President's Message

It's hard to believe that we're through the first quarter of 2005 and well into the second. It's been busy. We've had two membership meetings; the January meeting was an evening get-together, a first, with our industry forecasting. If you did not attend the meeting you can still get the information at our Web site. I want to thank Lou Nimkoff and his staff At Brio Properties for putting together the material. At that meeting it was my pleasure to welcome our newest ARM, Kendra Strebeck of "The Springs". Our March membership meeting was well attended. Our guest speaker fromOrlandoInternationalAirportdivulged some very interesting facts regarding just what it takes to keep the airport running smoothly. I want to thank President-elect Ann Reisch for running the meeting in my absence. We also had two very well attended educational offerings in this first quarter. Thanks to Delia Cook for facilitating the year's first ethics class. This is, I believe, the second ethics course she has taught for the chapter. The RES 201, taught by Robin Stinson, was well attended by many who came from out of state. Robin is just one of four national faculty members from our chapter, and she will also be succeedingJay Windsoras Region Four V.P. later this year! Since we last wrote Ann Reisch, I and other committee members attended the legislative conference in April inWashingtonD.C.This was a great conference which concluded with a day on Capitol Hill meeting with our elected representatives. Our membership meeting was on May 10th and was hosted by our Friends of IREM. We also welcomed three new CPM’s – Sue Harker, Helen MacLennan & Shannon Mitchell. Congratulations on a big accomplishment

Thank You,

Scott Pollock, CPM
President, Chapter 60

 What do IREM and CCIM Have in Common?

Our very own RVP,Jay Windsor.

On April 20th, over 320 members of IREM, the CCIM Institute and the REALTORS® Commercial Alliance joined in to visit Capitol Hill Day. Members of these organizations lobbied on behalf of the commercial real estate industry. Members voiced industry concerns on banks in real estate, small business health plans, terrorism insurance, Real Estate Mortgage Investment Conduits (REMIC) and Tax reform in over 200 separate meetings withU.S.senators and representatives.

Thanks to our members' hard work and dedication throughout the year's lobbying on behalf of the commercial real estate community, Congress recently passed legislation in our favor reforming bankruptcy and class action suits (tort reform). Members thanked legislators for their support and key votes in making these victories a reality during this visit.

Representative Ken Calvert, a small business owner in the restaurant and real estate industries, who represents the 44th Congressional District of southernCaliforniawas honored with the Legislator of the Year Award. Members of these organizations presented his award on the steps of Capital Hill. His extensive voting record and long-standing support of the real estate industry was one reason he was chosen as the award recipient. Rep. Calvert is a champion in the House for keeping the banks out of real estate brokerage and property management.

Get more information and photos on the IREM web page. www.irem.org.

Talk About FRIENDS...

Do you sometimes wonder who your friends really are? Well, IREM Chapter 60 knows who theirs are.

During the week of March 14th, Chapter 60 held the RES201 class at FlexxSpace inOrlando. This particular class is a full week long and provides the education requirements for those who desire to attain their Accredited Resident Manager (ARM) certification. In order to make the class a more diverse and worthwhile learning experience, it is typically taught by two IREM faculty. However, due to some scheduling conflicts there was only one instructor available, me.

It was then that the FRIENDS and talent of our local chapter was called upon to assist with providing some diversity and expertise in their areas as related to the course work.

Ann Reisch, of FlexxSpace, presented some great insight on Risk Management and Liability. Her "real world" examples of some costly mistakes were real eye openers and helped the students understand some ways to mitigate risk for their owners.

Scott McCurdy, principle of Coastal Reconstruction, was extremely helpful in providing a great deal of information on what to expect from your reconstruction contractor. He was especially insightful on the importance of developing those relationships prior to a disaster, so in the case of one, you have priority.

Mark Cady, business development manager of Renderings.com/ G&G Advertising, wowed us with insightful marketing tips and their newest virtual renderings. You have to see this.

Christian Engle, principle of Commercial Air and Electric, brought "new light" to our understanding of luminaries and foot candles. His presentation provided some solid statistics on what should be expected from your lighting. He brought some really nice ideas on lighting options and where to get them.

The students were delighted with the information that was provided by these professionals, and it certainly assisted me in providing a wonderful learning experience.

A special thank you to FRIENDS indeed!

Robin Stinson, CPM

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 Win $2500

It only takes one….one what you say? One application for IREM membership with your name on it could land you a sweet $2,500 in American Express Gift Checks. Do you know someone who could benefit from the opportunities IREM membership can offer? Encourage them to apply.

Get all the details of how you can help a colleague create new opportunities. Grow your professional organization. Earn your chance to win great cash rewards.

Visit www.irem.org and read about the Member-Get-A-Member 2005 Rewards.

 Sold Out...

If you didn’t sign up, you are OUT OF LUCK! For now anyways. Yes, the IREM ASM 600 series, held this month inOrlando, sold out. This is a first for our regional educational program. These students received the most up to date information and tools to use as they work to maximize profit in the real estate they manage.

One of the highlights of the course is the new cash flow Excel worksheet that takes you from a simple one year NOI calculation to the ability to determine your investment value for 5+ years. Entering some basic information translates into DCF, NVP, IRR and all the other financial analysis one needs to apply to achieve the highest potential income for your asset.

There were 19 students enrolled for all or a portion of the week. The majority of these real estate professionals came from out of town with one local professional with United Dominion.

The next local offering of this series won’t be until 2006 but watch for the dates in the IREM Education catalog and of course we will keep you posted.

 It’s Not Too Late

You still have time to sign up for the IREM Regional Leadership Conference. Join us for fun and learning August 25 & 26 at the fabulous Renaissance Vinoy Resort and Golf Club inSt. Petersburg,FL.

We promise you that this will be one eventful conference packed with ideas, information, and tools that will promote you.

 Defaults Under Commercial Leases

Managing the default of a commercial lease is often a complex and anxiety ridden endeavor. Gary Salzman has provided us with a series of articles (step by step guidance) on this process. These articles will run over the course of the next few months.

By Gary Salzman

Waiver of Defaults

By accepting of the full amount of rent that is due with knowledge of the tenant’s breach of the lease for nonpayment of rent, the landlord will be deemed to have waived any right to terminate the lease and retake possession of the premises as a result of the tenant’s failure to pay rent. This statutory waiver follows the common-law rule that a party to a contract may waive a default thereunder by express agreement or by conduct.

However, most leases contain "anti-waiver" provisions stating that the landlord’s acceptance of any rent or any act of forbearance shall not be deemed a waiver of any rights that the landlord has as of that date. Notwithstanding an “anti-waiver” provision, at least one Florida court has held that the landlord’s acceptance of late rent was not only a waiver of the tenant’s default for failure to pay rent, but was also a waiver of the anti-waiver provision itself. In that case, however, the landlord accepted the late rent payments without protest and never notified the tenant that it was in default of the lease.

Florida’s parol evidence rule also provides some protection against a party to a lease alleging that its terms were waived by an oral agreement. The rule is, that if the terms of a contract are unambiguous and the contract is a complete agreement, those terms are not subject to modification, variance or contradiction by parol (oral) evidence. If the lease agreement is ambiguous as to the parties’ intent on the subject matter in question, parol evidence will be admissible on the issue. Since the rule only applies if the parties’ agreement is unambiguous and complete, it is important that the lease expressly state that it is "the entire agreement between the landlord and the tenant and all other oral or written understandings and agreements are merged into the lease and are deemed void."

 Congratulations & Thank you

Please join us in congratulating Mez Birdie and Central Florida Chapter 60 (Orlando) for winning “Most Improved Chapter for Income and Expense Submissions”. This is no easy task as there are 89 chapters in theU.S.

On April 20, 2005 at the Leadership & Legislative Summit inWashingtonD.C., your efforts and diligence landed us this award. For more years than I can remember Mez Birdie has chaired the Income and Expense Committee for our chapter. He never misses a beat and continually convinces all of us to submit our information.

A big “thank you” to all of you! Watch for your free copies if you submitted your data.

 Just Some IREM Facts…

• 8,671 CPM’s
• 2,289 Candidates
• 3,763 ARM’s
• 1,764 Associate Members
• 532 AMO Headquarters
• 606 AMO Branches
• 89 Chapters: 81U.S.and 8 International
• 75 Elected members

 Important Links

IREM CentralFloridaChapter #60 Important Links:

 IREM Newsletter Information

Published by IREM Chapter 60 Newsletter Committee
Robin Stinson, CPM, Chairperson
Jorge Benitez, Co-Chairperson

Administrative Office
IREM Chapter 60
2755 Border Lake Road, Suite 101
Apopka,FL32703-4857
Attn: Meridythe Kanaga, CPM, LCAM

admin@irem-centralfl.org

Tel: 407.862.2292, ext. 1004
Fax: 407.862.1819

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