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IN THIS ISSUE

CAA News
  • CAA urges Governor to sign security deposit and property tax exemption legislation
  • CAA Charity Rooftop event
  • Summer Social sponsorship
  • Business Exchange associate registration date
  • Welcome new members!


  • Education In Focus
  • Fair Housing Class — Focusing on Discrimination in Housing
  • Leasing Class: Leasing Existing Apartments in a New Construction Market
  • Upcoming Classes


  • Industry News
  • No clear guidance with Supreme Court's disparate impact Decision
  • US apartment rents jump as tenant demand stays strong
  • Which Chicago neighborhoods are home to people who are less likely to move?
  • Why so many two-flats are turning into one-flats








  • CAA urges Governor to sign security deposit and property tax exemption legislation
    CAA
    On July 13, CAA sent letters to Governor Bruce Rauner urging him to sign legislation passed by the General Assembly this spring. HB 1319, sponsored by Rep. Lou Lang, amends the Security Deposit Interest Act by requiring that accumulated interest be paid to tenants only on amounts of $5.00 or more per 12-month rental period. Click to see CAA letter. SB 780 addresses the problem of erroneous property tax exemptions by requiring new owners to re-apply for any exemptions for which they might be eligible, instead of rolling them over from previous owners. Click to see CAA letter.
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    CAA Charity Rooftop event
    CAA
    Eight O Five
    805 N. LaSalle Street • CHICAGO, IL 60642
    Thursday, July 23, 2015
    5 p.m.-8 p.m.
    $10 cash at the door donation. You must RSVP to attend.
    Register Here

    Space is limited. All Proceeds will go to Mercy Home for Boys & Girls.
    Sponsored by Greystar

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    Summer Social sponsorship
    CAA
    Sponsorship sales for our Aug. 26 event start on Wednesday, July 22 at 10 a.m. CST via our website (CAA members only). Visit the Summer Social Web page for details and don't forget to register to attend!
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    Business Exchange associate registration date
    CAA
    Registration for associate members (members only) for our Sept. 9 reverse trade-show styled networking event begins on Thursday, July 30 at 10 a.m. CST via our website. Visit the Business Exchange Web page for details on attending and event sponsorship.

    Management companies — don't forget you get to attend for free*, support the CAA PAC, and have quick meetings with vendors/potential vendors all in one afternoon by registering to attend.
    *Pre-registered no-shows will be billed $50/person.

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      FEATURED COMPANIES
    ComEd
    Commonwealth Edison Company (ComEd) provides electric service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state's population. Learn more about Smart Meters. MORE
    All Nation Renovation Inc
    All Nation Renovation provides a full spectrum of construction and renovation services, including major interior and exterior rehabs, customized paint projects and fire or water restorations. MORE


    Welcome new members

    Associate Member Owner/Management Company
    BMO Harris Bank Steadfast Management
    Bruno Construction Tuckpointing & Masonry Inland Residential Real Estate Services
    Perfection Flooring, Inc.

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    Fair Housing Class — Focusing on Discrimination in Housing
    Thursday, July 23, 2015
    8:30 a.m.-11:30 a.m.
    CAA| 557 W. Randolph 2nd FL. | Chicago, IL
    Instructor: Patricia Trombello, Technical Training Consultants, Inc./IAR
    Register Here

    Just when you thought you knew everything about fair housing, along comes some real life situations to make you STOP and listen. We will analyze in an interactive setting, true complaints against owners and managers and learn from the final rulings.

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    Leasing Class: Leasing Existing Apartments in a New Construction Market
    Thursday, Aug. 11, 2015
    9 a.m.-11 a.m.
    Appraisal Institute, Chicago Chapter | 205 W. Wacker Dr. #202 | Chicago, IL
    Presenter: Lisa Trosien | Apartment All-Star
    Register Here

    Hear from Lisa Trosien as she walks you through leasing, marketing and resident retention strategies and techniques to keep your apartments full and your existing residents happy. This fast paced 2 1/2 hour session is guaranteed to give you at least a dozen new ideas on how to keep the playing field level.

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    Upcoming Classes

    July 23, 2015
    Fair Housing Discrimination
    CAA| 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    Aug. 4-6, 2015
    Certified Apartment Maintenance Technician (CAMT)
    Part Two

    CAA| 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    Aug. 11, 2015
    Leasing Class: Leasing existing apartments in a new construction market
    Appraisal Institute, Chicago Chapter | 205 W. Wacker Dr. #202 |
    Chicago, IL
    Register Here

    Part One | Oct. 6-8, 2015
    Part Two| Oct. 21-23, 2015
    Certified Apartment Manager (CAM) & Certified Apartment Supplier (CAS)
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here





    No clear guidance with the Supreme Court's disparate impact decision
    Greg Brown, NAA
    Apartment Industry Colleagues,

    After much anticipation, speculation and contemplation of the potential ruination of the apartment nation ... the Supreme Court of the United States (SCOTUS) finally released its decision on Texas Department of Housing and Community Development v. The Inclusive Communities Project, Inc. For those unfamiliar with the name, this is the case that answers the question of whether the Federal Fair Housing Act supports the concept of disparate impact in housing discrimination cases. In other words, can someone be liable without intent to discriminate. The answer, by a vote of 5 to 4, is yes…with some caveats and provisos.

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    US apartment rents jump as tenant demand stays strong
    Bloomberg
    Apartment rents in the U.S., already at record highs, have yet to cool down. Effective rents, the amount tenants pay after concessions from landlords, climbed 1 percent in the second quarter from the previous three months to an average of $1,144, according to a report from Reis Inc. The pace of growth accelerated from 0.7 percent in the first quarter and 0.6 percent at the end of last year.
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    Which Chicago neighborhoods are home to people who are less likely to move?
    DNAinfo
    The farther Chicagoans live from Downtown, the likelier they are to stay put. A DNAinfo analysis of U.S. Census data found that neighborhoods closer to downtown — parts of Chicago featuring more apartments than single-family homes — have a much higher transient population than those neighborhoods on the north or south end of the city.
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    Why so many two-flats are turning into one-flats
    Crain's Chicago Business
    In hot Chicago neighborhoods, some investors have decided that one is greater than two. They're converting rental two-flats into single-family homes, which are in short supply in places like Andersonville, North Center and Lincoln Square.
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    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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    Esther Cho, Content Editor, 469.420.2671  
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    Phone: 312-207-1890/Fax: 312-207-1890

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