An Affiliate Of February 2008 Upcoming Events Vendor Council Thursday, February 12 Chicken Coop, Noon General Membership Meeting Wednesday, February 18 Vern’s Restaurant, Clive12:00 Topic: Renter Credit Quality & Traffic Trends Presented by Jim Bakerand Scott McBroom ofFirst Advantage SafeRentRegistration attached Fair Housing & Beyond Wednesday, February 25 West Des Moines PD 10:30 am - 4:00 p.m. Registration attached March Leasing 101 Tuesday, March 24 “It’s a Jungle out there, so we’re going Back to Basics”Venue and time TBA Committee Updates 2009 CIAA Board Members Letter from the President January Meeting Highlights New Members Announcements, Promotions, Postings Vendor Spotlight - Waste Management Vendor Listings February meeting registration Fair Housing and Beyond Fair Housing Registration NAA Connect Inside Y our Newsletter: In with the new... History was made on many levels in November when the nation’s first Afr ican-American Presi dent was elected. The question on eve- ryone’s mind is where does the country go fr om here? How will this Democratic “hat tr ick” change the business climate? Declining home prices and steady increases in housing stock can prove to be problem- atic for the rental industry. From CNN Money.com, J anuary 27, 2009: An index of home prices in 20 major metropolitan areas fell at a record annual pace in November, to levels not seen since 2004, according to a report released Tuesday. The S&P Case-Shill er Home Price Index, a sampling of 20 cities from across the nation, fella record 18.2% over the 12 months ended Nov. 30. That brought the index to its lowest pointsince February 2004. From its peak in mid-2006, the index has plunged a whopping 25.1%. Eleven of the 20 cities showed record declines, and the 12-month price drop for 14 of the cities was a double-digit percentage. "The freefall in residential real estate continued through November 2008," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's, in a prepared statement. He said the 20-city index has fallen for every month since August 2006, a total of 28 consecu- tive months. None of us know where this will al l end. One thing is certain - it’s our job as property management professionals to educate ours elves on the housing market and educate our resident s. I have helped many residents who were taken in by flashy but deceptive ads to realize the actual monthly cost ofbuying one of those townhomes w ith that great monthly payment. Add the cost of maintenance, real estate taxes, repairs, and association fees on top of amenities that are included in rent - fitness centers, business centers, swimming pools - we can help ourselves and our bottom lines by simply pointing these things out. Not to mention, but of course I will, home values conti nue to decline and that means unless they’re planning on staying in one place for several years, they will never have a chance to actually “own” anything. Many homeowners who were caught up in the sub prime mort- gage crisis have learned that expensive lesson. The point here is that we have a golden opportunity to once again to bring apartment living on parwith homeownership. Apartment living will become a more viable option as the cost of owning a single-family home will far exceed the financial capabilities of many Americans. -Rick“OurProfit is Your Success”
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“It’s a Jungle out there, sowe’re going Back to Basics”
Venue and time TBA
Committee Updates
2009 CIAA Board Members
Letter from the President
January Meeting Highlights
New Members
Announcements, Promotions, Postings
Vendor Spotlight - Waste Management
Vendor Listings
February meeting registration
Fair Housing and Beyond
Fair Housing Registration
NAA Connect
Inside Your Newsletter:
In with the new...
History was made on many levels in November when the nation’s
first African-American President was elected. The question on eve-
ryone’s mind is where does the country go from here? How will this
Democratic “hat trick” change the business climate? Declining home
prices and steady increases in housing stock can prove to be problem-
atic for the rental industry. From CNNMoney.com, January 27,
2009:
An index of home prices in 20 major metropolitan areas fell at a
record annual pace in November, to levels not seen since 2004,
according to a report released Tuesday.
The S&P Case-Shiller Home Price Index, a sampling of 20 cities from across the nation, fell
a record 18.2% over the 12 months ended Nov. 30. That brought the index to its lowest point
since February 2004. From its peak in mid-2006, the index has plunged a whopping 25.1%.
Eleven of the 20 cities showed record declines, and the 12-month price drop for 14 of the
cities was a double-digit percentage.
"The freefall in residential real estate continued through November 2008," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's, in a prepared statement. He
said the 20-city index has fallen for every month since August 2006, a total of 28 consecu-
tive months.
None of us know where this will all end. One thing is certain - it’s our job as property management
professionals to educate ourselves on the housing market and educate our residents. I have helped
many residents who were taken in by flashy but deceptive ads to realize the actual monthly cost of
buying one of those townhomes with that great monthly payment. Add the cost of maintenance,
real estate taxes, repairs, and association fees on top of amenities that are included in rent - fitness
centers, business centers, swimming pools - we can help ourselves and our bottom lines by simply
pointing these things out. Not to mention, but of course I will, home values continue to decline and
that means unless they’re planning on staying in one place for several years, they will never have a
chance to actually “own” anything. Many homeowners who were caught up in the subprime mort-
gage crisis have learned that expensive lesson.
The point here is that we have a golden opportunity to once again to bring apartment living on par
with homeownership. Apartment living will become a more viable option as the cost of owning a
single-family home will far exceed the financial capabilities of many Americans. -Rick
The Legislative Committee will attend a Subcommittee hearing on a Consumer Fraud bill (SSB 1037) on MondayFebruary 2nd. We will be submitting arguments that the multi-family industry be exempted from the proposed con-
sumer fraud private cause of action section because of conflicting statutes we must follow in the Landlord-Tenantlaw, as well as existing registration requirements for multi-family units.
HSB 52, which addresses electrical licensing, only affects residential units which by law and for purposes of realestate taxes are defined as four (4) units or less. Any multi-family buildings over four units will not be affected bythis legislation. Some members were alerted erroneously through a source outside of the CIAA and we want to as-sure our members that we are staying on top of the issues for you!
Legislative Committee
Education Committee“Fair Housing and Beyond” will be presented February 25 at the West Des Moines Police Department conference
room from 10:30 - 4:00. Don’t wait until the last minute to register - we’ve had a tremendous response!
“Leasing 101” will be presented Tuesday March 24th. This seminar is free to all CIAA members! We’re changingit up this year and it’s going to be an exciting and informative session that is perfect for all your new leasing people
as well as anyone who is getting complacent or who may just want a refresher. The basics have always been the ba-
sics, and the “old-timers” are here to help!
Vendor CouncilThe date is set for our Annual Golf Outing! Details will follow, but for now, mark your calendars for Friday, June 12,
1:00 start!
Event committees have been established and we want to thank the following people for volunteering their time and
resources:Golf Outing: Steve Arnburg, Melissa Johnson, Tom Newton, Mary Spain, and April St. Aubin
Trade Show: Connie Blodgett, Jennifer Gavin, Andrea Larson, Michelle Ogden, April St. Aubin
Vendor Social/Maintenance Olympics: Jennifer Gavin, Rick Koontz, Dave Leete, Mary Spain
Each of us performs an important function in fulfilling our daily tasks and obligations. But so few reallyunderstand how each team member contributes and how important every singe person is regardless of their positionor title. I really enjoyed receiving this from an old coworker in Michigan, so rather than try to interject my own phi-
losophies, I’ll share someone else’s this month. This was written by Angeles Arrien:LESSONS FROM GEESE
As each bird flaps its wings, it creates an uplift for others behind him. There is 71% more flying range in V-formation than flyingalone. Lesson: People who share a common direction and sense of common purpose can get there quicker.
Whenever a goose flies out of formation, it quickly feels the drag and tries to get back into position. Lesson: It’s harder to do some-
thing alone than together.
When the lead goose gets tired, it rotates back into formation and another goose flies at thehead. Lesson: Shared leadership and interdependence gives us each a chance to lead as
well as opportunities to rest.
The geese in formation honk from behind to encourage those up front to keep up their speed. Lesson: We need to make sure our honking is encouraging and not discouraging.
When a goose gets sick or wounded and falls, two geese fall out and stay with it until it re-vives or dies. Then they catch up or join another flock. Lesson: Stand by your colleagues
in difficult times as well as in good.
Rick Koontz, CIAA President
Signature Place Apartments
Page 3
January General Membership Meeting
Letter from the President
We had a full house at Latin King for our January General Membershipmeeting. Bill Armstrong of Timberland Partners and Gary Gallagher of Central Iowa Duct Cleaning educated members on the new law requiringthat dual-sensor smoke detectors be installed in all new construction andretrofitting current smoke detectors effective April 1, 2009.
Gary has researched options for pur-chasing these detectors and discovered
there are limited vendor resources as well as limited items. Currently only battery-operated dual sensor detectors are available at a cost of around
$18.00. Because of this, enforcement of this new law will more than likely be postponed again (it was originally set to go into effect October 1, 2008).Bill met with authorities from most of the local communities and enlight-ened us on the ins-and-outs of the legislation and what the local authorities expect from rental properties. Billalso explained that the new law exempts properties that have more advanced fire detection and suppression sys-tems, such as sprinkler systems.
Members in attendance were provided with copies of the code. If you need the information, click here for theIowa Department of Public Safety webpage. You will find links to the actual legislation as well. Be sure to stayon top of this very important issue!
Olde English Village is looking for a maintenancetechnician. Contact Melissa Johnson at 515-223-1010 or [email protected] to ap- ply or for additional information.
New Vendor Members
Des Moines 360, Inc.
Sears Commercial
Sherwin Williams Paint
ASSSISTANT PROPERTY MANAGER
LEASING CONSULTANT
BH Management is seeking an Assistant Property Manager and LeasingConsultant for Washington Heights. Assistant Manager candidates shouldhave 1 year previous experience. Customer service sales experience is preferred for the Leasing Consultant position.
Please email resumes to [email protected] information can be found at www.bhmanagement.com
“The one
word that
makes a
goodmanager -
decisiveness”
- Lee Iacocca
Announcements, Positions, and PostingsHubbell Apartment Living would like to welcome
Victoria Lange as Leasing Consultant for Hamlet
and Bristol Apartments and Jaibre Spargur as
Assistant Property Manager at Somerset Apart-
ments.
Josh Carney is the new leasing agent at Tim-
berland Pointe Apartments in Des Moines.
Daymark welcomes back Heather Benton as
manager of Woodbridge Apartments.
New Property Members
Drake Park
Bennett Grand Woods Alpha-Barnes Real Estate
Boone Sundance
Marshalltown Sundance
Newton Sundance
MANAGEMENT / LEASING
Hubbell Apartment Living is currently seeking motivated, high energy
personnel to join their management and leasing staffs. Visit their website,www.hubbellrealty.com to view current openings and to apply online.
Waste Management can assist you in your efforts of reducing your waste flow and overall costs by provid-ing an in depth waste audit. By suggesting alternative services, container sizes and frequencies this can bea benefit to your entire community. Improving aesthetics and making your communities’ collection proc-ess more efficient is what Waste Management can do for you.
This waste audit solution was most recently presented to TAB Properties and I am thrilled to say we arenow business partners! They saw the benefits that we were able to provide and so can you!
Hot Beef / $14.00________ Chicken Caesar Wrap / $13.00________
PLEASE BRING A CHECK PAYABLE TO CIAA OR EXACT CHANGE PLEASE BRING A CHECK PAYABLE TO CIAA OR EXACT CHANGE PLEASE BRING A CHECK PAYABLE TO CIAA OR EXACT CHANGE
“Our Profit is Your Success!”
Membership Meeting Registration
February 18, 2009 12 NoonVern’s Restaurant, Clive
15970 Hickman Road, West of I-80/35
Renter Credit Quality & Traffic TrendsRenter Credit Quality & Traffic TrendsRenter Credit Quality & Traffic Trends As the economy continues to decline, savvy apartment operators and investors are studying rental applicant patterns to prepare for a thin year ahead. By anticipating seasonal and extraordinary slowdowns in rental traffic, operators cangain a competitive edge in attracting a greater share of limited applicant traffic. By reviewing comparative perform-ance by property class and market, investors can understand credit risk to NOI projections and investment cycle tim-ing. In this quarterly presentation from First Advantage SafeRent, you’ll get a national review of renter credit qualityand traffic trends and their implications for operations and investments.
Jim Baker and Scott McBroom help you to uncover the trends from First Advantage SafeRent’s unique database of more than 6 million rental units.
In this presentation they will:
• Help you benchmark applicant volume and renter credit quality. We’ll examine the performance of variousasset classes and identify which are most impacted in a slow absorption, negative job growth environment.• Review the current economy and foreclosure practices. Find out how this has impacted incomes and renter credit quality and what you can do to adjust for these market changes.• Arm you with tools to manage your risk and performance. We’ll review management reports availablethrough First Advantage SafeRent that can be used to benchmark and adjust property-level performance.• Take a look ahead. Based on knowledge and analysis of recent trends, we will provide some observations onthe outlook for the year ahead.
Please fax your reservations to Mary Spain at (515) 327-9104 by February 16, 2009
All reservations will be billed if no-show. Payment in advance of class is appreciated!
Mail payment to: CIAA, 3775 E.P. True Pkwy, Suite 263, West Des Moines, IA 50265
February 25, 2009 10:30 a.m. - 4:00 p.m.
West Des Moines Police Department, 250 Mills Civic Pkwy (E. of 50th St.)
NAAEI and IREM have partnered to develop this coursework and education initiative. NAAEI represents the
education and career development division of NAA, while IREM serves as a professional association for managers of income-producing properties worldwide.
The “Fair Housing and Beyond” seminar was created by subject matter experts from both of the above organiza-
tions. A legal firm specializing in Fair Housing reviewed all course content to insure compliance with Fair Hous
ing Law.
• Sets new standard in fair housing training
• Uses DVD-delivered scenarios to demonstrate how real-life situations require critical thinking and pru-
dent decision making
• Vividly shows the serious consequences of incorrect responses and provides coaching on how to avoid
costly mistakes
• Delivers relevant knowledge of fair housing essentials – practical explanations of how federal, state, and
local protected classes and barred discriminatory acts impact property operationsTraining for:
• Management company executives
• Property and site managers
• Leasing professionals
• Maintenance technicians
• Vendors at your property
The National Apartment Association Education
Institute (NAAEI) and The Institute of Real Estate