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Journal of Property Management
Copyright Institute of Real Estate Management
COPYRIGHT ProQuest. All rights reserved
from January 2004
Last Number: May 2011
ISSN 0022-3905
[Content not included in vLex Global Academic]
All the contents
Year 2011
- Vol. 76 Nbr. 3, May 2011
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'Smart Growth' Drives Corporate Expansion
As corporations continue to tighten their belts in the wake of the global economic crisis, "smart growth" strategies are expected to fuel real estate expansion in 2011. A recent Global Corporate Real Estate Survey recently released by Jones Lang LaSaLLe and Thomson Reuters found an overwhelming 97% of respondents are already supporting their business with one or more tactical real estate plays to reduce costs and boost productivity. The survey also suggests that many companies are ready for g...
3 Steps to Take When Things Go Wrong
Incidents can and do happen to properties and companies. Natural disasters, fires, robberies, corporate calamities and even deaths occur. How your company handles the challenges and manages the situation can make all the difference between a stellar -- or a damaged -- reputation. Three simple tips to avert communication mishaps are: 1. Do prepare. 2. Don't delay. 3. Don't overlook the simple stuff.
When British General Lord Charles Cornwallis occupied the "Queen City" of Charlotte, NC, during the revolutionary war, he encountered such strong resistance from its resident patriots, that he wrote the city was "a hornet's nest of rebellion." Aside from the projected boost in all sectors of real estate from the Democratic National Committee, Charlotte still faces hard work ahead as developers work to secure future commitments from retailers in order to assuage the current lapse in constructi...
In many ways, managing a property for a real estate fund is just like managing property for any other owner. The real estate fund manager needs to have a clear understanding of the fund's goals and objectives for the property and its ability to provide cash for the property's operations, planned renovations or correction of deferred maintenance. Allocating funding for tenant improvement costs or leasing commission expenses is essential as is having an exit strategy for the property. The fund ...
Camden has always been committed to providing a great place to work for their employees. After all, most of them spend more waking time at work than at home. They have consistently devoted the time and resources to create shared experiences through cultural events and traditions. Their leaders set the example, but it is the commitment of every associate that makes Camden a great workplace by coming to work every day and making choices that create a fun, caring environment for their peers for ...
Capitol Hill Visit Day a Success
On Apr 13, 2011, IREM and CCM Institute members joined forces at this year's Capitol Hill visit day in conjunction with the leadership and legislative summit held in Washington, DC. It was a huge success with nearly every IREM and CCIM chapter represented on the Hill. During this exciting and educational event, members met with Congressional members and staff to discuss the following important and pertinent issues that affect the real estate industry. While the broader economy is starting to ...
City governments have a lot of on their plates in today's volatile political and economic environment. In 2008, under the leadership of former Mayor Kathy Taylor, the city purchased One Technology Center as a way to consolidate employees and assets from five separate locations into a new City Hall. In taking ownership of this building, the city also became the landlord to three corporate tenants. One of the tenants' biggest concerns was that the building was changing from a private office bui...
As professionals in the real estate management business, they are the go-to people for everything. In the beginning of the author's career, he tended to stress out when confronted with crisis situations, and found that it created unnecessary tension over the situation than was necessary. Here are five lessons he has learned along the way: 1. The majority of the time, the first call regarding a crisis is a bit exaggerated. 2. You must be prepared with necessary phone numbers and contact inform...
And while real estate managers may not be able to affect the outcome of a disaster, they do have the opportunity to take control of communications regarding the event -- potentially minimizing damage to an owner's or manager's reputation. The company has also generated a list of possible disaster scenarios and responses, as well as developed and disseminated materials to staff and residents about how to handle particular scenarios, like pandemic flu, before an event even occurs. Even if owner...
A business must serve its clients'/customers' needs for it to thrive. As a leader, you must first serve your employees, who in turn will better serve the customer. The tips on how to maintain strong customer-centric business are: 1. Serve. 2. Exceed expectations. 3. Recover. 4. Value. 5. Be accurate. 6. Provide notable results. 7. Be timely.
You've likely heard that lower operating costs, higher net operating income, increased marketability, reduced turnover and improved tenant satisfaction are some of the major benefits of implementing sustainable real estate management policies. According to a study published in the American Journal of Public Health, improvements to indoor environmental quality (IEQ) through green building practices can increase productivity by almost 40 work hours per year per employee -- essentially an additi...
Economists Predict Slow Jobs Recovery
Companies are slowly chipping away at high unemployment numbers. But it could take another four years -- or longer -- for the US economy to return to "full" employment levels. Barring any surprises, economists are predicting it will be at least 2015 before unemployment drops to 5.5%, according to a recent economist survey by the Wall Street Journal. Economists expect the unemployment rate to improve slightly to 8.8% by June and finish out the year at 8.4%. The survey also predicts a 3.4% grow...
Several products are reviewed. These are: 1. Fujitsu ScanSnap S100, 2. HP Envy M100, and 3. Aigo AIPower i616.
Because of overloaded telephone circuits, cell phone calling capabilities were limited for the first few days after the earthquake. As a result, emergency communication methods using Smartphone applications and social media sites became all the more important. Even though author work in the Tokyo/Yokohama area the earthquake still registered an intensity of six on the so-called Shindo scale. Established by the Japan Meteorological Agency, the Shindo scale measures the intensity of shaking at ...
The evidence is mounting to support the fact that sustainable development also adds some green to building balance sheets. Green building is proving to have a positive impact on key metrics like increased tenant retention, faster absorption and higher rents, according to a recent webinar, "Current Trends in Green Real Estate." As shared within the webinar, green buildings are likely to generate stronger returns for investors than traditionally managed properties, with owners anticipating a 4%...
The IREM Foundation pays tribute to one of the Institute's long-serving, dedicated IREM Headquarters staff members, Charles Achilles. Achilles was honored with the J Wallace Paletou Award at the 2011 IREM Leadership and Legislative Summit in Washington, DC, this April. This prestigious award is presented to those who have made especially noteworthy and significant contributions to the field of real estate management. Achilles' contribution to the profession of real estate management has been ...
Irem International Members Share Their Crisis Communication Strategies
In Moscow, in this day and age, no one is immune from the impacts of criminal activity on the properties they manage. In the event that something extraordinary happens on a property, the property manager should be prepared to communicate with media and tenants with a well developed communication strategy. The most important element of reacting to a crime is to resist hiding from it and pretend as if nothing has happened. A true professional is always ready to accept a problem, work on solving...
Know Your Code of Professional Ethics
Most real estate managers realize the need to conduct themselves professionally at all times when dealing with colleagues. IREM has taken this common-sense approach a step further by making this a requirement, as detailed in Article 5 of the IREM Code of Professional Ethics, shared above. It is more important than ever to think carefully about your interactions with fellow real estate professionals, both within your company and elsewhere in the industry. As tough situations come up, don't hes...
Getting a call saying that police are raiding one of your residential rental units will make any property manager's or owner's heart sink. When Clifford A. Hockley, CPM, CCIM, president of Bluestone and Hockley Real Estate Services in Portland, OR, received such a call, he got more than he bargained for. Hockley called in an industrial hygienist who tested the unit and confirmed the property manager's hunch: meth residue and contamination was found in one bedroom and in the kitchen. In recent...
Office Recovery Fluctuates by Market
As foreclosures in both residential and commercial markets continue, real estate managers find more opportunities to turn troubled assets around via a workout. Specialized receivers, in particular, are in demand for their abilities to help borrowers and lenders keep suffering and loss to a minimum. According to Stephen J. Donell, CPM, CCIM, president of Fed Receiver in Los Angeles, it's mismanagement of the lender's and borrower's expectations. Reports vary on how many homes and commercial bu...