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IN THIS ISSUE

CAA News
  • City Council approves ordinance to strengthen law, encourage landlords to install smoke, carbon monoxide detectors
  • Parity achieved
  • DC disparate impact ruling
  • Last week to get NYKO early bird pricing
  • Trade Show & Education Conference 2015 booth sales
  • CAMME Awards
  • Welcome new members


  • Education In Focus
  • Education Section


  • Industry News
  • Why more people are renting their pieds-a-terre
  • Study: Landlords on South, West sides can't get loans
  • Homeownership rate slips again in third quarter
  • Don't be conned by tenants who always have a story
  • Rising rents correlate with less home improvement spending







  • City Council approves ordinance to strengthen law, encourage landlords to install smoke, carbon monoxide detectors
    Chicago Mayor's Office
    Mayor Emanuel and Aldermen Burke, Balcer and Solis approved an important public safety ordinance that repeals a dangerous post-citation compliance defense for residential landlords who forego the installation of smoke detectors and carbon monoxide detectors. The approved ordinance amends the building code for smoke and carbon monoxide detectors to hold residential landlords accountable by eliminating the defense.
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    Parity achieved
    By Greg Brown, NAA
    It appears that after eight years of missteps and missed opportunities, the Republican Party has finally figured out its campaign strategy, tactics and infrastructure. That starts with candidate selection and oversight, brings in better polling and message testing and finishes with strong and accurate get-out-the-vote operations. Add in the muscle and money of third-party groups like Americans for Prosperity, American Crossroads and others and you have a machine that gave Republicans control of the Senate, their largest House majority since Harry Truman was in office and expansion of their control of state legislatures and governors' mansions.
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    DC disparate impact ruling
    By Chelsea Bossenbroek of the Law Offices of David K. Barhydt
    On Nov. 3, 2014, the U.S. District Court for the District of Columbia ruled in American Insurance Association, et al. v. United States Department of Housing and Urban Development, et al, that disparate impact claims are not cognizable under the Fair Housing Act. Instead, Judge Leon held that only intentional discrimination causes of action may be brought under the Fair Housing Act.
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    Last week to get NYKO early bird pricing
    CAA









    Sunday, Nov. 30 is the last day to register for our annual new year celebration, NYKO, at $125 member/$150 non-member pricing. Make sure to sign you and your teams up online. Call now! Starting on Monday, Dec. 1, prices increase by $25 per person.

    Several high-value sponsorships are still available. Don't miss the opportunity to get visibility for your company at the first big industry meeting of the year. Click here for sponsorship details and here to register for your sponsorship today (members only).

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    Trade Show & Education Conference 2015 booth sales
    CAA
    Preview the floor plan for our Trade Show & Education Conference (TSEC) on April 14 online at the TSEC event web page. Hover your mouse over each booth to see its details. Booths for 2014 exhibitors will go on sale at 10 a.m. CST on Dec. 10 and all others at 10 a.m. CST on Jan. 21. Base booth price will be $1255. All exhibitors must be paid 2015 members of CAA. Additional details will be posted as they become available.
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    CAMME Awards
    CAA
    As we announced 2 weeks ago, the 2015 Chicagoland Apartment Marketing and Management Excellence (CAMME) Awards will be held on Thursday, Nov. 5 at Navy Pier in Chicago. Final category details and entry dates have not yet been announced, however we are already accepting applications from volunteers for judging. Judging will take place from July 27-Aug. 7. Click here for a volunteer application with fillable fields. All forms should be submitted to Lisa Henning.
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    Welcome new members!

    Associate Members
    Adrently, Inc.
    Northern Contours, Inc.
    TigerLaw
    Planned Property Management

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    Education Section

    Dec. 10-11, 2014
    8:30 a.m.-4 p.m.
    Leasing Agent Licensing
    Register/More Info: Here
    National Louis University| 122 S. Michigan | Chicago, IL

    Jan. 14-15, 2015
    8:30 a.m.-4 p.m.
    Illinois Broker Management (BME 1802)
    Register/More Info: Here
    National Louis University| 122 S. Michigan | Chicago, IL

    Feb. 24-27, 2015
    8:30 a.m.-4 p.m.
    Certified Apartment Portfolio Supervisor (CAPS)
    Register/More Info: Here
    CAA | 557 W. Randolph, Ste 201. | Chicago, IL

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    Why more people are renting their pieds-a-terre
    Crain's Chicago Business
    The downtown apartment construction boom has fueled a new trend: the pied-a-terre rental. These part-time city residences long have been a status symbol for suburbanites and others seeking a weekend getaway or weeknight respite from work downtown. Historically, people with the financial means bought these residences, but the new wave of luxury towers with small apartments makes renting an increasingly attractive option, tenants and developers say. Part-time tenants interviewed for this story said the record rents landlords are charging for high-end apartments are still lower than buying a comparable condominium, renovating it and paying a mortgage, taxes, association dues and other homeowner expenses.
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    Study: Landlords on South, West sides can't get loans
    Crain's Chicago Business
    In Chicago's downtown and on the North Side, rents are on the rise and banks are lending millions of dollars to finance huge apartment deals. On the city's South and West Sides, there's plenty of demand, too. But landlords can barely get a loan.
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    Homeownership rate slips again in third quarter
    Chicago Tribune
    The growing ranks of renters have pushed down the nation's homeownership rate once again. The Census Bureau reportd the nation's homeownership rate fell to 64.4 percent in the third quarter, a low not seen since the first quarter of 1995, when the rate was 64.2 percent. It was the fourth consecutive quarterly decline for homeownership. In 2013's third quarter, the rate was 65.3 percent, according to the data.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

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


    Don't be conned by tenants who always have a story
    Real Estate Weekly
    It's not every day that you imagine the landlord as a victim, but it can and does happen all the time. We want to see the best in everybody. Often we go out of our way to help others. In some cases, it's as simple as opening the door for somebody with their hands full, or you may on rare occasions lend somebody $20 not expecting anything in return. One of the realities about human behavior is that we are "wired" to closely follow social norms. It can be very hard to deviate from social norms as this causes significant stress.
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    Rising rents correlate with less home improvement spending
    Housing Wire
    A study by BuildZoom shows that in San Francisco, zip codes in which rents increased more steeply have actually tended to see remodeling and home improvement activity increase less than elsewhere, and in some cases even decline.
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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
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