Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 69, No. 5, July-August

After Disaster Strikes: One Property Manager Bravely Shares a First-Person Account of a Tragic Tenant Shoot-Out and How He Supported a Wounded Employee, Worked with the Police, Controlled the Media and Restored Routine for Residents
It was a beautiful Miami morning in April 2001, with the sun glistening off Biscayne Bay. I was caught up on my work and was looking forward to a quiet day. As a property manager for 27 years, I had learned to dread phone calls that came during the...
Carolina Comeback: Multifamily and Office Net Absorption Rebound in the Queen City
When the NBA's newest franchise, the Charlotte Bobcats, takes the court this fall, its local fan base will undoubtedly be hoping for a swift rise to the top of the standings. Given recent economic forecasts, Charlotte-area property managers might be...
Check List: Criminal Background Checks Are Helpful but Be Mindful of Associated Risks
The increased availability of information via the Internet has spawned an industry devoted to providing credit, criminal and rental histories to landlords. Criminal background checks, in particular, seem like a reasonable business practice to help...
Clear Path: Task Force Members Discuss the Philosophy and Decisions Behind the CPM and ARM Program Modifications
The IREM Membership Admissions Task Force met throughout 2003, soliciting and considering member input and recommending changes to enhance the CPM and ARM programs. The group's hard work is evident in the well-considered admissions requirements that...
Darkness Falls: Lessons Learned and Continuing Concerns about the Power Grid, Back-Up Generation and Emergency Planning and Communication during Outages
The nation's largest blackout still looms in the memories of many East Coast residents as its anniversary approaches. Problems began last August 14 when generators shut down at three separately owned plants in Ohio and Michigan within a half hour....
Famous Properties: Boston's Signature Skyscraper
Boston's Old John Hancock Tower, an art deco structure notable for its rooftop weather beacon that changes color with the forecast, has been a reflection of the past for almost 30 years, mirrored in the glass surface of its 62-story successor. Acclaimed...
Get Your Money's Worth
Are you getting your money's worth out of IREM? [ILLUSTRATION OMITTED] One of the greatest, if not the greatest, values of being part of IREM is networking with other members. How much of it do you do? The people you connect with at IREM events--local,...
I'm in Charge Now? Understanding Your Role as a Leader Will Benefit Both You and Your Employees
After spending time secretly criticizing every decision by your manager, aspiring to be one yourself, finally, you are promoted and anxious to step into your new role as "head cheese." Once you settle in behind your new desk, you do what comes naturally....
IREM Policy and Legislative Activity
DEPRECIATION ISSUE: The Economic Recovery Tax Act of 1981 created a depreciable life of 15 years for all real property placed in service after December 31, 1980. The 1993 tax act changed depreciable life for a nonresidential building placed in service...
Landing the Deals
* Divaris Real Estate, Inc., which comprises Divaris Property Management Corp., AMO, has signed new leases with several companies, including Dermalogica, Inc., a division of The Dermal Group, in Irvine, Calif.; MetAmerica Mortgage Bankers, Inc., a...
Leadership and Legislative Summit Highlights
Elections * The Governing Council elected Frederick W. Prassas, CPM, of LaCrosse, Wisc., president-elect for the remainder of the 2004 term. This vacancy was created when Tony Smith moved into the office of president upon the resignation of David...
Light the Way: Lighting Audits Not Only Improve a Building's Operating Efficiency, but Recent Reports Show Positive Health Effects for Tenants and Growth in Retail Sales
Conducting a lighting audit is a very good way for owners and managers to analyze an existing lighting system with the intent of making changes to reduce long-term operating costs and/or improve lighting efficiency, worker productivity and satisfaction....
Mexican Evolution: International Trade and Professional Recognition Spark a Hot Market
Zero to 60 in 10 years! In the past 10 years, commercial property management in Mexico has evolved from individual companies taking care of their own space, usually within condominium offices, to professional global standards and practices within multi-national...
New CPM and ARM Requirements Take Effect in 2005
The following charts list the CPM and ARM requirements which will take place at the beginning of next year. These updated requirements: * Eliminate unnecessary administrative burdens. * Are streamlined, making them easier to understand and communicate....
Power Profits: Enterprise Energy Management Software Provides Data to Minimize Consumption, Improve Reliability and Reduce Overhead
Risk, in terms of energy cost, quality and reliability continues to be a primary concern for industrial and commercial businesses. Some regions have experienced radical price fluctuations due to the introduction of a deregulated market structure. Power...
Rebate Debate: Discounts, Rebates and Payable Fees Must Be Disclosed
Homeowners association management demands specific disclosure of any monetary benefits that could create a conflict of interest between the CPM Member and/or AMO firm. [ILLUSTRATION OMITTED] Michael and his AMO firm's practice of assessing extra...
Serve & Retain: The Increasing Importance of Customer Service in Property Management Revisited
In the first quarter of 2002, Kingsley Associates issued a white paper detailing the impact of property management service on tenant retention. The bottom line: tenants were between seven and 12 percent more likely to renew their lease if they were...
Servicemembers Civil Relief Act: This New Law Grants Military Personnel Special Rights to Terminate a Lease and Limits a Landlord's Right to Evict
Members of the military and their dependents are provided special lease termination rights under the newly enacted Servicemembers Civil Relief Act. The Act became effective on December 19, 2003, and is intended to replace and supplement the Soldier's...
Strange Bedfellows: Pairing IT and Engineering to Improve Building Systems Is Not as Farfetched as One Might Suspect
In information technology (IT), trends regarding the collective efforts of workplace teams are well-documented. In the 1990s, IT groups teamed with accounting departments to design property and lease accounting systems. In 2000, the teaming of marketing...
Top Multifamily Players Stable
The National Multi Housing Council's (NMHC) annual ranking of the top 50 apartment owners and managers revealed few shake-ups despite a record-breaking level of transactions and an influx of private investors attracted by low interest rates. "Many...
Where Were You When the Lights Went out? Last Summer's Blackout Was a Lesson Managers Should Be Prepared for Power Failures
Many New Yorkers know exactly where they were on August 14, 2003 when the entire city was plunged into darkness due to a massive power outage that impacted millions of people along the Eastern seaboard. [ILLUSTRATION OMITTED] Ice cream parties...
White Hot: In the Quest for Energy Savings, Cool Roofing Proves an Effective Tool for Building Owners and Managers
There's nothing new under the sun about white roofs. Builders in ancient Greece and Rome realized light-colored materials, particularly white, kept buildings cooler. The Greeks and Romans obviously weren't worried about energy savings in those days,...
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