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Apt.itudes — new partnership with Naylor LLC
We are pleased to announce that we have chosen to work with Naylor LLC, as our official media communication partner to produce our quarterly magazine, Apt.itudes. As the leading provider of print and online media in the association community, Naylor brings a wealth of experience to our already highly regarded member resource. Apt.itudes delivers your company's message to property owners, managers, engineers, maintenance technicians and leasing professionals who specify products and approve purchases on behalf of their companies. The Third Quarter "Directory & Buyers' Guide" edition will bring you a new, contemporary design fit for the fast-paced professionals in Chicago's rental housing industry. For information on advertising in Apt.itudes, Click here to view Naylor Media Kit.
Golf is sold out — waiting list is open
The CAA Golf Outing is sold out, but we do get cancellations so send your paperwork and get added to the waiting list.
How about dinner? Click here to register.
And if you're not a golfer come join us for a buffet dinner under the Pavilion Tent at Cog Hill.
Online registration for dinner is still open.
Trade Show photos now in gallery
The 2013 Trade Show & Education Conference was a big success featuring more exhibitors, education sessions and attendees. Click here to see pictures from the show and here to find exhibitors you may have missed.
CAMME entry/co-entry deadline June 7
CAMME entry and co-entry forms are due no later than June 7. For a list of categories click here. For the comprehensive list of all things CAMME (judging dates, location, criteria, etc.) click here.
Interested in judging? We need property management company judges. Click here to fill out your form to volunteer.
CAA welcomes our newest members!
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Multifamily industry launches new 'Apartments. We Live Here.' campaign
The National Multi Housing Council and the National Apartment Association unveiled a new integrated campaign titled "Apartments. We Live Here." The campaign tells the story about how in communities
across the country, apartments work — helping people live in a home that's right for them. Whether it's young professionals
starting out, empty nesters looking to downsize and simplify, workers wanting to live near their jobs, married couples without
children or families building a better life, apartment homes provide a sensible choice to meet their specific housing needs.
DePaul Study: Shortage of affordable rental housing hits Chicago area
eNews Park Forest
Demand for affordable rental housing for lower-income households in Cook County outpaces supply, according to a new report from DePaul University's Institute for Housing Studies.
The findings show an affordability gap, between demand and supply of affordable housing in suburban Cook County, increased by 25 percent between 2007 and 2011. The city of Chicago experienced an 8 percent increase in the gap during the same time.
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US rental construction points to inferior housing recovery
The Globe and Mail
Many investors argue the recent surge in rental construction is the salvation of the U.S. housing market. Some basic economics, however, suggests otherwise.
In the United States, history indicates a rental property is an "inferior good" — meaning the demand for rental property increases as income declines. This fact is easily seen by the 80 percent correlation between real income and the home ownership rate.
Tight rental market pushes people out of the Twin Cities
Minnesota Public Radio
The Twin Cities metro area is experiencing the lowest rental housing vacancy rate in about a decade. The tight market and rising rents are making it difficult for people to find cheap apartments.
New numbers show the average market rent in the Twin Cities for the first three months of this year was $966 a month. That's about $30 more than it was a year ago, according to Marquette Advisors, a real estate consulting firm.
Buy-to-rent investors boosting remodelers, landscapers, property managers
San Francisco Chronicle
Remodelers, painters, landscapers and property managers are among the industries that should see strong growth this year thanks to the housing rebound, according to a new study from IBISWorld. These industries are getting an added push from investors buying single family homes to rent or flip. Investors generally buy distressed homes that need lots of work and spend money faster than traditional buyers because they are in a hurry to get the home on the rental or sale market.
Missed last week's issue? See which articles your colleagues read most.
Lake Bluff apartments sell for 31 percent more than 2011 price
Crain's Chicago Business
Local apartment landlord Prime Property Investors Ltd. sold a 224-unit multifamily property in north suburban Lake Bluff for almost 31 percent more than it paid for the complex less than two years ago.
The Northbrook-based company said it sold the Deer Valley Luxury Apartment Homes for $28.6 million to Steadfast Income REIT, an Irvine, Calif.-based investor.
Do you have what it takes to be a landlord?
The Globe and Mail
Despite the long list of potential hazards, the possible rewards of being a landlord often outweigh the downsides. Here are the top 10 reasons why you should become a landlord.
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