Honoring Passion for Property Management

Award recognition programs serve a multitude of purposes. They create a platform for acknowledging the contributions of those who receive them. They model extraordinary behavior with the hope that they will inspire others to emulate the actions of the award recipients. And, in some cases, they serve to memorialize those after whom the awards are named, creating a legacy that lives into the future.

The recognitions presented by the IREM Foundation—and for which nominations are being accepted until June 1—fully satisfy all of these roles.

Wallace Paletou Award

The oldest and most prestigious of the IREM Foundation’s recognitions is the J. Wallace Paletou Award, named for IREM’s president in 1957. Presented for the first time in 1971, the Paletou Award is given to CPM Members who, like its namesake, unselfishly devote themselves to improving the stature of the real estate management industry and show the type of leadership that represents the epitome of professionalism.

Louise L. and Y.T. Lum Award

Somewhat similar to the Paletou Award—though not restricted to being given only to CPM designees—is the Louise L. and Y.T. Lum Award. This award is named in honor of Yin Tai (Y.T.) Lum and his wife Louise. Y.T. Lum became a CPM in 1952 when he traveled to the U.S. mainland and challenged the CPM examinations, having studied the course materials but never having been able to take an IREM course in Hawaii. Thirty years later, his son, Tan Tek Lum, CPM, became IREM’s president. Today, the Lum Award recognizes individuals who are actively engaged in real estate management and have made distinguished contributions to the profession through education, publication or the advancement of ethical and professional standards.

Lloyd D. Hanford Sr. Distinguished Instructor Award

Many of IREM’s early students knew what a pleasure and honor it was to have been in the classroom when Lloyd D. Hanford Sr., CPM, led the discussion. He was a pioneer in the field of property management in San Francisco and IREM’s president in 1958. To honor those CPM Members who, like him, devote themselves to the practice of teaching the next generation of property managers, the Hanford Award was created. Appropriately, the first time it was presented in 1983, it was given to his son, Lloyd D. Hanford Jr., CPM, who followed in his father’s footsteps as an IREM president and a revered IREM instructor. Today, the Hanford Award is presented to an IREM instructor who has exemplified extraordinary dedication to the educational process and the advancement of knowledge within the property management profession.