A letter from IREM President Libby Ekre, CPM®

In February, I was privileged to be part of a large contingent from IREM HQ and chapters who participated in the IREM and IREM Foundation’s Advocacy Impact Day + ESG Summit. We had meaningful discussions with legislators, championing change on vital issues like sustainability and shaping a healthy built environment. The momentum and inspiration of the two-day meeting carried us back to our day-to-day work in our communities, ready to face the many challenges of property management, like the one we focus on in this issue: operational efficiencies.

In our first feature, Mike McConnell, CPM^®, explores the ongoing turmoil in the property insurance market and notes that while property managers can’t control the weather, they can help control insurance-related costs with a well-executed risk management plan.

Utility expenses are another area where property managers, using the right management tools and conservation strategies, can transform utilities from just another cost center to a sustainable area of value creation. Our feature on utility expenses highlights specific strategies property managers can take advantage of—from installing new lightbulbs to tracking and using utility expense data to tapping into the expertise of professional audit services.

Condominium managers are also grappling with utility expenses, especially energy costs. The Property Spotlight column highlights these expenses, along with high interest rates, supply chain issues, and new health and safety requirements imposed by local jurisdictions. Suzanne LeValley, CPM^®, notes that an essential role of any condo property manager is to restore the concept of community in the building. “If you can get people pulling in the same direction with strong communication and advice,” she says, “you can get them to make the best decisions for the building.”

Two articles this month showcase how IREM is helping students and property managers who are just starting their careers tap into the wealth of services IREM offers. In one, IREM members talk about how the Diversity & Inclusion Succession Initiative (DISI) has helped them on their path to gaining CPM^® certification. In the IREM Foundation column, we report how IREM Georgia has more than doubled its student membership. Students at different Georgia colleges and universities share their personal experiences at the 2023 Global Summit in Toronto—experiences they would have missed without the active support of IREM Georgia.

IREM wants to help property managers to be successful wherever they may live. In the Global Practices column, we see how the Real Estate Institute of East Africa (REIEA) is focusing on education and the training of the next generation of property managers in Uganda and neighboring countries. REIEA’s chairperson, Vincent Agaba, notes that graduates of the association emerge not just as real estate agents but also as ambassadors of a new era in property management.