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Find quick, easy to access information on real estate management industry fundamentals and the latest news and trends on the IREM blog! Stay tuned for regular updates to keep up with what’s happening in the real estate industry and get practical tips for your career.

Real Estate Property Management Program Building on Strong Start

Schoolcraft College News featuring Jim Evans, IREM National Past President, IREM Michigan Past Chapter President
April 26, 2021

During the Winter 2021 semester, Schoolcraft College became the first area community college to offer a program in Real Estate Property Management, which involves the management of revenue-producing residential or commercial properties. This can include single-family homes, apartment complexes, office buildings, retail centers, medical facilities and industrial warehouses.

Students also learn about the management of safety and environmental issues related to residential and commercial properties and how to recognize and address maintenance problems. Considered a service industry, property managers work closely with both the property owners and the residents of the property.

A total of 12 students have started their journey, which can lead to a Skills Certificate, Certificate or Associate of Applied Science Degree.

One of the key core classes is RE 101, taught remotely by Dr. Redona Hall, a real estate broker and property manager. She earned her real estate license and property management certificate in 2009 and has experience managing residential and commercial properties. Dr. Hall’s credentials include GRI (Graduate REALTOR® Institute), CDPE (Certified Distressed Property Expert), SFR (Short Sale and Foreclosure Resource) and PTC (Property Tax Consultant).

In RE 101, students learn the benefits of hiring a property manager, landlord and tenant rights and obligations, tenant relations, marketing, federal and state laws, understanding leases and lease applications, managing the office and reports, and careers in property management.

The students are from a variety of backgrounds.

“Two of my students are under age 19 – the 18-year-old wants to learn about property management because her dad owns residential properties,” she said. “One is a retired dentist who owns a store. There is a mother and son who are considering property management for extra income.

“One student and her husband bought properties in Livonia, fixed them up, and sold them. Now they’re trying to decide if they want to buy again and manage the properties themselves or hire a property manager. Another student works in facilities management and is considering purchasing properties one day. Another student currently works for a residential property management company. The other student works for an architect firm.”

The RE 101 course provides a solid foundation from which to build.

“Although there are many facets to real estate property management, this introductory course provides an overview of property management and the role of the property manager,” Dr. Hall said. “In addition, to the chapter readings and homework discussion questions, we discuss textbook case studies and share real-world experiences.”

Enrollment also has brought an important networking opportunity. Susan Knowles, Executive Director of the Michigan Chapter of the Institute of Real Estate Management (IREM, of which Dr. Hall is a member), has graciously offered student memberships with the organization to all students.

Jim Evans, CPM(r), President/CEO, Bruce G. Pollock & Associates, The Condominium Group, Inc., Grand Blanc, Michigan, served as IREM president in 2012. He said it was a proud moment in a distinguished and ongoing career of more than 35 years and encourages students to take advantage of the IREM membership.

“IREM can really help bridge the ‘what you know’ to the ‘who you know,’” he said. “IREM puts you in front of the ‘who.’ You get all the resources we get as professionals as well as the ability to go to industry events and start interacting with people who one day will be your employers and colleagues.”

Evans added that the Real Estate Property Management program answers a true need in the industry.

“Property management has traditionally been something people fall into,” he said. “We’re trying to change that narrative because it really is a fantastic way to get a career started in real estate. When you’re in the property management industry, you truly learn the nuts and bolts from the ground up.”

And that’s exactly what Dr. Hall is teaching with this first group of students.

“Anyone with a goal to invest in residential or commercial properties should consider contracting with a property manager,” she said. “A property manager will be a vital part of their team as well as an important resource. The property manager plays a key role in keeping the property leased and enhancing the profitability of the owner.”

Learn more about Schoolcraft College’s Real Estate Property Management program.

Spring is in the air, lets monitor it!

Trevor Duke, Technology & Innovation Committee Chair
April 28, 2021

How to show tenants that things are better than they think.

Typically, we see some attrition during Spring and Summer at the buildings, as occupants use the great weather, and wealth of outdoor activities to justify maybe leaving a little earlier Friday, and maybe not coming in early Monday. This year, we are optimistic we will see MORE people in the buildings in late Spring than we did in January!

As vaccinations are progressing quickly, and the most vulnerable are now immune, people are more confident to get back to work. Though there are still a few roadblocks (and gubernatorial diktats), the tenants will need to be encouraged to poke back into buildings just like Punxatawny Phil may need to be coaxed out of his hole. Due to the media, and the fearful narrative, the onus is on the building to show that the building is safe.

Tenants have heard lots of negative press about viruses in the air, specifically indoor air, and have misconceptions about how commercial systems differentiate from residential systems. I believe that explaining these items will get tenants back in buildings quicker. Commercial buildings have superior filtration, are serviced at regular intervals, and are built to bring in lots, and lots of fresh air. There has been considerable research into commercial indoor air quality in the past, and pre-Covid, the ASHRAE standard. Finally, though managers know that our buildings have the cleanest air, and for that reason are arguably the best place to be (indoors) for minimizing risk from airborne viruses, we need to educate tenants. I will keep this post as non-technical as possible, if you have any follow up questions, or would like more supporting info for a topic, please reach out.

First of all, filtration. Before Covid, can you remember how often you changed out your filters at home? Maybe you have some yearly reminder or have a service plan with a vendor, but I have yet to find a residential home, even in that of the most diligent engineer that changes filters as frequently as recommended (60-90 days). Commercial filters are changed often, typically quarterly.

Residential systems, unless in high end homes with ERV/ Air Exchange systems do NOT typically have any exchange of air, they are simply heating or cooling the air in the home, and the fresh air seeps in through the building envelope, or the opening and closing of windows and doors. This is fundamentally different from any commercial setup! Office buildings are constantly bringing in fresh air. Researching this in the last few months, we have found that all units are bringing in thousands, some nearly tens of thousands of Cubic Feet of air per Minute (cfm), and that volumes air being changed over much more frequently than expected. Though hard to summarize here, ASHRAE guidelines have some formulas to determine recommended air changes (determining cfm/sqf, and cfm per person) and we have found that every building is exceeding the minimums by far. Management staff should not be scared of measuring these numbers, as most buildings, including older ones, are designed in ways that far exceed these metrics.

Beyond the basic guidelines of “if you bring in this much air, and filter it this way”, management can track further data points to telegraph to tenants how many facets of their air is within “healthy” ranges. Either using their buildings existing HVAC controllers, or buying (affordable) IAQ measuring devices , such as from Airthings, Wellstat, or Kaiterra, you can easily create a colorful, human readable dashboard to show tenants what the Co2 levels are, humidity (a big one for Covid), and other simplified representations of the building operations, can make this data approachable to tenants and guests.

Covid has occupants hyper vigilant of their surroundings, and the best way to put them at ease is to present the data they are looking before they ask for it. The simple act of collecting this data gives management the opportunity to review any systems that are not in spec. By exhibiting the data, trust will be gained that there is nothing to hide, and everything is on the up-and-up.

IREM Announces the 2019 REME Award Finalists

Posted by [email protected] on Sep. 13, 2019  /  IREM News  /  Subscribe 0

IREM Announces the 2019 REME Award Finalists September 10, 2019 | IREM IREM honors the companies and individuals making exceptional contributions to the real estate management industry with the Real Estate Management Excellence (REME) Awards. “I’m so pr

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