GCNKAA June 2024 Apartment Advantage Newsletter

SUMMERGOLFOUTING ATASTONOAKS TEESOFFJUNE13

GCNKAA 38TH ANNUAL GOLF OUTING PRESENTED BY YARDI TEES OFF ON JUNE 13

Aston Oaks Golf Course on Cincinnati’s west side will once again play host to the Annual Greater Cincinnati Northern Kentucky Apartment Association’s Golf Outing on Thursday, June 13, 2024. More than 160 golfers will hit the links in what is guaranteed to be a day filled with fun, networking and golf. This year the golf outing is presented by Yardi, who kindly stepped up as the Event Sponsor. Thank you also to Assured Partners for sponsoring the golfer giveaways this year.

Thank you to the Golf Outing Committee spearheaded by Rod Herper with National Credit Systems and Craig Coffman with Uptown Rental Properties, with the assistance of Mark Arnold with Royal Finish, Steve Capano with Belfor Property Restoration, Chris Carson with Rite Rug, Ross Daniel with Belfor Property Restoration, Dave Estes with Pro Maintenance Group, Tony Krebs with Chadwell Supply, Dennis Merkle with Advanced Turf Solutions, John Gruen with Jetz Laundry Systems, Timothy Perry with Redicarpet, Dan Pike with Assured Partners, Dina Rancourt with ACRE Real Estate, Jessica Reeb with CORT, Grant Saunders with Hays + Sons Complete Restoration, and Trinity Vanover with First Green Commercial Landscaping.

All golfers this year have the opportunity to win one of several big awards on the course. Thank you to Assured Partners for sponsoring all of our $5000 Hole-In-One contests. You could win $5,000 on hole 4 with a hole-in-one courtesy of Belfor Property Restoration; $5,000 with a hole-in-one on hole 6 courtesy of Rite Rug; $5,000 with a hole-in-one on hole 15 courtesy of ServPro of Boone, Kenton, and Campbell Counties; and $5,000 with a hole-in-one on hole 17 courtesy TNT Powerwash.

This outing is anticipated to be the biggest golf outing in GCNKAA history. Door prizes will be raffled off before the outing at the registration table so be sure to pick a number out of the bowl and see if you are a winner. Also, please be sure to stay until the end of the outing to partake in the excitement - including $1500 in cash awards - raffled off after dinner.

For outing details - including the schedule of events, current sponsors and directions to Aston Oaks - see inside this newsletter or click here. For a map or directions to Aston Oaks Country Club, 1 Aston Oaks Drive, North Bend, OH, 45052, click here.

GCNKAA SETS SAIL ABOARD BB RIVERBOAT ON JULY 12

Set sail with the Greater Cincinnati Northern Kentucky Apartment Association on Friday, July 12, 2024, as we join the BB Riverboats for an afternoon cruise along the Ohio River. We will board the River Queen at 1:45 pm and will leave the dock PROMPTLY at 2 pm.

• Captain Sponsorship ($800): Includes a reserved table for 8 guests, beverage sponsorship, company inclusion on event signage, company recognition in Apartment Advantage newsletter, company recognition on www.gcnkaa.org, verbal recognition aboard BB Riverboat

• Anchor Sponsorship ($250): Includes admission for 2 guests, food sponsorship, company inclusion on event signage, company recognition in Apartment Advantage newsletter, company recognition on www. gcnkaa.org, verbal recognition aboard BB Riverboat

• Individual Registration ($75)*

*If you register and pay directly online, you will get the discounted individual registration rate of $65 per person.

Seating is limited. Deadline to register is June 28 at 5 pm. Registrations after the deadline increase to $105 per person. No registrations will be accepted after July 3, 2024. To register, please click here.

HOUSING PRO PASS OFFERS UNLIMITED LEARNING FOR YOUR ENTIRE COMPANY

Subscribe to the GCNKAA Housing Pro Pass and educate your entire staff on all topics related to multifamily housing.

• CECs for the Whole Team: Employees of the subscribed company can attend unlimited seminars for free!

• Low, Predictable Cost & High ROI: At just .50 per unit, the average GCNKAA member’s savings pay for the pass after 5 people attend a single session!

• Housing Pro Pass Library Access: Can’t make a live session? Subscribers get full access to our new online on-demand learning platform.

• Discounts on All Certifications: From EPA certification to Certified Pool Operator and all National Apartment Association (NAA) designations including the Certified Apartment Leasing Professional, Certified Apartment Manager and the Certificated for Apartment Maintenance Technicians, Housing Pro Pass members enjoy a 10% discount.

Contact James@gcnkaa.org or 513-407-8612 for details.

2024 EXECUTIVE COMMITTEE GCNKAA

MELISSA JOY

Village Green Mgmt President mjoy@villagegreen.com

JUSTIN SEGER

HILLS Properties Vice President JustinS@hillsinc.com

MEGAN LAWHON PLK Communities Secretary megan@plkcommunities.com

TONYA PETERSEN

Vinebrook Homes

Immediate Past President rpmhousingpro@gmail.com

2024 BOARD OF DIRECTORS

Mark Arnold, Royal Finish Associate Council 2nd Vice President

Lloyd Cobble, CIG Communities

Brian Fullenkamp, Legacy Management

Rod Herper, National Credit Systems Associate Council 1st Vice President

Todd Hignite, Hearth Home Communities

Lisa Isham, CMHA

Oksana Lukjanenko, Denizen Management

Mike Markus, BRG Apartments

Jordann Morgan, Fath Properties

John Recob, Towne Properties

Grant Saunders, Hays + Sons Restoration Associate Council President

Charles Tassell, Parliamentarian Cornerstone Redevelopment

Elizabeth Werner, Sandstone Properties

Rebecca McLean, Executive Vice President

Pat Crowley, VP of Governmental Affairs

Michele Klusman, Director of Communications & Programs; Apartment Advantage Editor

Rick Holste, Director of Membership Sales

Zach Jameson, Accounting, Database & Office Coordinator

James Combs, Education & Social Media Coordinator

Susan Peck, AA Outreach Coordinator

Nicole Metz, Membership Coordinator and Office Administrator

2023...Tonya Petersen

2022...Tonya Petersen

2021...Don Brunner

2020...Don Brunner

2019...Jud Oscherwitz

2018...Jud Oscherwitz

2017...Stacy Walton

2016...Stacy Walton

2015...Rusty Lykes

2014...Rusty Lykes

2013...Maria Stanton

2012...Maria Stanton

2011...Jeff March

2010...Brian Fullenkamp

2009...Brian Hendy, CPM

2008...Brian Hendy, CPM

2007...Becky Alejandrino, CPM

2006...Marc Cameron, CPM

2005...Marc Cameron, CPM

2004...Gary Sanzone, CPM, CAPS, CAM, NALP

2003...Gary Sanzone, CPM, CAPS, CAM, NALP

2002…Jim Ruh

2001…Jay Ingram, CPM

2000…Roy Wergers

1999…Roy Wergers

1998…Robert J. Wahlke, CAPS

1997…Terry Sievers

1997…Dave Lockard

1996…Jim Cohen, CPM

1995…Jim Ruh

1994…Mark Robinson

1993…David Noll

1992…Bernie Wessels **

1992…Jerry A. Molique, CPM, CAPS **

1991…Jay O. Ingram, Jr., CPM

1990…Ronald Bommer

1989…John Cobey

1988…Robert J. Wahlke, CAPS

1987…Robert J. Wahlke, CAPS

1986…Charles Berling

1985…Joseph Fullenkamp, CAPS

1984…John Stalnaker

1983…Jerry A. Molique, CPM, CAPS

1982…Harry Fath

**Apartment Association of N. KY merged with GCNKAA

Office Hours: Monday Through Friday 8:30 am to 5:00 pm

ADVERTISING RATES 2024

Ad rates are for full color ads. Link from your ad to your website is included. Ads must be submitted as a press quality

ADVERTISING DEADLINES

Ad deadlines are the first of the month for the next month’s issue. Placement of articles and ads is limited to pre-set space and dimensions of the Apartment Advantage. Submissions may or may not be used and placement is at the discretion of the editor

CRAIG COFFMAN Uptown Rental Properties Treasurer ccoffman@uptownrents.com Apartment Advantage is a monthly publication of the Greater Cincinnati Northern Kentucky Apartment Association, Kenwood Executive Center, 7265 Kenwood Rd, Ste. 100, Cincinnati, OH 45236; phone (513) 407-8612; fax (513) 407-7868. For up-to-date information check out our website: www.gcnkaa.org.

Across the Board

A MESSAGE FROM THE PRESIDENT

By Melissa Joy, President

Summer, Summer, Summertime! (I hope you sang that first sentence).

While it’s technically not the change of season until later this month, Summer is here for all intents and purposes. Pools are open at the communities we operate, school is out, it’s socially acceptable to wear white pants and shoes, and the Greater Cincinnati Northern Kentucky Apartment Association (GCNKAA) has a ton of super-cool activities planned you can take advantage of this Summer.

What’s coming up in Greater Cincinnati? Well, for starters we have the Summer Golf Outing next week on June 13 at Aston Oaks Golf Course. The following week on Saturday June 22 the GCNKAA Diversity Equity & Inclusion (DE&I) Committee is representing in the Cincinnati Pride parade. Last but not least, we also the BB Riverboat Cruise scheduled for July 12. This event always sells out so if you’re not yet registered, do so TODAY!

Many of our local members are also heading to The City

This section contains articles and information concerning the Board of Directors and Association policies.

of Brotherly Love - Philadelphia - for the National Apartment Association’s annual Apartmentalize conference from June 18 through June 21. It’s not too late to register for this annual event so be sure to check out the NAA website at naahq.org for more information.

While there is plenty to do with the GCNKAA over the Summer, I realize this is also the busy season for our industry. Leasing activity, unit turns, landscaping, outdoor projects, seasonal services…there is always much to do to keep our communities full and looking great during this time of year. One of the very best things about being a member of the Greater Cincinnati Northern Kentucky Apartment Association is having firsthand access to our supplier partner members. If you need a partner for supplies or services this season, check out the GCNKAA website Business Directory for a list of our Associate Members.

I look forward to seeing many of you this summer! If you don’t already follow our social media pages, check us out on Facebook, Instagram, LinkedIn, and YouTube. We would love to interact with you and share photos! If you post be sure to use #GCNKAA and we will follow along!

Cheers to a sizzling summer of success!

Melissa Joy Village Green Mgmt.

Brain Power

EDUCATION IS SUMMERTIME FINE

By James Combs, Education and Social Media Coordinator

Check out that great looking education that the Greater Cincinnati Northern Kentucky Apartment Association (GCNKAA) is offering! The schedule of upcoming education offerings is listed below. But don’t forget to stop by the GCNKAA Library for our great selection of free-on demand education*. With so much great content coming, we want to show it all off. Below you’ll get a chronological outlook about what is to come but to fit it all, it’ll be abbreviated. Go to our website for full details.

HOUSING-PRO PASS: AVAILABLE NOW!

The Housing-Pro Pass is an undeniable value for our members. Sold at the top-level company, one pass covers your company’s entire portfolio. This bulk subscription allows every employee to enjoy unlimited-free or discounted education offered by the GCNKAA. This includes things like Fair Housing, Hands On Maintenance, Sales for Leasing, and more!

SEMINARS, WEBINARS, AND MORE! (MORE TO COME)

• You Bet Your Assets! Animals, Accommodations, & HUD – June 10, 2024 – Learn how to navigate the intricacies of assistance animal guidelines with confidence and ease!

• Moisture & Indoor Air Quality – TBD – Uncontrolled indoor moisture can cause major damage to the building structure and negatively impact indoor air quality. This course helps you understand how to appropriately manage these conditions.

• Multimeter Basics – TBD – This class will cover how to use a multimeter and what to use it for. Topics include circuit basics and continuity/resistance related to appliance electrical troubleshooting.

• Underground Plumbing – TBD – An advanced level seminar, you’ll cover sanitary sewers and storm drains. How these systems work with and affect your property.

• Conflict Resolution Training – August 28, 2024 – Acquire practical insights that will equip you with the knowledge to navigate complex relationships within the apartment industry and effectively find resolutions in times of conflict.

• 301 Property Management – September 26, 2024 – It’s time to move past being a property security guard. This 301 level class is meant to turn property managers into the potential future of the company. Learn the finances inside and out, learn the strategy, and learn people.

• LIHTC Fundamentals – October 23, 2024 – Learn how to properly manage LIHTC assets from the ground up. Includes a bonus regulatory update about HOTMA!

CERTIFICATIONS!

• EPA 608 – July 19, 2024 – Section 608 of the Federal Clean

Air Act requires that all persons who maintain, service, repair or dispose of appliances that contain regulated substances be certified in proper refrigerant handling techniques.

• Certified Apartment Portfolio Supervisor (CAPS) – July 22, 2024 – Recommended for multi-site managers or those looking to grow into a multi-site manager role.

• Certified Apartment Manager (CAM) – September 13, 2024 – 2024 brings a completely updated curriculum for today’s property managers! Allows you to demonstrate that you have the knowledge and ability to manage an apartment community

• EPA 608 – October 18, 2024 – Section 608 of the Federal Clean Air Act requires that all persons who maintain, service, repair or dispose of appliances that contain regulated substances be certified in proper refrigerant handling techniques.

INVOLVEMENT, SPONSORSHIP, QUESTIONS

If you are interested in getting involved with the Education or NextGen Committee and help plan all of the great education opportunities, join us for our monthly meetings! Contact james@ gcnkaa.org for details and invitations.

GCNKAA’s education and NextGen programs offer great exposure through sponsorship. Seminars and course modules can be sponsored for as little as $150 and comes with many benefits. Sponsorship funds help the association provide extra amenities to the attendees.

James Combs

Low, Predictable cost &

Our House

This heading contains membership, staff, committee information and events.

NAA APARTMENTALIZE HEADS TO PHILADELPHIA IN JUNE! REGISTER

TODAY!

Whether you’re in management, leasing, marketing or maintenance, if you love working in rental housing, you belong at Apartmentalize. Come find your people in the City of Brotherly Love—connect with colleagues, share ideas, discover solutions and go home with renewed passion for your career.

EXPERIENCES

The Apartmentalize schedule is designed to maximize your connections with other attendees and exhibitors. With interactive sponsored activities, the NAA Exposition and structured networking sessions, Apartmentalize provides countless opportunities to meet and exchange ideas with the best in the industry.

• Nationally recognizable speakers from outside the industry motivate you with their inspiration and personal stories of success and real-life experiences. This year’s speakers include Kyle Carpenter, Mark Wahlberg, and Leslie Odom Jr.

• Welcome Reception: Kick off 2024 Apartmentalize by enjoying snacks and beverages while networking with fellow attendees and suppliers at the Welcome Reception. Wednesday, June 19 | 5:30-6:30 p.m.

• NAA Exposition: The NAA Expo brings together the rental industry’s top management professionals and suppliers eager to network, share ideas and the latest products and services.

• Expo Eats: Grab a complimentary lunch on Thursday and Friday.

• Express Education: Two stages featuring 30-minute interactive sessions that include quick digestible content, easily applied takeaways, Q&A and storytelling.

• NSC Lounge: Learn more about the companies who are members of NAA’s National Suppliers Council.

Thursday, June 20 | 11:30 a.m. – 5 p.m.

Friday, June 21 | 9:30 a.m. – 1:30 p.m

• NAA Excellence Awards: NAA’s Excellence Awards, or Excels, recognize excellence and leadership in the rental housing industry. This year’s awards ceremony will be complimentary for interested conference goers and those ready to cheer on their company, colleagues and other nominees. Attendance will be limited to the first 400 people who arrive. Wednesday, June 19 | 11 a.m. - 12 p.m.

• Thursday Night Party: Apartmentalize will take over the Philadelphia Museum of Art and give attendees an iconic Philly experience! Attendees will LOVE the entertainment, food, drinks and fun! Thursday, June 20 | 7 p.m. - 10 p.m.

Apartmentalize is scheduled for June 19-21, 2024, in Philadelphia, Pennsylvania. Registration is now open here.

APRIL 2024 NEW MEMBERS

ASSOCIATE

3MC Services Inc.

Ashley Miller 3973 Legendary Ridge Ln Cleves, OH 45002 (513) 817-6036

info@3mcservices.com Apartment Turns

Allison Landscaping

Drew Kohn 5941 River Road Cincinnati, OH 45233 (513) 922-1313

drew@allisonlandscaping.com Landscaping & Lawn Care

Exercise and Leisure Equipment Co.

Jason LaCroix 2300 Grandview Drive Fort Mitchell, KY 41017-1633 (859) 816-8118

jasonlacroix@exerciseandleisure.com

Exercise & Sports Equipment Sales & Service

Magna Pest Solutions

Marcus Brown 11655 Lebanon Road Cincinnati, OH 45241 (513) 551-8830

M.brown@magnapest.com Pest Control/Exterminator Service

Matrix Holdings LLC

Patrick Gates 3814 West St, Suite 100 Cincinnati, OH 45227 (513) 374-1879

patrick@mtrxholdings.com Energy Financing

Northern KY Maintenance Solutions

Anthony Smith 10121 Cedarwood Drive Union, KY 41091 (513) 400-8990

nkymaintenance.solutions@gmail.com

Apartment Turns / Carpet & Floor Cleaning

Restoration 1 of Greater Cincinnati

Greg Dowdell 910 Columbia Street Newport, KY 41071 (513)654-6316

greg.dowdell@restoration1.com Remodeling and Renovation Services

· Countertop, Cabinet and Bathtub resurfacing

· Cabinet Door Replacement with Resurfacing of frames and boxes

· Increase Rent/Occupancy

· NEW look - Fresh Colors

FALL GOLF OUTING SET FOR SEPTEMBER 19 AT ELKS RUN; FOURSOME

AND SPONSORSHIPS ON SALE ON JUNE 14

On Thursday, September 19, GCNKAA will host the Association’s 19th Annual Fall Golf Classic benefiting the GCNKAA Industry Defense Fund. This year’s Fall Golf Outing will once again be held at Elks Run Golf Course on the east side of the city. Registration opens at 8 am with the scramble teeing off at 9 am. All net proceeds of this outing will be used to meet our commitments to the National Apartment Association (NAA), the Apartment Association of Kentucky (AAK) and the Ohio Apartment Association (OAA) government funds as well as provide backing for the legislative committee’s political needs.

Foursome cost is $800 each and includes per person: round of golf at the golf course, breakfast, late lunch, 2 beverage tickets, snack bag, and automatic inclusion into Hole-In-One contests.

TAKE ADVANTAGE OF OUR SPONSORSHIPS

The Fall Golf Outing Benefiting the Industry Defense Fund offers several sponsorship opportunities for all our members. As a vendor, a sponsorship gives you the chance to get your company name out in front of 136 decision makers in the multi-family housing industry. As a hole sponsor, you also get the chance to take it one step further and meet and greet all golfers on your tee box. As a Primary Member, sponsorship shows your support of the legislative efforts of the Greater Cincinnati Northern Kentucky Apartment Association. After all, all net proceeds directly benefit our Industry Defense Fund which is used to fight or support vital

legislation at the local, state and federal levels. Sponsorships are limited and are listed below:

Presenting Sponsorship – $3000

Event Sponsor - $1500

Dinner Sponsorship – $500

Lunch Sponsorship – $350

Hole Sponsorships – $350 (limit of 18)

Snack Bag Sponsorship** - $250 (limit of 1)

Beverage Sponsorship – $275

Putting Green Sponsorship – $150

Driving Range Sponsorship - $150

Bag Drop Sponsorship - $350

Due to liquor license, no outside alcohol will be permitted at Elks Run Golf Course.

All sponsors receive signage at the outing, pre-event marketing exposure and public acknowledgement of sponsorship during dinner the day of the outing. Hole and beverage sponsors also have the unique all-day opportunity to create a memorable impression and build relationships at their sponsored hole/station. Dinner sponsors will also get the opportunity to give a one-minute speech during dinner. All sponsors are also invited to donate door prizes or give-aways to all participants.

Click here to reserve your foursome or sponsorship.

Day at The Races Friday, May 19, 2024

to see all the photos click here

SCHERZINGER USES NEW TECH TO PROTECT FOOD

OF AT-RISK FAMILIES; ANNOUNCES NEW PARTNERSHIP WITH FREESTORE

ScherZinger Pest Control is using a brand-new technology to protect the food that feeds thousands of area families through a new partnership with Freestore Foodbank. The system uses a wireless communication link to monitor the status of pest control stations across Freestore’s 200,000-square-foot distribution center in Riverside, as well as the non-profit’s customer connection center downtown.

“Applying the latest available science has always been part of our approach to responsible pest control, Said company President Kurt Scherzinger. “One immediate advantage of this system is that it allows the ScherZinger technician on-site to spend more time inspecting the facility for potential threats, rather than checking stations that haven’t seen any activity. That way we can prevent pest problems before they start.”

The system, Express iQ, was created by Windsor, Wisconsinbased Bell Laboratories. It uses Bluetooth technology to monitor for rodent activity, capture and report any infiltrators, and send

“Our resources are under a tremendous amount of pressure this year,” said Jonathon Mann, corporate relations officer at Freestore Foodbank. “That means we’re more dependent than ever on the willingness of companies like ScherZinger and others to invest in the community.”

“This is a continuation of what we’ve always done in making the latest pest control technology available to businesses and homeowners in Ohio and Northern Kentucky,” Scherzinger said. “We saw this in particular as an opportunity to give back to the community and our neighbors in a way that’s really brought our team together in support.”

About ScherZinger Pest Control

Since 1934, ScherZinger Pest Control has been an innovator in the safe and responsible protection of residences, businesses and public spaces. Serving businesses and homeowners in Cincinnati, Northern Kentucky, Columbus and Dayton, the company contin-serve the heritage and quality of life of our shared communities. The professional etymologists at ScherZinger receive thousandsers identify pests. For assistance, visit www.StopZBugs.com, or

GCNKAA 38th ANNUAL GOLF OUTING

Government & Housing Legalities

CINCINNATI’S CONNECTED COMMUNITIES INITIATIVE RECEIVED PLANNING COMMISSION APPROVAL

By Pat Crowley, Vice President of Governmental Affairs

Connected Communities, the City of Cincinnati’s ambitious and widerranging overhaul of the city’s residential zoning codes and ordinances, was unanimously approved by the Cincinnati Planning Commission after a marathon meeting.

During a more than six-hour May 17 planning commission meeting, nearly 100 people testified in person and virtually both for and against the initiative.

The current city zoning code only allows for constructing single-family homes in most parts of the city. If Cincinnati City Council approves the initiative, duplexes, rowhomes, and small mixed-use buildings could be added to neighborhood business districts and along transit corridors.

City council is expected to vote on the measure in June.

“Cincinnati is a great place to call home but a difficult place to call housing,” Cincinnati Mayor Aftab Pureval said during the hearing. “If we want to build the kind of communities that our residents want and deserve, we’ve got to create communities where people can afford to live where they want to live and have a choice of vibrant neighborhoods to create the affordable, diverse, and transit-friendly communities that our residents are asking for and deserve.”

Councilmember Reggie Harris, who recently gave a presentation on Connected Communities to GCNKAA members, has championed the initiative, which he said will help spur the development of more housing in the city. GCNKAA provided

testimony in favor of the measure.

WHAT IS NAAPAC?

NAAPAC is the bi-partisan political action committee that supports Congressional candidates who represent good government and understand the needs and concerns of the apartment housing industry.

If you are in housing, you are in politics. From fair housing to flood insurance, energy to the environment, the 535 members of the US Senate and House of Representatives play a huge role in shaping the policy and economic climate for the apartment housing industry.

It takes not only the collective power of the NAA, but also the work of individuals at the grassroots level to make sure we, as an industry, are at the table and not “on the menu” when important policy decisions are made.

Why Should I Care? NAAPAC Gives YOU:

• A seat at the Table. Would you rather be at the table, or on the menu? NAAPAC is your vehicle to support federal candidates who are open to the apartment industry’s views on issues crucial to your business and the industry at large.

• Credibility. NAAPAC gives our profession political credibility. It shows that we are willing to support lawmakers who help enact policies that will allow us to keep creating quality apartment homes across America.

• Success. Growing our influence in Washington, DC, does not happen easily. It is an ongoing and long-term process that only succeeds as more and more NAA members participate. Your involvement makes NAAPAC grow in strength.

To donate, click here.

Pat Crowley

The Apartment Association Outreach, Inc.

LETTER FROM THE PRESIDENT

By Justin Seger, HILLS Properties, Outreach President

Justin Seger

The last few weeks have been eventful for all of us on both the personal and professional level. The end of May marks another school year ending, graduation parties, Memorial Day events and warmer weather.

Summer is finally here! Summer in Cincinnati means Reds games, Kings Island, trips to the Cincinnati Zoo and so many other fun outdoor activities. Unfortunately for those less fortunate it can also be the most difficult time of the year. Many families are dependent on school lunches to bridge a food shortage gap for their families. I am always reminded of how impactful our food pantry support program is during this time of year.

The books have closed on our annual 5K4 Rent and I am happy

to report that we raised more than $23,000 for rental assistance, making this our most successful 5K to date. The support of our loyal partners combined with great events like 5K 4 Rent allows us to distribute financial support for Rental Assistance and Food Pantries in the region. I am happy to report that once our early June payments go out, we will have given $74,500 in rental assistance and $60,000 in food pantry support year to date. We are on track to increase our support payments in both areas as compared to previous years. This is only possible because of all of you that believe in our mission and understand the impact we are having on the region.

Look for information on upcoming Volunteer opportunities this summer and don’t forget that our annual Night Out For Outreach is just around the corner. This year’s event is on Saturday, October 12 at the Hyatt Regency Hotel in Downtown.

Looking to Join a Committee?

Trend Setting

THE UPDATED AMERICAN DREAM: RENTING

By Chase Harrington Reprinted courtesy of NAA Units Magazine

SAVING FOR A HOME IS NO LONGER WHAT RESIDENTS ARE SEARCHING FOR

Two kids, a dog and a white picket fence: It was part of the wholesome American Dream of the past, which included a family, a steady job and a home.

Fast-forward to 2024 and the outlook has largely shifted. One of the primary traditional components of the American Dream—a home—no longer is as much of a priority. That’s according to Entrata’s recently released The New American Dream Report, which indicates the desire for homeownership is tapering in the modern U.S.

The report, based on a January survey of 2,000 renters, indicates that flexibility and life experiences have become greater priorities, often superseding the desire to own a home. Among the report’s most telling data points:

• 41% of renters claim that their American Dream has nothing to do with homeownership

• 20% anticipate being lifelong renters (an uptick from the 15% who indicated the same in 2021)

• 23% enjoy the location flexibility provided by renting

While exorbitant home prices certainly have contributed to the

This heading contains information on Management & Leasing.

trend, even many who can afford homes aren’t necessarily prioritizing buying one. The report showed that 17% of respondents enjoy the flexibility of not being tied to a mortgage. As such, the term “renter by choice” is becoming more prominent, with many modern Americans OK with exchanging the white picket fence for a community courtyard with multiple gathering spaces.

VANISHING STIGMA

In the past, renters were largely regarded as those who couldn’t afford a single-family home. It was a necessary alternative as one worked their financial profile to the point that they could afford their own house.

While that undoubtedly remains the case for some, many renters are content with the various rental options available, many of which include attractive amenities, common areas and do not require the upkeep, insurance and long-term commitment of homeownership. A robust 66% of respondents indicated that renting fits their current lifestyle more than homeownership.

That sentiment rings true even for many who are financially secure, as 33% of renters say they could afford a home that meets

their needs—but ownership doesn’t necessarily fit into their current lifestyle.

REIMAGINED PRIORITIZATION OF FINANCES

In a conventional way of thinking, many college graduates planned to immediately start saving for a house. That is no longer as commonplace, as many younger Americans are allocating their earnings toward more pressing financial matters.

• 56% say they’re currently prioritizing paying off debts rather than saving

• 43% prefer to have their savings in investments and retirement strategies rather than real estate, in part because they are easier to liquidate

• 36% of renters prefer to invest in retirement as opposed to saving for a home

Discretionary income is also regularly dedicated toward experiential aspects of life rather than a home, according to the report. Nearly three-quarters of respondents (74%) say they delegate any discretionary funds toward activities such as dining, travel and entertainment, while 46% indicate they have the financial means to pursue their hobbies.

SOCIAL AND CAREER ASPECTS

In addition to avoiding what is often a 30-year financial commitment, Americans also enjoy the connectivity components of living at an apartment community. While the common-area space isn’t necessarily solely theirs, it often has more options than that of a single-family home. The study shows that:

• 51% of respondents say they enjoy the community aspect

of renting

• 40% have utilized a property’s communal spaces for social gatherings

• 34% say their friends or family visit at least once per month

Additionally, many respondents believe renting better aligns with their career pursuits, as 65% of renters indicate they are happy with the direction of their career and 35% say being a renter gives them more career opportunities than being a homeowner.

BIG PICTURE PERSPECTIVE

A certain percentage of the population will always remain renters by default because of their personal financial situation, but an increasing number of Americans are choosing to rent regardless of economic factors. The desire for location flexibility, lifestyle experiences and a concentration on other financial priorities are among the factors making renting more attractive. That holds true not only for fresh college graduates yet to build a strong financial profile, but also for many who can afford homeownership and those with hefty credit scores. The report shows that 25% of renters with credit scores 750 and above never want to stop renting. Without having to worry about saving for a home, renters are able to contribute toward other investments—such as retirement— and delegate more income toward savings and experiences. For many, with homeownership no longer regarded as a benchmark for success, the new American Dream includes an updated component: Renting.

Chase Harrington is President of Entrata.

GCNKAA RIVERBOAT CRUISE

aboard BB Riverboats River Queen

DATE: Friday, July 12, 2024 - Rain or shine!

TIME: Cruise from 2:15 pm - 5 pm; Check-in at 1:45 pm

PRICE: $75* per person or take advantage of our package deals

Includes: Appetizers | Beer | House Wine | Soft Drinks | Water | Entertainment

CAPTAIN SPONSORSHIP PACKAGE - $800

• Reserved table for 10 Guests

• Beverage Sponsorship

• Company Inclusion on Event Signage

• Company Recognition in Apartment Advantage Newsletter

• Company Recognition on www.gcnkaa.org

• Verbal Recognition Aboard BB Riverboat

ANCHOR SPONSORSHIP PACKAGE - $250

• Reserved table for 2 Guests

• Food Sponsorship

• Company Inclusion on Event Signage

• Company Recognition in Apartment Advantage Newsletter

• Company Recognition on www.gcnkaa.org

• Verbal Recognition Aboard BB Riverboat

INDIVIDUAL REGISTRATION - $75

• General admission for one guest

yourself and your team online to get the discounted rate of $65 per person!*

not include sponsorship packages)

Sponsor

Sponsors