Journal of Property Management - November/December 2009

EXECUTIVE VICE PRESIDENT AND CEO Russell C. Salzman, CAE, IOM | rsalzman@irem.org EDITORIAL DIRECTOR Tulie O’Connor | toconnor@irem.org ASSOCIATE EDITOR Markisan Naso | mnaso@irem.org CIRCULATION Diane Cole | dcole@irem.org JPM VOLUME 74, NUMBER 6 NOV.DEC 2009

EDITORIAL ADVISORY BOARD Sue Lewis, CPM®, Chair Deb Kast, ARM®, CPM® Candidate, Vice Chair Jennifer Baiamonte, CPM® Natalie Brecher, CPM® Norma Brownfield, CPM® Jordan Debes, CPM® Leo Fischer, CPM® David Fortune, CPM® Laurie Gral, CPM® Bob Hendricks, CPM® Kristin Hiett, CAE Babita Khurana, CPM® Greg Martin, CPM® Kim Mitchell, CPM®, PhD Richard Muhlebach, CPM® Patricia Nooney, CPM® Claribel Shavers, ARM® Brad Toothaker, CPM® Paul White, CPM® Kathy Whitman, CPM®, ARM® Tiger Yamamoto, CPM®

ART DIRECTION, GRAPHIC DESIGN Whitney R. Larson, Injagar, Inc.

ADVERTISING SALES | Adinfo.jpm@foxrep.com

JPM, Journal of Property Management (JPM® ISSN 0022-3905) is published bi-monthly by the Institute of Real Estate Management, 430 N. Michigan Ave., Chicago, IL 60611. Internet: www.irem. org. This publication is provided as a medium for the expression of individual opinion concerning management practices and procedures. The articles and advertisements printed herein do not necessarily represent the endorsement of the Institute of Real Estate Management or of the majority of its members excepting such statements that are so designated. The editors exercise only a general supervision of the material and assume no responsibility for claims made in advertisements or for opinions and statements expressed in articles. IREM®, CPM®, AMO®, ARM®, Certified ProPerty Manager®, aCCredited ManageMent organization®, aCCredited residential Manager® and JPM® are federally registered marks of the Institute of Real Estate Management.

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Copyright © 2009 by the Institute of Real Estate Management. All rights reserved. Periodical postage paid at Chicago, Illinois and at additional mailing offices. Subscription rates: $56.95 for one year; single copy $7.50. Remittances, undeliverable copies and subscription orders should be sent to the JPM offices. Postmaster: send address changes to JPM, Journal of Property Management, P. O. Box 109025, Chicago, IL 60610-9025. Printed in U.S.A.

Institute of Real Estate Management Diversity Statement | IREM encourages diversity. We welcome individuals of all races, genders, creeds, ages, sexual orientations, national origins, and individuals with disabilities. Our organization strives to provide an equal opportunity environment among its members, vendors, and staff. Adopted October 2008

Institute of Real Estate Management Sustainability Statement |
The Institute of Real Estate Management (IREM) is dedicated
to supporting real estate management strategies that advance
an environmentally sustainable and economically prosperous
future.