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Management And Training

Economy shifts property manager role to tenant retention, cost-cutting

March 15, 2010
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PHILADELPHIA — Due to a decline in commercial and residential rental tenants as result of the poor economy, property managers are using a variety of tactics to retain current tenants while reducing operation costs, according to the Philadelphia Inquirer.
Richard McClure, managing director of Kennedy Wilson Properties Ltd., said: "It''s all about [tenant] retention, retention, retention."

According to the story, one property manager, Michael Mortka, increased his interaction with tenants and efforts to provide a clean, attractive lobby for renters.

Mortka, a property manager at real estate company Grubb & Ellis Co., said in reference to an offending coffee stain on the sidewalk: "The tenants come in, and that''s what they see. We want them to come in and think it''s Disney World."

Another property manager, Jack Harrigan, uses technology to keep track of 35-story Two Logan Square office building, including constant check-ins to an automated monitoring system using a BlackBerry smartphone, the story stated.

Harrigan said: "When you''re at home over the weekend and it''s snowing, you''re on the computer looking at the cameras to see if the sidewalks are clear."

McClure is also planning to save up to $7,000 annually by implementing a new, energy-efficient lighting program, the story added.

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