| Message from the President |
I hope you will all take advantage of the opportunity to attend our 2008-2009 Officer Installation and Awards banquet. This year’s event is being held November 10th at 5:30 on the rooftop patio of the beautiful new Star Tower in downtown Orlando.
Valet parking, open bar, hors devours, stunning views of downtown, and entertainment are all included in the price. Due to the intimate size of the venue, tickets will be limited to the first 75 members and their guests who sign up, so I encourage you all to do so without delay.
The topic of occupancy reporting is one that is worthy of mention at this time. I have spoken to people in our industry that have told me their policy is to inflate their occupancy rates when asked by brokers and others who track these numbers.
The practice of giving inflated occupancy causes developers to run numbers that may falsely depict the profitability time line of a given project, and cause them to build when waiting might better serve the interests of everyone.
I urge you to speak with your people to be sure they are giving accurate occupancy data, or simply not reporting data at all. After all, the occupancy rates of your properties are your business and others are not entitled to that information.
It has been my pleasure, and an honor, to serve as your president this year. If you are not already involved in a leadership/volunteer capacity with our chapter, I encourage you to do so. My involvement has significantly impacted my professional life, and I am confident such involvement can do the same for you. If you would like to know more, please don’t hesitate to give me a call.
Thank you for giving me this opportunity to serve, and best wishes to you in the coming year.
Sincerely,
Kevin Grail, CPM
407-701-2003
www.irem60.org
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IREM Celebrates 75 Years:
1933-2008 |
By Linda Jackson, CPM, Vice Chair, 75th Anniversary Work Group
My how time flies … especially when you’re having such fun! And this has been fun. Well, let me clarify that. This has been fun for me. Taking a look back at where IREM began and looking at how it has changed over the decades.
Remember the morning of January 1, 2000? We all looked around and found that we were okay … Whew! Our biggest concern then was what to do with all the supplies we had put together … just in case!
Commercial and residential opportunities during this decade continued at an even faster pace. IREM and its members were there and prepared when those opportunities came a knocking! New IREM membership categories, new plans and many, many new goals were allowing professionals around the globe to gain the benefits of membership in our organization.
Before we all run off to Chicago to CELEBRATE our IREM history and heritage, we’ll take a short trip down memory lane and look at this decade … the … hmmmm….. Well, it’s not “the Thirties.” It’s not “the Sixties.” Actually, folks, the 2000s have no universally-accepted name. Some refer to this decade as the “twenty hundreds” while others refer to it as the “two thousands.” And this could appear in written form as “the ‘00s” or “the 2000s.” But writing “the 2000s” or simply saying “the two-thousands” can cause confusion. Or at least, it all confuses me.
Oh my. Determining a name for this decade has been problematic, especially here in the U.S. There was a U.S. group who attempted to popularize “the Naughties”, but I’m not going there. Suffice to say that there still remains nothing remotely close to a bonafide consensus on what term to use. So … let’s just move on and talk about what has happened since January 1, 2000.
Computers continued to advance rapidly. E-mail had become for many a necessity rather than a luxury. (Although I have another term for E-mail … but again, I’m not going there).
In December of 2000, Montgomery Ward, a retail giant since its founding 128 years before, announced its intention to cease business, citing something about competition from behemoths (can you say Wal-Mart, perhaps?).
In sports news, Tiger Woods became the first golfer to hold all four major golf titles simultaneously by winning the Master’s Tournament in 2001. American cyclist Lance Armstrong won his record 7th straight Tour de France in 2005.
In 2006, in a continuing shift of the retail industry to new and different platforms, the one-billionth song was downloaded from the Internet music store, Apple iTunes. (No, I don’t know what the song was, but I do know I didn’t download it. Did you?)
In television news, Survivor premiered in 2000; American Idol premiered in 2002; Tom
Brokaw and Dan Rather retired in 2004 and 2005 respectively; Will & Grace ended in
2006; and finally, Bob Barker retired as host of The Price is Right in 2007 after 35 years.
Alas, it was sad, but that Drew Carey sure seems to have a good time doing the show
now. (Oh. Someone told me that. I don’t actually sit down and scream out prices! Really.)
Fads, fads, and more fads … we had and continue to have FADS … I’ll just list a few:
YouTube; The Big Mouth Billy Bass (and yes, I do have one of those!); Energy Drinks
like Red Bull, Full Throttle, Monster Energy; Texas hold’em poker; text messaging;
Jared the Subway guy (how can anybody lose that much weight eating sandwiches?
Whatever.); Botox (Yes! It was actually listed as a fad! Right now, it seems a necessity
to me!); Sudoku puzzles, and the final fad that I’ll mention … U.S. flags on cars! And
speaking of that fifty star flag of the United States of America … on July 4, 2007, it
became the longest flying flag in history after flying over 47 years!
So now it seems you and I are at the end of this journey … looking back at the decades
since IREM’s founding in 1933.
Strange, but true, it was in 1933 that Jerry Seigel, an aspiring writer from Cleveland,
Ohio, and his best friend, Joe Shuster, worked together and conjured up the first incarnation of Superman for a self-created magazine. Superman … who one day was found living under the alias of Clark Kent and fighting for Truth, Justice and the American Way.
Although it was by accident that their Superman ended up in the comics, it was by no means an accident that you and I enjoy so many benefits as members of the Institute of Real Estate Management today. Our founding core of 14 men had a vision of what professional and ethical real estate management should look like. They had a vision. They acted on that vision. And you and I are a part of a group of more than 18,000 active members today.
If you haven’t already signed up, made your reservations and booked your flights (you
know, you simply can’t fly through the air like a bird or a plane or Superman) … well, if
you haven’t already booked it all, do it now. Do it faster than a speeding bullet! Get
going!
We will have great fun in Chicago in October, and you really need to be there and
CELEBRATE 75 years of excellence with your fellow IREM Members … and me!!!!
Look me up. I’m the quiet one, standing next to Superman.
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| IREM National’s Latest News |
President Signs Emergency Economic Stabilization Act Into Law
Congress acted quickly to pass the legislation in an effort to repair the U.S. economy. The Senate amended the “Emergency Economic Stabilization Act of 2008” bill and passed it by a vote of 74 to 25 on October 1, 2008. Then, two days later on October 3, the House voted 223 to 205 to approve of the Senate’s changes. Hours later, the President signed the Emergency Economic Stabilization Act of 2008 into law. Provisions of the 451-page law that are of particular interest to IREM Members can be found by clicking here. |
| New Eviction Fees |
The proposed increase to eviction filing fees has passed. This will mean an increase for most of more than 200%. Visit Harry Heist's website to learn how to avoid common pitfalls in eviction filings and save your client money.
Evictions Now That Filing Fees Have Exploded by Harry Anthony Heist, Attorney at Law. http://www.evict.com/?page=legnew0
807#evicosts
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| Featured Friend |
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System Parking
System Parking Inc. has been in the parking business since 1925. Headquartered in Chicago, we have over 250 locations across the country and over 1,200 employees.
System Parking over the years has built its reputation on a quality operation, and a problem solving company; but is most highly respected in the industry for our revenue control in facilities. We have a reputation in the industry for increasing the net revenues to the owners in facilities that we take over from other operators, not just by maximizing the income but also with an eye to minimize your expenses.
We are pioneers in the fully automated parking facilities and have even developed a cd/dvd of how to convert a garage to full automation, eliminating the need for cashiers.
Our Services include, operating self park and valet facilities, parking consulting, valet services, shuttle bus drivers, and recommendations on parking equipment.
I would welcome the chance to meet with you and discuss what we might do with your parking facility with an eye towards increasing the income to the owners, without sacrificing the amenities in the garage.
Additional information on our company can be found at www.systemparking.com
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| IREM Newsletter Information |
Published by IREM Chapter 60
Newsletter Committee
Danielle E. Cooney, CPM, Chairperson
Administrative Office
IREM Florida West Coast Chapter 60
2755 Border Lake Road, Suite 101
Apopka, FL 32703-4857
Attn: Meridythe Kanaga, CPM
admin@irem-centralfl.org
Tel: 407.862.2292, ext. 1004
Fax: 407.862.1819
©2008 IREM Chapter 60.
Design by G&G Advertising. |
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| Calendar of Events |
| November 3-7, 2008 |
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Capstone Track |
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| November 6, 2008 |
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Executive Council Meeting
Facility: Florida Hospital Property Management, Winter Park |
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| November 10, 2008 |
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Installation Meeting
Facility: Star Tower |
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| November 20, 2008 |
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Deadline for news articles |
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| December 1, 2008 |
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2009 Chapter Goals & Budget Due |
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| December 4, 2008 |
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Executive Council Meeting
Facility: Florida Hospital Property Management, Winter Park |
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| November Installation Meeting |
Officer Installation and Awards
Banquet |
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| Date: |
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Monday, November 10, 2008 |
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| Event: |
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Installation Meeting |
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| Time: |
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Open bar begins at 5:30pm |
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| Location: |
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Star Towers map
429 E Jackson St; Orlando, FL 32801 |
This annual event is one that you will not want to miss!! The beautiful views of downtown from the rooftop patio at Star Tower, open bar, hors devours and entertainment will make this year’s welcoming of new officers and recognition of members an unforgettable experience!!
Space is limited so register yourself and guests to avoid missing this event.
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| September Meeting-What you Missed |
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Lynn Ivanek, Development Officer & Courtney Patchin, Development Coordinator
Habitat For Humanity
Our Chapter has actively supported the Habitat for Humanity program for the past 3 years by members volunteering their time to help in community outreach programs.
Lynn Ivanek, gave an informative presentation at the September 9th, IREM Luncheon. The presentation given, really opened the eyes of many IREM members as to what Habitat does for the community. This was a great presentation that also related directly to IREM’s Habitat for Humanity event scheduled for September 20th.
For more information on the local Habitat for Humanity please visit: www.habitat-orlando.org |
| 2008 IREM Income/Expense Analysis Report Now Available! |
With dozens of external factors influencing property values, why base important financial decisions on anything but solid statistics?
Let IREM’s Income/Expense Analysis Reports help you examine, investigate and benchmark your properties. For over half a century, our reports – covering major metro areas and regions in the United States – have provided an insider’s look at current property income and expense trends.
All the Operating Data You Need – Online and Right at Your Fingertips
In addition to the traditional printed format, the new 2008 editions are also available both Excel and PDF file formats for quick and easy download.
Order online or call IREM Customer Relations at (800) 837-0706, Ext. 4650. |
| Job Link-List Your Open Positions |
Now list open positions within your organization FREE! Chapter 60 offers a job posting link free to its members. You can post or search current open positions in all aspects of property management. It’s an easy, effective and FREE tool. List or view available positions today at http://www.irem60.org
/home.cfm?page=Job%20Listings
Our featured open position this month is:
Building Engineer
Company: EOLA Capital
Contact: Rhonda Veasey / Al Miciek
800 N. Magnolia Avenue Suite 204
Orlando, FL 32803
Description: Hands-on building Engineer to join existing tam for suburban office building in Maitland, FL. Minimum 3 years experience in building maintenance with excellent skill set including plumbing, electrical, fire alarm systems and advanced knowledge of HVAC and building automation systems. Candidate must have the ability to work well in a team environment, possess strong customer service skills and be able to work independently. Competitive wage and benefits. Please contact Al Miciek (amiciek@eolacapital.com) or Rhonda Veasey (rveasey@eolacapital.com) at 407-422-7773.
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| Promotions/Moves/Acquisitions |
Congratulations to Strong Management, Inc. of Winter Park, Florida, who acquired a new fee management client Madison/Perry Property LLC, with two multi-family project-based HUD properties in Madison and Perry Florida. They are the 100 unit Tidewater Apartments in Perry, FL, and the 76 unit Madison Heights Apartments in Madison, FL.
IREM members, we want to know about you! Forward information on your promotions and moves within your company and we will be happy to post in our newsletter. All announcements should be forwarded to dcooney@thecontinentalgroupinc.com for insertion in our newsletter.
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| Featured Friend Article - Court to Rule on Workers’ Comp |
By Greg James, Vice President, Insurance Office of America
The National Council on Compensation Insurance announced another rate filing due to become effective next year. The filing calls for an overall rate decrease of 14.1 percent, which would produce a savings of more than $465 million for Florida employers.
If the Department of Insurance approves the rate decrease, it would be the sixth consecutive reduction since the legislature passed the Workers’ Compensation reform in 2003. The overall cumulative savings would be 66.8 percent that Florida employers would receive.
Before the legislative reforms, the state of Florida ranked among the highest in the country for workers’ compensation rates; however, with the success of the workers’ comp reform, Florida has dropped to one of the lowest in the country.
Part of the success of the 2003 workers’ compensation reform was that it limited attorney fees.
Before the 2003 reform, a major problem that existed was the claimant attorney’s were allowed to collect fees that amounted to several times the value of the claimant’s award. The attorney fees were supposed to be based on a percentage of the amount of the claim, but a section of the law permitted the Office of the Judges of Compensation Claims to award the attorney more if they found that the statutory guidelines were “manifestly unfair.”
The 2003 reform placed a cap on attorney fees, thereby removing the discretionary power from the JCC. As a result, the new rules have led to lower claims expense with workers’ compensation settlements.
However, all of this success may disappear if the Florida Supreme Court rules in favor of a case brought by attorney Brian Sutter: Murray Vs Mariners Health. Mr. Sutter argues that injured workers are having their right to equal protection violated due to the capped attorney fees.
In this particular case, an offer of settlement had been made to Murray prior to trial which would have given her more money, but the offer was rejected. During the JCC hearing Murray was awarded $3,244.21 for lost time and medical expenses. Based on the attorney fee formula Mr. Sutter’s fee was $648.80.
Mr. Sutter then filed a petition to deviate from the capped fee formula requesting a fee in excess of $16,000 based on $200 per hour for 84.4 hours of time spent on the case. Instead the JCC awarded him $648.80
The Florida Supreme Court decision will ultimately decide if rates are reduced.
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| 2009 Committee Chairpersons and Members |
As we have celebrated our 75th Anniversary this year we should have all realized the many benefits of being an IREM member and the large impact on the real estate industry. Please don’t hesitate to volunteer for a committee and play a significant role in the future history of IREM. It’s still not too late!!
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National
MEMBERSHIP NUMBERS |
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1/1/08 |
CPM |
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8,642 |
CPM Candidate/Pending |
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3,305 |
ARM |
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3,696 |
Accredited Commercial Manager
Member (new as of 10/1/06)
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11 |
Associates |
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2187 |
Friends |
|
7 |
Students |
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213 |
| Academic Member |
|
25 |
TOTALS |
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18,079 |
AMO Headquarters |
|
507 |
| AMO Branch Offices |
|
589 |
| **Assets under IREM member management $1.5 trillion** |
CHAPTER 60
MEMBERSHIP NUMBERS |
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12/1/07 |
10/1/08 |
CPM |
108 |
104 |
CPM Candidate/Pending |
55 |
58 |
ARM |
36 |
38 |
AMO HQ
|
6 |
3 |
AMO Branch |
18 |
20 |
Associates |
23 |
20 |
Friends |
7 |
9 |
| Students |
5 |
6 |
TOTALS |
258 |
258 |
| Florida Tax and Budget Reform Commission passed CP002 |
By Trey Price, Public Policy Representative, Florida Association of Realtors®
We are happy to report to you that your messages to the Florida Tax and Budget Reform Commission (TBRC) were received. Today the TBRC passed CP 002, which if passed by the voters in November, will eliminate the state’s required local effort for the school portion of everyone’s property taxes in 2010 and place a 5% assessment cap on non-homestead property beginning next year. It allows the Legislature to make up the $9 billion to schools in a number of ways, including raising the sales tax by up to 1 cent. Past-President Nancy Riley, who sits on the TBRC, voted in favor of the proposal.
Make no mistake - today was a historic day, as the vote was a very close 18-7 (17 needed for final passage) to place CP 002 on the November ballot. Since you are a policy making body who have spent countless hours debating and researching tax policy for our state, we thought we would give you a little more detail on the technicalities of the amendment.
If approved by 60% of the voters, this amendment will do several things:
1. Starting in 2009, limit assessment increases to 5% a year on all non-homestead property. This is down from the 10% included as part of Amendment 1 passed in January, and keeps it permanent (Amendment 1’s cap lasted only for 10 years).
2. It requires the Florida Legislature in 2010 to abolish the state’s required local effort for schools. It will be somewhere between $9-11 billion dollars, and that money can be made up in any combination of 4 ways.
a. An increase of up to one percentage point to the sales tax (The Florida statewide sales tax is currently 6%).
b. Spending reductions for other components of the state budget and revenue increases resulting from economic growth attributable to lower property taxes.
c. The repeal of sales tax exemptions, but not including food, health services, prescription drugs, the sale of real property, and items for resale.
d. Other revenues identified or created by the Legislature.
3. This will result in lower property taxes between 25-50%, depending on where you live in Florida. More simply, it does away with the “School Board” portion of your property taxes, though local school boards will retain a very small amount of discretionary taxing authority.
You can read the proposed amendment for yourself here: www.floridatbrc.org/pdf
There is and has been concern in the public arena that passage of CP 002 could lead to a services tax. The FAR Public Policy Committee debated this at the April meeting, concurred that this is NOT a mandatory services tax, and offered support. This bill WILL potentially force a review of sales tax exemptions and exclusions and it is possible that some goods and services not currently taxed could ultimately be taxed in the future. However, FAR is prepared to defend exemptions and exclusions important to the real estate industry.
Other significant property tax-related proposed constitutional amendments were officially sent to the ballot today, including CP 004 (allowing assessment at less than just value for storm-hardening home improvements); CP 006/008/034 (allowing assessment at less than just value for working waterfront properties); and CP 15/16 (allowing assessment at less than just value for conservation land). At the last minute, Commissioner Randy Miller, the sponsor, withdrew from further consideration a proposed constitutional amendment to force Florida into the internet sales tax compact with other states. All of these amendments will likely be supported by FAR this fall.
Formal action will likely await the State and Local Taxation Subcommittee at September’s convention. To review these other proposals, you can click on the TBRC’s website, here: www.floridatbrc.org. Click the “meeting materials” section on the left and look at today’s agenda.
Today’s action was a big victory for Realtors, property owners struggling under crushing tax bills, and businesses that will see their tax bills limited by a lower, permanent assessment cap. Most importantly, Commissioners heard your voice and decided that sending this and other important proposals to the November ballot was the right thing to do.
Thank you for being a part of the solution to this property tax problem. Please look for other possible calls to action next week, as session winds down and several property tax proposals need your voice to urge final passage. Stay tuned to the FAR website at www.floridarealtors.org for more updates.
Please feel free to contact us if you have any questions! |
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