Evening star., 1932-04-30
APARTMENT COSTS
WILL Be SURVEYED
Association of Real Estate
Boards Seeks Detailed
Information.

Detailed information on the exact
/ cost Of operating apartment buildings
/ will be gathered in new type of sur
! vey which has been initiated by the
! National Association Of Real Estate
Boards. The survey will be in the ma
| ture of a periodic experience exchange
to be made by members of the asSo-
cations property management divi-
sion, an outline for which is going out
TO members of the division this week.
Findings will cover actual costs as
shown by their books for definite prop
critics under their management. Some
So detailed items will be examined. in
cluding pay roll, service in respect to
lighting, refrigeration, water treatment
and the like. elevator costs, heating
costs, advertising costs, maintenance
and repairs. the income and outgo for
extra services. such as garage service
and maid service, and the amount of
fixed expense, as for insurance and
taxes.
Rents to Be Reported.
Rents also will be reported, reports
to be made on a square foot basis.
Questions asked we're developed through
joint committee of the National AS
sociation of Real Estate Boards and
the National Association of Building
Owners and Managers.
First report on the findings of the
new apartment house experience ex-
change will be made at the coming an
nual convention of the association, to
be held in Cincinnati June % and 80
and July l. Henry N. Lorish, Chicago,
former chairman of the Chicago Real
Estate Boards property management di-
vision, will make the analysis and
show how the collection of facts to be
gathered periodically in regard to op-
Grating costs can be used as yard
stick for measuring the operating eff
cheney for specific individual buildings.
Every industrial city is an interest
ing laboratory for realtor specialists in
plant location, and Cincinnati. host city
to the coming annual convention of the
National Association of Real Estate
Boards, officially will throw itself open
for that kind of study during the con-
vention week. Robert w. Nelson, ex-
ecutive vice president of the Cincinnati
Chamber of Commerce. will address
the convention on industrial property
and industrial development in Cincin-
natl.
John Starrett to Speak.
Passing from industrial tracts to
downtown business and ONCE proper
ties, the Carew Tower development,
completed January. 1881, first struc-
ture in the country to be erected as a
multiple-use development of an entire
block under a single roof, will be
given a special place on the conven-
ton program. The structure, an ex-
ample of the present trend toward con-
solidation in large-Scale units Gas in
Radio City, the Terminal development,
Cleveland; the Merchandise Mart,
Chicago includes a 48-story Office
building. two department stores, a
medical unit, the Netherland-PlaZa Ho-
tel, to be convention headquarters, a
huge convention hall, a 24-story auto
matte garage, an arcade with shops and
several restaurants
John E Starrett, Cincinnati, resi-
dent manager of the Starrett Ohio Cor
poration, subsidiary of the Starrett
Corporation of New York, will address
the property management division of
the association on the development.
Chinese movie theaters in Hong Kong
have admissions as low as | Il cents