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— Property Management Quarterly — April 2016
I
n February, the Colorado Real
Estate Journal hosted the 13th
annual Property Management
Conference. The event show-
cased strong content, and I
found every panel discussion full of
topics that were interesting and infor-
mative. A few of the
discussions spurred
articles in this issue,
including a column
by Lyla Gambow on
bout why
everyone thinks
offices need to be
“fun” and a ques-
tion-and-answer
column o
about dogs in the workplace – appar-
ently that’s a new tenant demand
some managers are dealing with – as
well as the cover story about why
spec space is king.
I’d like to share a few other com-
ments I heard at the conference that
piqued my interest. The first was a
statement that conference rooms and
conference centers as building ameni-
ties are a waste of space. The general
thought seemed to be that if an asset
had multiple conference rooms, some
should be replaced with different
collaborative, open areas in order to
maximize use.
The same panel discussed millenni-
als’ impact on the office environment.
Many “new” workplace demands –
nice gyms, big windows, cool break
areas – are liked by everyone; how-
ever, the millennial generation is the
only generation “smart enough” to ask
for them, one of the brokers joked.
Another broker agreed, and said that
in a tight job market with higher
turnover rates than previous genera-
tion, many millennials are demanding
these office environments. Buildings
need to keep up with these demands
in order to stay relevant.
From the investment panel, prop-
erty managers were warned that
investors are getting savvy to the
kick-the-can mentality of not dealing
with older or original major building
components. Addressing big-ticket
items can’t be avoided much longer,
they said.
When dealing with a property that’s
for sale, property managers need to
view the process as a collaborative
effort with the investment broker.
They warned that problems don’t kill
deals; surprises kill deals. Tom Bahn
outlines four priorities property man-
agers should consider when an asset
is put up for sale o
And finally, the qualifications for
a great property manager were dis-
cussed by building owners. A great
property manager is a people person,
a strong communicator, understands
each owner’s individual ownership
style, knows her leases, can do the
books, is willing to speak up and
educate her building’s owner when
needed, and knows her tenants.
Michelle Z. Askeland
303-623-1148, Ext. 104
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