Fill the Stands With Cans! and Matt’s Run to Fight Hunger

PTAA’s annual summer drive to collect food for Second Harvest Food Bank of NWNC kicks off over the next week and we’d love to see all of our apartment industry friends get involved. Here’s a couple of ways you can do so in the immediate future:

 

Fill the Stands With Cans! on July 9-10

Hoppers9
Register

Dash10

Register

We have partnered with the Greensboro Grasshoppers, Winston-Salem Dash and WXII to help collect food and cash for Second Harvest during two games next week. The first is July 9, 2015 at the Greensboro Grasshoppers and the second is July 10, 2015 at the Winston-Salem Dash. Here’s how you can get involved:

Volunteer to collect food/money at the gates for either game. Just email us at info@piedmonttaa.org to register or call the office at 336-294-4428.

Take advantage of the private boxes we’ve secured at each game and attend with your coworkers, family and friends. The price is $35/person and includes all the food you can eat, and there’s also the advantage of being able to hang out in a sheltered box so no worries about the humidity. In addition the Grasshoppers Game has a ‘Thirsty Thursday’ promotion and the Dash will have fireworks after the game. Make sure to register today! Hoppers RegistrationDash Registration

Matt’s Run to Fight Hunger, July 4, 2015

Matt Ketterman, a PTAA Board Member and long-time supporter of Second Harvest Food Bank of NWNC, is once again hosting his 5K/10K to raise food and money to fight hunger. There’s no entry fee for the race, but he does request that you make a donation to Second Harvest. The run is Saturday, July 4 at 7:00 a.m. and starts at Fleet Feet in Greensboro (3731 Lawndale Drive).

June 30, 2015 at 3:19 pm Leave a comment

Supreme Court Upholds Disparate Impact Liability

You’ve likely heard about the Supreme Court’s ruling in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., but in case you haven’t here’s the info we’ve received from the National Apartment Association‘s Greg Brown:

The U.S. Supreme Court today decided to uphold disparate impact liability under the Fair Housing Act, a legal theory that prohibits neutrally-applied practices with a disproportionate impact on minority groups protected by the law, even without proving an intent to discriminate. The 5-4 decision in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. also emphasized limitations on the policy, stating that neutrally-applied practices should not fail on disparate impact grounds unless they are “artificial, arbitrary and unnecessary.”

Importantly, the majority opinion highlighted limitations on disparate impact liability to allow “practical business choices and profit-related decisions that sustain the free-enterprise system.” Leeway must be given to housing providers to explain the validity of their policies. Further, a disparate impact claim is not demonstrated by statistical disparity alone. A claim must show that a challenged practice actually caused a disparate impact on a protected group, and the availability of an “alternative practice that has less disparate impact” to serve legitimate business needs.

We are currently conducting a detailed analysis of the Supreme Court’s decision and will continue to seek further clarification on disparate impact liability.

We will keep you updated as we learn more.

Update 6/30/15:

NAA has just added some excellent reference links on this issue:

Commentary: Supreme Court Affirms, Narrows Disparate Impact Liability Under Fair Housing Act

Holland & Knight: Fair Housing Act Prohibits Policies and Practices Causing a Disparate Impact

Ballard Spahr: In 5-4 Decision, U.S. Supreme Court Recognizes Disparate Impact Liability

 

 

June 29, 2015 at 7:43 pm Leave a comment

Op-Ed Highlights Importance of Renters Insurance

An op-ed in the Winston-Salem Journal in response to an apartment fire in the city highlights the importance of renters insurance:

Investigators are looking into the cause of the fire. Residents are trying to go on with their lives, but that’s not easy. Property manager Lou Baldwin told the Journal that his company would return residents’ security deposits and June rent, so they could move into other apartments. That’s a start, at least, for residents like Samuel, who lost everything in the fire.

“It’s my first apartment,” he told the Journal. “Everything my son owned, I owned, my girlfriend owned – everything we owned is in the home and we have nothing at all. We’re starting from scratch, and it hurts a lot,” he said.

A sad reminder of the importance of taking out renter’s insurance.

June 19, 2015 at 3:18 pm Leave a comment

Map Showing Median Rents for 1BR Apartments in NYC

Rent rates are up nationwide, but rents in some major metro areas can make those of us in other areas of the country gape in awe. Check out this map of the median rent for 1 bedroom apartments in New York City:

June 18, 2015 at 1:38 pm Leave a comment

Update to Summary Ejectment Requirements in Forsyth County

Last month we passed along some information from the Forsyth County Clerk of Court regarding filing for summary ejectments:

Originally the Clerk was requiring the filing of a completed affidavit that they had developed for this purpose (found on their website at this link) but after meeting with her we were able to determine that members could visit the US Government’s SCRA website (found here) at which they can confirm the military status of any person, print the results and staple them to the complaint or bring it with them to court.

We asked for some clarification on timing and received the following via email from the Clerk after she checked with the District Court judge: How many days would the Status Report be acceptable? For the duration of the case was her answer. Presenting the Status Report or Affidavit at the time of hearing and not at filing is acceptable. She is meeting with magistrates and conveying these same issues with them to have consistency. 

So in a nutshell, what you can do is either use the affidavit provided by the Clerk or you can print off the results of the search from the SCRA website. You can attach the affidavit or printout to the complaint or you can bring it with you to court.

Unfortunately we received word today (6/10/15) that the courts have decided that affidavits will be required from now on in Forsyth County. Also, we’ve heard that the same is true in Mecklenburg County so our members who have properties there should be prepared to file an affidavit there as well.

As we learn more we will keep you updated.

 

June 12, 2015 at 3:00 am Leave a comment

Bell Sells Three Triad Properties as Part of Larger Deal

Bell Partners recently sold eight properties for $140 million to a New Jersey-based firm and three of those properties are based in the Triad:

A New Jersey-based firm has purchased three Triad apartment complexes from Greensboro-based Bell Partners Inc., an apartment investment and management company, for $67 million.

The sale of Steeplechase at Adams Farm and Park Forest in Greensboro and Deep River Pointe in High Point was part of a larger sale by Bell of eight properties — five in Arkansas — for more than $140 million. Bell Partners will continue managing the North Carolina properties.

According to the article Bell will continue to manage the three Triad properties.

June 10, 2015 at 3:34 pm Leave a comment

Future Looks Good for Apartment Industry for Years to Come

From the 6/8/15 Wall Street Journal:

The U.S. homeownership rate is below where it stood 20 years ago when President Bill Clinton launched a national campaign to encourage Americans to buy homes. Conventional wisdom says the rate, at 63.7%, is leveling off to where it was for decades before the housing-market peak.

But this is probably wrong, according to research from the Urban Institute, which predicts homeownership will continue to slip for at least 15 years.

Demographics tell the story.

Urban Institute researchers predict that more than 3 in 4 new households this decade, and 7 of 8 in the next, will be formed by minorities. These new households—nearly half of which will be Hispanic—have lower incomes, less wealth and lower homeownership rates than the U.S. average.

The upshot is that fewer than half of new households formed this decade and the next will own homes. By contrast, almost three-quarters of new households in the 1990s became homeowners.

The downtrend would push homeownership below 62% in 2020, and it would hold the rate near 61% in 2030, below the lowest level since records began in 1965.

You really should read the whole article. A couple of people who disagree with this assessment are quoted, but even they see the rate of home ownership stabilizing and staying lower than it was before the recession. There’s also some discussion about the impact on housing affordability, and interestingly it’s led by Ron Terwilliger who was the keynote speaker at this year’s Apartment Association of North Carolina education conference. He has some interesting ideas about reducing the mortgage deduction and moving some of those dollars over to help with rental housing. That would be a political hot potato, but it’s a sign of how different times are these days.
All in all, those signs bode will for the apartment industry from years, maybe even decades to come.

June 9, 2015 at 7:42 pm Leave a comment

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