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Seven smart ways property professionals can survive the credit crisis

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BOMA International has launched Rx - Resource Exchange, a comprehensive Web-based menu of resources to help commercial real estate professionals cope with the economic downturn. As the market tightens and the credit crunch starts to flow into the commercial market, efficient and effective building operations are increasingly important. BOMA International has combed through extensive resources to create a one-stop shop with all the tools property professionals need to both enhance building operations and gain professional development insight.

Straight from the RX - Resource Exchange, get a jump on the competition with these seven smart strategies to help you not only survive but thrive in a down economy:

1. Back to basics: A tight market means getting back to basics -- brush up on your property management skills by taking BOMA's Foundations of Real Estate Management course.

2. Put it in writing: Are your tenants helping you cut costs through energy efficiency practices? Green your leases with BOMA's Guide to Writing a Commercial Real Estate Lease, Including Green Lease Language.

3. Network, network, network: Get a leg up by networking with industry pros at the BOMA International Conference in Philadelphia, June 28-30.

4. Control costs: Did you know that energy is the largest controllable operating cost? Take BOMA's new Sustainable Operations Series (SOS) webinars to improve your building's operational efficiency.

5. Measure your success: How does your building's income and expenses measure up in your region or market? Find out by using the industry's premier benchmarking tool, BOMA's Experience Exchange Report.

6. Take the challenge: Cut energy costs by signing on to BOMA's 7-Point Challenge, a commitment to reduce your building's energy consumption by 30 percent by 2012.

7. Be informed: Check out the SelectLeaders/Cornell Job Barometer to stay up to date on the latest career trends in real estate.

"We launched Rx - Resource Exchange to provide building owners and managers with a single source to obtain the critical resources they need to be successful in an economic downturn," said BOMA International Chair and Chief Elected Officer Richard D. Purtell, a portfolio manager with Grubb & Ellis Management Services Inc. "Now more than ever, it is vital that property professionals sharpen their skills and manage their buildings efficiently, as only the firms that cut costs without cutting services will make it out of the financial crisis on top." Visit the Rx - Resource Exchange at www.boma.org.

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