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State Legislative Update
The Illinois Legislative session closed at the end of May. CAA is reviewing bills that have been passed for industry impact and will recap in next InFocus.
Last week to enter CAMME
It's your last chance to enter our premier awards program. 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 honors new designates
Please join us in congratulating the following individuals who received their national designations:
Certified Apartment Manager (CAM)
Colleen Annerino, AMLI at Danada Farms
Melissa Beck, Malkin Properties
Allison Coble, JVM Realty
Steven Gouletas, National Rental Services
Elia Hennessy, Golub & Company
Jennifer Hoskinson, Marquette Management
Sandra Kowalczyk, Marquette Management
Katherine Madison, Covey at Fox Valley
Michael Root, Root Realty
Certified for Apartment Maintenance Technicians (CAMT)
Marcin Zimin, McClurg Court Center
CAA welcomes our newest member!
Glass Ratner Management LLC
Maintenance Mornings! — Curb Appeal
8:30-10 a.m. June 13
CAA Office — 557 W. Randolph St., Suite 201, Chicago
Location is an important factor in real estate, but curb appeal is also vital because of the increased competition in each market. With so many properties available for rent, owners must take the extra steps to make rental properties stand out. This session will cover some things you can do to make sure the exterior impression is a good one! Register today!
Chicagoland Apartment Association on navigating HUD's 'disparate impact' rule
8:30 a.m.-noon July 25
Roosevelt University, 425 S. Wabash, Chicago
CAA/NAA/NMHC will host a seminar to help members understand the impact of this regulation.
On Feb. 8, HUD issued a final rule implementing the Fair Housing Act's Discriminatory Effects Standard. In addition to establishing uniform standards for determining when a real estate practice or policy violates the act, this final rule formalizes HUD's long-standing position that liability under the Fair Housing Act may be established under the "disparate impact" theory. The rule will force the apartment industry to review rental policies and practices, especially in the areas of occupancy limitations, resident screening and Section 8 voucher policies. Register today!
As housing recovery goes into full swing, some pros find pure-plays other than homebuilders
The big economic story that continues to baffle the skeptics is the steady recovery of the battered U.S. housing industry. But even so, plenty of investors are now re-discovering the sector. Predictably, they have been snapping up shares of homebuilders to jump on the group's revival. But some investment pros aren't limiting themselves to homebuilding stocks. Other companies that feed off the industry's revival and growth, among them the paint producers, have started to increasingly attract investor interest.
Big city, tiny apartment: Small-scale living is new trend in US
Reuters via Chicago Tribune
Aaron McConnell doesn't mind sharing a kitchen with seven neighbors. He's fine in living quarters with just enough room for a twin bed, a corner desk and little else. Closets? Forget about it — he stores his clothing and other possessions on shelves and hooks.
McConnell's small-scale home life is part of a hot trend in U.S. real estate — micro apartments.
Consumer sentiment in US rises to highest since July 2007
Consumer confidence rose in May to the highest level in almost six years as a rising stock market and property values helped lift Americans' outlook on the economy. The Thomson Reuters/University of Michigan final index of sentiment increased to 84.5 in May, the strongest since July 2007, from 76.4 a month earlier. The median forecast in a Bloomberg survey called for the gauge to hold at its preliminary reading of 83.7.
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Real estate market trends: Pending sales up slightly
In other real estate market trends reported, National Association of Home Builders reports the outlook for the apartment and condominium market has improved. The trade group's Multifamily Production Index rose two points to an index level of 52. The index tracks builder and development sentiment over three aspects of the multifamily housing market. Any reading over 50 indicates a greater number of respondents view conditions as positive rather than negative.
Condo, apartment developers using design psychology
Long gone are the days when developers of condos and apartments could market a building on its location, amenities or view alone. With a lot of new units hitting the downtown market, aimed at sophisticated consumers who have watched their fair share of HGTV, developers continue to step up their game for people who've emerged from the recession with a better-honed sense of value and quality.
Investors bet tiny micro apartments can yield outsized returns
In keeping with the current "small can be beautiful" trend in corporate office space and storefronts, studio micro apartment units are getting a long look from developers and investors hoping to maximize returns in several of the nation's most heated multifamily markets.
From Boston, New York City and Washington, D.C., to San Francisco and Southern California, builders are proposing new apartment projects with significant mixes of ultrasmall units measuring as little as 220 square feet — smaller than some single-family residential kitchens and bathrooms and an average of 40 percent smaller than the average studio apartment.
Missed last week's issue? See which articles your colleagues read most.
Do's and don'ts when using Internet to screen tenants
Question: With all the information you can get on the Internet these days, I always run a Google search on apartment applicants. I've heard that there's a legal risk in doing this — that I may learn things that I'm not legally allowed to rely on when choosing applicants. But I sometimes find information that's contrary to what applicants report on their applications. How can I use the Internet safely?
7 strategies for simplifying your organization
Harvard Business Review
Over the past several years we have heard hundreds of managers talk about the negative impact of complexity on both productivity and workplace morale. Agreeing on complexity as a problem is one thing, but doing something about it is quite another — particularly for managers who are already over-worked, stressed and can barely keep up with their current workload.
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