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Boca's Missing Bridge

Last week Boca Raton’s Housing Authority faced a near riot as applicants literally camped out (some overnight) in hopes of securing a housing voucher. This incident shockingly demonstrates that the demand for housing in our region is clearly strong. But- this is the side of the market that is obviously linked to subsidized apartments that cant seem to satisfy a seemingly desperate demographic.

Palm Beach County and in this case Boca Raton is constantly facing occupancy challenges , and will only get tougher during the traditional summer season as the snowbird population migrate north. The evidence is the increased dawning of large bright street signs at “A” rated luxury apartment communities, shouting move in specials. Unfortunately, the signs usually generates the polar opposite of what was set off by a mere announcement of voucher applications- that drew Christmas sale like lines to the doorstep of the city’s housing leaders.

There is obviously something missing here, something that requires a bridge between the two markets.

The riot police, the comments from desperate residents, the shocking video of people swarming makes for interesting media content, but the true story is once the cops and cameras are gone the Boca Raton Housing Authority will remain in the spotlight.

SEFAA Legislative Breakfast Meeting

Speaker: Jeff Rogo, Florida Apartment Association (FAA) Government Affairs Director

Wednesday, March 19, 2008 9:00 am - 10:30 am

Deerfield Beach Hilton 100 Fairway Dr., Deerfield Beach, FL 954-427-7700

Issues impacting the bottom line of Florida apartment communities will be discussed. These include early termination, fire alarm monitoring, rental inspection preemption, mandatory telecommunications access, licensing for apartment personnel, mandatory background checks, sexual offenders, and more. As we approach our annual trip to Tallahassee to speak with legislators, April 2 - 3, we want to share these important issues with you.

Download the registration form and invoice.

Renter's Dilemma

One night last fall, a process server went to Dan Dixon's house and gave him papers informing him of the foreclosure. Dixon stands in front of the house he continues to rent even though the bank has foreclosed on the owner. He is moving soon.

Tenants: Be aware of landlords facing foreclosure

BY SCOTT ANDRON MiamiHerald.com

The following headline has become the best leasing point of a rental community-
Landlords have always asked potential tenants about their financial situation. But in today's housing market, renters may need to ask if potential landlords are facing foreclosure.

While South Florida's falling housing prices may favor renting rather than buying right now, the recent real estate bubble is also creating new risks for tenants.

Plenty of homes and condos are available for lease because their owners can't sell them, giving renters a variety of options. The problem is that many of the owners may not be on steady financial footing.

If they end up in foreclosure, tenants can be kicked out -- despite having a lease.

''That's happening. A lot of people are losing their homes,'' said Samira Ghazal, a Miami consumer lawyer. ``They don't know if the landlord is paying the mortgage or not. Then they end up getting evicted.'' Read more

Who's Missing In Florida's Anti-Foreclosure Task Force?

The threat of homelessness has always loomed over struggling homeowners in our region, and often the only true safety net for families is a well managed affordable rental community. So when I read the credentials of the members of Gov. Crist appointed Anti-Foreclosure Task Force I was at the very least disappointed with the lack of representation from the Multi-housing industry leadership(FAA). Below are ideal candidates for Gov. Crist's consideration- (left to right) Marc Rosenwasser NAA Vice Chairman, Dave Watkins CAPS NAA Immediate Past Chairman of the Board , Mark Ogier, CPM President of FAA.



Task Force Members:
Florida Chief Financial Officer Alex Sink
Lt. Gov. Jeff Kottkamp
Sens. Bill Posey, R-Rockledge
Tony Hill, D-Jacksonville
Reps. Franklin Sands, D-Plantation
Garrett Richter, R-Naples
Alex Sanchez, president and CEO, Florida Bankers Association
D. Ritch Workman, president, Florida Association of Mortgage Brokers
Mike Fields, president, Bank of America Tallahassee
Thomas Kuntz, chairman, president and CEO, SunTrust Bank, Florida
Nancy Riley, past-president, Florida Association of Realtors
Bill Newton, executive director, Florida Consumer Action Network
Steve Auger, executive director, Florida Housing Finance Corp.


In 2007, Florida ranked second in the number of home foreclosures, with twice as many foreclosures than in 2006. In addition, one out of every 95 households experienced foreclosure in the state last year, a more than 275 percent jump when compared with 2006. I truly believe that the Multi-housing rental industry has without a doubt served as refuge for so many of the Floridians counted in these statistics and our industry's perspective will be necessary to make this initiative a true success.

Faces In The Crowd At Trade Show

Property Managers Kathleen & Frank Heather Geraci, Regional Director of Adventir Real Esate Management & SEFAA Exec Board Member

The Apartment Guide Team - Featuring SEFAA Exec Board Member Susan Harding (in white)

For More Faces Click Here

No More Excuses

By Andy Reid | South Florida Sun-Sentinel


After South Florida's driest back-to-back years on record, a new Web site aims to teach residents and businesses how to save water beyond just turning down sprinklers.

At www.savewaterfl.com, the lessons and tools include adding food coloring to toilet tanks to check for leaks, a "water audit" for users to gauge their water use and tips for planting landscaping less dependent on water.

"What we are trying to do is promote a culture of conservation. This is one of the tools we are going to use," district spokesman Jesus Rodriguez said. The Web site includes pages geared toward residents, businesses, agriculture, government, teachers and the news media.

Another Reason To Rent In Miami

Wednesday, February 13, 2008 - 3:59 PM EST
BankUnited blacklists 191 condo projects

South Florida Business Journal - by Brian Bandell and Oscar Pedro Musibay

Interested buyers looking for mortgages to buy units in Miami's Opera Tower, Everglades on the Bay or Four Ambassadors shouldn't bother approaching BankUnited. The Miami-based bank has included them on a list of 191 condo projects it won't write loans for.

Declining market value was the biggest culprit, followed by high investor concentration -- as much as 70 percent in one case. BankUnited also cited numerous foreclosures, delinquent homeowners association dues, structural-based litigation and the bank's existing exposure in the buildings.

Even buyers with good credit can't get a mortgage for a condo that has an uncertain value, said Lewis Goodkin, president of Miami-based Goodkin Research. He said because sales have been so slow and 35 percent to 40 percent of buyers could pull out of contracts in some buildings, no one knows the real value of these condos. And, if lenders don't know the value, he said, they can't set a loan-to-value ratio with any certainty.

BankUnited's non-permissible condo list

Fair Housing Seminar 2008

Its always a full house at this event, and this year I can just imagine the range of topics that the Lowenhaupt & Sawyers team must cover. For more info or to register--lowenhauptsawyers@yahoo.com. (305) 412-5636

Friday February 15th 9am

Signature Grand
6900 State Road 84
Davie, FL 33317
Tel: (954) 424-4000
Fax: (954) 423-2400

How TV May Influence S. Florida Cultural Tolerance

The recent Broward County commission vote that has put Transgender rights in full public view may represent the evolution or influence of tolerance in South Florida. As it relates to gender or the transformation of it, arts and entertainment especially television can provide society a less prejudice perspective. Cultural perspectives influenced by;the Cosby show of the 80's, Margaret Chu's short lived sitcom, Will& Grace, The George Lopez show and more recently ABC's Dirty Sexy Money that has boldly casted an actual transgender character when tastefully done can convince audiences to identify with commonalities of other cultures, rather than confirm prejudices and stereotypes.

Transgender residents protected in Broward

By BREANNE GILPATRICK
bgilpatrick@MiamiHerald.com

Transgender people and pregnant women are now protected groups in Broward County after the County Commission voted to make it illegal to deny housing or jobs to those two groups.

With Tuesday's vote, Broward joins a growing number of local governments across the nation to include ''gender identity and expression'' in their non-discrimination laws. And the two new criteria will join 11 other categories in the county's Human Rights Act, such as gender, race, color, marital status and sexual orientation.

And Tuesday, one-by-one, more than 20 speakers took the podium and praised commissioners for adding Broward to the list. And many of them arrived before the county to share their own tales of discrimination, like LeAnna Bradley, who talked about what it was like to have paramedics refer to her as ''it'' while riding to the hospital. Or Jacqui Charvet, who lost her job after telling her boss she was going to start the medical process to become a woman. Or Nikki Hatch, who described receiving stares, rude comments and even, at one point, a mail bomb.

There are no statistics that track the number of transgender people. But advocates estimate that between 3 and 5 percent of people in Broward County struggle with gender identity. Many of those who decide to make a transition, say advocates, face trouble with employers and landlords.

While no one spoke against the changes on Tuesday, in the past, critics say the new laws are not needed and say they view it as wrong for transgender residents to try to redefine gender.

Golf Cart Tragedy

Over the years, I've probably driven the distance of the entire state of Florida on golfcarts. Its simply the way we do most of our business at gardenstyle apartment communities. So, after reading about a woman in Wellington on life support after falling of a golfcart it instantly provided me with a new and more cautious perspective. Below is the story as reported in the Sun-Sentinel By Sally Apgar

February 5, 2008 Wellington - A 43-year-old Connecticut woman is on life support after falling off a gas-powered golf cart following a Super Bowl party Sunday night, according to the Palm Beach County Sheriff's Office.

Audrey S. Hanrahan, of South Glastonbury, Conn., was leaving a party at Tavern on the Green restaurant just after 11 p.m. with two friends. Investigators said the cart, driven by Christine McCrea, 29, of Wellington, was traveling east on Equestrian Club Road with Hanrahan in the front passenger's seat and McCrea's husband, Jonathan, 35, riding on the back seat. Near Pierson Road, Hanrahan stood up to wipe off the windshield, lost her balance and fell, striking her head on the pavement.

Hanrahan was flown by Trauma Hawk to the Delray Medical Center, where she was treated for severe head injuries. At 1:36 a.m. Monday, she was placed on life support to preserve her organs for donation.

Vote To Veto

Originally Posted Sunday, July 1, 2007

A bill proposing double rent that eventually met a single no.

It seems as if Gov. Crist has the final word on the ambitious (HB 1277)Early Lease Termination bill that attempted to give property managers the right to instantly charge up to 2 months rent as a fee for breaking a lease.
Florida Apartment Association lobbyist Ron Book vigorously promoted the infamous "double rent bill" at a recent press conference arguing its benefits to tenants. The current law holds renters responsible for the remaining term of a lease, or until a unit is re-rented.

The legislature favored the new bill so much that in May of '07 the it passed with flying colors through the state senate with a unanimous 37-0 vote. Ultimately, it met a swift veto from Gov. Crist. A well documented but interesting fact is that up until his impressive election victory, Crist was one of the state's estimated 5.4 million renters. "I had to do that(break a lease) when I moved into the mansion. And it was costly - like 900 bucks," Crist said. "I feel the people's pain. I live it."

In its memory here's a clip that I couldn't resist posting that may shed a little light on the short life of an ambitious bill. Enjoy!

A Little Fumble Before The Big Game

I feel as if my leasing team and I dropped the ball in recent days. Largely because
Super Bowl Sunday is this weekend and I cant help to think that somehow a little bit of fan fare could have helped us standout amongst our competition. I'm not suggesting anything outrageous like a Budweiser keg in the middle of the leasing office or dressing up as NY Giants cheerleaders. Instead I'm thinking more along more the lines of a team spirit theme: wearing football Jerseys, replacing cookies and French vanilla coffee with chips,pretzels and coke while replaying halftime "PG" rated shows of past on the clubhouse TV.

Its hard for any of us to plead ignorance in this case especially when considering last year when South Florida hosted Super Bowl XLI and we all salivated over the estimates of $400 million dollar boost to our local economy. So not only am I surprised at myself for forgetting to resurrect the spirit of last year's bowl- I'm trying to figure out why it seems the entire region (with the exception of Publix) has fumbled too.

Candidates as Residents

I'm beginning to see the Presidential candidates in ways that just weeks ago I couldn't imagine. I guess its a side affect of paying more attention in preparation to carry out my civic duty in the upcoming primary. . . blah, blah, blah.

Anyway, its really tough to decide, and I'm not just talking about choosing an individual candidate or party, but an authentic person I could believe in to lead our country. So I got to thinking. . . and figured I'm looking at this all wrong. Why not use my highly evolved property management abilities to help me select the right candidate. In fact this method might even make it easier for all of us Apartment Industry/multi housing pro's to vote with clarity.

So I finally asked myself---What type of resident would each candidate make? With this simple question I was able to evaluate each candidate with much more confidence.

P.S. heres my answers, whats yours?

Hillary- Likely to be the resident that insists on being present to oversee a service request (even if Bill is home)

Mitt- Likely to complain about limited parking spaces

Barack- Hangs around the clubhouse after work to watch Oprah

McCain- Typical retiree veteran that walks his miniature poodle every morning like clockwork 0600 hours sharp!

Edwards- Constantly threatens to sue his neighbor McCain for "excessive" dog barking every morning at exactly 0600 hours.

Guliani- Quintessential snowbird/empty nester that cant stop comparing New Yawk to Floridah

Huckabee- Is likely to face eviction for the weekly classic rock jam sessions

Casino Night! SEFAA Does Vegas....

The best remedy for those holiday credit card hangovers has to be this year's Casino Night brought to you by SEFAA.

Wednesday, January 30, 2008

6-10 p.m.

CORT Furniture Showroom, Boynton Beach

Blackjack, Texas Hold Em, Craps, Roulette, with professional dealers and despite what you may have heard their will be NO strip poker tournaments.

Click here for more details.

Cooling Your Heels

From the golfcart to maintenance shop, walking vacants, and touring perspectives-- the demands we put on one of our most dependable body parts can now relax. Introducing Camileon Heels the convertible and fashionable shoe thats attempting to revolutionize the comfort for women in business.

I find the style of the shoes fresh and modern, but the true beauty is in its ability to convert from a low to high heel. My only hangup,is the price tag that ranges from $200-325, Ouch! At that price I can only hope that the concept of the shoes find its way to our salaries and bonuses .

Home Sellers’ Pain Is Renters’ Gain

By NICK TIMIRAOS
From the Wall St. Journal January 15, 2008

There’s one bright side to the housing crisis: some lower rents.

The regions hardest hit by the housing downturn have seen ailing builders, rising foreclosure rates and a glut of unsold homes, amid other signs of distress. But there are also stories like Laura Evans’s.

The 38-year-old elementary-school teacher moved to Stuart, Fla., from Orlando with her husband and baby last fall. Looking for a rental apartment, they were pleasantly surprised: There were plenty of choices at lower-than-expected prices, thanks to the multitude of owners trying to rent units they couldn’t sell.

“When we got down here, we shopped and shopped around,” says Ms. Evans, who rented a new 2,200-square-foot, three-bedroom townhouse with a pool and a playground for $1,150 per month. The owners allowed the couple to move in with their dog, despite a prohibition against pets.

To be sure, rents have continued to rise steadily in many markets. And the housing downturn means that more people are looking for rentals as well, increasing demand. Many would-be buyers have become renters because they can’t get a mortgage in today’s tight credit environment, or because they’re sitting tight in hopes that prices drop further.
…
Behind the trend are tens of thousands of unsold condominium units that are being dumped on markets such as South Florida, Las Vegas and Phoenix. While thousands of single-family homes also are coming on the market, renters prefer condos to houses, which typically have more expensive upkeep. “Tenants have to pick up more of the bills,” says Artur Ciesielski, a Phoenix real-estate agent.
…
More than 4,200 units have been pulled out of the for-sale condo market and put into the rental pool in Florida’s Palm Beach County alone, according to Mary Grace Breeding, president of McCabe Research & Consulting in Deerfield Beach. Those units include the 216-unit Aventine at Boynton Beach and the 450-unit Mizner Court at Broken Sound in Boca Raton, where rents range from $975 to $2,000.

Nor are so-called condo reversions limited to the Sunbelt. In Brooklyn, N.Y., two luxury condo developments converted to rental apartments last spring, including 99 Gold Street, which had begun accepting sales contracts less than a year earlier. Rentals at the 88-unit building range from $2,000 a month for 700-square-foot studios to $5,500 for two-bedroom penthouses.
…
Savvy renters in struggling markets are playing landlords off each other. Ms. Evans, of Stuart, Fla., says the same day she and her husband leased their apartment for $1,150 a month, the owner of a bigger home they had looked at called to lower his asking price from $1,500 to $1,200. “If he had called earlier, we would have taken it,” she says.
…
Housing experts predict that many would-be home buyers may be forced to rent for years because the relationship between rents and home prices are out of whack. Rents remained at around 5% of home prices throughout much of the postwar period, but beginning in 1996, home-price growth rapidly outpaced rent growth. By the end of 2006, home prices had more than doubled while average rent was up just 48%, driving down the annual rent/price ratio to 3.48%.

A study by one former and two current Federal Reserve economists suggests that home prices will have to fall by 15% over the next five years while rents increase by 4% a year to return that rent/price ratio to normal.

Rolling Into 2008

Happy 2008! Its been almost 2 months since my last posting and I blame it all on that avalanche referred to as the holiday season. The shopping, the parties, the food and of course my personal contribution to national debt has made it almost impossible to update this blog and fully launch its sister blog Rent Roll and Recruit. But it’s a New Year and I’m ready to get back to business.

Overall my holiday season was pretty good, and one of the best and most surprising gifts was a noticeable up tick in occupancy throughout our region despite the notoriously slow December market and I’m loving it! Wrapping up a sluggish and unpredictable 2007 on such a positive note. I can only hope its an indicator of what to expect as we roll into 2008. Stay tuned!