A letter from IREM President Dawn Carpenter, CPM®

As we enter the cooler fall months, nature begins to shed the old in preparation for upcoming revitalization. Property managers must also revitalize their toolbox as new trends emerge while remaining aware of the most current needs in the industry.

Affordable housing remains an increasingly important topic. Sixty percent of all federally subsidized housing is owned or managed by an IREM CPM^®. The Low-Income Housing Tax Credit (LIHTC) program finances around 90% of all affordable housing developments nationwide. In our feature “Behind the credit,” Daniel Last, CPM^®, discusses the history and significance of this program.

Artificial intelligence (AI) has also become an increasingly important tool for property managers. AI offers many operational efficiencies, but it is imperative to understand the new legal, ethical, and operational risks it presents. In the feature “Safety in the AI era,” JPM spoke with several AI experts about how to balance these risks and efficiencies. 

The life sciences market, which includes pharmaceuticals, biotechnology, and diagnostics, continues to grow rapidly. This expanding sector presents a unique mix of tenants and property needs. In this issue’s Property Spotlight column, learn how to tackle these challenges and opportunities.

While paying attention to what is new, property managers still have to focus on the basics. In the feature “Raising standards,” Jeffrey S. Lapin, CPM^®, ARM^®, DREI^®, reviews the standard of care for property managers to maintain and ensure their commercial or residential rental properties are safe for tenants and visitors.

In September, IREM’s government affairs team will travel to Washington, D.C., for the annual congressional briefing to ensure property managers’ interests are protected. The team will honor Property Management Day on September 23 and aims to convey to legislators that property managers are essential to national priorities, such as affordable housing, workforce development, and urban revitalization. Discover more about this plan in the Government Affairs column.

This June, IREM’s Leadership Team traveled to Fukuoka, Japan, for IREM Japan’s annual meeting. We were thrilled to recognize the achievements of more than 80 enthusiastic and passionate new CPMs. Arihiro “Ari” Shintani, CPM^®, CCIM, incoming IREM Japan vice president, spoke with JPM about his strong vision for IREM Japan, including improving member networking and support systems. His goals coincide with IREM’s broader global strategy emphasizing education, collaboration, and local empowerment. Learn more about the impact of this event and the bright future of IREM Japan in this issue’s Global Practices column.

Also, this summer, I had the opportunity to travel to Johannesburg and Cape Town, South Africa, to advance initiatives there. Most noteworthy, IREM signed a memorandum of understanding (MOU) with the Department of Public Works and Infrastructure (DPWI) to advance and reskill property managers and those aspiring to the industry, starting with professionals currently working for the department. A landmark agreement with the Property Practitioners Regulatory Authority (PPRA) of South Africa launched the ARM^® certification into the South African market, paving the way for significant growth for IREM in the region.  

In our IREM Foundation column, Rita Khan, PhD, CPM^®, ARM^®, ACoM^®, speaks about the findings of her research project on reducing property manager turnover. The study was funded by the J.T. Aveni Center for Research, a program of the IREM Foundation.