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(Chicago, IL, April 14, 2009) – For anyone who manages apartments – whether  new to the industry or a seasoned professional – the sixth edition of Practical Apartment Management, just published by the Institute of Real Estate Management (IREM®), is an authoritative, comprehensive, “how-to” guide providing practical information about the many day-to-day responsibilities involved in managing apartments.  Completely revised and expanded to reflect the dramatic changes that have occurred in almost every aspect of residential property management over the past five years, the publication is organized for use as an ongoing reference tool.  It covers the basics of ownership, management, and insurance; includes advanced solutions for marketing, leasing, and tracking residents of rental properties; and contains a wide array of new ideas and techniques to enhance on-the-job performance.  

READER TAKE-AWAYS
Some of the many updated topics about which readers will gain specifics include:

• How to keep residents and reduce turnover costs
• Extra features in new apartment layouts and amenity packages
• Innovative techniques for tracking residents and minimizing turnover
• Hiring and managing property staff
• Establishing policies to guide property operations
• Leasing policies, the rental application process, and the lease document
• Developing strategies for maximizing rent collections
• Property maintenance, upgrading, and renovations
• How to gain the most from Internet marketing
• Setting and adjusting rents
• Implementing budgeting and planning strategies
• Attracting prospects and curb appeal

ABOUT THE AUTHOR
Edward N. Kelley, CPM^® Emeritus, is a forerunner in the apartment management industry, and continues to pioneer new techniques and approaches to benefit property owners and managers. His distinguished career has included extensive management responsibilities for billions of dollars worth of investment real estate. Kelley’s writings and seminar presentations have drawn wide and enthusiastic audiences.  In addition to Practical Apartment Management, he has written other texts dealing with investment analysis and apartment marketing. He also is a prolific writer of articles for trade magazines on a wide array of subjects, including apartment marketing, upgrading and renovation, resident retention, rent setting, collections, and staff training and motivation.

PRICE AND ORDERING INFORMATION
Practical Apartment Management is $47.95 for IREM Members and $59.95 regular price (plus shipping and applicable state sales tax). To order, contact the IREM Customer Relations Department at 430 N. Michigan Ave., Chicago, IL 60611, or call toll-free at (800) 837-0706, ext. 4650. Credit card orders (VISA, MasterCard, American Express, and Discover) can be faxed toll-free to (800) 338-4736 or e-mailed to custserv@irem.org. Internet users can order the publication online at www.irembooks.org.

ABOUT THE INSTITUTE OF REAL ESTATE MANAGEMENT
The Institute of Real Estate Management (IREM^®) is celebrating its 75th anniversary in 2008.  Major sponsors of the year-long celebration areYardi Systems, a leading provider of high-performance software solutions for the real estate industry, and the REALTORS^® Commercial Alliance (RCA), the collective commercial constituency within the National Association of REALTORS^®.

For more than seven decades, IREM has been the source for education, resources, information, and membership for real estate management professionals. An affiliate of the National Association of Realtors^®, IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors. With 80 U.S. chapters, eight international chapters, and several other partnerships around the globe, IREM is an international organization that also serves as an advocate on issues affecting the real estate management industry.

Membership includes more than 18,000 individual members and 500 corporate members. IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager® (CPM®) designation, the Accredited Residential Manager® (ARM®) certification, the ACoMcertification, and the Accredited Management Organization® (AMO®) accreditation. These esteemed credentials certify competence and professionalism for those engaged in real estate management. In addition, IREM offers Associate, Student and Academic memberships.

Collectively, IREM CPM® Members in the United States manage over $1.5 trillion in real estate assets, including 8.4 million residential units and 8.4 billion net square feet of commercial space. An additional 977,400 residential units are managed by IREM ARM® Members. IREM Members are employed by some of the most prestigious real estate firms in the world and nearly 70% hold upper-level management positions. Due to their professionalism and vast experience, property owners and investors worldwide continually seek out the management services of IREM Members.

To learn more about the Institute of Real Estate Management and its chapter network, call (800) 837-0706, Ext. 4650 (outside the U.S. call (312) 329-6000) or visit www.irem.org.