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IN THIS ISSUE

CAA News
  • Trade Show & Education Conference a success
  • 3 weeks until the Golf Outing
  • Illinois General Assembly; Mid-Session Update
  • Innovative new Community Investment Corporation program provides more affordable apartments
  • Welcome new members!


  • Members In The News
  • Stuart Handler, CAA board member, discusses Chicago rental market


  • Education In Focus
  • Know the Facts about Fair Housing — 2014 update
  • Last Chance to register for CAMT! Deadline Friday, April 25


  • Industry News
  • Aid for rental market
  • Inside the country's 1st multifamily affordable passive house apartments
  • Crafting cooler content: Best practices for the multifamily industry
  • Developers pitch 28-story apartment tower for West Loop in Chicago
  • LA landlords pushing out all the rent-controlled apartments
  • North Jersey lenders see risks in multifamily, warn of repeat of housing bust
  • Top 5 reasons why 'the customer is always right' is wrong






  • Trade Show & Education Conference a success
    CAA
    Thank you to everyone that participated and volunteered at the 2014 annual Trade Show & Education Conference on April 8 at Drury Lane Theatre & Conference Center. One hundred and forty one Associate member companies exhibited in 142 booths and more than 530 property management employees registered. Attendees who attended the education conference were able to take away ideas to implement immediately at their properties from speakers like nationally known Toni Blake. They also helped CAA raise $686 for the Northern Illinois Food Bank. Click here to view pictures from the event in CAA's photo gallery.

    Winners from show-sponsored contests and raffles were:
  • 50/50 Raffle-Donna Matkovic, For Rent Media Solutions
  • Scorecard Raffle-Nola Bounds, Golub & Company
  • Best Booth-For Rent Media Solutions

    Thank you to our 2014 TSEC sponsors.
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    3 weeks until the Golf Outing
    CAA
    Registration is open for CAA Outing Golfers. Click on the Golf Outing page of the CAA website for golfer and sponsor information as well as links for online/forms for registration. Select your foursome/sponsorship now while it's still available!
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    Illinois General Assembly; Mid-Session Update
    CAA
    The Illinois General Assembly is on a two-week break and will resume the session April 29. When they return, lawmakers will be debating legislation that has either been passed by the opposite chamber or has had a deadline extension. Many other bills have failed to pass their chambers and have been sent back to the House Rules or Senate Assignment Committees, where they are technically "dead" for the session, unless amended onto other viable legislation. The adjournment of the session is scheduled for May 31. CAA has had an active session and has weighed in on numerous bills that concern its members. What follows is a status report on this legislation.
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    Innovative new Community Investment Corporation program provides more affordable apartments
    Community Investment Corporation
    Chicago Mayor Rahm Emanuel recently announced the launch of Community Investment Corporation's new 1-4 Unit Rental Redevelopment Program. This innovative program is among the first in the United States to finance the redevelopment of smaller buildings for affordable rental housing
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    Welcome new members!

    Associate member Owner/management member
    Cushman & Wakefield of Illinois Inc. Oakwood 200 Squared, Lessee LLC
    Encore Repair Services Inc.
    McNellis & Company Inc.
    ServiceMaster Restoration by Simons

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    Stuart Handler, CAA board member, discusses Chicago rental market
    Crain's Chicago Business
    As more construction cranes sprout in downtown Chicago, they remain rarer in neighborhoods such as Lincoln Park and Lakeview. Stuart Handler likes it that way. With few apartment developments going up in North Side neighborhoods, landlords like Handler have more freedom to raise rents than do owners of downtown high-rises, which are starting to feel the impact of a major construction boom that shows few signs of ebbing. For all the ebullience about the downtown renaissance, Handler is happy most of his buildings are elsewhere.
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    Know the Facts about Fair Housing — 2014 update
    CAA
    April is National Fair Housing Month! Plan to attend Know the Facts about Fair Housing Session on April 24. Join us as we cover Advertising, Fair Housing Laws, Disability Issues, Penalties and Discussion Scenarios.
    Session instructor: Marian Honel, manager, Fair Housing Division of the Illinois Department of Human Rights

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    Certified Apartment Maintenance Technician
    CAA
    8:30 a.m. - 4 p.m.
    Part 1: May 6-9, Part 2: June 3-5

    How can you improve your maintenance teams skills along with resident satisfaction, NOI and property value? Today's competitive job market means that continuing education could be the difference between getting a promotion and remaining stagnant. In fact, a recent survey of supervisors reported that 87 percent noticed an improvement in maintenance professional's work performance after earning CAMT and 100 percent believe the CAMT certificate is a great use of time and money.
    After completion of the CAMT course, company supervisors noticed that their employees:
  • Improved diagnosis of maintenance issues
  • Made more cost effective repair/replacement decisions
  • Better managed preventative maintenance programs
  • Gained confidence and had a boost in morale

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    UPCOMING COURSE SCHEDULE

    Date Event Location

    Complete Course Calendar
    April 23 Cook County Property Taxes 8:30-10 a.m.
    CAA Office, 557 W. Randolph, Ste. 201, Chicago
    $19
    Register/more info
    April 24 Know the Facts about Fair Housing — 2014 Update 8:30-11:30 a.m.
    CAA, 557 W. Randolph Ste. 201, Chicago
    $69
    Register/more info
    April 29 The Importance of Curb Appeal 8:30-10:30 a.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    Sponsored by: Landscape Concepts Management
    $19
    Register/more info
    Part 1: May 6-9
    Part 2: June 3-5
    Certified Apartment Maintenance Technician 8:30 a.m.- 4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago $849
    Register/more info
    July 14-18 Certified Apartment Portfolio Supervisor 8:30 a.m.- 4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    $1,250
    Register/more info




    Aid for rental market
    Chicago Tribune
    Duane Ehresman has bought and rehabbed 21 midsize multifamily buildings in some of Chicago's most challenged neighborhoods over the past 25 years. Now he is hoping a new program will help him tackle vacant, abandoned two- and three-flats on some of those blocks. A new $26 million loan pool, rolled out by Community Investment Corp. and backed by numerous lenders, seeks to entice local investors with proven track records to buy small rental buildings to increase the supply of affordable rental units in hard-hit communities.
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    Inside the country's 1st multifamily affordable passive house apartments
    New York Daily News
    It's passively revolutionary. The country's first multifamily affordable apartment complex built to strict passive house environmental standards has opened at 424 Melrose St. in Bushwick in New York. The Ridgewood Bushwick Senior Citizens Council and architect Chris Benedict completed the four-story white brick structure known as "The Mennonite" in February, and 22 of the building's 24 units now have tenants.
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    Crafting cooler content: Best practices for the multifamily industry
    Multi-Housing News Online
    Leah Etling writes: "On April 8, I was a panelist on a multifamily webinar sponsored by Apartments.com and Yardi Systems. Those who dialed in to the event were treated to an hour of insight on the best practices for multifamily content marketing. My section of the presentation focused on content marketing, specifically for multifamily communities. Here are a few of the thoughts I shared."
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    Developers pitch 28-story apartment tower for West Loop in Chicago
    Crain's Chicago Business
    After buying a parcel at Halsted and Lake streets in the West Loop, a development venture is seeking the city's blessing to build a 28-story apartment tower there. The venture including Chicago developer Jeffrey Shapack, Northfield-based Focus Development Inc. and Atlanta-based Atlantic Realty Partners wants to build as many as 227 residential units, nearly 10,000 square feet of retail space and up to 235 parking spaces at the southeast corner of the intersection, according to a zoning application recently filed with the city. An Atlantic Realty executive discussed the venture's apartment plans last month but declined to provide specifics.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

        Demand for downtown apartments growing fast (Crain's Chicago Business)
    Fannie-Freddie elimination model seen with apartments: Mortgages (Bloomberg Businessweek)
    Finance trends: Multifamily finance trends and HUD (Multi-Housing News Online)
    Illinois House rejects electronic rent payment prohibition bill (CAA)
    Planned Loop apartment conversion takes a step forward (Crain's Chicago Business)

    Don't be left behind. Click here to see what else you missed.


    LA landlords pushing out all the rent-controlled apartments
    Curbed LA
    If you have a rent-controlled apartment in Los Angeles, you are likely aware that you have been blessed by the rental gods and would only conceive of vacating your home in order to be buried. According to the LA Times, there are "roughly 638,000 such units left in Los Angeles," and they are disappearing at an increasing rate; many are being cleared out to make way for more high-end units.
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    North Jersey lenders see risks in multifamily, warn of repeat of housing bust
    The Record
    North Jersey's commercial real estate market is rebounding, but lenders should remember the hard lessons of the 2006 housing-bubble bust and remain wary about whom they finance, since white-hot sectors such as multifamily residential are likely to cool off, a panel of lenders said recently.
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    Top 5 reasons why 'the customer is always right' is wrong
    The Huffington Post
    Alexander Kjerulf, speaker, consultant and author, writes: "The phrase 'The customer is always right' was originally coined in 1909 by Harry Gordon Selfridge, the founder of Selfridge's department store in London, and is typically used by businesses to convince customers that they will get good service at this company and convince employees to give customers good service. However, I think businesses should abandon this phrase once and for all — ironically, because it leads to worse customer service. Here are the top five reasons why 'the customer is always right' is wrong."
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    CAA In Focus
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