Power Tools for Property Managers

Last week, Jacksonville, Florida condo community, Montreux at Deerwood Lake, voted to replace Sage Residential, a division of Tarragon Corporation. According to theStreet.com, "a resident and board member at thte community had threatened legal action against Tarragon over alleged self-dealing." Instead of facing a lawsuit, the corporation agreed to discontinue Sage's management contract at Montreux. In recent months, Tarragon's stock has been under pressure "from short-sellers who say the company is facing a liquidity crunch." In a recent SEC filing, the corporation disclosed that "it was not in compliance with a debt-service coverage ration covenant pertaining to its $125 million of outstanding unsecured bonds."

Posted on May 21 at 10:57 AM | Permanent Link | Add a Comment (0)

According to a recent article in the Journal of Property Management, "By 2026, world demand for water will surpass its supply by 56 percent, according to information from the United Nations." With the rising costs of sewer utilities and water, as well as the growing awareness of buildings' impacts on the environment, water-free urinals are an alternative plumbing solution. The tidy toilets, which were invented in 1989, "work without water, flush valves or other mechanical controls. Instead, most available units rely on disposable cartridges." These cartridges are filled with a liquid sealant that captures waste and eliminates odors.

Water-free urinals are now used at Disney World, the Florida Marlins' Pro Player Baseball Stadium, and the Miami Beach Convention Center. "The urinals save the center more than 3 million gallons of water each year, significantly reducing water and sewage costs." Another bonus of water-free urinals is the low costs for installation and maintenance because no water piping is connected to the urinals and "property managers don't have to wory about servicing flush controls or fixing leaks, floods, and water flow sensors.

Posted on May 17 at 01:07 PM | Permanent Link | Add a Comment (0)

According to a recent article in the Journal of Property Management, property managers carry 25 to 45 percent more managed square footage than they did just a decade ago. When the going gets hectic, Gen X and Y managers rely on email, cell phones, PDAs, voicemail, and text messaging to be successful in their careers. Many younger professionals seek out employers who provide a technology-based platform these days since speed and accuracy rules in a world where customer service of the 21st century is all about a "what-can-you-do-for-me-today" attitude. Technologies such as "extensive computer-based lease and accounting programs are a must."

Posted on May 9 at 01:47 PM | Permanent Link | Add a Comment (0)