Welcome back to another issue of JPM! We’re already at the halfway point of 2022, a perfect time to pause and reflect on how well we’re progressing toward meeting our goals this year. For many of us, those goals are financial, as we seek to hit our marks and make progress toward our owners’ investment objectives. At the end of the day, we’re accountable for those numbers, and our companies and teams are evaluated on financial management, the theme of this issue.
Part of good financial management is stakeholder communication. Whether it’s monthly, quarterly, or annually, there’s no underestimating the importance of closely tracking and reporting on how our properties are performing. In our first feature, brush up on some best practices for reporting and how your team can improve communication strategies to drive owner satisfaction.
We all know that investing in real estate offers several distinct advantages for owners. But the substantial capital requirements of owning real estate can often pose an obstacle to many would-be investors. A solid understanding of the various real estate financing methods can go a long way toward ensuring these investments prove successful. You can read an overview of the different ways to finance real estate investments, including some newer options you may not even be aware of.
As IREM’s mission to advance the real estate management profession develops, we continue to share best practices with practitioners around the world. Global real estate markets are maturing and the demand for professional management is growing. One example of this in action is Victoria Sampah’s work in Ghana to strengthen the country’s real estate market. Read about how her efforts to solidify Ghana’s legal framework and bolster professionalism among property managers are already yielding positive change.
Elaina Tattersdale’s dream of creating a better world by improving sustainability in the built environment lives on through the IREM Foundation fund created to honor her life. Now in its second year, Elaina’s Sustainability Fund carries forward her passion for making a difference, and the IREM Foundation is truly honored to steward her legacy. Learn more about the Fund’s 2022 grant recipients and how you can lend your support and help keep Elaina’s dream alive.
When I began my career in property management, leasing up a property demanded a hands-on approach. Forty years ago, we placed ads in the classified section of the newspaper and used a “showings binder” with paper “property data” sheets for each available unit. We also gave paper application forms (even in duplicate) to the prospect when we met (in person) at the agreed-upon time and place. That—along with all the charm we could muster—was how we rented units!
Today, many of our teams have adopted or are investigating new virtual leasing platforms to help capture more leads, improve efficiency, and ultimately close more leases. Learn how virtual leasing technology is helping turn the prospective renters of today into the satisfied tenants of tomorrow.
And finally, I’d like to take this opportunity to welcome to IREM our new CEO and executive vice president, Linda Caradine-Poinsett, Ph.D.! We’re thrilled to have her leading the organization and are excited to work together toward furthering IREM’s mission. Read in her own words what drew her to IREM, the career highlights that set her on the path to becoming a servant leader, and what she sees ahead for the Institute.
Linda and I look forward to seeing you all in Dallas at the 2022 IREM Global Summit, Oct. 17–20. Together, we’ll continue to elevate our profession, celebrate our members, and explore some super cool new ideas with real estate management professionals from around the globe. Registration is open now. See you there!