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Which Maintenance Professional will earn the title of CAA Maintenance Mania Champion?
On Nov. 14, multifamily maintenance technicians from all over Chicagoland will come together at JC Restoration in Rolling Meadows to share best practices and compete in skill-based table games (in addition to a pinewood derby, with cars made solely out of maintenance supplies!). Time is running out to register, so do so today at www.caapts.org or email Jessica at Jessica@caapts.org for more info. A few sponsorships are also still available. Don't miss the opportunity to support and cheer on some of our industry's most valuable players!
Click here to watch video.
NYKO attendee registration now available
Registration for New Year Kick Off (NYKO) attendees is now available. Click here to register online or visit the NYKO event webpage for a faxable registration form. We look forward to seeing you there.
CAMME winners announced
Our signature event was another huge success. More than 1,000 people gathered to celebrate excellence in the industry. Click here for a list of winners and here to view photos from the evening.
New homes get built with renters in mind
The Wall Street Journal
More single-family homes across the nation are being built for renters, a shift that mirrors a steady decline in homeownership in the years since the housing bust.
Until recently, real-estate investors had focused primarily on scooping up tens of thousands of foreclosed homes, at a sharp discount, and converting them into rental properties. Now that the pool of these properties has declined and prices have risen, these investors are snapping up newly finished single-family homes to be used as rentals, or even developing vacant lots from the ground up.
Gov. Quinn calls for the preservation of 600 rental units in Chicago and Peoria
Gov. Pat Quinn recently announced the state's Preservation Now program will finance the preservation of approximately 600 affordable rental units for seniors and people with disabilities in Chicago and Peoria. The project is expected to create more than 500 jobs and is part of the governor's agenda to ensure quality affordable housing for working families, seniors and people with disabilities across Illinois.
Rental housing project survives challenge
Santa Barbara Independent
For years, it was the 11th Commandment among Santa Barbara, Calif., developers that no one in their right mind would try building rental housing; they'd lose their shirts. But now, Bruce Corwin — one of the longtime owners of the Arlington Theater and Metropolitan Theaters chain — is threatening to do the impossible right downtown without the aid of any government subsidy.
Legislature creates ownership program for multifamily homes in Massachusetts
The Massachusetts Legislature passed a Housing Bond bill recently that creates at least a $10 million program to encourage people buying and restoring multifamily homes in "challenged" neighborhoods.
The only requirement of individuals taking advantage of the subsidy is that they would have to be a resident of one of the units for at least 10 years.
Millennials' failure to launch is a function of poor US housing policy
USA Today just reported that U.S. home prices were up 1.3 percent in August from July. "Data through August shows that prices were up 12.8 percent year over year." In August as well the Huffington Post reported more than one in three millennials were living at home with their parents.
What's your business wearing?
By Mark MacDonald
What people wear — or the style they regularly wear — starts to become recognizable. In fact, we tend to wear similar things regularly. A brand is essentially that consistency we've become known for. And those things that are consistently used/worn become the visual identity of your brand. What's your business been wearing? Textures, styles and "cut" work into the equation, but color is the most recognized component of a brand suite.
City council to consider ordinance requiring rentals to have Crime-Free Housing licenses
The Hagerstown City Council in Maryland is slated to consider an ordinance that would make it unlawful for the city's residential rental facilities to operate without a Crime-Free Housing license, according to city documents.
Blackstone vies with Goldman in Spain rental housing bet
Blackstone Group LP, builder of the biggest single-family rental home business in the U.S., is using its experience to replicate the model in Spain, where property prices have dropped 40 percent. The world's largest private-equity firm, which has spent $7.5 billion buying 40,000 homes in the U.S., agreed in July to purchase 18 apartment blocks from the city of Madrid for $173 million.
Missed last week's issue? See which articles your colleagues read most.
CAA In Focus
Colby Horton, Vice President of Publishing, 469.420.2601
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Ashley Whipple, Senior Content Editor, 469.420.2642
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