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IN THIS ISSUE

CAA News
  • Save the date to Preview 2015
  • Let's get social
  • Only 1 month until the Business Exchange
  • Welcome new members


  • Education In Focus
  • Mastering Basic Leasing Skills
  • National Apartment Leasing Professional (NALP)
  • Certified Apartment Manager (CAM)
  • Certified Apartment Supplier (CAS)
  • Apartment All-Stars
  • Maintenance Mania & Solutions Conference


  • Industry News
  • Chicago homeowners, renters coping with burden of housing costs
  • Best markets to become a landlord
  • Top 20 apartment markets for rent growth for Q2
  • Condo de-conversions help stabilize Chicago neighborhoods
  • Apartment rents rise as incomes stagnate
  • Vacant-home crisis easing in some Chicago neighborhoods







  • Save the date to Preview 2015
    CAA

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    Let's get social
    CAA
    Join us for this end of summer networking event (the Summer Social) on Wednesday, Sept. 17. The three hour event is only $40 per member and will take place at Rebel Bar & Grill in Wrigleyville. Click here for more details and to register. We look forward to seeing you there!
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      FEATURED COMPANIES
    Bed Bug Elimination Specialists

    Prep X provides integrated pest treatments including skilled preparation services and heat chamber. After pest servicing, we will even put the encased bed back in place so residents can sleep that evening. Please click the above links for the e-brochures or email or call (312)339-5032 for free quote. Mention this ad and get the first bed encased FREE of charge.   

    M&J Asphalt Paving Compnay, Inc.
    As a family-owned & -operated company, we understand that budgets are paramount when it comes to making ground maintenance decisions. This is why we have committed ourselves to extending the lifecycle of your pavement.
    We take pride in delivering quality work in a wide variety of areas.
    Wheel Stops                            Striping
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    Only 1 month until the Business Exchange
    CAA
    Have you forgotten to sign up for the Exchange on Aug. 13? Now's your chance. Register today for the opportunity to participate in this high-value event!
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    Welcome new members!

    Associate members Owner/Management Members
    Glidden Professional Paint Centers Zidan Management Group, LLC
    MSB Resources

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    Mastering Basic Leasing Skills
    CAA
    Friday, July 25, 2014
    CAA Office, 557 W. Randolph Ste 201, Chicago
    8:30 a.m.-10:30 a.m.
    General rate: Only $39
    Coffee and breakfast snacks will be provided

    Come Hear How to Lease in a Competitive Market
    Beginners and Seasoned Pros alike will benefit from this session as take a fresh approach multi-family leasing and learn some proven tips on new trends in Chicago's highly competitive and challenging market.

    Presenter: Michael Lojas, NALP | Director of Leasing | DK Living

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    National Apartment Leasing Professional (NALP)
    CAA
    Aug. 12-14, 2014
    CAA Office | 557 W. Randolph, Suite 201 | Chicago, IL
    8:30 a.m.-4:30 p.m. | Each Day
    Member Ticket: $695 | Non-Member Ticket: $895

    Program Objective: To enhance the skills of the apartment leasing professional, resulting in better-informed, highly professional individuals with increased lease activity and improved resident relations.

    Designation Requirements
    To qualify for the NALP program, candidates must:
    • have worked in the apartment industry for six months
    • complete all 7 NALP courses
    • complete the Market Survey Project and Presentation, which requires candidates to demonstrate professional-level written and verbal communication skills in English and submit accurately completed paperwork
    • receive a passing grade of at least 70 percent on the comprehensive exam

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    Certified Apartment Manager (CAM)
    CAA
    Sept. 15-19, 2014
    CAA Office | 557 W. Randolph, Suite 201 | Chicago, IL
    8:30 a.m.-4:30 p.m. | Each Day
    Member Ticket: $955 | Non-Member Ticket: $1145

    Program Objective: To enhance the skills of the apartment manager, which can result in better managed and more profitable rental properties, improved resident retention rates and increased employee productivity.

    Designation Requirements
    To qualify, CAM candidates must have:
    • Worked in the apartment industry for at least 12 months (can be obtained during the candidacy period for CAM);
    • Successfully completed the nine courses (which total 55 1/2 hours)
    • Receive a passing grade of at least 70 percent on the two-part online comprehensive exam

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    Certified Apartment Supplier (CAS)
    CAA
    Sept. 16, 17, 19, 2014
    CAA Office | 557 W. Randolph, Suite 201 Chicago, IL
    8:30 a.m.-4:30 p.m. | Each Day
    Member Ticket: $499 | Non-Member Ticket: $699

    Program Objective:
    To enhance the skills of the apartment community supplier, resulting in individuals with increased professionalism and an improved knowledge of the needs of today's apartment community managers and supervisors.

    Designation Requirements
    To qualify for the CAS program, candidates must:
    • Pass comprehensive exam including the four required course sections of the CAM modules.
    • Sign an agreement not to solicit products in classroom.

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    Apartment All-Stars
    CAA

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    Maintenance Mania & Solutions Conference
    CAA

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    Chicago homeowners, renters coping with burden of housing costs
    Chicago Tribune
    About a third of homeowners in the Chicago area and just more than half of renters are cost-burdened, meaning they spend more than 30 percent of their income on housing. What's more, 14 percent of local homeowners and 30 percent of renters are severely cost-burdened, spending more than half of their income on housing. The median monthly housing cost for a renter in the Chicago area is $940. It's $1,489 for a homeowner.
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    Best markets to become a landlord
    CNN
    The rental market has been booming over the past several years, with many landlords earning double-digit returns of 10 percent or more. And while rising home prices have dampened returns for landlords in some markets, other markets still offer plenty of profits, according to RealtyTrac, which analyzed rental market conditions in 370 major U.S. counties, including median home prices, average rents and unemployment rates.
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    Top 20 apartment markets for rent growth for Q2
    Property Management Insider
    The U.S. apartment market had about as impressive a second quarter as you can get. Occupancy jumped up to a seven-year high, even with newly built units hitting the market in large numbers. And quarterly rent growth reached a 14-year high. The annual effective rent growth pace, as of the second quarter, came in at 3.5 percent, trending upward from 3.2 percent in the first quarter of 2014 and 2.9 percent in the fourth quarter of 2013.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

        Median rents for Chicago apartments by neighborhoods (CBS)
    10 most stressed out cities (CNN via WSBT-TV)
    Why everyone wants to flip a house in Chicago (Chicago magazine)
    New tax bills are sign of new trend: Decreasing values and increasing rates (Myer Blank)
    Rental market remains hot with national apartment occupancy at 6-year high (US Finance Post)

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


    Condo de-conversions help stabilize Chicago neighborhoods
    WBEZ-FM
    A construction worker tears out and puts in new drywall in a nine-unit building on 80th Street and St. Lawrence Avenue on Chicago's South Side. Dust blankets the hard wood floors as rehab is underway. New windows gleam in the summer sun. This once was a condo development. The city of Chicago de-converted the building in August 2011, and later this summer, the apartments will be ready for rent.
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    Apartment rents rise as incomes stagnate
    The Wall Street Journal
    Apartment landlords continued to push through hefty rent hikes in the second quarter, squeezing U.S. households that already are struggling financially after four years of steady increases. The average monthly rent for an apartment rose to $1,099 in the second quarter, up 0.8 percent from the first quarter, according to data to be released by real estate research firm Reis Inc. That was the 18th consecutive quarter of rent increases.
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    Vacant-home crisis easing in some Chicago neighborhoods
    Crain's Chicago Business
    Local home prices are rising and foreclosures are falling, but the most visible sign of Chicago's housing crisis — the vacant home — isn't fading away. In the first quarter, 2.9 percent of all residential addresses in Chicago had been vacant two years or longer, up from 2.6 percent in fourth-quarter 2013 and the same level as a year earlier, according to the Institute of Housing Studies at DePaul University.
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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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    Chicagoland Apartment Association
    557 W. Randolph St. #201 Chicago, 60661
    Phone: 312-207-1890/Fax: 312-207-1890

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