distressed properties attracting investors in nevada

Download Distressed Properties Attracting Investors in Nevada

Post on 27-Mar-2016

220 views

Category:

Documents

1 download

Embed Size (px)

DESCRIPTION

Ongoing Single Family Problems Aide Growth in Nevada, Especially Las Vegas

TRANSCRIPT

  • A Magazine for Nevadas Multi-Housing Industry

    JULY | AUGUST 2012

  • 3JULY | AUGUST 2012

    IN THIS ISSUENews & Updates 4 Execu ve Directors Message 9 Upcoming Events: August | September 2012 16 NSAA Texas Hold Em Poker Tournament 18 Pla num Sponsors Spotlight: Cox Communica ons | Silver Lands Inc.

    21 NSAA 2012 Commi ee Sign Up 23 Products & Services Guide

    Feature Ar cles6 Distressed Proper es A ract Investors to Las Vegas

    11 Fees? What are You Charging Your Residents? 12 Whats Happening in Reno?

    NSAA 2012 Board of Directors2011-2012 PresidentPaula Lane ........................... (702) 362-6444Pinnacle, a Family of CompaniesPresident ElectLizza Castro .......................... (702) 436-9293Prime Residen alVice PresidentDebra Peterson .................... (702) 255-3700For Rent Media Solu ons (Las Vegas)Treasurer/Past PresidentBret Holmes ......................... (702) 699-9261Advanced Management GroupSecretarySusan Bauman ..................... (702) 368-4217Western Risk InsuranceDirectorEric Newmark ...................... (702) 952-9321Karsaz LawDirectorChristopher Hinojos ............. (702) 860-0848Apartments.comDirectorSteven Olmos ...................... (702) 459-3192Silver Lands, Inc.DirectorChandra Vail ........................ (702) 798-4511Apartment FinderDirectorVicki Young .......................... (775) 742-5380Vail and Associates RealtyDirectorDonna Gill ............................ (702) 355-0277Western Na onal GroupDirectorTeresa Jackson ..................... (702) 449-4443Foothill Fire Protec on

    DirectorRhonda Sikes ....................... (702) 438-7678Avion at Sunrise MountainDirectorDebi OKeefe ....................... (702) 436-9293MAXX Proper esDirectorScarle Casas....................... (702) 250-8489Anza ManagementDirectorRobert Segura ...................... (702) 649-5711Quality TowingDirectorDaniel Turkin........................ (702) 523-8788Gillespie Proper esDirectorSuzanne Richter ................... (775) 329-3528Apartment Guide (Reno)DirectorGregory Peek ....................... (775) 972-0213ERGS, Inc. (dba ERGS Proper es)DirectorElizabeth Morrissey ............. (702) 256-1797ConAm ManagementDirectorMario Or z .......................... (702) 395-0071Fire N Ice Hea ng and Air Condi oningDirectorMyra Rega............................ (702) 435-9800Camden Property TrustAlternateAmy Hjerpe .......................... (702) 362-6444Pinnacle, A Family Of CompaniesAlternateTaylor Verhaalen .................. (702) 227-0444Stout Management Company

    WHO WE AREThe Nevada State Apartment Associa on (NSAA) is a non-profi t organiza on that provides the local mul -housing industry with legisla ve support, educa on and community outreach to benefi t our membership and the community. The NSAA is devoted to suppor ng the diversity, integrity and ever-changing environment

    of the mul -family industry. We are devoted to you.

    WHY WE EXISTThe Nevada State Apartment Associa on exists to support the mul -housing industry and its professionals with proac ve legisla ve e orts, by promo ng

    career development through educa on and by o ering entertaining social opportuni es. The NSAA also strives to promote the highest level of

    professionalism with established standards and prac ces throughout every segment of the mul -family industry, including management, marke ng,

    maintenance and suppliers. Bo om line we exist for you, because of you.

    7785 West Sahara Avenue, Suite #100, Las Vegas, NV 89117T: 702-436-7662 F: 702-446-8445

    Email: nsaa@nvsaa.org Web Site: nvsaa.orgExecu ve Director: Michael Fazio, mfazio@nvsaa.org

    Execu ve Assistant: Aysha Park, apark@nvsaa.org

    Pla num Sponsors: Cer fi ed Fire Protec on Western Risk Insurance Sherwin Williams Paint and

    Floorcovering Cox Communica ons Silver Lands, Inc.

    Quality Towing Apartments.com Fire-N-Ice Hea ng & Air Condi oning Roadrunner Carpet Care Karsaz Law Republic Services

    NSAA welcomes our newest members!NEW Property Members

    Aldonsa Bymoen Proper es Charleston Pines Apartment Homes

    Eric Danielsen & Rita Morandi Gillespie Proper es Pacifi c Palms Village

    NEW Vendor Members Belfor Property Restora on Get A Grip Las Vegas Hub Interna onal Insurance

    Services, Inc. IBS Copiers, LLC

    MSE Environmental Property Solu ons Interna onal, Inc. Rent Collect Global Trademark Restora on Services Western States Sanita on, LLC

    Execu ve DirectorMichael Fazio ....................... (702) 436-7662Nevada State Apartment Associa on (NSAA)

    Execu ve AssistantAysha Park ........................... (702) 436-7662Nevada State Apartment Associa on (NSAA)

  • 4 www.nvsaa.org

    Wrapping Up Summer NSAA StyleThis years NSAA Poker Event kicked off a summer of fun. The event was packed with incredible property managers and industry partners. There was cash given out to our Top 10 players, a TV, an iPod and even an iPad 3!

    Congratulations to Kris Bloom of Prime Residential for winning this years tournament. A huge shout out to Bobby Segura (Quality Towing) and Susan Buksa (Maintenance Supply Headquarters) and the entire Poker Committee for a spectacular event. Thank you to everyone who donated items for the event and ARS / Rescue Rooter for their Title Sponsorship of this event. Be sure to check out the pictures on the NSAA website.

    Are you interested in serving on the Board of Directors? Or maybe an NSAA committee? Now is the time to be thinking about 2013 and serving your industry. There will be some details coming out over the next several weeks about how you can become a Board Director for 2013. Also, all of NSAAs committees have room for more members, ask a friend or team member to serve with you. If you would like to discuss committee work or have any questions, please give the NSAA offi ce a call at 702.436.7662.

    August is back to school for most of southern Nevada. Where did the summer go? August also begins the dog days of summer. To help cool off your summer the NSAA is once again supporting National Night Out, with the assistance of the Las Vegas Metro Police Department and Commissioner Susan Brager. National Night Out is a unique crime / drug prevention event sponsored by the National Association of Town Watch (NATW), and has been scheduled for Tuesday, August 7. We cordially invite you and your community to be a part of our NIGHT OUT 2012 team.

    Last years National Night Out campaign involved citizens, law enforcement agencies, civic groups, businesses, neighborhood organizations and local offi cials from over 15,000 communities from all 50 states, U.S. territories, Canadian cities and military bases worldwide.

    Also in August is NSAAs Reverse Trade Show. The Reverse Trade Show is a fun twist on the familiar where the Property Management Companies are the exhibitors and the Vendor Members are the attendees! How the Reverse Trade Show works is participating Property Management Members will staff their booths with 2 to 4 decision makers (property managers, regional managers, maintenance supervisors and so on) at a time. Vendors will rotate around the booths for a structured 10 minute interview.

    Apartment Insight is published by the Nevada State Apartment Associa on.

    Apartment Insight is the o cial trade publica on of the Nevada State Apartment Association, a professional associa on of mul -housing professionals and industry partners.

    The materials contained in this publica on are general in nature; the applicability to ones par cular situa on should be reviewed with a professional who has all the facts pertaining to the situa on being considered. The publisher disclaims any liability for published ar cles.

    Adver sing Policy: Nevada State Apartment Associa on accepts no responsibility for unsolicited materials. Adver sements contained in this magazine do not cons tute endorsement. With the excep on of those products and services directly under the control and supervision of NSAA, it is the policy of the NSAA, its o cers and Board of Directors, not to endorse any products or services.

    Apartment Insight Commi ee:Michael Fazio

    Nevada State Apartment Associa on

    Aysha ParkNevada State Apartment Associa on

    Cover art courtesy of Michael Fazio

    For Advertising Information, Contact:Dani Gorden

    801.746.4003dani@thenewslinkgroup.com

    EXECUTIVE DIRECTORSMESSAGEBy NSAA Execu ve Director Michael Fazio

    Also in August is NSAAs

    Reverse Trade Show. The

    Reverse Trade Show is a fun

    twist on the familiar where

    the Property Management

    Companies are the exhibitors

    and the Vendor Members are

    the a endees!

  • 5JULY | AUGUST 2012

    Service

    Products

    Savings

    ^You bet. You'll

    be 100% happyor we'll make

    it right.

  • 6 www.nvsaa.org

    The Las Vegas apartment market is beginning to move forward as operations improve, aided by a modest job recovery and ongoing problems in the single-family market. Las Vegas still has one of the highest home foreclosure rates in the nation, which is forcing many residents into the renter pool, while apprehension toward homeownership will keep many potential homeowners in rentals longer, increasing demand. Strengthening apartment operations in suburban communities, however, are jump-starting apartment construction. As occupancies rise in these areas, more of the previously shelved projects could get off the ground. The maligned construction industry will also get a boost from new projects in the downtown area, such as a government office building, an expansion to the outlet mall, and two multi-story mixed-use projects that are expected to get under way by year end. Job growth in the metro is recover