NAA Industry Insider: Apartment REITs Expected to Become Net Sellers This Year | National Apartment Association

NAA Industry Insider: Apartment REITs Expected to Become Net Sellers This Year


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Apartment REITs Expected to Become Net Sellers This Year
Digested From "Apartment REITs Expected to Become Net Sellers This Year"
NuWire Investor (02/13/14) Anderson, Bendix

Buying apartment communities in core markets is no longer enough for multifamily REITs, which are expected to slow their acquisitions of individual assets this year. Dan Fasulo, managing director with Real Capital Analytics (RCA), forecasts, "I think you're going to see them becoming more neutral or even becoming net sellers." He adds that REITs can no longer count on apartment values to rise through the roof because prices have already climbed so far. To find yield, apartment REITs are pursuing other strategies, most notably mergers and portfolio purchases that may produce new value for their investors. The volume of apartment community sales remains high and on the rise. But many of these properties are now traded as part of larger portfolios or via mergers between companies.

Sales of individual apartment communities decreased 13 percent drop in the fourth quarter, notes RCA. Throughout last year, REITs continued to purchase more assets than they sold in core apartment markets. The District of Columbia, Los Angeles, New York City, San Francisco, Boston, and Seattle represented the top six markets where REITs bought apartment communities in 2013. Other top areas for REIT sales included such secondary markets as Atlanta, Orlando, Dallas, and San Diego. Back in October, Colonial Properties Trust and MAA completed their merger. The new, $8.3 billion company boasts 85,000 apartment units in its portfolio mostly throughout the Sunbelt. According to an MAA statement, the combined company is saving roughly $25 million a year from "the elimination of duplicative costs."
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Market Trend Insights

Apartment Rents Are SO High in N.Y., L.A., and ... Williston?!
Digested From "Rent in North Dakota Oil Patch City of Williston Exceeds New York, Los Angeles, Boston"
Minneapolis Star Tribue (Minnesota) (02/16/14)

A new Apartment Guide study shows that the rapidly growing North Dakota oil patch city of Williston has the highest average rent in the United States. A one-bedroom apartment measuring 700 square feet in Williston now rents for an average of $2,394 a month. The same apartment would cost an average of $1,504 in the New York City area, $1,411 in the metro Los Angeles, or $1,537 in the Boston market. Since the 2010 Census, the population of Williston has more than doubled. More than 30,000 people are estimated to now live within the city's limits. Both the city and developers have lagged behind the influx of oil field workers, whose sometimes six-figure salaries can bear inflated rent. Pam Winter, Apartment Guide's regional sales executive for North Dakota, notes, "Projects that will be 300 units by the end of the year are looking to be 800 if it continues to boom. Currently, I have not seen many concessions, and one of the developers raised his rent in January."

Nearby Dickinson, N.D., ranks fourth on the list at an average of $1,733 a month. Boston trails in sixth place, followed by New York in seventh, and Los Angeles in eighth. Chicago failed to even crack the top 10. The state of North Dakota recently created the Housing Incentive Fund, which provides dollar-for-dollar tax breaks for donations to help erect affordable apartments for essential workers. Many of the new apartment communities feature mudrooms, where oil field workers can remove dirty shoes prior to entering. "I think they are optimistic the oil boom will be around for the next 20 years because of the different levels of oil they now have access to through fracking," Winter stated.
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Why Are Downtown Chicago Rents Becoming So Depressed?
Digested From "Building Boom Depresses Downtown Apartment Rents"
Crain's Chicago Business (02/13/14) Gallun, Alby

Rents at high-end downtown Chicago apartments dipped in 2013 as demand failed to keep up with supply. Analysts report that this imbalance could continue amid a building boom that shows few signs of abating. According to Ron DeVries, vice president at Appraisal Research Counselors, net rents at Class A apartment communities in downtown Chicago slipped 2.7 percent to $2.51 per square foot in 2013 from a year earlier. Many owners and managers are losing their pricing power amid stiff competition from new high-rises with upscale amenities. This comes after three unusually strong years in a row that saw Class A net rents climb 7.5 percent annually from 2009 to 2012, powered by a shift in the housing market away from for-sale condominiums and into rental housing. Many would-be buyers opted to rent during that time span, and developers responded by building new downtown apartment towers. They completed approximately 2,700 apartments in 2013, the most in one year since 1999, notes Appraisal Research. They are on pace to add more than 2,000 rental units this year and more than 4,000 in 2015, according to the firm. The newer high-rises are stealing residents away from the city's older Class A stock. "They're the ones that are really paying the price," confirms DeVries. He expects downtown apartment occupancies to drop to nearly 90 percent over the next year or so as more developers complete projects. To attract residents, who have more choice, some owners and managers are now relying heavily on such concessions as one or two months of free rent.
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Durham Rents Are Down ... and That's No Bull
Digested From "Rental Rates Down as Apartment Construction Booms"
Durham Herald-Sun (NC) (02/14/14) Oleniacz, Laura

A new Real Data report shows that the boom in apartment construction in Durham County and across North Carolina's Triangle has helped to bring down average rental rates. Throughout the county, the average rental price per unit in January was $887 a month -- a 2.3 percent decrease versus the average in July 2013. That is a bigger decline than was seen in the three Triangle counties of Wake, Durham, and Orange where the average dipped 1.7 percent to an average rate of $868 a month. Apartment vacancies have risen as some of the units in the new communities have come online. Real Data researchers note that a total of 3,045 apartments are now under construction in Durham County, which is 30 percent of the total number of rental units currently being built throughout the Triangle. According to researchers, it appears the newer units are being rented out at the expense of older communities. Existing apartment communities recorded a net loss of 306 residents across the Triangle, Real Data reports.
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Boulder Apartment Market Rocks On
Digested From "Area's Apartment Vacancy Rate at 3.4 Percent"
Boulder County Business Report (02/10/14) Lindenstein, Joshua

Figures released last week by the Colorado Division of Housing and the Apartment Association of Metro Denver showed that apartment vacancies for the combined Boulder and Broomfield areas declined in the fourth quarter from a year earlier even as the Denver metropolitan area's rate as a whole increased to a two-year high. Together, the two counties registered a 3.4 percent vacancy rate compared to 3.7 percent for 2012's October-through-December period. However, it should be noted that the fourth-quarter 2013 rate was a bit of an increase from the third quarter's 2.8 percent vacancy. The city of Boulder, not including the area around the University of Colorado, had a 3.8 percent vacancy rate in the last three months of last year. In the university area, Boulder's rate dropped from 2.0 percent in the third quarter to 0.0 percent. Hundreds of new apartments are coming online in Broomfield, meanwhile. That city's vacancy rate was 3.6 percent, way down from the 6.2 percent rate it saw for the same period a year earlier.
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Concessions Tempt Apt. Hunters to Take Bite Out of Big Apple
Digested From "They're Back! Manhattan Landlords Are Starting to Offer Concessions Again as Tenants Push Back"
New York Daily News (02/13/14) Furman, Phyllis

To keep occupancy rates high amid sky-high rents, more and more apartment owners in Manhattan are offering concessions. Such incentives had been all but nonexistent for the past couple of years. As much as 13 percent of leases brokered by Citi Habitats last month included either the payment of a broker's fee or one month's free rent. A separate Douglas Elliman study also showed similar concessions reaching 13 percent in January. While concessions remain under the 30 percent-plus levels that were common just three or four years ago, it is evident that Manhattan apartment owners and managers are under heightened pressure to keep their units full. Citi Habitats president Gary Malin confirms, "As 2013 ended, rents were being pushed to near record levels, to the point that many [residents] chose to stay put or explore opportunities in the city's sales market. [Owners] needed to add move-in incentives to drive traffic." The concessions helped lower the vacancy rate in Manhattan from 1.82 percent in December to 1.62 percent -- the lowest rate since September 2013's 1.48 percent.
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Deals and Transactions

Raleigh Apts to Complete the Triangle for Some
Digested From "Raleigh, Morrisville Apartment Complexes Get Ready to Welcome Tenants"
Triangle Business Journal (02/14/14) Hoyle, Amanda Jones

In the tight rental market of Raleigh, N.C., construction is wrapping up and residents are moving in at two of the large apartment communities that broke ground in 2012 -- The Greens at Centennial Campus and The Bristol at Park West Village in suburban Morrisville. The former is the first apartment community on N.C. State University property that is not targeting the undergraduate population. All lease holders at The Greens must be at least 22 years old, which should appeal more to the workforce of such local businesses as ABB Ltd.,, and Lexis Nexis, not to mention the university's faculty and staff. Graduate students are allowed to rent untis at The Greens. Howver, they must still meet the community's leasing standards, which includes an ability to pay monthly rents that range from $785 for a studio apartment to $1,575 for a two-bedroom apartment. The 292-unit community, which was developed and is being managed by Capital Associates of Cary, features such amenities as a saltwater pool, auto garage options, and a fenced dog park. The Bristol in Morrisville is a 260-unit apartment community, with rents ranging from $982 a month for a one-bedroom unit to $1,875 a month for three-bedroom units. It was developed by Wood Partners LLC and its equity partner, Prudential Real Estate Investors.
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Price Expected to Go North for South Loop Apartment Tower
Digested From "South Loop Apartment Tower Goes Up for Sale"
Crain's Chicago Business (02/11/14) Gallun, Alby

Behringer Harvard Multifamily REIT I Inc. has hired CBRE Inc. to sell the 298-unit Burnham Pointe apartment towner in Chicago's South Loop. Analysts are keeping a close watch as the sale will test investor demand for downtown apartments amid a construction boom that has fueled concerns about a potential glut. Most expect it to generate a significant gain for Behringer Harvard, the Dallas-based REIT that purchased the tower in the summer of 2010 when the real estate market was in the early stages of a rebound. Based on recent downtown apartment sale transactions, Burnham Pointe could fetch as much as $119 million, or more than $400,000 per apartment -- 35 percent more than the $88 million Behringer Harvard paid for the asset in 2008. The gain stems from increased investor demand for multifamily housing in the market and higher income at the 29-story building due to rent and occupancy increases.
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Industry Buzz

2014 Feb. Partner Sponsors
Six Reasons Why Medium Apt. Buildings Are Good Investments
Digested From "Why Medium Apartment Buildings Are Better For Investors"
RealtyBizNews (02/14/14) Kline, Brian

Apartment communities continue to be widely regarded as a wise investment. Ideally, individual investors who go this route want to invest where they will earn the most rent per unit. Frequently, that is in communities with less than 100 apartments. There are six reasons why properties of this size are the way to go. First, cash on cash returns for medium-size communities are frequently better than for large properties offering a wide array of on-site amenities and services. Second, there are simply more medium-size communities available for purchase at any given moment, which means less competition from other investors and a greater chance to find one with exceptional cash flow. Third, such communities require less equity to acquire. Fourth, the individual investor will not be dealing with a large financial institution as the seller with a strict sales policy. Fifth, there is usually less upkeep and maintenance. Finally, the article's author writes: "Often the less sophisticated seller has avoided raising rents because they've become chummy with the tenants or they are afraid the vacancy rate will go up. By studying the local rents and vacancy rates, you might find you can immediately increase cash flow through rent increases."
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How New Mexico's Apartment Sector Impacts Jobs and More
Digested From "New Mexico Apartment Industry Touts Impact, Jobs"
Albuquerque Business First (02/11/14) Scott, Damon

Kelle Senye, executive director of the New Mexico Apartment Association (AANM), reports that her organization and the industry as a whole has set aside February to raise awareness of the multifamily housing sector's impact on the economy. Members of AANM alone employ approximately 1,700 people statewide and have a combined $3.3 billion impact on the state's economy. Nationwide, the industry supports nearly 2.3 million jobs and has $1.1 trillion of economic impact. Another 1.7 million people are indirectly employed in the industry, such as plumbers ,cleaning crews, and marketing consultants. AANM recently hosted a members' luncheon in which Alexandra Jackiw of the National Apartment Association was the featured speaker. Jackiw discussed how management firms can recruit employees, support advancement, and create visibility for careers in the apartment industry. Looking ahead, AANM's second annual career fair is scheduled for Feb. 26.
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Legal/Legislative Did You Know

2014 Feb. Mission Sponsors
L.A. Apartment High-Rises Cope With a Lack of Fire Sprinklers
Digested From "35 Percent of L.A.'s High-Rise Apartment Buildings Lack Fire Sprinklers"
Los Angeles Times (02/12/14) Serna, Joseph

Although city laws mandate that high-rise apartment buildings constructed prior to 1943 and after 1974 have fire sprinklers installed, that leaves a 30-year gap in which high-rises were built in Los Angeles without having to install sprinklers. By city officials' count, 71 of L.A.'s roughly 200 residential high-rises lack fire sprinkler systems. L.A. officials first made a push to retrofit all high-rises -- both residential and commercial -- with sprinklers in 1988 after a fire at First Interstate Tower downtown killed one man and injured 40. But supporters opted to divide the proposal into two: one for apartments and condos and the other ofr businesses. Legislators approved retrofitting some 350 commercial buildings, but there was stronger resistance from multifamily owners. The costs to retrofit were too high, they contended. "We're always interested in providing clean, safe affordable housing," remarks Jim Clarke, head of the Apartment Association of Greater Los Angeles. "If it doesn't have fire sprinklers, it may not be the safest place to live, but at the same time you're bound. Your hands are tied because of finances." Building codes dramatically changed in the United States following a high-rise fire in Brazil that claimed more than 100 lives. Many of today's apartment and condo high-rises are compartmentalized so fires do not spread easily from unit to unit. Furthermore, staircases are pressurized so they do not fill with smoke. While L.A. has some of the strictest building codes in the nation, residential building owners typically have to front the costs for retrofitting. Consequently, they can only hope to recoup the money through grants. At the same time, Clarke notes, it is hard to get bank loans for the projects because repayment is not guaranteed. Laws prohibit owners from passing the costs of the retrofitting on to residents beyond a yearly 3 percent rent hike. Additionally, if residents are displaced, it is up to the building owner to pay to put them up elsewhere. Clarke concludes, "Those are things we're trying to change. We're trying to make things both fair for the owner and the renter." Fire department officials, meanwhile, maintain that a sprinkler system is the best first line of defense against a blaze. Ray Bizal of the National Fire Protection Association comments, "You're significantly less likely to die in a fire if your residence is equipped with automatic fire sprinklers. Clearly, in a high-rise building, you have added risk. You're subjected to other people's fire behavior, not only your own."
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Restrictions May Mean Everyone Out of the Pool in Wichita Falls
Digested From "Pool Managers Learn How Possible Stage 5 Water Restrictions May Impact Them" (02/13/14)

While the Wichita Falls City Council has not made any decisions on what possible stage five water restrictions would mean for residents, health department officials recently told pool managers for apartment communities and public swimming pools they could be affected if the ongoing drought continues. According to Susan Morris, Environmental Health Administrator at the Wichita Falls-Wichita County Public Health District, pools in the city would be affected if stage five kicks in this summer. "City staff has recommended that if stage five happens that city water not be put into swimming pools to refill or to fill," said Morris. Additionally, Morris said that if the city does get the more stringent rules, pool managers who already paid for pool permits would not get a refund. Morris says the possible stage five water restrictions on swimming pools would also apply to homeowners and public facilities.
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Rockford (Ill.) Apartment Registration Deadline Looms
Digested From "Rockford Landlord Registration Changes, Deadline Looming"
WREX-TV 13 News (02/14/14) Passolt, Kelsie

Apartment owners in the Rockford, Ill., area landlords now have options when it comes to signing up for an online database. However, that does not change the March 1 deadline. The Residential Quality Support Ordinance last week was amended to accept paper applications for those who lack Internet access. Originally, you could only sign up via the Web. The ordinance mandates that apartment owners give contact data to the City of Rockford in return for electronic notification when police officers or fire fighters are called to their properties. Rockford Apartment Association President Paul Arena remarks, "That was a problem that we've always had through the years is that the neighbors would become angry because things were happening and they were assuming the landlord knew when the landlord didn't." Under the new law, after the March 1 deadline, if the apartment community sells or changes hands, the owners can file a new application on paper until March 31. City officials say adjusting the law to include paper could come with a price as a paper-based system might change how owners are notified if they do not have access to a computer. The Rockford Apartment Association is offering assistance to get owners signed up electronically. If the March 1 deadline is missed, the owner face a $50 penalty, $150 after the second month, and a daily penalty after that.
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Seismic Shift in Retrofitting Could Hit Santa Monica Owners
Digested From "Officials: More Retrofitting May Be in Future"
Santa Monica Daily Press (CA) (02/12/14) Simpson, David M.

Santa Monica's City Council has set aside $105,000 to kick off a three-part seismic safety program. The cash will go towards the first phase, which will take inventory of the buildings that need to be retrofitted so they can withstand a serious earthquake. But experts say required retrofitting could hit the wallets of apartment owners and their residents. The Rent Control Board, along with several other city departments, will advise City Hall on how to proceed with handling retrofitting issues. "Striking the right balance between safety and cost and crafting a fair sharing of those costs between renters and owners in the challenge which all stakeholders face," said Wes Wellman, the president of Action Apartment Association. Consultants and city officials will continue to identify buildings that have not been retrofitted and then reassess the current standards and guidelines. In the fall, they will return to council with recommendations for updates to the municipal code.
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Why Aren't CO Detectors Mandatory in San Antonio?
Digested From "CO Detectors Not Mandatory in San Antonio" (TX) (02/10/14) Cooper, Gary

Apartments in San Antonio are still not required to have carbon monoxide (CO) detectors. In the fourth quarter of 2011, San Antonio City Council had the chance to adopt the International Fire Code, which included an amendment that would mandate 30,000 apartments citywide to install CO detectors. The amendment was met with significant opposition from both the San Antonio Apartment Association (SAAA) and the Texas Apartment Association. At the time, SAAA officials went on record saying such a provision would be too expensive for apartments to comply with. A 2011 SAAA bulletin read: "Purchasing and installing CO detectors could cost homeowners and the San Antonio apartment industry $24 to $60 million, and this cost will have to be repeated at least every five years as CO detectors need to be replaced." Consequently, City Council members voted down the mandate. Laws have since changed, and any new apartment community built after 2011 is required to install such detectors. In a statement, SAAA Executive Director Teri Bilby commented: "Rental owners obviously care about the well-being of their residents, and incidents of carbon monoxide illness in multifamily dwellings are fortunately exceedingly rare."
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Anti-Crime Program Helps Keep Iowa Apt. Communities More Secure
Digested From "Anti-Crime Program Helps Keep Apartment Communities More Secure"
Des Moines Register (02/12/14) Klingseis, Katherine

Currently, more than 20,000 West Des Moines residents live in the Iowa city's 60-plus apartment communities, and crime is a concern. One of the big ways local police officers are keeping these communities safe is by getting to know residents and property managers via the Crime Free Multi-Housing Program. Des Moines and West Des Moines signed on to the national program in 1995. Since then, its central Iowa roster has grown to include four additional markets -- Ames, Clive, Johnston, and Urbandale. Now, law enforcement in Altoona is in the process of joining as more apartment complexes have been built in that eastern Polk County community. The program helps apartment owners, managers, residents, and police work together to make multifamily housing as safe and crime-free as possible. Becky Noel, executive director of the International Crime Free Association, states, "It needs to work through the law enforcement agency, managers need to feed [police] info, and they need to get info from [residents]. It's about all of us being held accountable." The program is working in West Des Moines. Cops report that they responded to fewer calls for disturbing the peace, domestic disturbances, theft from motor vehicles and drug cases at apartment communities in 2013 than the previous year. The Crime Free Multi-Housing Program is a three-phase certification program that began in Mesa, Ariz., in 1992. Since then, it has spread to approximately 2,000 cities throughout North America and elsewhere.
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NAA Announcements

The 2014 NAA Student Housing Conference & Exposition Is Just 12 Days Away: Here’s Three Steps to Get Ready For Vegas

The 2014 NAA Student Housing Conference & Exposition Is Just 12 Days Away: Here’s Three Steps to Get Ready For Vegas

The 2014 NAA Student Housing Conference & Exposition, March 3-5 at the ARIA resort in Las Vegas, is your ticket to graduating to the next level of management in this thriving niche of rental housing.

Haven’t registered yet? It’s all right—caused you’re saved by the bell.

Now we’ve gotten that little bit of housekeeping out of the way, here are three steps to prepare yourself for three days thought-provoking breakout sessions (a complete list is available), dynamic business leaders and speakers during the general sessions and non-stop networking with like-minded peers and leading-edge suppliers on the trade show floor.

1. Download the free, official mobile app. Among its features are methods for organizing and planning your conference schedule; choosing the education sessions that best fit your needs; interactively identify exhibitors with whom you’d like to interact; built in Twitter and RSS feeds, photo sharing and so much more!

2. Get familiar with myNAA Planner. This free, personal event planning tool offers the ability to meet, greet and connect with other attendees and suppliers, allowing you to pre-qualify meetings and enhancing your ability to plan your time and education sessions you’d most like to attend.

3. Pre-order the NAA Education Institute (NAAEI) “Rewind” Program. Can’t be in two places at once? Can’t choose between two equally interesting speakers? NAAEI’s “REWIND” program offers14 PowerPoint-synced audio sessions from the Conference. Don’t stress, just pre-order REWIND with your conference registration for just $99!

Awaiting you is actionable intelligence and turnkey solutions perfect for helping you achieve your personal and professional goals. Register today and keep checking the NAA Student Housing Conference website for schedule, housing and the latest announcements. And remember to use the official hashtag #NAAStudentConf to engage, discuss and follow the conference.
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Will We See You on Lobby Day?

Learn how to invest in your political capital and advocate to Congress by attending the 2014 NAA Capitol Conference and Lobby Day. You can save time and money on travel and lodging with this year’s customizable schedule: Attend only the Capitol Conference on March 11 and Lobby Day on March 12, or also attend the spring Board of Directors and committee meetings on March 9 and 10.
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Denver Led the Nation in Annual Rent Growth in 2013; Find Out First-hand What Makes This Market Special at the 2014 NAA Education Conference & Exposition

Denver, location of the 2014 NAA Education Conference & Exposition, June 18-21, is one of the nation’s most active development markets and tied San Jose, Calif., for the title of leader in annual rent growth last year, surging 7 percent.

Now, there’s nothing like the tour-de-force that is the property tour, and NAA is excited to announce the return of Property Tours to the 2014 NAA Education Conference & Exposition. Be the first in your organization to sign-up to discover the secret of their success. (And, yes, this is a blatant reference to Thursday Keynote Speaker, legendary actor Michael J. Fox.)

Register now and, for an additional $99, embark on Wednesday, June 18 from 1 p.m. to 4:30 p.m. for the Denver Property Tour (ticketed event). Featured on the trip are Alta City House, Cadence Union Station and AMLI at Riverfront and Verve. Make sure to stay until the end, where Phil Washington, General Manager for RTD will be speaking to the group on the rooftop of Cadence Union Station. About the timeline, goals and anticipated effects of the unprecedented transit expansion based out of Union Station.

Visit the NAA Education Conference website for more information and to register.

Let NAA help you “Reach New Heights” in 2014. More exciting announcements are forthcoming for this can’t-miss event, but no need to wait to register! Remember that the largest discounts go to those who register early. Have four friends? Register as a group to take advantage of even more savings!
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NAA's Designing Spaces Debut on Thursday, Feb. 20

Coming to a television near you, Feb. 20th’s episode of Designing Spaces™ airing on Lifetime Television will feature NAA President and CEO Doug Culkin, CAE, touring Hills Properties’ Palmera Apartments—NAA’s 2013 PARAGON Community of the Year—and discussing the rise in rental housing.

Culkin will be joined by Jordanna Paciorek, CPM, Asset Manager for Edward Rose & Sons, who will offer insight into the luxury amenities that many residents enjoy at high-end communities such as Mason, Ohio’s Palmera Apartments. The segment will also feature a property tour led by Tessa Braun, Property Manager for Palmera Apartments, showcasing Palmera’s most desired amenities and floor plans.

This episode of Designing Spaces will air at 7:30 a.m. EST/PST on Feb. 20 and re-air on March 7 at the same time. Program your DVRs now!
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2013 NAA Survey of Income & Expenses Data Now Available

The 2013 NAA Survey of Income & Expenses is now available. The survey provides some of the most valuable trend industry information.

The survey includes an executive summary, detailed market and national economic analysis, reports and charts about rental communities, as well as national economic analysis. A total of 4,500 properties containing over 1 million units from 45 U.S. states are represented in this year’s report. Data was reported from more than 4,100 market rent properties and 400 subsidized properties. To order, please visit the NAA Store, click on the link for Income & Expense Surveys.
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NAAEI Offers Two New Leadership Programs in April

NAAEI will be offering two new Leadership programs in April, 2014. The NAAEI Leadership Experience: Powered by Dale Carnegie targets regional professionals and corporate department heads who are interested in learning how to lead effectively across generations, delegate tasks to develop and train others and most importantly, find time to work on future business growth. This course will be offered in Dallas, April 1-2. Learn more and register for this course.

The NAAEI Leadership NOW program: Powered by Gallup Consulting targets high-potential corporate executives. Participants will learn how to solve current business challenges by driving employee engagement. The NAAEI Leadership NOW program focuses on tactics for building engagement in a fast-paced work environment and is designed to introduce concepts, strategies, and tools that assist Leaders in building their leadership brand, maximizing strengths and unleashing the human potential within their workplace. This course will be offered in Washington, D.C., April 8-10, 2014. Learn more and register for this course.

For more information on, please contact Kimberly McCrossen at 703-797-0610703-797-0610.
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NAAEI Designation Courses Offered Near You!


Apartment Association of Greater Omaha & Lincoln
March – April, 2014

Connecticut Apartment Association
March, 2014

CAM Online


Apartment Association of Greater Omaha & Lincoln
March – April, 2014


Austin Apartment Association
February – March, 2014

Rental Housing Association of Boston
April – May, 2014

Chicagoland Apartment Association
May – June, 2014

Apartment Association of Southeast Texas
May – June, 2014


Chicagoland Apartment Association
July, 2014


Apartment and Office Building Association of Metropolitan Washington
February, 2014

NALP Online

Find more courses in your area on the NAA website.

For more information about any of the classes listed, please contact Kimberly McCrossen at 703/518-6141703/518-6141 ext. 121.
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February 18, 2014

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Event Highlights

A Career with Growth & Opportunity

Career Growth and Opportunity  

Learn about the perks and benefits of working in residential property management and some of the reasons the industry provides career growth, stability and endless opportunities.