The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-08-25
EXPERTS MAKE
APARTMENTS
PAY
Scientific Care OF Properties
Found Profitable in
New York City.

Scientific care OF large apartment
properties has been the medium Of
increasing the stability of such
property in New York City and to
that is attributed the active market
: that has prevailed since the close
of the war.
On the score Of expert manage.
ment, minimizing the usual care OF
large units which require constant
attention by reason of their bulk
and diversified tenantry. Lawrence
B. Gilman, of Pease & Gilman. said
recently that it has served to bring
to the attention of owners the al.
vantage derived from handling OF
such properties by specialized
agents.
These factors" said Mr.. Eli
man, have been able to accomplish
q great deal toward the reduction
OF the overhead cost of apartments
as well as to increase the good will
between the tenants and landlords.
Some speculative buyers are still
OF the opinion that they can manage
as cheaply and economically, but
figures. carefully compiled within
the past six months, show that the
Spectator will do best by leaving
the property in the hands Of the
agents who have operated success
fully, for the reason that they have
the tenants confidence and there.
fore are better equipped to deal with
the tenants than the speculative
owner.
Figures show that where in the
last few years owners have man.
aged their own property they have
had much difficulty in making their
tenants realize the necessity for in
creasing the rent of their apart
naents. Managing firms have been
able to accomplish this very easily.
This result is for the reason that
tenants have so much confidence
IN the organization with whom
they have dealt and know that the
agent Is a fair mediator and will
present fair, unbiased and truth
ful outline of the situation.
cit is also true that the various
city departments and large public
utilities are interested in the prob
lens laid before them by large
managing concerns. and an agent
Is able to accomplish more with
greater facility in the way of help
full information to the owner re-
labor troubles. etc, which are 50
annoying to the average lay. owner
OF real estate.
Real estate management in New
York City is all tending toward
Standardization, and most of the
reputable firms are represented in
an organization which Is looking
always toward the goal of helpful
ness to the tenant and landlord,
and making for the situation of
better and more pleasant living
accommodations and more smoothly
and profitably run holdings for the
owner.
Specializing is the watchword,
and with this always in view, real
estate management in New York
City picks out its men sycarefully,
with view to those having the
right idea OF service, and as per-
sonality H. one OF the greatest fac
tors. owners are commencing to
realize that turning over their prop
erty, no matter how much or how
small, to an agent is the best and
most profitable plan in the end.
The most important point is the
fact that a tenant will take a re-
fueal of some request for redecora-
ton. etc. from an agent without
any feeling. where a similar re.
fusa1 frc'n an owner would be re-
scented. In short. agents do save
owners great deal more than their
commissions in many ways