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CAA
We strive every day to make CAA a true benefit to you and your company, while continually looking for ways to improve and build upon our existing programs and services. Your membership renewal is vital to our success, so we hope you will consider rejoining in 2017. Renewal invoices will be sent via email to the main contact of each member company on Wednesday, Nov. 30. Please be sure to keep an eye open for it and let us know if you have any questions.
With your support, in 2016 we reached new membership heights of 184 apartment owner/management companies, 921 properties, 182,916 units and 284 vendor members, strengthening our position as "The recognized leader for advocacy and resources to the multifamily industry in Chicago and Illinois." We fought for and won favorable provisions in Chicago’s short-term housing (Airbnb ) ordinance, reduced fees associated with the new Cook County Rental Housing Registration Ordinance, and defeated efforts to expand the Cook County Homeowners' Exemption. We continue to advocate for changes to the RLTO that will discourage frivolous lawsuits, improvements to the Housing Choice Voucher Program, and changes to the Building Code that will reduce costs. Our affiliation with the National Apartment Association ensures your interests are protected at the local, state and federal level. We’re working hard to protect the industry and ensure our members can conduct business successfully.
This year over 1,000 apartment industry professionals attended the CAMME Awards, we held our biggest Trade Show and Education Conference ever, and over 300 members attended Preview 2017. Our networking events like NYKO, Business Exchange, Golf Outing, and others provide an opportunity for apartment owner/manager members to conduct business with associate/vendor members. Our excellent educational offerings throughout the year, including NAA designation classes and sessions on specific and timely “hot topics” provide state of the art professional development opportunities. To help ensure continued growth and success, the Board of Directors this year adopted a new business plan that includes heightened advocacy campaigns, statewide membership growth, innovative professional development opportunities, sound financial planning, increased public relations and additional staff resources.
We look forward to another great year and hope we can count on your continued support. Thank you again for all you do for CAA and the industry. We couldn't do what we do without you!
CAA
On Nov. 22, a Texas federal judge blocked the Department of Labor overtime rule that would make more than 4 million private-sector workers eligible for extra pay.
U.S. District Judge, Amos Mazzant, imposed a preliminary injunction against the rule at the request of 21 states, the U.S. Chamber of Commerce and other business groups. While the rule was set to take effect Dec. 1, the injunction preserves the status quo. The Court will now adjudicate the rule's validity.
Separate from litigation, Congressional Republicans are keen to overturn the rule legislatively. Although President Obama would likely veto any such effort, President-elect Trump could look more favorably on such an approach when he takes office in January. President-elect Trump last August said he favored exempting small businesses from the rule. Absent legislative action, the Trump Administration could also propose a new rule. The Trump team has made clear that rolling back regulations that increase burdens on job creators is a top priority.
NAA/NMHC strongly favor repealing the current rule and support all avenues to achieving that objective.
More information on DOL’s overtime rule can be found here.
NAA members who have questions are asked to contact NAA Government Affairs.
Provided by NMHC as part of the NAA/NMHC Joint Legislative Program
CAA
With the Illinois Affordable Housing Tax Credit (or Donations Tax Credit) scheduled to expire at the end of the year, CAA lobbied the General Assembly to approve legislation during Veto Session to extend the life of this critical program. HFA #2 to SB 2921 was approved by the House of Representatives by a vote of 79-29. The Senate is expected to vote on the bill this week. Click here to read CAA's letter-to-the-editor published in the Springfield State Journal-Register on Nov. 15.
CAA
The highly anticipated New Year Kick Off (NYKO) event will be held on Thursday, Jan. 26, 2017 from 6 p.m.-9 p.m. at Morgan Manufacturing in Chicago. Attendee registration can be found here, and sponsorships are now available. Get in on Early Bird pricing, now through Dec. 21! Contact Andrea at andrea@caapts.org for additional information.
Taking Benchmarking to the Next Level
Wednesday, November 30,2016
USGBC-Illinois
Register Here
City of Chicago Recycling Ordinance
What you need to know
Wednesday, December 7, 2016
CAA Office, 557 W. Randolph, Ste. 201, Chicago, IL
Register Here
Illinois Broker Management (BME 1803)
December 13 & 14, 2016
CAA Office, 557 W. Randolph, Ste. 201, Chicago, IL
Register Here
Certificate for Apartment Maintenance Technician (CAMT)
Classes start February 2!
Register Here
Certified Apartment Manager (CAM)
Classes Starts March 21
Register Here
Chicago Tribune
Renters and condominium owners in downtown Chicago are starting to get some relief from the painful financial pressures inflicted by the 2008 housing bust. Tortured by sharply escalating rents amid a building boom of new luxury units, renters are finally seeing rates climb slower and even drop a little in new buildings. People trying to sell condominiums are selling into a market that's recovered 26 percent from the lows of the housing crash and now generates prices above 2008 peaks.
READ MORE
Bisnow
As the luxury residential market in Chicago grows ever more competitive, developers must take advantage of the wealth of knowledge professional property management teams can lend to their projects. Currently, there are 44 high-rises under construction in Chicago. This increased demand for new apartments and even new condominium projects, which contracted during the recession, is showing no signs of slowing. The average price of a Chicago condo has ballooned to July 2004 levels. According to Zillow.com, rents are up and housing inventory is down 10.9 percent from last year.
READ MORE
DS News
Soon, investors will find themselves purchasing more single-family rental properties due to the changing of seasons.
The Seasonal Single-Family Rental Investment Advantage Report, generated by HomeUnion, revealed that the winter off-peak period is the best time of the year to acquire SFRs. The report also found that investors will pay 7.2 percent less per square foot during the winter than they would during the summer months for the same property.
READ MORE
Multi-Housing News
In a recent survey, Freddie Mac found that U.S. renters are more worried about rising utility bills than rising rents, and that nearly half of renters surveyed say they're willing to pay more for rentals with cost-saving water and energy features. There was also no change in the propensity to rent, with a small majority saying they expect to rent their next home. Compared to earlier surveys, the new research (done in September) shows more renters saying they're satisfied with their rental experience, but worried about their financial situations.
READ MORE
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