Global Summit 2024
IREM members learn, explore, and celebrate in Indy
IREM’s annual Global Summit has been a highlight of the property management community for years, and the 2024 version at the JW Marriott in Indianapolis in October was no exception. With the theme of “the power of purpose,” the Global Summit included four days of educational meetings, local property visits, evening social events, and the important Governing Council meeting.
This was IREM’s “final” Global Summit. In April 2025, IREM will present dynamic education sessions in Boston at a new, two-day conference called PropertyCon. Governing Council business and leadership training will be combined at the new IREM Leadership Forum in Chicago in November.
The “last lap” of the IREM Global Summit featured nearly 20 education sessions, as well as IREM committee meetings, regional meetings, and more than 20 exhibitors. Here are some of the highlights.
Opening premier party
The premier party is a highlight of every IREM Global Summit; this year’s party was held at the Eiteljorg Museum of American Indians and Western Art. Guests were treated to a private evening at the museum along with food, drinks, music, and the exceptional experience of wandering the museum’s extensive collections and exhibits.
Governing Council
IREM Global Summits are where directors, Governing Council members, and leadership come together to do the work that keeps IREM running. This year, in addition to the necessary tasks that are always executed at Governing Council, a new IREM chapter in the UAE was announced. Muhammad JawadUrRehman, CPM®, MRICS, the first IREM member in the Middle East to earn CPM designation, was on hand to celebrate this momentous occasion.
The Governing Councillors approved all items put forth for consideration, including the 2025 operating plan and budget and several motions from standing committees and advisory councils.
Executive management forum
Joe Greenblatt, CPM®, 2014 IREM President, led the executive management forum on developing a long-term end game for a property management career or business, focusing on business succession strategies. Greenblatt highlighted the need for individuals to define their personal and professional goals, whether they aim to become company owners or aspire to higher roles within an organization. Various exit strategies for business owners were discussed, including family succession, growth within the company, bringing in investors, and using SBA loans.
“Growing a property management firm isn’t complicated,” Greenblatt said. “It’s just expensive.” He added that succession plans take effort, and it’s an easy thing not to do. One participant noted that organization leaders need to be prepared for the unexpected but also take time to reflect on how much has changed for the better in a short time, even without a plan.
Laura Polk, CPM®, chief operating officer of Heritage Properties, AMO®, in Madison, Mississippi, noted that as part of a recent rebranding of Heritage, leaders learned that what employees want that may affect the culture of a company positively may not cost the company anything. She cited one perk in particular—the return of “blue jean Friday.” Heritage maintains a peer-to-peer website that employees are encouraged to use. Greenblatt agreed with the value of this type of virtual network, where team members can create content or share concerns.
In the end, Greenblatt noted that organizations can get great results from their teams if they have suitable systems to attract talent, train employees, and establish a succession plan.
Keynote
Keynote speaker Mina Starsiak Hawk
Keynote speaker Mina Starsiak Hawk, real estate agent and star of HGTV’s hit series “Good Bones,” gave a frank and funny summary of the evolution of her career as a home renovation star. She recounted what it was like rehabbing her first property while still in school and learning the basics of placing flooring and countertops during the week with her mom while waitressing on the weekend to make money for materials. Then, HGTV “discovered” her because of a Facebook video she posted.
“Good Bones” ran for eight seasons, with Hawk and crew renovating dozens of homes in Indianapolis before Hawk decided to pursue new opportunities in her life. 2024 IREM President Libby Ekre, CPM®, told Hawk on stage that she had shown that “each of us has the grit we need inside that we need to depend on some days.”
State of the Industry Breakfast
The last morning of the conference featured a well-attended State of the Industry Breakfast, with three speaker panels moderated by Kim Collins, CPM®, 2024 Secretary/Treasurer Nominee. Collins asked panelists Michael Tuer, vice president and general manager of Yardi Systems, and James Robert Scott, MIT lecturer and IREM’s “innovator in residence,” how property managers can create efficiency through automation. Scott highlighted the importance of evaluating the return on investment (ROI) of any tech solution a company considers.
Kim Collins, CPM®, 2024 Secretary/Treasurer Nominee; Ted Thurn, IREM senior director of government affairs; Ashley Rogow, technical designer at Gensler; and Brad Ashley, CPM®, talk about adaptive reuse at the State of the Industry Breakfast.
Greg Cichy, CPM®, managing director at Colliers International, AMO®; Erin Hopkins, PhD, associate professor of property management at Virginia Tech; and Dan Gaddis, business development manager at Mantis Innovation, talked with Collins about how sustainability creates great potential for higher NOI, particularly through cost reduction. Hopkins shared findings of recent academic research demonstrating the impact of sustainability on rents and other revenue. Gaddis and Cichy shared best practices for property management firms to take a strategic approach to sustainability.
The final panel focused on the adaptive reuse of properties. Brad Ashley, CPM®, managing director at Newmark Zimmer, AMO®, and Ashley Rogow, technical designer at Gensler, shared examples of adaptive reuse projects they have been involved with, like the Mark Twain Building in Kansas City, Missouri (a historic office building converted to apartments) and The Old Post Office in Chicago (a post office converted to office space).
Ted Thurn, IREM’s senior director of government affairs, shared tips for how IREM members can talk about adaptive reuse with legislators:
- Explain the benefits. Describe how adaptive reuse can help the economy and community by increasing housing supply, reducing environmental impact, and restoring economic vitality.
- Recommend policy changes. Encourage legislators to remove regulatory barriers to reuse and modernize zoning and building regulations.
- Highlight incentives. Point out how governments can offer incentives for adaptive reuse, such as tax breaks and grants.
Thurn further explained how IREM supports the Revitalizing Downtowns and Main Streets Act, which has been introduced in Congress. The act would provide a federal tax credit to facilitate the conversion of older, underutilized offices and other commercial buildings into residential housing.
Affordable housing panel
Ryan Huffman, CPM®, led a panel on affordable housing. Panelists, which included Eileen Wirth, CPM®; Anthony Tynan, CPM®; and Toni Harris, CPM®, ARM®, agreed on the complexity of compliance with federal, state, and local affordable housing programs.
Over the past few years, much of the new affordable housing stock has been made available cost effectively through the federal Low Income Housing Tax Credit (LIHTC) program.Huffman noted that, in recent years, the LIHTC program has returned $3 to federal government coffers for every $1 tax credit they provide.
Harris talked about the “capital stack”—the combination of tax credit programs, loans, and grants—that developers depend on to make an affordable housing project possible. After a project is completed, Harris noted, it’s up to the property manager to manage ongoing compliance with reporting and inspection requirements for each funding source. Harris said, “It’s very important that once we have mastered all of these things, we’re paying it forward and teaching our new property managers all of the details of the funding sources.”
Women in Leadership
At the Women in Leadership luncheon, attendees enjoyed a refreshing and validating conversation about women’s experiences in property management and residential and commercial real estate. Panelists Lindsay Bonilla, CPM®, CCRM®; RaN’ae Bacon, CPM®, ARM®; Heather Phillips, CPM®, ARM®; and Nancy San Pedro, CPM®, spoke about facing challenges early in their careers, including gender bias and being the only woman in the room. They encouraged attendees to view those challenges as opportunities to prove their value, stressing the importance of resilience, self-advocacy, and finding mentors who uplift and guide women in male-dominated environments.
They also discussed the financial and operational benefits of having diverse leadership, especially how gender-diverse teams lead to better decision-making, more innovation, and stronger financial performance.
DISI luncheon
At the Diversity & Inclusion Succession Initiative (DISI) luncheon, panelists Kaci Hancock CPM®, ACoM®; Lizette Negrin, CPM®; Daniel Rogers, CPM®, ARM®; and Samantha Thornton, CPM®, ARM®, ACoM®, shared personal stories about how the DISI program accelerated their careers and discussed strategies for supporting each other and people from marginalized groups to reach leadership roles.
At the luncheon, IREM announced expanded resources for marginalized communities within the property management profession, including a new Student Outreach Program, DEI Ambassadors, and an upcoming Black History Month 2025 Virtual Event.
EV charger readiness
Another education panel noted that as the adoption of electric vehicles (EVs) continues to grow, property managers must understand the importance of EV charger readiness. Moderator Fred Prassas, CPM®, and panelists David Holland, CPM®, and Angela Aeschliman, CPM®, CCIM, talked about essential strategies for sustainable and future-proof EV readiness.
Demand for EV charging installations is driven by a combination of tenant/resident demand, government regulations and incentives, and the property owner’s or manager’s desire for ancillary revenue. Property managers must do due diligence on EV charging service providers, researching company stability, national or regional reach, details on specific services provided, and their business model.
Property managers must also be prepared to deal with non-EV cars that park in EV charging spaces and those that take up charging spaces for too long.
Dawn’s family was on hand to honor her many achievements in real estate and property management and acknowledge Dawn’s devotion to family as a sister, daughter, and aunt to many nieces and nephews. Her nephew, John Cernak, celebrated Dawn’s upcoming presidency by highlighting her career, commitment to real estate management, and dedication to family and IREM.
The IREM Foundation held an Impact Icon contest that started before the Gala began, raising more than $160,000 for IREM Foundation scholarships. Since IREM members are naturally generous, several chapters were in a friendly competition to contribute the most.
Jim Helsel, CPM®, earned the title “2024 Impact Icon” for raising the most funds. Thanks to our competitors, and the support of our incredible IREM community, more than 150 additional scholarships are now available for future industry leaders.
SHA Island
Muhammad JawadUrRehman, CPM®, president of IREM’s first chapter in the Middle East, based in Dubai, presented on an ongoing project in the UAE called SHA Island, based on the principles of the SHA Wellness Clinic. This human-made island will feature an exclusive residential complex featuring SHA’s wellness services.
The site, located halfway between Abu Dhabi and Dubai, will include various wellness-themed pavilions, including mind and body, healthy nutrition, and movement pavilions. Several services will be available to residents in their homes, including medical and nutrition consultations, room service, and various beauty and relaxation therapies. This innovative project is still under construction but has already garnered much attention and sales.
ESG success
At a session focused on ESG challenges in property management, Randy Moss, a manager with Yardi, discussed the company’s extensive experience in sustainability data management. Yardi employs more than 900 energy division staff and has benchmarked more than 11,000 properties globally. Moss highlighted the challenges of collecting and organizing data, especially from tenant-owned utility accounts. Tenant-level sub-metering in mixed-use properties is necessary, he said, to ensure gathering accurate energy data for every tenant space. Collecting real-time data is needed to manage demand better and avoid peak use charges.
Moss emphasized the goal of having 100% data coverage for buildings and outlined strategies for tiering data collection based on data quality and cost. He noted the importance of aligning energy-efficiency projects with investor goals to ensure successful reporting and compliance.
Japan Forum
At each Global Summit, countries outside the U.S. with three or more IREM chapters, like Canada and Japan, have a forum focusing on IREM business. This year, IREM HQ’s Todd Feist gave a presentation on IREM’s Certified Sustainable Property (CSP) program. As part of IREM’s recent initiative to be more global, IREM staff sought input from Japanese members on the program. IREM sent a survey before the forum and asked members in attendance about meaningful metrics and if it seemed like a valuable certification for their properties. Members from Japan expressed interest in IREM’s green building certification and discussed meaningful metrics and challenges to global recognition.
Disaster preparedness
Jesse Holland, CPM®, talked about how flooding related to Hurricane Irene in 2011 prepared his firm, Sunrise Management and Consulting, AMO®, in Latham, New York, for the COVID-19 pandemic. The disruption in operations caused by the floods led Sunrise to increase the use of laptop computers, electronic records, a mobile payroll system, and a new tenant communications system; these became even more valuable when the pandemic struck.
Holland noted the importance of having a playbook of what to do when disaster strikes, as well as contingency plans in case key staff are impacted by an unexpected health emergency.
Driving ancillary revenue
At her session, Jae Roe, CPM®, ACoM®, noted that when implementing new ancillary revenue sources, it’s essential to understand your property type and assess the potential impact to the property, company, and tenants. Participants discussed what ancillary income streams they are using or considering, which have been successful, and challenges encountered.
Mental health and empathy
Two sessions focused on mental health, empathy, and sympathy in the workplace. Consultant Maria Pietroforte, CPM®, told attendees at her session, “It’s OK to not be OK at work.” Up to 80% of people will experience a diagnosable mental health condition during their lifetime, Pietroforte said, whether they know it or not; it’s not a moral failing. The session covered how employers can promote mental health awareness in the workplace.
Samantha Thornton, CPM®, ARM®, ACoM®, highlighted the significance of leaders providing empathetic feedback to staff, tailored to individual needs and avoiding pity or victim mentality. She emphasized that leaders must shift from being seen as problem-solvers to a supportive presence. Thornton stressed the necessity of self-care and self-awareness for leaders, fostering resilience, and being present during interactions. She offered practical tips like making time for each team member, understanding what motivates them beyond generic incentives, and maintaining boundaries.
Improving presentation skills
In a packed room with more than 100 attendees, Shannon Alter, CPM®, noted that confidence is key when presenting. “Take a breath, speak, and be ready to pivot,” she said. “Perfection is not the goal. It’s OK if your presentation is not 100% perfect. Remember that you are the expert in the room. People want to hear what you have to say.”
Thriving in the AI world
Tech expert Burton Kelso spoke at a standing-room-only session on engaging and thriving with various AI tools. Specifically, he talked about the differences and challenges in using the many generative pre-trained transformer (GPT), also known as generative AI, tools in the market today, including ChatGPT, Copilot, Gemini, and Meta AI. He demonstrated these tools by using one to create a headshot of himself in different roles (property manager, Superman, etc.)
Property tours
Attendees had several opportunities to visit local properties, including the Bottleworks District, the urban community CityWay, and OneAmerica Tower.
Dr. Drew Pinsky
Sessions will cover finance, maintenance and operations, marketing and leasing, professional development, and leadership training, with content on DEI, sustainability, and technology woven throughout programming. Specific topics will include: Thornton stressed the necessity of self-care and self-awareness for leaders, fostering resilience, and being present during interactions.
- CAM reconciliation
- Filling vacant space fast
- Harnessing the power of AI and Excel
- The future of talent: hiring and developing the best people
- Risk management: What to do when bad things happen
- Emotional support animals
For a preview of what to expect at PropertyCon, watch this video featuring Dr. Drew Pinsky, the event’s keynote speaker. Check IREM’s website for full PropertyCon and registration information.
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