January/February 2015 - Indiana Apartment Association
Transcription
January/February 2015 - Indiana Apartment Association
January/February 2015 The Official Publication of the The WOW Factor Renovations add to established properties Also INSide... • Legislative Update • Volunteers • Maintenance Appreciation TABLE of Contents Published bimonthly by the Indiana Apartment Association January/February 2015 14 The Official Publication of the 22 The Indiana Apartment Association 9100 Keystone Crossing, Ste. 725 • Indianapolis, IN 46240 P: 317-816-8900 • F: 317-816-8911 • [email protected] • www.iaaonline.net _________________________________________________________ OFFICERS Chairman Sandy Carmin, Englert Management Corporation Vice Chairman Chad Greiwe, Gene B. Glick Company Secretary Mark Juleen, J C Hart Company Treasurer Brian Cranor, Cityscape Residential LLC Past Chairman Jerry K. Collins, Flaherty & Collins Properties Volunteers Guide IAA direct BOARD members Don Brunner, Denizen Management John Ehrhardt, The Sterling Group Randy Escue, Dominion Realty, Inc. Nancy Flynn-Strater, The Sexton Companies Nikki Gastineau, CFC, Inc. Mike Gorman, Edward Rose & Sons Cindy Green, HI Management Jon Hicks, Andover Management Corp. Michael Humphrey, AMP Residential Alex Jackiw, Milhaus Management, LLC Cindy Koehler, Buckingham Management Steve Lavery, Herman & Kittle Properties Tom Spencer, Meridian Management Corporation George Tikijian, Tikijian Properties Chuck Townsend, Sheehan Property Management Mary Trujillo, Barrett & Stokely Adam Van Rooy, Van Rooy Properties Joe Whitsett, TWG Management IN Sites is a Winner Also INSide... From the IAA President....................................................................................................................................4 From the IAA Chairman of the Board.........................................................................................................5 Maintenance Appreciation..............................................................................................................................5 PAC Contributors.................................................................................................................................................6 From the NAA Chairman.................................................................................................................................8 Legislative Update..............................................................................................................................................9 Legislative Lunch..............................................................................................................................................12 New Officers and Board Members............................................................................................................13 Around The State.............................................................................................................................................18 Member News...................................................................................................................................................20 Recent CAM and CAMT Designates...........................................................................................................21 Assistant Manager of the Year Q & A........................................................................................................22 Upcoming Events.............................................................................................................................................23 New Member Profiles.....................................................................................................................................24 National Focus...................................................................................................................................................26 Associate Member Update...........................................................................................................................28 Call for Submissions March/April & May/June 2015 chapter BOARD members Tamera Brandt, New Generation Management Teri Hedemark, Flaherty & Collins Properties Sara Heiliger, The Ivy Towns and Flats Joe Huber, Huber Properties Colleen LeRose, Banner Property Management, LLC associate BOARD members Lara Smith, Apartment Guide Consumer Source, Inc. Chris Moore, APCO Supply Victoria Schuman, Hays + Sons chapter staff members Yvonne Avary • Executive Director, Apartment Owners and Managers Association of Terre Haute Beth Wyatt • Executive Director, Apartment Association of Fort Wayne and Northeast Indiana TBD • Executive Director, Apartment Association of Southern Indiana Paula Carey • Executive Director, Northern Indiana Apartment Council The March/April issue of INSites will feature INCREASING TRAFFIC and the May/June issue will feature CREATING A SENSE OF COMMUNITY. To suggest related editorial content please contact Jean at [email protected] or 317-816-8900. On the Cover: Newly renovated communities offer impressive features. Page 10. IAA Staff INSites Publisher Lynne Petersen, CAE, President • [email protected] INSites Editor Jean Lloyd • [email protected] Director of Government Affairs Gretchen White • [email protected] Director of Membership & Education Franny Upp • [email protected] Director of Events & Expositions Lauren O’Neill • [email protected] Accounting & Education Assistant Kristie Fessler • [email protected] Events & Exposition Assistant Meredith Galliher • [email protected] Accounting Manager Mary Massey • [email protected] Front Desk Coordinator Cassandra Bingham • [email protected] IAA Advertising Directory ACI, Inc...........................................................................Back Cover Apartment Guide.......................................................................p. 1 Central Indiana Asphalt & Concrete, LLC..............Inside Front Cover Cort.........................................................................................p. 22 CRG Residental........................................................................p. 11 Frye Electric...............................................................................p. 3 Gold Seal Termite and Pest Company.................Inside Back Cover Harding Group...........................................................................p. 7 Holt Construction Group..........................................................p. 20 Jetz Service Co., INC.................................................................p. 17 VMintegrated...........................................................................p. 13 ProTow.......................................................................................p. 4 Rays Trash Service...................................................................p. 28 Reis Reports............................................................................p. 24 Rent Paid.................................................................................p. 26 Scotts......................................................................................p. 21 VanRooy Restoration................................................................p. 9 POSTMASTER: Send address changes to: Indiana Apartment Association, 9100 Keystone Crossing, Ste. 725, Indianapolis, IN 46240, Phone (317) 816-8900, Fax (317) -816-8911. Presorted standard at Indianapolis, IN. The views herein are those of the writers and advertisers and do not necessarily reflect those of the magazine’s management or ownership. IAA welcomes stories, art and photo contributions. All such material must be accompanied by a self-addressed, stamped envelope or it will not be returned. 2 INSites January/February 2015 www.iaaonline.net from the IAA President IAA Moving Full Speed Ahead Lynne Petersen, CAE IAA President As 2015 gets off to a roaring start, IAA has many opportunities to continue our success that we have achieved. 2014 was a banner year for membership with IAA adding over 9,000 units to our membership. We saw success in our legislative efforts by convincing state legislators that there needed to be a cap on registration fees, so they are now limited to $5 per property. We were also successful in getting legislation passed that allows for an opt-out provision for properties that can produce an inspection report from a qualified inspector. The Midwest Multifamily Conference & Exposition was also a huge success as we increased attendance as well as the number of companies that participated in the exposition. It takes dedicated leaders who volunteer their time to gain these accomplishments. I would like to thank the 2014 Board of Directors as well as the committee chairpersons for a successful 2014. The IAA Board of Directors invests countless hours of valuable time ensuring the success of the association. The committee volunteers also share their expertise and talents to help plan and promote the many events and programs that IAA holds throughout the year. 4 INSites January/February 2015 Our industry is at an all-time high and the surge of multifamily building in Indiana and throughout the country has put a spot light on our industry. This opens up many opportunities but also opens up additional challenges from regulators and other industries looking to capitalize on our success. I am excited to be a part of this industry and looking forward to spreading the good news about our success. Many thanks to the National Apartment Association for commissioning a report from Stephen S. Fuller at George Mason University’s Center for Regional Analysis. The report, which will be released in March, will cover economic impact of new apartment construction, existing apartment operations and apartment resident spending activity on the national and state level as well as 40 major metro areas. Indianapolis will be included in this report. This economic impact report will greatly help with our advocacy efforts as well as the overall promotion of the apartment industry and the many job opportunities available within the industry. IAA will be working to reach media in the state with the information beginning on March 10, so stay tuned. www.iaaonline.net from the IAA Chairman of the Board Covering all the bases with a packed calendar I am especially pleased to serve as your IAA Chairman this year. As IAA continues to grow, we’re taking on new challenges and building on opportunities to further the multifamily industry. I’m excited to work with our members as we continue to advance the industry. It was great to see the combined energy of all the committee chairs when they first met in January and as I look over the packed calendar of events I know their work will pay off this year. I know firsthand how valuable it is to be fully engaged and involved and I thank all of those who play a role in committee work. I’ve been on the IAA board since 2003. Leading up to my service on the board of directors, I served on almost every committee at some point including chairing the trade show committee for 11 years. I began my career in property management as a leasing agent after graduating from Ball State and worked my way up the corporate ladder to my current position as director of property management for Englert Management Corporation. The importance of networking has become clear to me throughout my career. In many ways, an association exists to facilitate networking. You just can’t underestimate the value of meeting people and developing professional relationships. And it’s not just attending events – the professional development opportunities that come with IAA’s education calendar compliment your networking opportunities because when you’re working toward a certification or getting updated through “just in time” training, you’re meeting others who share similar goals and have shared experiences. With development of our new membership tiers we will be increasing the visibility of associate members who want to be able to choose their level of involvement and exposure. These new levels offer new networking opportunities with decision makers in the multifamily industry. Sandy Carmin IAA Chairman of the Board I hope you are taking advantage of the many programs, events and networking opportunities that IAA offers. I look forward to seeing you at IAA events throughout the year. Maintenance Appreciation and Maintenance Mania Set for April 22 It’s been a long winter and our maintenance teams deserve some recognition for their hard work and dedication to the residents and communities that they serve. First there’s the Maintenance Appreciate Kickoff in March and then the Maintenance Appreciation Day and Maintenance Mania at the end of April. Join us to recognize all of the committed maintenance professionals in our industry! If you feel like some friendly competition, then compete in the 2015 Maintenance mania games. If the games aren’t for you, Maintenance Appreciation Day will also offer education seminars, lunch and an opportunity to see new products and services from vendors that are maintenance focused. Maintenance Mania participants compete in seven skill-based timed events and a racecar competition where each participant makes a pinewood derby car out of maintenance materials. These table games are built around common maintenance activities. The 2015 NAA Maintenance Mania National Championship will be held June www.iaaonline.net 26, 2015 in Las Vegas as part of the NAA Education Conference & Exposition. Maintenance Appreciation is designed to bestow accolades on those who typically have the most Nick Jewell and Joshua Jones, Maintenance strenuous jobs and whose Technicians from Madison Village participated in the 2014 Maintenance Mania Event. work is often a key factor in whether residents enjoy their homes and renew their lease. This year during Maintenance Appreciation Day, in addition to the maintenance mania game awards, there will be a wide variety of maintenance industry awards. Awards will be presented during a social hour where management company representatives will help honor and support the maintenance professionals whose hard work is so appreciated every day. For registration and more information visit iaaonline.net. January/February 2015 INSites 5 The IMFHPAC is IAA’s nonpartisan political action committee that invests in candidates who are supportive of industry issues and are pro-business legislators. These funds aid in the election of candidates whose legislative voting records and/or positions on multifamily issues will enhance the business climate in the state of Indiana. CONTRIBUTOR LIST* Platinum Investors ($1.50 per unit) Metro Real Estate Gold Investors ($1.00-$1.49 per unit) 3 Point Property Management Morgan Management LLC Samaritan Companies Arnel, Inc. Neil A. Burd Dominion Realty, Inc. Banner Property Management, LLC Novogroder Companies Inc Core Redevelopment LLC Brad Nash Oxford Gables Birge & Held Asset Management, LLC Brookside Properties Inc. Paramount Management, Inc. Becovic Management Group of Indiana Cagan Mgmt Group Pearl Group Properties Carnegie Companies Robert Hoopingarner Silver Investors ($.50-$.99 per unit) Carr Property Group Shamrock Property Management LLC Andover Management Corp./ In Good Company Chronister Properties Sheehan Property Management, Inc. Mark III Mgmt. Corp. Cityscape Residential, LLC Tikijian Properties Metropolitan/Collegiate Housing Services, Inc. Consolidated Property Management Tom Hoot Rentals O’Neil Property Management Coomer Seedling, LLC Trafalgar Pointe Associates, LLC Pedcor Management Corporation Crest Management Trillium Properties, LLC Regency Windsor Management Inc. Eighteen Capital Group Twin Lakes Apartments, LLC Emmert Property Management Urbahns Group an Indianapolis Co. Booster Club (Associate Member Investors) Englert Management Corp. Van Rooy Properties AAPCO Midwest Feichter, Realtors Waterford Enterprises Apex Paving and Excavating, Inc. GT Properties Whitney Management Corp. Carpetbaggers, Inc. Hills Property Management Willow Point CRG Residential J C Hart Company, Inc. Zender Family Limited Partnership Indianapolis Signworks John & Stacy Hayes Jetz Service Company, Inc. JVM Realty Corporation John P. Whelan Agency Kramer Lumber Company Kaba Access & Data Systems Americas Lakeside Residences National Tenant Network - Indiana LI Combs & Sons Management Co. Roto Rooter Plumbing, Inc. Maple Crest Realty Corp. 6 INSites January/February 2015 *As of January 31, 2015 Van Rooy Restoration www.iaaonline.net Get Congress’ Attention at the 2015 NAA Capitol Conference How does the apartment industry get Congress’s attention? Connect with NAA With members like YOU attending the 2015 Capitol Conference on March 17–18 in Washington, D.C. By being a part of NAA’s annual advocacy and fly-in, attendees will gain knowledge on policy issues from speakers such as Former “Meet the Press” Host David Gregory. Then be briefed on the industry’s key issues before embarking on the Capitol Hill to educate old and new members of Congress alike on the importance of apartments in addressing American’s housing needs. Whether you attend the Capitol Conference every March or have never participated Tom Beaton before, this is your year to attend. In 2015 Chairman addition to David Gregory, don’t miss out on: • Kickoff Speaker Platon, the worldrenowned, award-winning photographer; • Six education sessions to hone your advocacy skills; • Issues message training to help you prepare for your day on Capitol Hill; and, • Our exciting new venue at the JW Marriott! Visit the 2015 NAA Capitol Conference website at http://capitol-naa. naahq.org for more information. Register now and, as One Industry with One Voice, champion policies for the betterment of our industry. *2015 NAA Spring Governance Meetings will take place prior to the 2015 NAA Capitol Conference Four Reasons to Connect, Learn and Grow at the 2015 NAA Education Conference & Exposition The 2015 NAA Education Conference & Exposition, June 24-27 at the Mandalay Bay Resort & Convention Center in Las Vegas, is the premier destination for rental housing professionals seeking to “Connect, Learn and Grow” in their personal and professional lives. Need a reason to attend? How about four? 1. Networking and idea exchange with like-minded professionals. More than 8,000 fellow rental housing professionals will be meeting, greeting and exchanging ideas on the issues you encounter every day. Not only will your peers be in attendance, you’ll also have the opportunity to interact with some of the biggest names in the multifamily housing marketplace. 2. With general and breakout sessions, the level of education at the NAA Education Conference & Exposition is unparalleled and best in class. Specifically crafted with the audience in mind, attendees will be engaged, entertained and educated, leaving the conference with tactical insight designed to create an edge in their market and increase their revenue streams. (Check out the entire lineup at http://educonf. naahq.org/learn/) 3. Take a break from class and visit with leading-edge suppliers in the rental-housing marketplace. With more than 400 companies demonstrating the latest and greatest in technology, products and services, attendees will be streamlining operations quicker than you can say, “Where do I sign-up?” 8 INSites January/February 2015 4. And speaking of entertainment, the hardest-working man in show business, Jay Leno, is the Opening Keynote Speaker. NAA’s reputation of bringing to the stage the biggest names in business and entertainment continues this Emmy Award-winning late-night TV host, best-selling children’s book author and pioneering car builder and philanthropist, set to take the stage on Thursday, June 25 from 12:45 p.m. to 2:15 p.m. Fortunately, registration is just a click away. Register prior to February 2nd to take advantage of the early bird rate and keep checking the 2015 NAA Education Conference & Exposition website for schedule, housing and the latest announcements. Boston real estate professional Tom Beaton, CPM, The Dolben Company, has begun his term as 2015 National Apartment Association (NAA) Chairman of the Board. Beaton has over 30 years’ experience as an apartment industry professional, and currently serves as Senior Vice President, Management, for The Dolben Company. He is responsible for overseeing the operations of the management portfolio, which consists of more than 12,500 multifamily housing units in the Northeast and Mid-Atlantic. Among his goals as 2015 Chairman of the Board, Beaton aims to increase NAA’s membership. “It has to be the top priority because it all revolves around membership,” Beaton says. “Our members strengthen our legislative voice and create additional NAA Education Institute (NAAEI) educational opportunities.” RMPcareers.org launched in February In conjunction with RPM Careers Month in February, the National Apartment Association Education Institute (NAAEI) launched RPMcareers.org. This new website is designed to attract qualified candidates to the multifamily industry while celebrating the industry and showcased its talented people and many career benefits. The residential property management (RPM) industry is booming and job opportunities are growing — fast. That’s why RPMcareers.org was created. Quality candidates need to be educated about exciting career opportunities. NAAEI seeks to raise awareness of the industry and our happy employees, and to encourage hiring personnel to bring on new employees with a variety of experiences, including people changing careers, college students, and members of the military community. Post your jobs at iaaonline.net Remember that as a member benefit you can post job openings on the IAA website. Just click on BENEFITS and scroll down POST A NEW JOB when you visit the site. www.iaaonline.net IAA monitoring important legislation The 119th General Assembly is in full swing and lawmakers have been busy debating many of the more than 1,200 bills filed. Since it is an odd-numbered year lawmakers do have a duty to approve a budget bill which appropriates funding for the state over the next two fiscal years. Lawmakers have until April 29 to finish considering legislation and adjourn. In addition to bills that were filed there are also a number of opportunities to amend similar topics into legislation moving through the process. For example, IAA learned early during session that there was an attempt to restrict short-term leases (those under 29 days) to only hotels, inns and bed and breakfast establishments. This is not a joke. IAA staff talked to key members of the Senate who would likely be targeted as potential authors of such language to express concerns with restricting the use of a multifamily property and to assured them that IAA members currently remit applicable sales and innkeeper taxes for such short leases. Thankfully IAA was able to stop this attempt but expect supporters to be back in the second half of session with new language. This is just one example demonstrating the importance of being actively engaged in the legislative session and continuing to build strong relationships with legislators. IAA staff keeps membership informed of legislative activities through the weekly report and occasional call to action alerts on priority legislation. Please take time to review this important report and provide feedback. Additionally it is very important that members of the General Assembly hear from IAA members, their constituents, on key issues. Alerts are only sent a few times each session on key issues so please take several minutes to contact elected officials. To receive the weekly report and call to action alerts, please contact Gretchen White at [email protected]. IAA monitors many pieces of legislation but below are two priority bills for IAA this session. House Bill 1300 –Ordinances Related to Building and Housing Laws Author: Representative Jud McMillin (R-Brookville) Summary: This is a key priority for IAA which would prohibit local units of government from enforcing ordinances that require a landlord to participate in the otherwise voluntary Section 8 housing program. This portion is in direct response to a proposal that has been discussed in Indianapolis which would create a protected class for what is known as source of income. The impact on a protected class for rental property owners would be that you could not deny an applicant strictly because they hold a Section 8 voucher. IAA believes there is an abundant supply of affordable housing around the state and we have heard from many members that participation in the voluntary program will not work for all business models for cash flow reasons. IAA believes the language is essential to stop communities around the state from having conversations similar to those in Indianapolis which could greatly impact the industry. more details surrounding their existing function of reviewing local building and fire safety laws. Currently municipalities are the only entity allowed to submit ordinances to the Commission and there is no mandated timeframe for doing so. The legislation requires municipalities to submit their ordinances within 30 days of being adopted or a sitting member on the Commission can bring forth the language for review. There have been several recent examples of municipalities which failed to submit ordinances resulting in lawsuits that found such language could not be enforced without approval from the Commission. Legislative Update Gretchen White IAA Director of Government Affairs House Bill 1165 –Rental Registration and Inspection Programs Author: Representative Ed Soliday (R-Valparaiso) Summary: This legislation is essential in that it seeks to clarify last year’s legislation surrounding rental registration and inspection programs. The legislation capped registration fees to $5 per property annually and provided an opt-out for certain inspection programs undergoing third-party inspections. Last year while considering the legislation lawmakers approved an amendment grandfathering existing long-standing programs in Bloomington, West Lafayette and Goshen. Shortly after session one municipality filed a lawsuit asking a judge if an ordinance from the 1960s would allow them to utilize the grandfathering language. This program in particular was not intended to be grandfathered and IAA does not believe they have a valid argument but nonetheless must close any perceived loophole. The legislation would clarify the original legislative intent and ensure only those programs intended to utilize the grandfathering language are able to do so. The legislation also includes a portion dealing with the state’s Fire Prevention and Building Safety Commission to provide www.iaaonline.net January/February 2015 INSites 9 Renovations add “wow” factor to established properties The U.S. homeownership rate dropped to a 20-year low last year as Indiana has seen more and more residents seeking the many benefits of multifamily housing. While many developers offer sleek new units, those with older buildings are challenged to remain competitive, making renovations a key factor in meeting the needs of today’s market. Any unit that is not brand new still needs to be modern and attractive on both the interior and exterior, and amenity spaces must meet the needs and expectations of the current market. Properties that aren’t updated risk falling further and further behind, while those making changes attract new renters and retain renters who might otherwise have started looking at newer options down the street. “There has been a significant increase in new construction for the multifamily industry,” says Adam Rolfsen, president of VMintegrated. “With this increase, older properties are updating their units, as well as common interior areas to keep competitive in the market and appeal to the growing number of people choosing apartment living over home-ownership.” Rolfsen sees a focus on kitchens and bathroom areas that make the most impact, whether it’s a full renovation or simple updates to countertops and hardware. He says clubhouse and outdoor community areas have also been an area of focus in updates, not just cosmetic, but adding cyber cafés, outdoor grilling and open spaces for residents. “Regardless of the property, curb appeal will always be a large focus for properties ensuring the drives, siding, windows and doors and exterior painting, as well as roof, appear in good condition.” The renovation at Westminster included an all new pool and deck as well as a fitness loft where they offer weekly yoga classes. Van Rooy Properties took home the Prodigy Award for Best Renovated Units in 2014 for following a multimillion dollar renovation of Westminster Apartments in Greenwood. Originally built in the late 1960s, the property had not had any major updates, yet it was in a desirable and convenient location on the Indianapolis’ Southside. Van Rooy evaluated the deficiencies of the property and developed a plan for extensive renovations where each unit was completely gutted to achieve the equivalent of a brand-new apartment. The apartments didn’t just have a dated look before the renovation; they suffered from long-deferred maintenance and obsolete mechanical systems. Working within the original footprint, they installed new HVAC systems, hot water heaters, individual water meters, upgraded electrical services, and made substantial plumbing and drain line replacements. Leaking roofs and missing gutter systems along with broken windows and patio doors had led to mold and pest infestation problems. The renovation work included new roofs, gutters and vinyl siding, exterior painting, masonry repair, decks, air conditioners, furnaces, windows and patio doors. On the inside renovations started with new entry doors and included the installation of all new trim and door casings; new light and electrical fixtures; new kitchen cabinets, kitchen One of the new kitchen’s at Westminster Apartments. countertops, appliances, and kitchen plumbing fixtures and bath accessories; new tile tub surrounds; all new floor coverings; a two tone paint scheme; and new custom window coverings. 10 INSites January/February 2015 As part of the modernization, new appliances were placed in each unit including a washer and dryer and further meeting today’s market expectations data, cable and phone systems were upgraded to include outlets in every room for high speed internet access. The dramatic changes were carried over to common spaces and the exterior. Hallways were completely redecorated and the management offices, fitness center, business center are new, along with a new pool and tanning facilities. This extensive work gave the property a finish equivalent to a new construction project. On the exterior they added new landscaping and signage, replaced sidewalks, made parking lot improvements and added decorative exterior lighting and an all new playground. “People are really amazed with our apartments, and we are proud of them,” said Vice President of Finance and Development at Van Rooy Companies, Russ Seiler. Seiler, has been through several renovations including Eagle Lake Landing in Speedway. In taking on any property, Seiler says they assess the entire property in terms of strengths and problems from a physical aspect, then they review the surrounding market and look at what functional The new Eagle Lake Landing exterior. market properties in the area are offering. Next they decide which issues must be dealt with first and what needs to be added to out-compete the remaining market. “Renovations differ immensely from new construction in that the construction management process is a much higher maintenance process,” Seiler said. “You learn a lot about the original construction and what hundreds of maintenance technicians have done over the years, and hope to uncover more small issues than big ones. Original budgets and scopes can change dramatically from start to finish. You may find savings in one area and then complex circumstances that you didn’t anticipate crop up in another Ashford at Keystone underwent a full scale exterior in 2014. As the general contractor, CRG area. What appears to be a renovation Residential installed Hardi lap siding and trim with Hardi need may actually have a larger shake highlights on 54 buildings, including the clubhouse. scope,” Seiler explained. As an example he talked about replacing windows and patio door where you don’t know what you’ll find when you remove the doors and have to be prepared to react from both a budgeting and staffing perspective. The scope of the Ashford at Keystone renovation also Rolfsen echoed the complex included the installation of 615 windows, new deck rails nature of renovations stating and screen fencing around AC units. that many times, older properties have experienced years of smaller repairs or more general maintenance that can present many inconsistencies as they have been completed at different times with materials varying from unit to unit. “This can present many challenges that are difficult to discover without thorough investigation and exposing the hidden areas in a project. Inconsistencies make not only the www.iaaonline.net bidding difficult, but it can create issues with meeting deadlines when materials and or additional trades are needed to perform the repairs that might not have initially been evident,” he said. Even apartments less than two decades old are going through renovations to stay competitive. The Reserve at Geist was originally built in 1996 but went through a thorough renovation that started in February 2014. As the only rental community in Geist, their apartments were built with a condominium style community design catering to the niche market of renters who want to live near the marinas, Wood plank floors add a luxurious touch at River boating clubs, golf courses and Crossing at Keystone. outdoor entertainment venues, the waterway and nature preserves in the area. The new kitchens are part of Barrett & Stokely’s renovations at River Crossing at Keystone. Prior to renovations they conducted a third-party survey to get renter feedback and ensure that plans would match what residents want. Among the upgrades guided by renter feedback were the business center, movie theater, resident lounge, and granite counter tops. Based on feedback changes are likely to continue as they research more ways to add “green initiatives” to the community through recycling programs, potential new community garden spaces or adapting new technologies. Mark Andress, Construction Manager for Barrett & Stokely is working on several renovations to keep properties competitive with new construction. Most units are tackled in 30-60 days as they are renovating units when they become vacant. “I view each apartment as my own home. If I see something that’s not right or needs to be fixed, it needs to be done. We want to make sure residents are happy with our product,” Andress said. He emphasized the importance of working with designers to achieve the modern and updated look. Barrett & Stokely’s renovated units have all new finishes including wood plank floors, stainless steel appliances and new cabinets. While the paint schemes remain neutral, they gain depth with tan walls and custom trim in white. New hardware such as light fixtures and door handles in brushed nickel and stainless steel add to the custom-home look. “Our leasing office needs to be able to provide the ‘wow’ factor when they show a unit,” Andress said. “And I want to be able to say, ‘This could be my home.’” Participants in IAA’s property bus tour in May 2014 got a sneak preview of the renovations that started last spring at Ashford at Keystone. Shortly thereafter the leasing office underwent a six-month renovation resulting in a more open and inviting space that sets the tone for the community. The property has a new fitness center now and they added a business center. Throughout the property buildings have all new siding and insulation, more than 700 new windows and new landscaping. Ashford at Keystone Property Manager Chad Gilford explained shared renovation details with participants of IAA’s Property Bus tour in May 2014. “We’re having people who used to live here decide to move back,” said Leasing Specialist Ashford at Keystone’s spacious floorplans include Denise Brassie who has been dining areas and the remodeled kitchen’s feature stylish part of the new life of Ashford faux wood flooring. at Keystone. “People in the neighborhood have stopped by to say, ‘How pretty.’ One person who lived nearby sold her house and is moving in.” Brassier says she’s seen an increased sense of pride in the community since the renovations. Aside from the convenient location, one of the advantages of a renovated property, she explained, is the traditional roomy floor plan which includes a dining room and large closets. Another advantage is the mature tree cover which is an asset for the entire community and gives the renovated property an established feel. With so many upgrades, modern touches and added amenities along with a new sense of home in a renovated apartment community, Indiana renters can count even more advantages to apartment living today. www.iaaonline.net January/February 2015 INSites 11 IAA’s Legislative Lunch at the Statehouse IAA hosted its legislative lunch at the Statehouse in Indianapolis on February 12. There was a strong showing from State Senators and Representatives from districts across the state giving members of the IAA board along with several property management principles the opportunity to discuss issues impacting the multifamily industry. With IAA tracking several key pieces of legislations this year the event served as an excellent forum to share information and perspective. Top Five Drivers for Value Ball State University conducted an analysis of more than 1.6 million SatisFacts Research survey responses and found that “value” was the most important factor in terms of resident satisfaction and retention. Residents want to feel as though their money is well spent where they live. Representative Peggy Mayfield (R-Martinsville) and IAA Board Member Charles “Chuck” Townsend (Sheehan Property Management). IAA President Lynne Petersen with Representative Mike Speedy (R-Indianapolis), and Representative Sean Eberhart (R-Shelbyville). IAA Board Member, Tom Spencer (Meridian Management Corporation) with Representative Sheila Klinker (D-Lafayette) and State Auditor Suzanne Crouch (R-Evansville). Representative Cindy Ziemke (R-Batesville) with Representative Jim Lucas (R-Seymour), Representative Lloyd Arnold (R-Huntingburg) and Representative Eric Koch (R-Bedford). IAA Board Member Tom Spencer and Senator Ron Grooms (R-Jeffersonville). Representative Melanie Wright (D-Yorktown) and Gavin Greene (Flaherty & Collins Properties). Representative Chuck Moseley (D-Portage) with IAA Board Member George Tikijian, and Hannah Ott of (Tikijian Associates). IAA Board Member, Tom Spencer (Meridian Management Corporation); Representative Mike Karickhoff (R-Kokomo); Representative Tom Dermody (R-LaPorte) and Representative Jim Baird (R-Greencastle). Representative Tim Harman (R-Bourbon) with Representative Dave Wolkins (R-Winona Lake), Representative Doug Miller (R-Elkhart), Representative Julie Olthoff (R-Merrillville), Representative Wes Culver (R-Goshen)and Representative Dale DeVon (R-Granger). IAA Chairman Sandy Carmin (Englert Management Corporation) with Senator Mark Messmer (R-Jasper) and Kathryn Merritt-Thrasher and Megan Anthony from Landman & Beatty. Several individual factors contribute to a resident’s overall perception of value and the top five, in order of importance) are: 1. Sense of Community – This topic has little to do with neighbor to neighbor relations. Residents want to be connected to the management team. They want to be the VIPS and know the team is looking out for them. 2. Apartment Appearance and Condition Residents are living longer than ever before in their apartment homes and must have full access to everything they pay for and need to be completely comfortable. 3. Building Exterior Appearance and Condition Residents want to be proud of where they live. While they are out and about around the community do they like what they see or are there eyesores at every turn? 4. S afety & Security – Although teams can never promise or guarantee a resident’s safety, if residents do not feel safe, they may decide to move. Screening all applicants, resolving noise complaints, unauthorized occupants and pets, and making sure controlled access features around the community are in working order are some things management teams should manage effectively. 5. Office Responsiveness and Dependability The response window for calls/emails has shortened from same day to two hours. Having ready answers and speedy resolutions can positively impact a resident’s perception of value. 12 INSites January/February 2015 www.iaaonline.net New Officers and Board Members in 2015 Mark Juleen, IAA Secretary IAA welcomes two new officers to the 2015 IAA Board of Directors led by Chairman Sandy Carmin of Englert Management Corporation. Brian Cranor, founder and managing partner of Cityscape Residential LLC serves as treasurer this year. Mark Juleen, vice president of marketing for J. C. Hart Company, who joined the board in 2012, now serves as secretary. Chad Greiwe Gene B. Glick Company is serving as vice chairman after serving as treasurer in 2014. Two members who are new to the board this year are Michael Humphrey, Owner and CEO of AMP Residential and Joe Whitsett, CEO of TWG Management. Brian Cranor, IAA Treasurer IAA’s Reverse Trade Show Thursday, April 30, 2015 4:00 to 7:00 p.m. Hyatt Regency Indianapolis One South Capitol Avenue Don’t miss IAA’s Sixth Annual Reverse Trade Show on April 30, 2015. This event raises money for the National Apartment Association Political Action Committee while giving vendors the opportunity to have immediate contact with buyers from management companies representing more than 95,000 units across the state. This is a fast-paced, highly effective networking event and is a fantastic opportunity to meet with decision makers. While the proceeds from the event benefit the National Apartment Association Political Action Committee, a portion of the money will come back to the Indiana Multi Family Housing Political Action Committee to spend on Indiana Members of Congress. To register call IAA at 317.816.8900. The 2014 Reverse Trade Show www.iaaonline.net January/February 2015 INSites 13 Guided by volunteers “Service to others is the rent you pay for your room here on Earth.” – Muhammad Ali IAA’s committed volunteers have many things in common but the most obvious is their desire to help others in the industry connect and take advantage of the many benefits offered by IAA. Our committee chairs take on the task of coordinating committee efforts to achieve results throughout the year. Those leaders who volunteer as committee chairs help IAA enhance networking, education and growth opportunities as well as advocate on behalf of Indiana’s multifamily housing network. As IAA encourages the “Members buy from Members” philosophy, committee involvement helps build relationships and facilitate business relationships with associate members. Networking extends to all industry professionals with members constantly building relationships and learning from others. Thank you to all of our IAA volunteers! Committee Volunteers Guide IAA 2015 Committee Chairs Denise was a Grace McFadden Manager of the Year in 2009 and she has been in the industry for 16 years. Her involvement with IAA started with when she enrolled in the CAM program and attended convention. Denise has served on several committees including Convention, Education, YPM and Events and has served as an ambassador for convention. She praises the great networking opportunities as a way to meet people in the industry in both formal and informal settings. “IAA provides an excellent way to promote professional growth and stay apprised of what is happening in our industry,” she said. Hannah was recently named a partner in the firm of Tikijian Associates where she had previously served as Senior Managing Director. She began her career as a commercial real estate broker in 2001 in South Florida where she sold multifamily and other commercial properties before becoming involved in multifamily brokerage and advisory. This will be Hannah’s fifth year with the Membership Ambassador Committee and she says she stays involved because IAA offers strong legislative involvement and numerous education opportunities. Professional Development Committee Committee Chair: Angie Atkins, Director of Property Management, Birge & Held Asset Management Committee Chair: Amanda Warren, District Manager, Buckingham Companies Ambassador Committee Committee Chair: Denise Haggard, Regional Manager for Herman and Kittle Properties Committee Chair: Hannah Ott, Partner with Tikijian Associates With Denise and Hannah at the helm, the Ambassador Committee will be an active Denise Haggard committee focused on retaining members and increasing overall membership. This committee meets four times a year and contacts current members for feedback on programs and activities as well as reaches out to potential new members to expand overall membership. This committee also volunteers at IAA events as ambassadors to support and accustom new IAA members. Hannah Ott Denise advises members to put themselves out there, become involved and have a voice. 14 INSites January/February 2015 Angie Atkins With education as a key to success, members of the Professional Development Committee assist in determining education topics, speakers and facilities for seminars and Power Lunches. Angie explains that this includes developing a list of qualified speakers who are willing to teach and determining best practices to increase registration numbers and monitor class topics. Amanda adds that goals for 2015 include keeping programs fresh, trying new things and applying new perspectives to reach different leadership roles and personalities. She feels it is important to “make sure current education programs are well received, that objectives of Amanda Warren www.iaaonline.net Guided by volunteers the attendees are met and that the course content is relevant to the training and development needs described by our members.” As a past committee chair for the FUN Committee and Education committee and a member of the Convention committee, Angie brings a wealth of experience to this committee. She notes that networking, brainstorming with peers and having a voice in the direction of the association further motivates her involvement. Angie first became involved with IAA when she took a CAPS course taught by Alex Jackiw. She has been in the multifamily industry since 1999 and says she has had many colleagues who have been great role models for volunteering and learning from the vast experience and talent of other IAA members is a formidable benefit to being involved. Amanda is passionate about having IAA resources for education and development. She started taking classes and attending events and initially joined the Education Committee by contacting the IAA staff. She has since been a volunteer for the YPM Committee and has volunteered with SAL. Amanda advises members to get involved and see what IAA is all about. “It will result in lifelong learning, mentorship and huge networking resources,” she said. Mania and MESH as well as seminars and education opportunities throughout the year. Danny feels that having a committee chair who is in the maintenance field is especially valuable in gathering feedback from other members in what they would like to see as benefits from IAA. As he encourages others to become more involved he points out another advantage, “Getting involved helps you make contacts for your vendors or find new vendors.” Danny has been in the multifamily industry for 17 years. Danny first got involved with IAA through social events when he was new to the industry. He is inspired to continue volunteering because he feels that when more maintenance team members see him helping out they will become more involved. Over the years he’s been involved with several committees including Convention, Maintenance Mania, FUN and YPM. He’s also co-taught CAMT and helped with recruiting IAA members. “I think volunteering has helped me become a better public speaker, pushing my career to the next level,” Danny said. Legislative Committee Committee Chair: Chad Greiwe, Executive Vice President of Operations for Gene B. Glick Company Committee Chair: Jill Herron, Vice President of Property and Asset Management for Flaherty & Collins PAC Golf Committee Committee Chair: Alycen Williams, Regional Property Manager with Edward Rose & Sons The PAC Golf Committee plans to change things up and plan a memorable event that doesn’t simply mimic the previous year. Alycen Williams An added benefit of committee work is networking! “I have built some amazing relationships through IAA and some great, lasting friendships. It has also helped bring together competing communities to work together,” Alycen said. Alycen has been in the multifamily industry for 10 years. She has volunteered at the golf outing, convention and Maintenance Mania and says the biggest advantage of volunteering has been relationship building with other industry professionals. She also says she likes to volunteer and help raise money because she knows the cause is important. The money raised from IAA’s PAC Golf Classic goes to the Indiana Multi Housing Political Action Committee, the legislative arm of the organization. Her employer encourages networking and having fun while giving back to IAA and she credits Edward Rose and her immediate supervisors for encouraging her to get involved. Maintenance Planning Committee Committee Chair: Daniel Dugger, Director of Maintenance Procurement and Education for J. C. Hart Company Daniel Dugger www.iaaonline.net The Maintenance Planning Committee will work to build a strong presence for all maintenance events including Maintenance Chad Greiwe As co-chairs Chad and Jill will work to develop strategies and actions to be taken on legislative issues. “The value of committee work is that committees execute all of the initiatives of the association,” Chad said. “The committees move the association forward by making decisions and supporting the direction of the association.” Their committee goals are to review proposed legislation and give staff guidance on how the proposals affect the industry. The committee also helps disseminate legislative alerts within the companies and encourages people to contact their legislator in response to the call to action. They will guide IAA in working with legislators in order to stream line legislation which could negatively impact our communities. Jill Herron Chad began his career in public accounting but has now been in the multifamily industry for seven years. He first got involved with IAA through working on the Executive and Finance Committee and has served as both secretary and treasurer of the IAA board of directors. The very first IAA event he attended was a Prodigy Awards dinner. He looked forward to networking opportunities and was inspired to get involved by Glick’s Senior Vice President, Linda Orange. Added benefits that he sees through IAA include continuing education and the opportunity to represent his company. His advice to members is to “get involved because you will learn something at each and every event and you will grow your network of peers in the industry who will become career-long resources.” Jill’s focus on the committee is not only the state legislative interests, but she is also heavily involved in the Indianapolis area January/February 2015 INSites 15 Guided by volunteers Crime Watch and meets with local crime watch coordinators to help with crime issues in apartments around the city. Jill has been involved in every aspect of professional property management over the past 25 years, including lease-up and stabilization. The people who have most influenced her career are Kathleen Rorris and Jerry Collins. She started attending IAA functions when she was 18 years old and could not believe how much she could learn while listening to the speakers—all functions with volunteer input behind them. Jill thinks it’s important to volunteer on committees because it helps create wonderful relationships and directly impacts the decisions that affect the industry. She encourages members to get involved by joining committees and to start early. “The YPM group is a great way to get your foot in the door for IAA,” she said. Jill now leads training classes and programs and also volunteers throughout the community. 2015 Convention Committee Young Professionals in Multifamily (YPM) Committee Chair: Gavin Greene, Regional Property Manager for Flaherty & Collins Gavin Greene Convention Committe Chair Jaimie Maple with Angie Atkins and Amanda Warren who cochair the Professional Development Committee. Convention Committee Committee Chair: Jaimie Maple, Director of Purchasing for Buckingham Companies Jaimie will lead Convention Committee with a goal to exceed the previous records for Midwest Multifamily Conference for attendance, participation and fun! Under Gavin’s leadership the YPM Committee will continue efforts to increase participation within the industry. He also seeks to connect young professionals with industry leaders such as Jerry Collins, Adam Van Rooy, and Mike Gorman. “These leaders show how important networking and building strong relationships with each other can help strengthen our business,” Gavin said. Gavin oversees the daily operations of five apartment communities in the Muncie area. He has been part of all five lease-ups and he and his staff maintain a 98% occupancy rate between all the communities. He joined the multifamily industry in 2005 and has been active in the Muncie Housing Authority and Unsafe Housing Authority Board. He serves as Vice President of the Muncie Redevelopment Commission and is a former at-large candidate for the Muncie City Council and a member of Emcom ECI. He has worked in the multifamily industry for 15 years and first got involved with IAA when he attended the PAC Golf Classic. He loved this event and then volunteered for the Membership Committee, now called the Ambassador Committee. He has also served on the Convention Committee. His inspiration to continue involvement comes from seeing other members who are committed to the association. “David Creek, Kim Hurd and Alex Jackiw inspired me to become an active member of IAA,” Jaimie said. “They have given countless hours and have promoted our industry at many levels,” Jaimie said. He touts the benefits of volunteering as, “getting to meet new people in the industry, expanding his industry network and helping promote the awesome benefits of IAA and letting everyone know that our IAA staff are the best in the industry.” 2015 YPM Committee 16 INSites January/February 2015 www.iaaonline.net Guided by volunteers Events Committee Committee Chair: Jenny Richard, Regional Property Manager for Gene B. Glick Company Focusing on gathering new ideas, the Event Committee seeks to increase attendance and increase volunteer involvement by Jenny Richard ensuring they share ideas and spread the word about opportunities. Jenny strongly encourages industry professionals to join and enhance their knowledge and their employees’ knowledge base to improve their business. She also encourages vendors to participate to gain access to business leaders and decision makers and to have an opportunity to network at all levels. Now a veteran of 18 years in the multifamily industry, Jenny first attended an IAA seminar about 15 years ago and then joined the Education committee. She also attended a FUN meeting around the same time and has since served on the FUN Committee, has attended YPM events and was an ambassador for the 2014 Midwest Multifamily Conference. Her recent decision to volunteer with IAA was inspired by IAA’s Director of Events and Expositions, Lauren O’Neill. “I participated by including one of my communities in the Property Bus Tour and met Lauren. She followed up with me and encouraged me to join.” www.iaaonline.net Meeting new people, networking and collecting new ideas are all values Jenny associates with her involvement in IAA. She wants to help her committee continue to bring fresh ideas to the events for all participants to enjoy. “Committee work allows industry members to be current with education and allows them to network with vendors and other industry professionals to continue to enhance their business.” 2015 Events Committee January/February 2015 INSites 17 Around the Apartment Association of Fort Wayne Community-Minded Association on a Giving Spree The Apartment Association of Fort WayneNE Indiana (AAFW) proudly serves our community throughout the year. This past giving season was no exception! As a way to continue supporting the local community, AAFW recently made donations to the Salvation Army, DeKalb Community Impact Corporation, and Charis House. State Lottery Ticket winners from the January Breakfast Connection. AAFW’s Community Outreach Committee and Members donated over 500 items to the Salvation Army’s Tools for School. The Tools for School program provides basic supplies for families who cannot afford them. Students in grades K-12 received supplies such as book bags, notebooks, and pencils. AAFW members gathered donations of cash, blankets, and over 100 stuffed animals for the DeKalb Community Impact Corporation’s Covered with Love program. Covered with Love provides care packages for children who have been removed from their homes due to drug abuse. These care packages include basic hygiene products, as well as items to help comfort them through a crisis. AAFW Members also donated over 100 pairs of flip flops to long-time partner, Charis House, who provides restorative programs to homeless women and children in our community. Such Rescue Mission ministries often need flip flops for shower shoes. Each year, the Apartment Association of Fort Wayne-NE Indiana supports a few local non-profit organizations in various ways and takes pride in partnering with organizations that benefit the rental community. To this end, AAFW’s Outreach Committee continues to expand their partnerships with area non-profit organizations and will announce additional service projects in the coming weeks. Membership Growth Fort Wayne, Ind. – The Apartment Association of Fort Wayne-NE Indiana (AAFW) welcomes the addition of eleven companies that have recently joined the Association. These new members are a testament to a dynamic Association and the services they provide our region. Regular Members include Villa Capri, Maplecrest, Atrium Village, Northcrest Gardens Clover Investments. Associate Members include Edge Industrial Supply, Fast Signs Ideal Office Source, Wayne Pipe Supply, Office Concepts, Brigadoon Fitness Getting Fit in the Fort – January Breakfast Connection Recap The January Breakfast Connection topic was “Getting Fit in the Fort”. The Fort Wayne community is lucky to have several organizations that are helping people in the Fort Wayne area live a healthier lifestyle. Operation F4: Fight for a Fitter Fort and Fort For Fitness were the featured speakers at the event. Chris Blake and Ted Sobol with Operation F4 shared how their new organization is helping Fort 18 INSites January/February 2015 Wayne become a healthier, happier community. Their mission is to help Fort Wayne residents lose 500,000 pounds by 2016. Brad Kimmel, Executive Direction, shared the mission behind Fort For Fitness and the impact they have had on the community through their health imitative including biking, walking and running events held since 2007. Members at the Ash Centre for the January Breakfast Connection. Summit Celebration winners to be announced on February 21 AAFW members are anxiously awaiting the announcement of the 2014 Summit Celebration winners. The event will be held at a new venue this year, Baker Street Station. The station was opened in March 1914 as a fully-functioning train station; however, it was closed to rail service in the late 1980’s. Visiting a historic Fort Wayne site and learning of the winners are sure to bring excitement to the dull days of winter. The Community Outreach Committee will be presenting their donation checks to our 2014 charities, DCIC (DeKalb Community Impact Corporation) and Genesis Outreach. CAM being held in Fort Wayne The AAFW-NEI is excited to have Kim Hurd, Milhaus Management, teaching our NAA designation course, Certified Apartment Manager, CAM. Watch for our list of CAM candidates in an upcoming issue. Upcoming Education Courses March 17: Managing Conflict & Negotiating with Confidence March 26: Water Heaters & Plumbing Repair April 22: Fire, Mold, & More April 29: Fair Housing May 7: The WOW Factor Want to Register? Visit www.aafw.org and register online! Apartment Owners & Managers Association of Terre Haute On January 15 Judge Christopher Newton administered the Oath of Office to Amanda Corey (Heritage Trail Apartments) to serve as the chapter’s Secretary/Treasurer, Melissa Wrightsman (Cornerstone Property Services) as the Vice President, and Joe Huber (Huber Properties) as the President. Each newly elected officer has agreed to serve for a period of one year. The Terre Haute chapter includes more than twenty members, each with management responsibilities of rental housing for more than 2600 rental dwellings, from efficiency apartments to seven bedroom houses. Through their efforts they assure that all members are in compliance with the rules and regulations that provide the tenants Apartment Owners and Managers Terre Haute. with the highest standards www.iaaonline.net of occupancy to include accessibility, health, habitability, safety, and affordability. The newly elected officers serve at the pleasure of the Board of Directors which includes Jim Creasy (Republic Services), Isaac Ford (Wabash Valley Pest Management), Frank Hoxworth (Lowes Home Improvement), Mark Huffman (State Farm Ins.), Craig Ketner (Ketner Electric), Chad Moore (TH Housing Authority ), Michele Strohm (Cornerstone Properties), John Robinson (Robinson Properties), and Brenda Valle (Newlin-Johnson). Yvonne Avary (Pfister & Co Inc.) with her assistant Dee Ann Boyd (Pfister & Co Inc.) perform the Executive Director’s duties. Membership to the local chapter is limited to those individuals and firms that are willing to adhere to the highest standards of the Indiana Apartment Association and the local chapter in their effort to provide residents with the best housing. Apartment Association of Southern Indiana AASI hosted a Meth & Crime Prevention Seminar following a networking breakfast. Evansville Police Department Officers Eric Krogman and Kevin Corbin covered the following issues: • Methamphetamine lab recognition and safety concerns • Narcotics and narcotics paraphernalia identification • Gang information and warning signs The AASI Convention and Trade show will be held March 12 at the Tropicana Evansville. Education Seminars will include: • Jerry Norman – There’s No App For That • Pam Roberts – Being a Team Player • Jill Herron – Disaster Preparedness • Julie Doss – Bridging Generational Gaps • Gavin Greene – Customer Service & Time Management for Maintenance Services, providing housing and case management for women suffering from addiction. • An Emergency Response Volunteer (ERV) program, where staff and volunteers assist victims of rape and violence through the initial stages of trauma at a hospital or clinic. • Community educational programming on domestic violence and sexual assault, teen dating violence, and workplace violence. • All services are confidential and free of charge. Around the State Tippecanoe Apartment Association The Stir, a new way to network, was held by the Tippecanoe Apartment Association on January 17. This event features great food, and plenty of opportunities for apartment and associate members to mix and mingle with others in the industry. The January Stir brought more than 25 people together to share in industry stories, issues, and get new ideas for their properties or businesses! This quarterly event has given the members of the TAA a new way to get out of the office and gain new contacts in their areas. The next Stir is scheduled for April 16 at Nine Tippecanoe Apartment Association offers a new way to network with The Stir. Irish Brothers. TAA holiday party at the end of 2014. The Stir premiered on January 15. Awards will honor those in our association whom in the previous year have made significant contributions to the multi-housing industry. Northern Indiana Apartment Council Through their 2014 holiday party NIAC raised funds and support for Want to reach a BIGGER AUDIENCE? Advertise with (NIAC) A great turnout at the NIAC holiday party. New NIAC President Colleen LeRose. The Caring Place, collecting cash donations and gift cards. The Caring Place, Inc. provides service and shelter for victims of violence and their children. Through education and awareness, they empower all members of the community to live in peace. The Caring Place, Inc. provides: • Safe shelter for both women and men and their dependent children who are victims of domestic violence and sexual assault. • A Women’s Recovery Program in collaboration with Porter-Starke www.iaaonline.net Contact Jean at IAA today! [email protected] 317-816-8900 January/February 2015 INSites 19 Ground Breaking for Mixed-Use Market Square Development Flaherty & Collins Properties has announced that it will officially break ground on 360 Market Square, the 28-story, $121 million mixed-use luxury residential apartment tower on the north parcel of the former site of Market Square Arena. The development, at nearly 300 feet tall, will feature a 40,000 square foot Whole Foods Market®. An official ceremony will be held on Wednesday, February 18, 2014 at 9:00AM at the corner of Market and Alabama Streets in downtown Indianapolis. Member News City of Indianapolis Mayor Greg Ballard and City-County Councilman Vop Osili will spoke about the project at the groundbreaking when Flaherty & Collins Properties unveiled the name and logo of the development. “We have finalized the financial aspects of the project and are thrilled to break ground on what will be one of the finest mixed-use high rise multifamily towers in the country,” says David Flaherty, CEO of Flaherty & Collins Properties. “This project means a great deal to 360 West Market. the future residents of downtown Indianapolis and the vision for a walkable, bikeable and connected downtown. We are excited to get started.” Tikijian Associates Announces New Partner – Hannah Ott, CCIM Tikijian Associates is pleased to announce that Hannah Ott is now a partner in the firm. Hannah joined Tikijian Associates in 2008 and in 2011 earned the title of Senior Managing Director based on significant business development, revenue generation and overall leadership. In her seven-year tenure with Tikijian Associates Hannah has continuously strived to add value to the firm and its extensive list of clients. Hannah has been active in commercial real estate for more than fifteen years. Hannah Ott Tikijian Associates was founded in 2005 by George Tikijian, a thirtyyear veteran of multifamily brokerage, The firm will celebrate its ten year anniversary in March of this year. Since its founding, Tikijian Associates has led the Indiana apartment market in both total number of sales and total dollar volume. The firm prides itself in offering a superior team approach to its clients with the services of six highly skilled and experienced real estate professionals. Submit your news to [email protected]. The development consists of 292 luxury one, two and threebedroom apartment residences that will feature floor-toceiling glass, solar shades, quartz countertops in kitchens and baths, gourmet kitchens with energy efficient appliances that include side-by-side refrigerators and recessed balconies. Select units will include private terraces. Residential amenities include a Sky Terrace at the top level with gorgeous panoramic views of Downtown Indianapolis. A 5th level amenity deck will offer a resort-style heated saltwater pool with sundeck and cabanas, aqua lounge, elevated bark park with pet grooming area, Sport Court and Great Lawn, an outdoor kitchen, fireside lounge and grilling areas with a view of Monument Circle. Additionally, residents will enjoy a 24-hour, state-of-the-art fitness center, resident lounge and clubroom with billiards, wine storage, business center, Wi-Fi throughout common areas, electric car charging stations, controlled building access, garage parking, secured bike storage and bike repair shop. Concierge services will include dry cleaning and laundry drop off service. “This project will transform downtown living and add a bold new landmark to Indy’s skyline,” Mayor Greg Ballard said. “Urban residents want unique places to live, and this development delivers the type of architectural excellence that will help attract new people and companies to the thriving Market East District.” The project, at 648,561 square feet, will have an additional 2,000 square feet of retail space and a 600-space parking garage. 20 INSites January/February 2015 www.iaaonline.net Welcome to IAA’s Premium, Signature, Executive and Partner Level members Member News For 2015 IAA launched new membership opportunities to give associate members the opportunity to choose a level of involvement in IAA based on their company’s goals and objectives in the multifamily housing industry. We want to welcome our members who are taking advantage of this exciting new opportunity as of February 8. Premier Level: RentPaid LLC Signature Level: Holt Construction Group Gold Seal Termite & Pest Control Ray’s Trash Executive Level: Eye 4 Group Hays + Sons Complete Restoration Partner Level: Bader Company Blakely’s Frye Electric, Inc. NWP Services Corporation Signature Supply Supply Warehouse Taft Law Zillow It’s not too late! Contact Franny Upp at 317-816-8900 or franny@ iaaonline.net for more information about how your business can gain additional member benefits and recognition through IAA. Congratulations to the Most Recent CAM and CAMT Designates Certified Apartment Manager (CAM) The onsite manager is a vital link between apartment residents and the community owners and investors. Those who have earned the CAM designation can increase their community’s Net Operating Income, improve financial management skills, improve the ability to report financial performance and improve management of the onsite team. Mary Jo Harkenrider • Leah Downie Certificate for Apartment Maintenance Technicians (CAMT) This program is designed as an introduction for new maintenance professionals or as a refresher for the veteran employee, to give these professionals the knowledge and tools necessary to run an effective maintenance program. Maintenance expenses are the single largest controllable element in any operating budget. The CAMT program is accredited by the American National Standards Institute (ANSI), a private non-profit organization that administers and coordinates the U.S. voluntary standardization and conformity assessment system. Enrique Alfonso Alarcon • Rick Gearhart • Bruno Lugo Jr. www.iaaonline.net January/February 2015 INSites 21 MEMBER Q&A Lesley Baumann Assistant Manager of the Year 2014 Lesley Baumann How did you get started in the multifamily industry? I started at Van Rooy Properties in December of 2008. I worked in retail for 10 years and thought my customer service experience would help me obtain a job in leasing. I wanted to try something new, but still use my experience in working with people. I started as a leasing agent and worked my way up to a property manager. Tell us about your first job. Where did you work? What did you learn? My first job was with Galyans Sporting Goods. I worked for that company for 10 years. I started out working as a sales associate. After college, I took a job in Louisville as a visual merchandiser for Galyans. From that job, I learned every aspect of customer service. We were trained to do anything from a cashier to a manager. What was your first thought upon learning you received the award? My first thought was complete shock! I am very grateful to have been nominated, let alone win the award. Tell us about some unique aspects of your property? Historic Marcy Village is a beautiful property that was built in 1939 on 26 acres. We have a ton of amenities including a pool, tanning bed, exercise trails, gated community and a business center. When it was first built, the luxury apartment development was the largest undertaking of its kind ever approved by the Federal Housing Administration in Indiana. We renovated the property in 2002 and updated the kitchens and baths. We also added common facilities to accommodate modern living. We offer Section 42 as well as market rates. Have you had any specific mentors or role models in the industry who you have learned from? A mentor that I learned from was my first property manager, Jenny Parkes. She taught me so much. I came into this industry not knowing anything about leasing, affordable housing, etc. I was pretty much clueless! She provided me with knowledge about Section 42. Section 42 compliance is a huge part of my job. I am forever grateful to Jenny for guiding me through the years. What do you value most about your career in the multifamily industry? The thing I value most about my career in the multifamily industry is the fact that I get to work with people. I love talking to people and getting to know the residents. I like the fact that I learn something new on a daily basis in this forever changing industry. IAA’s INSites magazine earns 2014 STAR Award of Excellence The Indiana Society of Association Executive’s 13th Annual STAR Awards event in December included more than 280 association professionals and their guests who gathered from around the state at the Scottish Rite Cathedral to celebrate the accomplishments of the association management profession and its professionals. IAA was honored with a 2014 Award of Excellence for INSites as Outstanding Magazine. 22 INSites January/February 2015 www.iaaonline.net march 4 New Member Orientation 5 Maintenance Appreciation Kickoff 17 CAM C – Human Resource Management 19-20 NALP 24Disaster Preparedness: Jeffersonville 31 CAM D – Fair Housing 31 Young Professionals in Multifamily (YPM) april Save the Dates! The 2015 Power Lunch series is a great opportunity for networking and building business connections. Watch for details on the educational and motivational presentations that will accompany each Power Lunch in 2015. Wednesday, April 8 Tuesday, August 11 Thursday, November 12 Visit iaaonline.net for details. www.iaaonline.net 8 Power Lunch 9Disaster Preparedness: Bloomington 9 CFC/EPA 14 CAM E – Marketing & CAM I Research 15 Fair Housing w/ Nadeen Green 16 Pool Review Class 22 Maintenance Mania 28 CAM F – Property Maintenance for Managers 30 Reverse Trade Show may 3:30 p.m. – 5 p.m. 4 p.m. – 7 p.m. 9 a.m. – 3:30 p.m. 9 a.m. – 5 p.m. 9 a.m. – 12 p.m. 9 a.m. – 3:30 p.m. 6 p.m. – 9 p.m. 11:30 a.m. – 1 p.m. 9 a.m. – Noon 8 a.m. – 3 p.m. 9 a.m. – 3:30 p.m. 9 a.m. – Noon 9 a.m. – Noon 8 a.m. – 5 p.m. 9 a.m. – 3:30 p.m. 5 p.m. – 7:00 p.m. Events Sign up online to register for all events and classes at 7 New Member Orientation 8 Management Panel Discussion 12 CAM G – Risk Management 14 Property Bus Tour 19Disaster Preparedness: South Bend 19 CAM H – Financial Management Upcoming 3:30 p.m. – 5 p.m. 9 a.m. – 11:30 a.m. 9 a.m. – 3:30 p.m. 9 a.m. – 4 p.m. 9 a.m. – Noon 9 a.m. – 3:30 p.m. events.iaaonline.net January/February 2015 INSites 23 NEW MEMBER PROFILES Associa OnCall Associa OnCall is a general contractor designed to service condominium, townhomes and apartments needs! With more than forty years of construction experience in the Indianapolis market, we offer a wide variety of services to our property clients. From asphalt repairs and new construction, concrete, roofing, HVAC, plumbing, there isn’t a service we can’t offer. Our services stretch beyond construction needs. Associa OnCall also provides services such as trash runs, community light checks and replacement, and other services designed to help keeping your community beautiful! Please reach out to us today to see how Associa OnCall can assist your community’s needs. FirstPerson FirstPerson is an Indianapolis-based professional advisory firm that helps employers create places where people want to work. With a team of experts in benefits, human resources, compliance and wellness, FirstPerson develops employer strategies tailored to each client’s needs, culture, and goals. FirstPerson is a locally owned private company with Indianapolis roots dating back to 1968. For more information, please visit www. firstpersonadvisors.com. HSC Pavement Maintenance HSC Pavement Maintenance, a nationwide leader in parking lot maintenance, specializes in asphalt paving, repair, sealcoating, crack sealing, line striping, and tennis courts. HSC’s priority is providing property management clients with quality workmanship and exceptional customer care above everything else. Our 43 year track record of success allows us to confidently say you won’t get a better job anywhere. Visit us at hscpavementmaintenance.com or call at 812-402-9840 SatisFacts and ApartmentRatings.com SatisFacts and ApartmentRatings.com, divisions of Internet Brands, are multifamily’s Retention and Reputation Management authorities. SatisFacts offers a suite of resident satisfaction feedback, retention and reputation management services, while ApartmentRatings.com offers the ability to respond to and manage a property’s reputation. Email Sales@SatisFacts. com or call 866.655.1490 x123. ThyssenKrupp Elevator ThyssenKrupp Elevator (TKE) is the largest elevator company in both North and South America and is the second largest world-wide. Specific to Indiana, we are the largest elevator service and maintenance provider in the State. About two years ago now TKE merged with an Indy based, family owned elevator service provider called AMCO, and since that transition the local branch office here in Indianapolis has been able to run in a very unique and exciting manner, with the practices and customer care of a small family owned company (AMCO), coupled with the resources and expertise of a Fortune 500 (ThyssenKrupp). ThyssenKrupp Elevator is backed by the unsurpassed technological and logistical resources of ThyssenKrupp AG (150,000 employees in over 60 countries), one of the most advanced corporations in the world, which positions TKE to drive industry growth, challenge the industry norms, and provided innovative elevator solutions for decades to come. Please contact us for any elevator related needs or questions you may have: [email protected] or call 317-361-5156 To refer a vendor to IAA, please contact Director of Membership & Education Franny Upp at 317-816-8900 or [email protected]. 24 INSites January/February 2015 www.iaaonline.net National Focus Millennials Prefer to Rent Than Buy Digested from “The $700,000+ mistake nearly 6 in 10 millennials may make” MarketWatch (1/22/15) Hill, Catey Nearly 60 persent of Millennials would rather rent a home than buy one, according to recent survey results. Millennial Branding and EliteDaily, the latter a Millennialcentric publication, recently released results from a 2014 survey of 1,300 millennials regarding, among other things, their consumer behavior. Not surprising, the results noted that nearly 60 percent of Millennials polled — would rather rent a home than buy one. Personal finance may be a factor, with many Millennials carrying the burden of student loans and a recession-laden job market. Another factor could be Millennials’ tendency to marry and have children later in life. Industry experts argue that, although it may seem less costly and more freeing to rent, buying a home is actually less expensive in the long run than renting one. And waiting too long to purchase a home can be costly as well, with home appreciation and rising interest rates potentially adding up. The conclusion: Millennials should see what they can afford so they can determine which is really the more cost-effective measure: renting or buying. Blackstone Group Expands Rental Business With New Property Purchase Digested from “Blackstone Said in $1.7 Billion Deal to Buy Apartments” Bloomberg (1/20/15) Yu, Hui-yong Real estate investment is once again on the rise, and Blackstone Group is continuing to get in on the action with its recent $1.7 billion purchase of 36 U.S. properties spanning from California to Boston. The properties will add about 11,000 units to Blackstone Group’s LivCor portfolio, for a total of roughly 43,000 units across 80 properties. The company is positioned to take advantage of increased rental demand through not only apartment communities, but also its substantial holdings of singlefamily homes. The Joint Center for Housing Studies at Harvard University projects that 1.3 million new households will hit the market each year from 2015 to 2020 to help feed the growing housing demand. Investor demand also should remain strong in the coming year, thanks to markedly low vacancy rates. Which Cities Have the Worst Pest Problems? Digested from “Chicago Tops List of Worst Bed Bug Cities for Third Year” NBC Chicago (1/21/15) For the third consecutive year, Chicago topped the list of bed bug cities in the United States. Pest control company Orkin recently released its top 50 cities for bed bugs, based on the number of bed bug treatments performed between January and December 2014. Chicago was follwed on the list by Detroit; Columbus, Ohio; Los Angeles; the Cleveland-Akron-Canton, Ohio area; Dallas-Fort Worth; Cincinnati; Denver; the Richmond-Petersburg, Virginia, area; and Dayton, Ohio, to round out the top 10. Dallas-Fort Worth experienced the worst increase in treatments year over year, jumping seven places, to No. 6, while bed bug business overall rose 18 percent for Orkin. Chicago areas that had infestation issues included public spaces, such as public-transit vehicles, office buildings, police and fire stations and a movie theater. Chicago also ranked high on Orkin’s 2013 rodent treatment list, in which the company proclaimed the Second City the “rattiest city” in the United States. Growing Demographic Helps Fuel Rental Demand Digested from “Lots of Renters Balance Lots of New Apartments” National Real Estate Investor (1/20/15) Anderson, Bendix New data from Reis indictaes that absorption will drop roughly 20,000 to 30,000 units annually for the next few years, especially as a high number of rental units continue to come online for 2015 and 2016. 2014 was a standout year for rental demand, as an above-average number of new units hit the market and were absorbed by demand. Job growth and the burgeoning renter demographic will help fuel demand in coming years, though not at the rates seen in the past 12 months. The increase in new construction will likely raise the vacancy rate, though it should continue to remain under 5 percent. Big-Ticket Sale in Chicago Reflects New Midwestern Attitude Toward Housing Digested from “Chicago Tower Sets Sales Record” Wall Street Journal (1/20/15) Friedman, Robyn OneEleven, a 60-story, 504-unit, modern multifamily tower in downtown Chicago, exchanged hands between New York-based Related Cos. and Chicago-based real-estate investment firm Heitman, to the tune of $328.2 million, or $651,000 per unit. The sale made headlines not only as “the highest price ever paid per unit for an apartment building of more than 50 units in Chicago,” but also because it marks a changing attitude toward renting, especially for the Midwest. With rents ranging from $1,700 per month for a studio to $12,000 per month for a three-bedroom penthouse, the luxury building would seem a poor investment, based on long-held views that those who could afford to live there would prefer to buy rather than rent. But younger generations are bucking this trend by opting to rent in order to skip hefty commutes, while baby boomers and empty nesters are flocking to rentals in an effort to downsize. Based on the price paid per unit, the building could potentially become a condo conversion to ensure cash flow. Higher Demand for Rental Units Fuels Multifamily Industry Digested from “Full Speed Ahead for the Apartment Market” Yardi (1/19/15) Stribling, Dees Rental growth will likely stagnate or drop as a result of increased supply, despite the higher demand for rental units due to record-low vacancy and homeownership rates in 2014. In 2014, 238,000 new units hit the marketplace to keep pace with demand, with 210,000 more projected to come online in 2015. California metropolitan areas such as Oakland and San Jose are primed for the greatest growth as a result of strong job, rent and demographic trends, while some previously hot markets, such as Houston, are projected to cool off. 26 INSites January/February 2015 www.iaaonline.net Overall, there should still be plenty of demand to match the impressive construction rates projected for the next year or two, which are well above industry norms for the previous decade. Counting Cranes Equals Construction Development Digested from “Crane Counts Show Multifamily Dominates” GlobeSt.com (1/20/15) Bubny, Paul Measuring construction activity to determine economic growth is not a new concept. But counting the actual number of cranes in use is certainly more novel. Rider Levett Bucknall’s recently launched Crane Index notes crane activity in major U.S. metropolitan areas such as Boston, San Francisco and Los Angeles to assess actual construction activity occurring in these areas. In its first report, it notes that not only is crane activity indicating future growth, but also that residential construction, especially rental properties, is the primary source. And that growth should only increase in 2015, the company predicts. The index will incorporate additional metro areas, such as Washington, D.C., in future compilations for further insights. The company has had success with similar indexes in its native Australia, New Zealand, the Middle East and southern Africa. Olympus Property and CrowdStreet Partner on Equity Fund Digested from “CrowdStreet Launches $18.4 Million Core Multifamily Equity Fund Investment Sponsored by Olympus Property” CrowdStreet (1/19/15) Crowdfunding investment site CrowdStreet has launched an $18.4 million equity fund featuring three Class A multifamily assets for Texas-based Olympus Property. The funds raised will be used in a joint venture equity investment. The fund is targeted to provide an internal rate of return between 12 percent and 13 percent and annual cash distribution between 6 and 9 percent. This is the first time CrowdStreet has offered a multifamily investment opportunity and the first time Olympus has engaged in online fundraising. The minimum investment amount, which includes direct ownership of the assets, is $25,000. Oil Prices Drop, Job Growth in Houston Slows Digested from “Oil-Price Drop Changes Houston Forecast” Axiometrics (1/15) The tremendous job growth that has been fueling rent growth in the Houston area may decrease more than originally anticipated because of dropping oil prices. Axiometrics is projecting that Houston will have 20,000 fewer new jobs than originally estimated for 2015 — and a decrease of nearly 48,000 year over year. However, 73,000 new jobs would still be among the highest in the nation. Houston’s hot rental housing market was already expected to decelerate this year after years of high growth and the addition of a significant number of multifamily units to the market. The market finished strong in 2014, with 5.3 percent growth and average occupancy of 94.5 percent. Axiometrics predicts rent growth will slow to 3 percent in 2015. Despite the projected decrease in new jobs, however, the situation is not expected to mirror the dire conditions of the 1980s, when dropping oil prices were compounded by the savings-and-loan crisis. And although lower oil prices lead to fewer jobs, they also lead to cheaper gas prices, which means consumers have more money to spend on other sectors such as retail, health care and education. Meeting the Supply/Demand Ratio in Major Metro Areas Digested from “Demand for Apartments: How Many Jobs Needed to Keep Up?” Axiometrics (1/9/15) Ehmann, Chuck Positive job growth is necessary for increased rent growth, and the ratio of job growth to available multifamily units is looking favorable. This rent growth is more favorable in some areas than others, depending on new construction planned relative to expected job growth. The supply/demand ratio, as calculated by Axiometrics, is currently 8.7 for current period job growth against multifamily units permitted. (The average ratio is 5 during periods of positive job growth.) And many metropolitan areas such as Oakland, California; Sacramento; Phoenix; Hartford, Connecticut; and Las Vegas are experiencing ratios well above that. Without a fair number of new jobs, some metro areas, such as Houston, Phoenix and Las Vegas, will struggle to maintain current ratios. But decreases in the supply/demand ratio are more likely the result of increased units than of flailing local economies. www.iaaonline.net When Should You Hire an Exterminator? Digested from “Pest control services: Cost doesn’t mean quality” The Washington Post (1/14/15) Brasler, Kevin It’s a fact of life: Apartment community managers will need to deal with pests at some point or another. Consider these evaluation measures before calling an exterminator. Research and compare consumer reviews and costs for pest control services. But don’t be fooled into thinking that expensive services equal stellar service. Checkbook.org found no correlation between cost and quality. National Focus However, you may not need an exterminator. Different pests require different approaches. For example, ants and roaches may be eliminated through simple baits or sprays, whereas bedbugs likely require professional assistance because of their resilience to pesticides. An exterminator may also be necessary to get rid of termites, but it’s important to get an inspection and treatment proposals from at least three companies. Avoid those that use bait systems and read the fine print on proposals (e.g., how often will the company provide inspections after treatments and what is required to maintain the warranty?). And, of course, prevention is always key. Set up rules for common areas that promote proper food storage and cleanup. Also, make sure to remove excess moisture with dehumidifiers, and block access to building interiors by properly sealing any cracks or gaps. Projecting an Intelligent Image Digested from “How to Look Smarter” The Wall Street Journal (1/13/15) Shellenbarger, Sue The saying, “Fake it ’til you make it” may not apply to projecting intelligence, according to studies conducted by Nora A. Murphy, an associate professor of psychology at Loyola Marymount University in Los Angeles. In fact, trying to fake intelligence may actually signal a lack thereof. Murphy’s studies looked at a number of behaviors to see what observers associated with intelligence. In general, making eye contact, standing or sitting up straight, and appearing self-confident boosted the perceived IQ of the person to observers in the study. On the other hand, using big words and remaining stoic were associated with trying to appear intelligent. Some speakers were instructed to appear intelligent, and others were given no instructions at all. Observers were able to more readily identify the IQs — higher and lower — of the former than the latter, leading to the conclusion that you really are better off just being yourself. Win a Gift Card from IAA! What is one thing you learned from reading this issue of INSites? Post your answer to the IAA Facebook page and you’ll be entered in a drawing to win a $50 Visa gift card! www.facebook.com/ IndianaApartmentAssociation January/February 2015 INSites 27 Associate Member Update IAA values the membership of Associate Members and welcomes several new members who provide products, services and expertise in the multifamily industry. New Members A Better View Window Cleaning RentDebt Automated Collections Associa Oncall Reis, Inc. BLC Property Management SatisFacts Research, LLC Exterior Building Products TNT Services HSC Pavement Maintenance Universal Roofing & Exteriors Ice Miller LLP Wasson Nursery Landlordlocks.com, Inc. Western Waterproofing Priority Promotions (As of February 12, 2015) GREAT service smart pricing call ray’s today. CONNECT WITH IAA If you are doing business with vendors who are not already members of IAA, please encourage them to join today! Facebook www.facebook.com/ IndianaApartmentAssociation Fan Page Members 1020 Twitter www.twitter.com/aptassociation Followers 1545 LinkedIn www.linkedin.com/groups/ Indiana-Apartment-Association-3020589 Fan Page Members 557 28 INSites January/February 2015 www.iaaonline.net
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