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November 2011

HONORING THE BEST IN OUR INDUSTRY Garden State Awards Photo Highlight Winning in Today’s Rental Market Personal Relationships Are Key to Success Timely Planning Could Result in Tax Savings

Congratulations to Management Company of the Year Winners Market Rate: Value Companies, Inc. and Affordable: CIS Management Inc


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N O V E M B E R S M T W T F S

1434 Chestnut Ave., Hillside, NJ 07205 Phone: 800.834.WELD 908.687.4494 • Fax: 908.688.6684 www.manhattanwelding.com

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Table of Contents November 2011 n Issue 7

THE OFFICIAL PUBLICATION OF THE NEW JERSEY APARTMENT ASSOCIATION

F E A T U R E S

10

EXECUTIVE DIRECTOR Jean Maddalon jean@njaa.com

Committee Corner

Your Fellow Members at Work

12

Road to Success

What Does it Take? Winning in Today’s Rental Market

16

Tools of the Trade

Personal Relationships Are Key to Long-term Success

21

Garden State Awards Photo Highlight

Higher Learning

Timely Year End Planning Could Result in Tax Savings

36 7 8 9 11 38 41

DIRECTOR OF COMMUNICATIONS Editor Christine Haber christine@njaa.com DIRECTOR OF REGULATORY AFFAIRS & RESEARCH Fast Facts Editor Nicholas Kikis nicholas@njaa.com ACCOUNTING & OFFICE MANAGER Eileen Corbett eileen@njaa.com EDUCATION & EVENTS MANAGER Niambi Ivery niambi@njaa.com

32

I N

VP OF GOVERNMENT AFFAIRS Legislative Editor Conor G. Fennessy conor@njaa.com

NJAA PAC Reception Photo Highlight

E V E R Y

EDUCATION & MEMBER SERVICES COORDINATOR Casey O’Brien casey@njaa.com ADMINISTRATIVE ASSISTANT & RECEPTIONIST Jaclyn Olszewski jaclyn@njaa.com New Jersey Apartment Association - HQ 104 Interchange Plaza, Suite 201 Monroe Township, NJ 08831 Tel: (732) 992-0600 Fax: (609) 860-0060

I S S U E President’s Message New Members Members in the News Fast Facts PAC Contributors Education & Event Calendar

Legislative Office 172 West State Street, Suite 304 Trenton, NJ 08608 Tel: (609) 393-5200 Fax: (609) 393-5222 www.njaa.com Cover photo by Larry Falkow, The APTS Magazine Trademarks, name brands and other copyrighted items used in this publication are the property of the respective owners. AIM Advertising Contact Christine Haber at christine@njaa.com or 732-992-0603 for rates and deadlines.


DONATE A TOY!

to benefit less fortunate children in New Jersey

NEW unwrapped toys for girls and boys ages 5 to 12 years old Please no stuffed animals, clothing, used toys or board games. (due to the large quantity of board games left over from 2010)

Charitable Fund

The NJAA Charitable Fund 14th Annual Toy Drive Ends on December 2, 2011

For more information, please contact _______________________________________ _______________________________________ Main Event Sponsors:

FIELDSTONE PROPERTIES I, LLC

Posters Contributed by:


Officers 2011 Board of Directors Matt Adler, Adler Residential Michael Barry, Applied Development Company Michael Beirne, The Kamson Corporation Andrew Cohen, Rock Properties Joseph Collins, CALECO Vincent Comperatore, Comperatore Associates, Inc. George Cowden, Multi-Housing Depot by ARI John D. Cranmer, Archer & Greiner, PC Dawn Curto, Roseland Property Company Sue D’Angiolillo Apartment Finder William Diggs, Renaissance Equity, LLC Ann Emerson, Equity Residential Larry Falkow, The APTS Jonathan S. Gershen, The Gershen Group Michael Goldberg, Goldberg Realty Associates Dan Gordon, AVCO Supply, Inc. Alan R. Hammer, Esq., Brach Eichler LLC George Jacobs, JK Management, LLC Paul Kaliades, Renters Legal Liability Insurance Jason Kaplan, Kaplan Properties Tom Kretsch Segal & Segal Ronald S. Ladell, AvalonBay Communities, Inc. Anthony E. Lauro, Affiliated Management, Inc. David Legow, Legow Management Company Jack Linefsky, Value Companies Jerome J. Lombardo, C.J. Lombardo Company Jim McGrath, PRD Management Michael O’Dea, Hekemian & Company, Inc. Diana Penn, JMG Realty, Inc. Marshall Rosen, Solomon Organization David Siegel, Coinmach Corporation Meg Viezbicke, Apartments.com John Zoetjes, American Architectural Window & Door



NJAA Board Officers

President

President-Elect and Regional Vice President North Jersey

Jeffrey Smith

Brent Kohere

Kriegman & Smith

Home Properties

Vice President Legislation

Regional Vice President South Jersey

Michael Haydinger First Montgomery Group

Regional Vice President Central Jersey William Dailey

Joseph Spadaccini The Kamson Corporation

Vice President Associate Affairs Ray Fiorica

CIS Management Inc.

AFR Furniture Rental

Secretary

Treasurer

Steve Waters

Lynne Aber

Morgan Propeties

Bertram Associates

Past Presidents Tom Kretsch, Segal & Segal Jonathan S. Gershen, Esq., The Gershen Group David Legow, Esq., Legow Management Company Peter J. Weidhorn Michael Goldberg, Goldberg Realty Associates Paul Kaliades, Renters Legal Liability Insurance Mark S. Rosen, Esq., Solomon Organization Norman A. Feinstein, Esq., The Hampshire Companies Herbert Brien, Lismarc Management Corp. Donald M. Legow, Esq., Legow Management Company Robert Goldberg, Goldberg Realty Associates Andrew B. Abramson, The Value Group, Inc. Richard Segal, Segal & Segal Sam Herzog, S.A.M. Holding Company Alfred Sanzari, Alfred Sanzari Enterprises (1932-2005)

Executive Director Jean Maddalon NJAA

November 2011 | AIM


President’s Message

Honoring the Best in Our Industry by Jeff Smith Kriegman & Smith, Inc.

Y

ear after year we honor the companies and individuals who provide the highest level of customer service to their residents at our Garden State Awards Dinner. The 18th Annual Garden State Awards was held at The Hyatt Regency in New Brunswick on October 20 with over 550 members in attendance. Property Owners and Managers, Leasing Consultants, Maintenance Supervisors, Regional Managers, Corporate Staff and Associate Members joined the Association in celebration of the accomplishments of our nominees, finalists and winners and the chance to network with friends and colleagues.

their time to make this event possible. To see photos of the award winners, turn to page 19.

This year’s nominees represent a diverse range of individuals and communities and were reviewed in a detailed evaluation process. Judges used a comprehensive scoring system that covered the basics and also recognized the extra effort and dedication that all of the nominees bring to the industry. From the array of properties and staff represented, we can all see how much our industry continues to grow. Congratulations to all of the Garden State Award nominees, finalists and winners who set the standard for quality service in the multi-family housing industry. And a heartfelt thanks goes out to all the judges who gave up so much of

In addition to the Awards Presentation, a toy drive for the Annual Children’s Holiday Party was held at the event with over 300 toys collected for this year’s party! I’d like to thank our generous members for kicking off our toy drive with a bang! The holiday party will be held on Monday, December 12th at our new venue, the Meadowlands Expo Center and I urge you all to host a toy drive at your properties or volunteer for the day. It is truly a heartwarming event. See page 11 for a toy drive poster you can put up at your community or office. Contact Niambi Ivery at 732-992-0606 if you need additional posters.

AIM | November 2011

One way to achieve excellence in customer service is through education, so this year’s event also recognized the 35 individuals who have received industry related certifications through the NJAA’s education programs. The Association is always trying to come up with new ideas to help educate our members. See page 41 for our Education Calendar and take a look at the many ways one can earn Certifications or Continuing Education Credits (CEC) to maintain NAA designations.

In early October we held our Eighth Annual NJAA PAC Reception. I would like to thank our members and friends who attended the event at the Crestmont Country Club. A record crowd of over 100 attendees were treated to a lively conversation between former Governors Jim Florio and Don DiFrancesco, moderated by Jim Hooker. The far-ranging discussion covered such hot-button issues as Gov. Chris Christie’s recent decision not to seek the GOP nomination for President, the State’s long-range debt crisis, cancellation of the a trans-Hudson ARC tunnel, the future of casino gaming in Atlantic City, and the need to focus redevelopment on our urban centers. I’d like to again congratulate the finalists and winners. A special congratulations to Value Companies, Inc. for taking home Management Company of the Year - Market Rate and to CIS Management for winning Management Company of the year - Affordable. As you all know the real winners here are your residents. You have each made a significant difference in their quality of life. You set an example for the industry to follow by providing the best homes New Jersey’s multi-family housing has to offer. n




New Members

Welcome New Members Owners AKS Property Management Mr. Eric Krantz 2175 Hudson Terrace Fort Lee, NJ 07024 Phone: (201) 947-2200 Fax: (201) 947-9517

If you know of anyone who might be interested in membership please contact Casey O’ Brien at casey@njaa.com and help strengthen your Association and the multi-family housing industry.

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Member News

Member News JOIN US IN WELCOMING JACLYN OLSZEWSKI TO NJAA! Jackie is the newest addition to the NJAA team joining us as Administrative Assistant. She is a graduate of Kutztown University with a concentration in Marketing. She can be reached at Jaclyn@njaa.com or (732) 992-0604 – please give her a warm welcome! CASEY O’BRIEN IS NOW EDUCATION & MEMBERSHIP SERVICES COORDINATOR Are you interested in submitting an education proposal? Would you like more information on NJAA seminars? Do you know a company who is not a member but should be? Please contact Casey at (732) 992-0609 or casey@njaa.com for all of your membership and education needs. WELCOME CONNIE LUONGO Kipcon Inc. welcomes Connie Luongo, who joins Kipcon at the engineering firm’s headquarters in North Brunswick where she will be managing the firm’s overall marketing initiatives. Luongo brings over ten years of experience in marketing, advertising and business development, with a particular focus on marketing for companies within service based industries. Luongo is experienced in serving clients within the community association market sector and her involvement within this sector has included AIM | November 2011

the development of an accredited continuing education course for Certified Managers of Community Associations (CMCAs).

COMMUNITY INVESTMENT STRATEGIES HOSTS RIBBON CUTTING FOR HERITAGE VILLAGE AT SEABREEZE Community Investment Strategies (CIS), Inc., celebrated the official opening of Heritage Village at Seabreeze, a 100-unit senior living apartment-rental community in Forked River. The newly constructed, affordable, maintenance-free complex, which is located at 1031 Newark Avenue North adjacent to Seabreeze at Lacey, welcomed its first residents last month. Developed by CIS and managed by its affiliate, CIS Management Inc., both based in Lawrenceville, N.J., Heritage Village at Seabreeze features spacious contemporary layouts, ranging from approximately 700 to 1,000 square feet. “The vision for Heritage Village at Seabreeze is now a magnificent reality thanks to a collaborative partnership between public officials, private developers and community leaders,” said Christiana Foglio, CIS’ founder and chief executive officer. “Individual and collective creativity, persistence and agility has resulted in a new affordable housing standard that supports and addresses the needs of today’s senior lifestyle.”

ENERGY SQUARED WELCOMES NEW SR. PROJECT MANAGER JOHN PULLEY, PE Energy Squared LLC is pleased to announce the addition of John Pulley, PE, who joins the firm as a Senior Project Manager at its headquarters in North Brunswick. Mr. Pulley brings over 24 years of mechanical engineering expertise to the firm. At Energy Squared, Mr. Pulley will utilize his experience by serving as the Senior Project Manager on design projects for the firm. THREE LOCAL CHARITIES BENEFIT FROM WALTERS GROUP’S GENEROSITY Supporting local charities is an ongoing mission for employees of Walters Group. The staff has come together to strengthen its community support by organizing collections that benefit the Salvation Army, Operation Open A.R.M.S., and the FoodBank of Monmouth and Ocean Counties. The cumulative effect of the Walters Group’s dedication to the community was made clear this summer when the employees collected $2,100 and 825 pounds of food items during their annual food drive benefiting the FoodBank of Monmouth and Ocean Counties. In another campaign, Walters employees showed their generosity in an effort to benefit Operation Open A.R.M.S., by collecting items for care packages sent to servicemen and women overseas. In another effort to aid neighbors in need, Walters’ headquarters in Barnegat is a Salvation Army drop-off site for ongoing clothing collections. Over the years, the Walters Group has been an active supporter of many local organizations in need. n




Committee Corner

Your fellow members at work Board Of Directors On Tuesday October 4th the NJAA Board of Directors met and among other agenda items, approved a break even budget for 2012. The Board voted not to increase dues for either Owner Members or Associate Members. This marks the 5th year the Association has not increased dues. Additionally the Board voted to continue NJAA’s affiliation with NAA for 2012. Per the Association by-laws the Executive Committee will be putting together a slate of nominees for the Board of Director seats that are up for election in 2012. If you would like to be considered by the Executive Board for the slate, please send your name, a short bio and any other information you feel the Executive Board should be aware of, to Jaclyn Olszewski at jaclyn@njaa.com. Vendors Committee In continuing to provide additional value to its Associate members, NJAA created the Vendors Committee which will serve as the advocate for fellow vendors to address issues and become even more engaged in the processes and programs of the Association. This new committee will also work in conjunction with, and as an extension of, the Membership Committee by focusing their attention on a proactive approach to recruitment, retention and servicing the needs of current and future members. The committee members will provide a forum for the advancement of fellow associate members and represent their interests by sharing their input to help make NJAA an even stronger organization. The first educational program hosted by the committee will be held at NJAA’s headquarters in Monroe Township on Tuesday, November 29th at 9am. For more information contact Casey O’Brien at casey@njaa.com.

NJAA Charitable Fund Board of Directors The NJAA Charitable Fund Board of Directors met on October 27, 2011. Among other things, the group approved the operating budget for 2012. The Charitable Fund is proud to announce the adoption of a new logo, the creation of its Facebook Page (search: NJAA Charitable Fund) and is pleased to announce the reinstatement of the Scholarship program. This program will be managed by an outside firm and will be based on academic achievement and need. There will be two categories of scholarships awarded. Two $1,500 scholarships will be awarded to member employees or their dependents and two $1,500 scholarships will be available to residents of NJAA member properties. The official rules and application will be available in the December issue of AIM. Thank you to Jénel Marraccini of Cohen & Willwerth for creating the new logo.

Charitable Fund

NJAA Charitable Fund Holiday Party Committee The Children’s Holiday Party Committee is currently working on the upcoming Holiday party, which will be held at a new location, the Meadowlands Expo Center on December 12. To host a toy drive or volunteer for the event, please contact Niambi Ivery at niambi@njaa.com. Sponsorship opportunities are still available for this event. Coming to the NJAA offices? Please think about bringing an unwrapped toy for the Holiday Party! Garden State Awards Committee The Garden State Awards Committee has already begun working on next

year’s event. Thank you for those who completed our event survey. The Committee will be assisting in redesigning the process to improve the experience for everyone from judges to nominees to attendees and sponsors. Convention Committee The Convention Committee has announced dates and the site for the 2012 Conference & Expo, including hotel info. The Conference will return to the Atlantic City Convention Center with the Borgata as the host hotel. Currently the committee is finalizing the Keynote Speaker and entertainment and looking to choose a second keynote speaker for Wednesday. Visit www.njaa.com/ annual-conference-and-expo-2012 for more information. Membership Committee The membership committee will host a New Member Reception at the Annual Meeting for the third year in a row. All new members in 2011 will be invited to this free event preceding the Annual Meeting. NJAA will have a booth at the 2012 builders show in April to boost member development. If you know a company who is not a member but should be, contact Casey at casey@njaa.com. Education Committee The Education Committee is accepting suggestions for speakers for both the 2012 conference and in-house education. If you are a speaker or are interested in becoming one, consider participating in NAA’s AIT (Advanced Instructor Training) session which will be held on February 27-29, visit www. njaa.com/education-and-events for more information. Bylaws Committee The Bylaws Committee is currently reviewing the existing NJAA Bylaws with an expected completion date of December 2011.


Multifamily Market Update

Fast Facts

November 2011

The mul�family industry has certainly been impacted by the weakness in the jobs sector and lack of strong economic growth in the state. Effec�ve mul�family rents (actual rents a�er concessions) had fallen precipitously a�er peaking in 2008, and in the third quarter nominal rents have climbed to finally exceed those levels ($1,322 in Q3 2011 versus $1,318 in Q3 2008). The mul�family sector has now seen posi�ve nominal rent growth each quarter for the past two years. It is important to note that infla�on over this period has exceeded rent growth, resul�ng in a decrease in real (infla�on adjusted) effec�ve rents.

Multifamily Rents and Vacancy Rates Thrid Quarter 2011 versus Third Quarter 2010 Asking Rent $

% Chg % Chg Effective Vacancy Q3 '10 to Q3 '10 to Rent $ % Q3 '11 Q3 '11

Bergen County

$ 1,584

1.7%

$ 1,531

1.9%

3.7%

Essex County (Eastern)

$

904

2.4%

$

874

2.6%

6.0%

Essex County (Western)

$ 1,528

2.1%

$ 1,472

2.4%

2.8%

Hudson County

$ 2,614

2.2%

$ 2,523

2.3%

5.2%

Mercer County

$ 1,101

1.5%

$ 1,059

1.6%

3.3%

Middlesex County

$ 1,216

1.7%

$ 1,181

1.9%

3.0%

Monmouth County

$ 1,127

1.7%

$ 1,100

1.9%

3.9%

Morris County

$ 1,266

2.9%

$ 1,207

2.9%

2.8%

Ocean County

$

998

1.3%

$

954

1.3%

3.3%

Passaic County

$ 1,265

1.2%

$ 1,206

1.3%

3.3%

Somerset County

$ 1,277

0.9%

$ 1,238

1.3%

4.0%

Union County

$ 1,182

0.0%

$ 1,109

0.0%

4.0%

Average

$ 1,372

1.7%

$ 1,322

1.9%

3.9%

Source: NJAA Tabulations of Data Provided by Reis, Inc. All rents are gross rents. Asking rents reflect advertised rental rates before any concessions are offered. Effective rents reflect the actual rent charged over the lease term (asking rents minus any concessions).

New Jersey Effective Rent Growth $1,330 $1,320 $1,318

$1,310 $1,300 $1,290

$1,322

$1,315

$1,314

$1,308

$1,307 $1,302

$1,296

$1,296

$1,295 $1,287

$1,280

$1,286

$1,270

$1,286 $1,276

$1,278

Q4 2009

Q1 2010

$1,260 $1,250

Q1 2008

Q2 2008

Q3 2008

Q4 2008

Q1 2009

Q2 2009

Q3 2009

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011


Road to Success

What Does it Take? Winning in Today’s Rental Market by Robert A. Francis Planned Companies

O

ur business boils down to one thing - resident satisfaction and retention. For companies who provide services for rental properties, positive word-of-mouth is key in attracting and retaining clientele during a difficult economic climate. In our hyper-connected world where Twitter breaks news, there are so many avenues for residents to share their experience, positive or negative. So it is crucial that companies have specific controls in place to make that experience as enjoyable and memorable as possible. It is important that you examine and re-examine what it takes to truly differentiate yourself in the marketplace and consistently deliver that to your colleagues, clients and communities. So what DOES it take? No one has all the answers of course but there are three crucial components to differentiate your brand and win in today’s marketplace. Your People The overall professionalism and performance of everyone from the leasing and management team to the on-site personnel such as maintenance, front desk, janitors and security guards, directly affect your company. Therefore, it is critical that the front-end process of employment screening and selection be a systematic part in creating a winning culture. This process will determine if the job applicant possesses the longevity (looking for a career not just a job), the integrity (it cannot be taught) and the customer service skills (stemming from a positive attitude) to work within your community. Technology Our next pre-requisite to creating a successful company is the use of technology. This can be further broken

down into two areas, sales and service. For sales, the use of Search Engine Optimization and social media can effectively brand and market your company and community in a way that attracts and retains your target clientele. Most people who are looking to relocate go online to find communities in which to live. That’s why getting your company’s message out to the world via the internet is to your advantage and can be created in a genuine and professional way with a nominal degree of effort or cost. On the service side, technical enhancements have certainly raised the bar for property management services. Automated systems can increase the asset life of the mechanical systems on-site. They can and will shed light on the entire work order system, inclusive of productivity, timely completion, and prioritization. Package handling, contractor access, visitor and guest announcements, and key handling, are all increasingly being entered and monitored via these technical systems. These systems also can be applied to security and safety operations within the community. The gatehouse, the lobby entrance and the front desk are all technologically enhanced. To make properties more energy efficient, automated systems can be used to monitor energy usage (heating, lighting, electric, etc.) and gauge where savings can be obtained without sacrificing service. Even simple automated things like common area dispensers for paper towels and hand soap not only save money, but are environmentally friendly as well.

continued on page 14 12

November 2011 | AIM


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Road to Success Winning in Today’s Rental Market continued from page 12 Your Culture Last, but by no means least, the final component to success is your company’s culture. In addition to the right people and technology, how you reward and recognize service standards and exceptional performance makes all the difference. This means that when using the technology to address how timely the work order system is functioning, or how sales are increasing, associates completing these tasks are empowered, engaged, respected and treated in a way that promotes excellence. This can be accomplished in several ways, including emails and newsletters acknowledging instances of remarkable conduct. In addition, it could be a call by upper management or a hand-written note expressing sincere gratitude – which actually makes more of a difference than some might imagine. It could be remembering anniversary dates and birthdays – and not just of the on-site team, but for your residents. To recognize someone who has been a resident for five years with flowers and a note, or a gift card to a local restaurant shows that you really appreciate them, not just as residents, but as people.

Ultimately, these components I’ve outlined comprise the three-fold answer to the question, “What DOES it take?� Your people, your technology, and your culture are the foundation upon which your organization must build its reputation for excellence. It is this reputation that will differentiate your brand and drive wins in today’s rental market. n At only the age of 38, Rob Francis is President of one of the fastest growing security and building services companies in New Jersey and New York, The Planned Companies. With four generations’ experience, The Planned Companies, with subsidiaries Planned Security Services and Planned Building Services, offers its clients unparalleled consistency and quality of service required for corporate, commercial/retail and residential properties. For more information about The Planned Companies and its subsidiaries, contact the Company’s Fairfield, New Jersey headquarters at 973-808-1008 or 1-888-706-8600.

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14

November 2011 | AIM


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Tools of the Trade

Personal Relationships Are Key to Long-term Success By Ken Uranowitz Gebroe-Hammer Associates

M

ulti-family brokerage is all about relationshipbuilding, especially in a complex market like New Jersey where the majority of properties are owned by private investors and their families. Business acumen, knowledge of market and economic trends, creativity and astute dealstructuring capabilities may be the building blocks for long-term success in commercial real estate, but brokers have an empty toolbox without a solid client roster. Based on customer service, relationship-building is a rather simple concept: listen to clients and succeed in meeting their very specific investment requirements and needs, whether it is to acquire or sell a single building, orchestrate the trade of a portfolio or serve as the court-appointed representative in a distressed property transaction. The role of a broker, by its very nature, is that of a liaison, an intermediary. This function involves property owners considering a sale and buyers seeking to invest, as well as legal counsel and lending institutions. These relationships are especially important to keep pace with the ever-evolving economic and real estate cycles, particularly today. The current multi-family market is characterized by a strong tenant pool and occupancy rates, rising property values and declining cap rates and bankfriendly interest rates, all of which bolster investor interest. These conditions, along with a lack of for-sale product to quench investor thirst for every asset class, from A and B to C, are feeding unrelenting demand…and competition for representation. While the initial goal of a broker/client relationship might be to secure repeat business, the ultimate objective is to gain invaluable referrals. Good, strong client relationships lead to a first-class reputation where transparency, honesty and immediate follow-through are just as important as expertise. Brokers must work to keep the deal moving forward, serving the clients’ needs and always maintaining

the integrity and trust of the parties that is so vital for the broker and the firm to succeed in both the short and longterm. Investment brokerage firms also must make a long-term commitment to their own people. Mentoring programs, which incorporate a tenacious hands-on approach, are extremely effective when it comes to instilling a company’s value system, including practices related to relationship building and work ethic all interwoven with the highest moral fiber. Establishing one of the first-of-its-kind broker mentoring programs were visionaries Mel Gebroe and the late Morris Hammer, founders of Gebroe-Hammer Associates. These widely recognized, well-respected industry icons subscribed to an unwavering philosophy that continues to guide the firm that bears their name today – only a welltrained broker can yield satisfied clients. For more than 36 years, this concept has been at the core of a successful in-house mentoring program that has allowed the firm to expand its professional staff while enhancing its distinctive posture within the commercial real estate industry. Goals are articulated and business practices are carefully imparted to the next-generation of brokers, who often find early and enduring success in their own right. Relationship building obviously encompasses more than forging unity with owners and investors. Banks and other financial institutions, as well as legal counsel and courts, are all an important part of the equation. The value of these relationships, while important to maintain on an on-going basis, became integral in the latest economic downturn. As anticipated, the recent recession prompted a wave of distressed debt and note sales involving the sale of non-performing bank debt. Relying on long-standing continued on page 18

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November 2011 | AIM


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Tools of the Trade Personal Relationships Are Key to Long-term Success continued from page 16 relationships with lenders, other creditors and attorneys, brokers were called upon to handle these atypical transactions, many of which involved Chapter 7 or 11 Bankruptcy filings. Sec. 363 sales for debtors in possession as well as lenders and numerous other creditors became the norm. These types of transactions require highly specialized brokerage knowledge and expertise, enhanced by the resources generated from relationships within the market. Ultimately, success can only be insured by the cooperation and expertise of an entire team, from the brokerage professionals to in-house support staff. Having everyone focused on the same ideals and goals – “on the same page” – never goes out of style in this competitive business. n Ken Uranowitz, Managing Director of Livingston, N.J.-based GebroeHammer Associates has been with the firm since its inception in 1975 and rose through the ranks from sales associate, to his current role. He is credited with establishing new sales benchmarks and carrying forth Mr. Gebroe and Mr. Hammer’s standards for integrity, creative deal structuring and excellence. Gebroe-Hammer markets suburban and urban highrise, mid-rise and garden-apartment buildings as well as mixed-use and free-standing office and retail properties throughout New Jersey, New York and Pennsylvania, including Philadelphia, and the Northeast. Widely recognized for its consistent sales performance, the firm is an eighttime CoStar Power Broker. 18

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2011

Higher Learning

NJAA DIAMOND SPONSORS

DO YOU HAVE NEWS YOU’D LIKE TO SHARE WITH US? We’re always looking for interesting news about our members to publish in the Member News section of AIM. You can send press releases with photos and other member news items such as new hires, promotions, company successes, milestones etc. to Christine Haber ELIAS B. COHEN & ASSOCIATES at christine@njaa.com.

INSURANCE AGENTS n BROKERS n CONSULTANTS

Thank You


18th Annual Garden State Awards & Recognition Dinner

20 11

The 18th Annual Garden State Awards & Recognition Dinner was held on Thursday, October 20 at the Hyatt Regency New Brunswick. Over 550 members attended the event to celebrate the achievements of our certified designees, nominees, finalists and winners. 59 awards were presented to property staff, associate members and management companies. We would like to thank Brent Kohere, our Master of Ceremonies, Jackie Ramstedt, our awards co-presenter and Larry Falkow & Colleen Brown, our event photographers for helping us make the night memorable. Thank you also to our Signature, Cocktail Reception and Centerpiece sponsors.

Signature

Cocktail Reception

Centerpiece


2011 Garden State Award Winners Management Company of the Year (Affordable)

CIS Management Inc

Management Company of the Year (Market Rate)

Value Companies, Inc.


2011 Garden State Award Winners Regional Manager of the Year

Erik Sabotka Morgan Properties

Property Manager of the Year Central New Jersey

Melissa Sheil Arbors at Franklin Township Fieldston Properties, LLC

Property Manager of the Year Northern New Jersey

Barbara Sullivan

Avalon Lyndhurst & Rutherford Station

AvalonBay Communities

Property Manager of the Year Southern New Jersey

Teri Peek-Roberts Roberts Mill Apartments Morgan Properties accepted by a colleague from Roberts Mill Apartments

Property Manager of the Year Affordable

Judy Kohlmyer Stanfill Towers PRD Managment, Inc.

Leasing Agent of the Year: Over 200 Units Northern New Jersey

Melissa Lefort Monaco Roseland Property Company

Leasing Agent of the Year: 200 Units and Under Northern New Jersey

Jodi Credle Mount Arlington Gardens Morgan Properties Leasing Agent of the Year Central New Jersey

Cassandra Lazazzaro Barrington Gardens Home Properties


2011 Garden State Award Winners Leasing Agent of the Year Southern New Jersey

Wendy Walsh, NALP The Village at Voorhees First Montgomery Group, AMO

Leasing Agent of the Year Management of Multiple Properties

Betsy Trible Foxhall Apartments Value Companies, Inc.

accepted by a colleague from The Village at Voorehees Activities Coordinator, Resident Relations, Customer Service Manager of the Year

Sherry Elsasser Nora Gardens PRD Management, Inc.

Maintenance Supervisor of the Year 200 Units & Under (Northern New Jersey)

Agron Sylaj Worthington House Goldberg Realty Associates Maintenance Supervisor of the Year (Central New Jersey)

Jarek Halajko Crestview Apartments Value Companies, Inc.

Resident Maintenance Manager of the Year

Terry Birchenough Highgate Apartments Kriegman & Smith, Inc.

Maintenance Supervisor of the Year Over 200 Units (Northern New Jersey)

Ricky Young Gateways at Randolph Value Companies, Inc. Maintenance Supervisor of the Year Southern New Jersey

John Sola Plymouth Place Pennrose Management


2011 Garden State Award Winners Maintenance Supervisor of the Year Multiple Properties

Pete Mroz Value Companies, Inc.

Maintenance Technician of the Year Central New Jersey

Marty Jones Avalon Tinton Falls AvalonBay Communities, Inc.

Groundskeeper / Porter of the Year

Mary Rosenberger Franklin Square Village PRD Management, Inc.

Property Office Staff of the Year Northern New Jersey

Christine Frey Oakwood Village Morgan Properties

Maintenance Technician of the Year Northern New Jersey

Carlos Agudelo Avalon Cove AvalonBay Communities, Inc.

Maintenance Technican of the Year Southern New Jersey

Pat Devera The Village at Voorhees First Montgomery Group, AMO

Corporate Office Staff of the Year

Beverly Nahill PRD Management, Inc.

Property Office Staff of the Year Central New Jersey

Dawn Esposito Riverside Towers Morgan Properties


2011 Garden State Award Winners Property Office Staff of the Year Southern New Jersey

Carole Rowell Mt. Ephraim Senior Housing PRD Management, Inc.

Curb Appeal - Garden / Low-Rise Built Before 1960 - Under 200 Units

Short Hills Village Morgan Properties

accepted by a colleague from Mt. Ephraim Senior Housing Curb Appeal - Garden / Low-Rise Built Before 1960 - Over 200 Units

Union Mill Run Fieldstone Properties, LLC

Curb Appeal - Garden / Low-Rise Built Between 1961-1980 - Central NJ - Over 200 Units

Avalon Princeton Junction AvalonBay Communities Curb Appeal - Garden / Low-Rise Built Between 1961-1980 - Southern NJ - Over 200 Units

Lumberton Apartments Morgan Properties

Curb Appeal - Garden / Low-Rise Built Between 1961-1980 - Northern NJ

Gateways at Randolph Value Companies, Inc.

Curb Appeal - Garden / Low-Rise Built Between 1961-1980 - Central / Southern NJ

Burnt Mill Apartments Morgan Properties

Curb Appeal - Garden / Low-Rise Built Between 1961-1999 - Affordable

Taunton Run Village PRD Management, Inc.


2011 Garden State Award Winners Curb Appeal - Garden / Low-Rise Built After 2000

Boulders at Rockaway Hekemian & Co., Inc.

Curb Appeal - Garden / Low-Rise Built After 2000 - Southern NJ - Affordable

Conifer Village at Deptford Conifer Realty

Curb Appeal - Mid / High-Rise Built Between 1981-1999 - Affordable

Stanfill Towers PRD Management, Inc.

Curb Appeal - Mid / High-Rise Built After 2000 - Affordable

Conifer Village at Middletown Conifer Realty

Curb Appeal - Garden / Low-Rise Built After 2000 - Central NJ - Affordable

Heritage Village at Manalapan CIS Management Inc

Curb Appeal - Mid / High-Rise Built Before 1980

The Towers of Windsor Park Morgan Properties

Curb Appeal - Mid / High-Rise Built After 2000

Avalon Rutherford Station AvalonBay Communities Best Managed Properties - Garden/Low-Rise Built Before 1960

Union Mill Run Fieldstone Properties, LLC


2011 Garden State Award Winners Best Managed Properties - Garden/Low-Rise Built 1961-1980 - Northern NJ - 200 Units & Under

Foxhall Apartments Value Companies, Inc.

Best Managed Properties - Garden/Low-Rise Built 1961-1980 - Northern / Central - 200 Units & Under

Sunrise Village Corsa Management

Best Managed Properties - Garden/Low-Rise Built 1961-1980 - Southern NJ - Over 200 Units

Jefferson Village Corsa Management

Best Managed Properties - Garden/Low-Rise Built 1981-1999

Hamilton Greene Scully Company

Best Managed Properties - Garden/Low-Rise Built 1961-1980 - Northern NJ - Over 200 Units

The Village Green Segal and Segal

Best Managed Properties - Garden/Low-Rise Built 1961-1980 - Central NJ - Over 200 Units

Tanglewood Morgan Properties

Best Managed Properties - Garden/Low-Rise Built 1961-1999 - Affordable

Millstream Apartments Conifer Realty

Best Managed Properties - Garden/Low-Rise Built After 2000

The Highlands at Hilltop Roseland Property Company


2011 Garden State Award Winners Best Managed Properties - Garden/Low-Rise Built After 2000 - Affordable

Heritage Village at Elton Corner CIS Management Inc

Best Managed Properties - Mid/High-Rise Built After 1981

Monaco Roseland Property Company

Best Managed Properties - Mid/High-Rise Built After 1981 - Southern NJ - Affordable

Conifer Village at Middletown Conifer Realty

Best Associate Company Website

Apartment Finder

Best Managed Properties - Mid/High-Rise Built Before 1980

Pierre Hekemian & Co., Inc.

Best Managed Properties - Mid/High-Rise Built After 1981 - Northern NJ - Affordable

Pine Street Urban Renewal CIS Management Inc

Best Property / Corporate Website

Corsa Management Corporate Website

Best Sales Representative (Associate Award)

Heather Kamasa Acadia Windows & Doors


2011 Garden State Award Winners Business Partner of the Year (Associate Award)

Congratulations to all of our nominees, finalists and winners! LEW Corporation

photos courtesy of Larry Falkow and Colleen Brown, The APTS


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Higher Learning

Timely Year End Planning Could Result in Tax Savings By Sefi Silverstein, CPA Wilkin & Guttenplan, P.C.

P

roperty owners planning for asset purchases such as equipment, computer software, furniture etc. (whether these acquisitions are purchased, financed or leased) should consider tax saving opportunities, especially those that are due to expire by year end. Tax savings opportunities also extend to real estate acquisitions, improvements or renovations. Given the right circumstances owners may benefit by accelerating such cash expenditures. Below is a summary of some of these opportunities which include:

Factors that favor capital improvement treatment: • Does the expenditure extend the life of the property? • Does the expenditure improve the efficiency, quality, strength and/or capacity of the property? • Does the expenditure increase the value of the property? If the expenditure is treated as a capital improvement, the accelerated depreciation deductions (Section 179 and Bonus Depreciation) discussed below may apply and potentially fully mitigate the effect of having to capitalize the cost of the asset in the first place.

• Section 179 (an expense deduction limited to $500,000) • Bonus Depreciation (an unlimited expense deductioncan be used if the $500,000 limit is reached) • Cost Segregation Studies (for larger real estate expenditures) First - Is it a Repair or a Capital Improvement? When a property owner incurs costs in connection with improving or maintaining the property, one of the most common tax questions is whether that expenditure should be treated as a capital improvement or as a repair. For tax purposes, the cost of a capital improvement is recovered over time through depreciation deductions. Expenditures constituting repairs, on the other hand, are eligible to be fully deducted in the year incurred and provide an immediate tax benefit. In most instances, property owners prefer repair treatment. There are several factors that must be considered in order to make the proper determination. Factors that favor repair treatment: • Does the expenditure merely maintain the building’s existing condition? • Does the expenditure restore the property to its previous condition? • Does the expenditure constitute routine maintenance? • Is the repair incidental to the property? 32

Section 179 The cost of capital expenditures typically cannot be fully deducted in the year acquired. These assets are depreciated over their useful lives, as prescribed by IRS tables. However, named after the IRS code section, the Section 179 rules allow businesses to elect to fully deduct up to $500,000 of the cost of qualifying property, rather than depreciating the asset over time. Unless Congress extends or amends current law, the Section 179 expensing election is scheduled to be reduced to $125,000 for qualifying purchases in 2012 and $25,000 (adjusted for inflation) thereafter. For the asset to qualify for Section 179 treatment it must meet the following criteria: • It must be tangible personal property (although, some real estate may qualify). Examples include equipment, computer software, office and computer equipment, office furniture, millwork, carpeting, etc. • New and used assets are eligible • The asset must be acquired and placed in service by December 31, 2011

continued on page 34 November 2011 | AIM


News from National

Multi-talented lenders... For multi-family financing.

NAA/NMHC Seek Member Input on CPSC Driven Change in Federal Pool Safety Laws NAA/NMHC are conducting a survey to help inform comments we will submit to the Consumer Product Safety Commission (CPSC) on its vote to change federal pool safety laws in ways that would impose additional compliance obligations on apartment firms. The survey is in response to a September 28 CPSC vote to revoke a prior “interpretive rule� defining unblockable pool drains. By revoking this interpretation, pool operators who followed this guidance, i.e., placed a compliant cover over a smaller blockable drain, may now be deemed non-compliant with federal regulations. Pools with multiple drains are not affected by this decision. Member firms that operate pools on their property are strongly encouraged to complete this short survey by the November 28 deadline. AIM | November 2011

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Higher Learning Timely Year End Planning Could Result in Tax Savings continued from page 32 Bonus Depreciation For larger capital expenditures (or when Section 179 limitations apply) there is an opportunity through December 31, 2011 to take a full deduction on certain qualified property (known as “100 percent bonus depreciation”). Similar to Section 179, bonus depreciation provides a substantial deduction for business owners as they are generally allowed to deduct 100 percent of the cost of certain assets placed in service that would otherwise be required to be capitalized and depreciated over time. Under current law, 100 percent bonus depreciation is scheduled to expire December 31, 2011, and will be replaced with 50 percent bonus depreciation for expenditures incurred during 2012 and zero percent thereafter. (As of the writing of this article Congress is considering extending 100 percent bonus to 2012). Bonus depreciation applies only to new (not used) assets. Additionally, • The asset must be acquired and placed in service between September 9, 2010 and December 31, 2011, (or by December 31, 2012 for 50 percent bonus depreciation) • The useful life of the asset, as prescribed by IRS tables, must be 20 years or less. Examples of qualifying assets include equipment, computer software, office and computer equipment, office furniture, millwork, qualifying SUV’s , and certain land improvements such as parking lots, fencing, landscaping etc. Section 179 and bonus depreciation provide an opportunity for property owners to purchase, lease or finance assets described above and, if placed in service by December 31, 2011, to take a deduction for the full cost. For Larger Real Estate Related Projects Consider a Cost Segregation Study (CSS) Most residential buildings and related improvements are depreciated over 27 ½ years for tax purposes (39 years for commercial building) . For example, a $1 million residential building cost or improvement would only yield about $36,000 of annual tax depreciation deductions. Cost segregation involves the process of analyzing costs for the purpose of identifying shorter lived assets which qualify for five, seven, or fifteen year depreciable lives that are grouped within the total building costs, and then treating them as separate assets for tax purposes. Some of these qualifying costs may not be obvious to the property owner. 34

Shorter lived assets such as dedicated HVAC, fixtures, millwork, special wiring/electrical/plumbing work necessary for the operation of specialized equipment, lighting, generators, land improvements and other components can be depreciated much more rapidly. Once these component assets are identified, not only are they eligible to be depreciated over a shorter period, but combined with the favorable depreciation rules described above, allow property owners to benefit from significant tax savings during the earlier years of the life of the property. A CSS can provide benefits to both existing and new properties, and for acquisitions and renovations in the current or prior years. The study also provides support for the allocation of assets in the event of an IRS audit. Since property owners may not have the expertise or time, most retain accountants and engineers to conduct a thorough CSS. An initial evaluation (typically done at no cost) is recommended to determine whether or not the study will be cost effective and if the property owner will benefit from the accelerated depreciation deductions. In cases where a study is justified, the owners can benefit by incurring lower tax liabilities in current and future years, or receive tax refunds from prior years (for acquisitions or renovations made in earlier years). Benefits can far exceed the cost of the study. Conclusion Understanding your tax position as you approach the 2011 year end, in conjunction with projecting your tax position in the year(s) to follow, is a factor in implementing the above options. It’s important to work with your tax advisors so you are positioned to take advantage of existing opportunities to save overall tax dollars on accelerated deductions and increase your return on investment. n Sefi Silverstein, Shareholder at Wilkin & Guttenplan, P.C., has been with the firm since 1985. Sefi specializes in providing tax consulting, tax compliance and related accounting services to closely-held businesses and individuals. Sefi has significant expertise in both business and individual taxation. Her focus is on real estate, but also includes professional and medical practices, as well as businesses and individuals in numerous other diversified industries.

November 2011 | AIM


S a ve t h e D a t e

Serving The Real Estate Community Real Estate Transactions Corporate Law Landlord Tenant Matters Commercial Litigation Real Estate Tax Appeals Housing Discrimination Matters Rent Control Applications Municipal Court Matters Personal Injury Cases Family and Matrimonial Law

SAVE THE DATE for NJAA’s 4th Annual Maintenance Mania March 13, 2012 NJ Convention & Expo Center Sponsorship opportunities are available! For additional information contact Niambi Ivery at 732-992-0606 or niambi@njaa.com

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Contact us by phone 973.472.9000 or fax 973.472.7222 AIM | November 2011

35


Eighth Annual NJAA PAC Reception Special Guests (l to r) former Governor Jim Florio, former NJN News anchor Jim Hooker, and former Governor Don DiFrancesco.

Jay Lombardo, CJ Lombardo with Neil Cohen, Elias B. Cohen & Associates and Adam Kaplan, Kriegman & Smith.

Past President and Host Committee member Tom Kretsch, Segal & Segal, with President and Host Committee member Jeff Smith, Kriegman & Smith, Board Member Jack Linefsky, Value Companies and Executive Board Member, Lynne Aber, Bertram Associates

Steve Rudolph, AFR Furniture Rentals with Board Member Dawn Green, Roseland Property Company and Steve Dicker, P. Cooper Roofing.

John Zoetjes, American Architectural Window & Door, with Host Committee Member and Executive Board Member William Dailey, CIS Management Inc, and Board Member Jason Kaplan, Kaplan Properties

photos courtesy of Larry Falkow, The APTS

Gov. Don DiFrancesco with Charles Schoenau, Insurent Lease Guaranty.


Conor Fennessy, VP of Government Affairs with Gov. Jim Florio, Executive Director, Jean Maddalon, Jim Hooker, Gov. Don DiFrancesco, and President Jeff Smith.

Board Member Matt Adler, Adler Development with Glenn Popowitz, Direct Supplies Warehouse and Past President, Board Member and Host Committee Member, David Legow, Legow Management.

Diane DiFrancesco and Gov. Don DiFrancesco, with Devra Goldberg and Carl Goldberg, both of Roseland Property Company

Executive Board Member Steve Waters, Morgan Properties with President Elect Brent Kohere, Home Properties.

Board Member Ann Emerson, Equity Residential with Gov. Jim Florio and Ron Simoncini, Axiom Communications.


THANK YOU TO OUR 2011 PAC CONTRIBUTORS Deposited as of October 12, 2011 Lynne Aber and Joseph Feldman Bertram Associates $2,000

John D. Cranmer, Esq. Archer & Greiner, P.C. $1,500

Matthew Adler Adler Residential $1,000

Dawn Curto, Devra Goldberg, and Carl Goldberg Roseland Property Company $2,500

Drew Barile and Scott Piotti Kohl Asset Management $1,000 The Barry Family Applied Property Management Co. $10,000 Stuart Berger, CPA Sax Macy Fromm & Company $500 Mark Bevevino Macadam Company, Inc. $1,000 David Brogan NJ Business & Industry Assocation $500 Andrew Cohen Rock Properties $1,500 Jonathan J. Cohen and Neil A. Owens Elias B. Cohen & Associates $1,000 Seth Cohen BNE Real Estate $500 Thomas E. Cohn, Esq. Coughlin Duffy LLP $500 Brian Collins and Ann Emerson Equity Residential Properties $4,000 Vincent Comperatore Comperatore Associates, Inc. $1,500 George D. Cowden Multi-Housing Depot By ARI $1,000

Michael Goldberg and Kenneth Goldberg Goldberg Realty Associates $10,000 Bruce Gudin and Derek Reed Levy, Ehrlich, & Petriello $1,000

William Dailey CIS Management Inc. $7,200

Gary Gordon and Tracey Goldstein Feinstein, Raiss, Kelin & Booker, LLC $1,000

Steven Dicker P. Cooper Roofing, Inc. $500

Alan Hammer, Esq., Sidney Donica, Daniel Pollack, and Allen Popowitz Brach Eichler LLC $2,500

William Diggs and Jill Nuckel Renaissance Equity, LLC $3,000 Larry Falkow The Apts $1,000 Ray Fiorica and Steve Rudolph AFR Furniture Rental $1,500 Robert Francis Planned Companies $500 Natale Gambuzza Marcus & Millichap Real Estate $500 Eric Gebroe Spin Cycle, LLC. $500 Nancy Geltman, Esq. Samuel Geltman & Company $3,500 Jonathan Gershen, Esq. The Gershen Group, LLC $1,000 Valerie Glassford Emlin Group, LTD. $500

Haydinger Family First Montgomery Group, AMO速 $10,000 Kate Hubschmitt NJ Carpenter Contractor Trust $500 George Jacobs, Raymond Kunz, and Neal Zimmerman JK Management, LLC $2,500 Jason Kaplan Kaplan Properties $1,500 Brent Kohere and Kevin Wilson Home Properties $2,000 Tom Kretsch Segal & Segal $7,200 Fredric Kruvant, Robert Kruvant, Rodge Kruvant, and George Sodowick, Esq. North Village Associates $1,000 Jeff Kurtz, Michael Beirne and Joseph Spadaccini The Kamson Corporation $9,000


Ronald Ladell AvalonBay Communities, Inc. $1,000

Caryl Ratner Forest Hill Properties $3,500

Anthony Lauro Affiliated Management, Inc. $1,500

Carol Richards and Anthony Richards Corsa Management $1,500

The Legow Family Legow Management Company $41,250 Largest Family Contribution in 2011 John Leonard The Streamwood Company $100 Jack Linefsky and Andrew Abramson Value Companies $1,500 Jerome Lombardo and Jay Lombardo C.J. Lombardo Company $2,000 Rich Maser and Jeromie Lange Maser Consulting $1,000 James McGrath PRD Management, Inc. $1,000 Andrew Muroff Muroff Lewis Associates, LTD. $1,000 Michael O’Dea, Mark Mierop, Adam Slamiak and Frank Rocco Hekemian & Company, Inc. $3,000 Jack Onorati and Thomas Carvagno Onorati Construction Company $1,000 Diana Penn JMG Realty, Inc. $1,000 Sherri Perna CallSource $500 Glenn Popowitz Direct Supplies Warehouse $500 Allen Rapaport J. Rapaport Flooring $200

Marshall Rosen, Mark S. Rosen, Esq., and Marc S. Solomon Solomon Organization $4,500 Jeffrey Sands Hilton Realty $4,000 Charles Schoenau Insurent Lease Guaranty $500 David Siegel and Craig Reeves Sr. Coinmach Corporation $2,000 Ron Simoncini Axiom Communications $1,000 Jeffrey Smith Kriegman & Smith, Inc $7,200 Larry Stein Appliance Brokers, LTD. $500 John Taylor M & T Realty Capital Corporation $500 Kenneth Uranowitz Gebroe Hammer Associates $500 Stephen Waters Morgan Properties $1,500 Jeffrey Wiener and Jeff Squires Kislak Company, Inc. $1,000 John Zoetjes American Architectural Window & Door $1,000

NJAA PAC Reception Record Crowd Hears from Two Former Governors A record crowd was in attendance for the Eighth Annual NJAA PAC Reception on October 4th and heard a wide-ranging discussion from special guests, former Governors Jim Florio and Don DiFrancesco. Thus far in 2011 we have raised over $190,000 for NJAA PAC and are approaching our goal of $200,000. If you have not made a contribution to this important fund, please considering doing so today. Your support of $1,000, $500 or even $250 helps us get our message out to opinion leaders and decision makers. Help the NJAA support candidates who support our pro-apartment living message. For photos of the event, please turn to the previous page. Contact Conor Fennessy in the Trenton Office, 609-3935200, for more information.


Ad Directory

Advertisers

NJAA Mug Shots

Please take a look at the following members who support NJAA with their advertisement in this issue of AIM. 3

American Architectural Window & Door

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Bargold Storage Systems

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CallSource

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Direct Supplies Warehouse

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Feinstein, Raiss, Kelin & Booker

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Fowler Companies

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Gebroe Hammer Associates

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Griffin Alexander, P.C.

18

Jacobson, Goldfarb & Scott

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JLA Floor Contractors Corp. The Kislak Company, Inc.

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Manhattan Welding Company, Inc.

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Mitchell Supreme

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NJ SmartStart Buildings

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Oritani Savings Bank

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P. Cooper Roofing, Inc.

Back Cover

P.C. Richard & Son

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The Provident Bank

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Rent.com

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TrashPro

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Holiday Party Committee Chairs, Heather Kamasa of Acadia Windows & Doors and Margaret Vitale of The Kamson Corporation with their NJAA mugs.

In celebration of our 25th Anniversary we handed out mugs featuring our anniversary logo at the 22nd Annual Conference & Expo. Send us a photo with your mug and see yourself in AIM. Photos can be e-mailed to Christine Haber at christine@njaa.com (please include your name and company). Need a mug? Stop by our offices in Monroe Township to pick one up today!

For more photos of NJAA members and events, visit our website and click the Education and Events tab, then click Event photos. You can also like NJAA on Facebook to view our online photo albums. November 2011 | AIM


2011-2012 Education and Event Calendar 2011

2012

N O VEMBER 29 FREE

Vendors: Learn How to Get the Most Out of NJAA Membership by a panel of NJAA Members

Understanding and Dealing with Hoarding Breakfast and Presentation hosted by NJAA 30 and JAHMA - Renaissance Woodbridge Hotel $45 for NJAA by Bruce E. Gudin, Esq, Levy, Ehrlich, Petriello; & JAHMA Deborah M. Gershen Gennello, CPM, The Gershen Group; Mary Anne Ross, COPSA members / $55 for non- Institute, University Behavioral Healthcare; Steven Majewski, Coordinator of the Outreach members Department, COPSA Geriatric Services and a township official.

D E CEMBER 12

14th Annual Children’s Holiday Party see page 5 for information on hosting a toy drive or volunteering for the event.

Share Your Expertise with NJAA Members Now Accepting Education Proposals for 2012! Do you or your company have knowledge on a particular topic or subject that would be of interest

J A N U A RY 11 FREE

Understanding Credit Scoring & Interpreting Credit Reports for Resident Screening by Jamie Borodin, National Tenant Network

25 $145

Annual Membership Meeting Imperia on Easton, Somerset

F E B R U A RY 27-29 FREE

NAA Advanced Instructor Training (AIT) Location TBD

MARCH 8 FREE

13

Socializing Your Community - Social Media by Apartments.com Maintenance Mania NJ Convention & Expo Center, Edison

APRIL 24-25

CAMT Plumbing by Mike Goldberg, RestoreCore

to fellow NJAA members? If so, now is the time to submit your presentation proposal. All proposals will be considered, provided they include subject title, speaker name(s), program length and brief program outline. Additionally, we are in need of instructors for

M AY 21

the following NAA Designation courses and programs: National Apartment Leasing Professional (NALP), Certified Apartment Managers (CAM) and Fair Housing

21-23

and Beyond. If interested, please complete and submit a Proposal Request. If available, please include handouts, PowerPoint and other session materials intended for class use. Please call Niambi Ivery directly at (732) 992-0606 for more information.

Unless otherwise noted, all sessions are held at NJAA Headquarters. For more information and non-member rates contact us at 732-992-0600 or visit the Events Calendar at njaa.com.

Annual Convention Golf Outing Ballamor Golf Course, Egg Harbor Township 23rd Annual Conference & Expo Atlantic City Convention Center & Borgata Hotel

JUNE 5-6

13 FREE

CAMT Electric by Mike Goldberg, RestoreCore Capture and Retain Residents through Popular New Media Channels by Apartments.com

SEPTEMBER 12 FREE

Interactive Multifamily Marketing by Apartments.com


CELEBRATING OUR 105TH YEAR

Recent New Jersey Multifamily Sales

East Orange, New Jersey 206 Residential Units $9,100,000

Pompton Lakes, New Jersey 68 Residential Units $7,900,000

Orange, New Jersey 120 Residential Units $7,765,000

Princeton, New Jersey 80 Residential Units $6,250,000

Teaneck & Elmwood Park, New Jersey 57 Residential Units $5,080,000

Trenton, New Jersey 63 Residential Units $4,850,000

East Orange, New Jersey 76 Residential Units $3,100,000

Elizabeth, New Jersey 41 Residential Units $2,955,000

Asbury Park, New Jersey 22 Residential Units $1,765,000

multifamily. The Kislak Company, Inc.

retail.

office. www.kislakrealty.com 732 750 3000


$

AN EFFORTLESSLY

BETTER BOTTOM LINE Savvy facilities managers are taking a whole-building approach to energy savings with Pay for Performance from New Jersey’s Clean Energy Program. How? Their program partner creates an energy reduction plan that triggers financial incentives to help pay for projects and upgrades that will radically slash their utility bills. Best yet? The more energy they save, the more incentives they earn… up to $2 million per project plus another $1 million on Combined Heat & Power (CHP) installations!

FINANCIAL INCENTIVES AVAILABLE New Jersey’s Clean Energy Program™ offers an extensive collection of comprehensive initiatives that make energy efficiency more accessible than ever. You’ll save up front through sizeable financial incentives and down the line with dramatically reduced utility bills.

To get your share, visit NJCleanEnergy.com/BIZ or call 866-NJSMART to speak to a representative.

NJ SmartStart Buildings® is a registered trademark. Use of the trademark without permission of the NJ Board of Public Utilities is prohibited.


104 Interchange Plaza, Suite 201 Monroe Township, NJ 08831

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2/7/2011

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