along with 2006 President...
Let the Sun Shine In: A Comparison of the Benefits of Spectrally Selective vs. Conventional Window Film
When window film is good, it blocks heat, reduces HVAC costs and improves tenant comfort and productivity. When window film is bad, it does not block as much heat as it could, changes exterior appearance, reduces the ability to see into and out of...
Personal Limit: Explore the Benefits of Directors' and Officers' Insurance Coverage
Recruiting and retaining talented officers and directors is a tremendous challenge--especially in today's post-Enron environment, where qualified candidates are concerned about personal liability for wrongful acts committed by the company, other board...
Pick and Choose: A New Study Finds Leasing Agent Attitude, Price and Apartment Condition Play Major Roles in the Decision to Rent
HOW does a prospective resident decide which apartment to rent? Recently, a group of M.B.A. students in Toronto investigated factors involved with deciding to rent and their relative importance in the decision process while conducting a market research...
Pick Your Partner: Price Is Not the Only Factor to Consider When Selecting a Service Provider
Managers play an important role in improving tenant retention. I can think of nothing more vital to this goal than assembling a team who will provide exemplary service. This delivery team should be staffed with the best candidates. [ILLUSTRATION...
Plan for Results: A Case Study in Strategic Planning Illustrates a Model to Mobilize the Entire Organization for Success
most of us want a sound corporate strategy, clarified values and vision--all the management gurus tell us it's important, right? Fundamentally, it is adding value for clients that pays the bills, allows us to take that trip to Sun Valley and grows...
Real Estate Mortgage Investment Conduits (REMICs)
IREM's Position: We support amendments to the REMIC rules to allow more common modifications to property. The changes should permit: * Tenant Improvements. These should not be considered a significant modification. Under current rules, a tax opinion...
Tax Reform
IREM's Position: We support efforts to measure more accurately the depreciable life of buildings and conform amortization periods of tenant improvements more closely to the term of the lease. The current 39-year time frame does not accurately reflect...
To Market, to Market: If Your Marketing Plan Is Not Working It May Just Need a Good Tweak
Under-achieving assets have no place in HSA Commercial Real Estate's 15-million sq. ft. portfolio. So, when one of the Chicago-based property manager's 650,000-sq. ft. office buildings was no longer attracting new tenants, the company knew it was time...
We Reap What We Recruit
The more we work together to spread the word about the Institute and recruit new members, the closer we'll get to achieving our goal of being the first choice of real estate owners, investors and managers and their companies. Membership growth equals...
What's on Your Back? Two Dozen Ways to Empower the Back of Your Business Card
Only one out of 10 people features a unique message, map, calendar, formula or photograph on the reverse side of his or her business card. The other nine are apparently content with occasionally using this blank space for notes. What rewards accrue...

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