Suites
Published by the Northeast Ohio Apartment Association
Industry Profile:
Joy Anzalone Burton Carol Management, LLC
February 2010
Also inside: Stone Ridge: Key Award’s Property of the Year Group Purchasing: CBCAmRent Calendar of Events
Group Purchasing NOAA’s new group purchasing members complete your savings puzzle!
Ahola Payroll Services Jeffery Alhola (440) 717-7620 x 147
Duffy + Duffy Cost Segregation Dennis Duffy (440) 899-9560
HH Gregg Appliances Stu Kaine (216) 276-0436
Neace Lukens Renter’s Legal Liability Jeffery P. Reisner (216) 446-3336
Careworks Consultants Workers Compensation John Motil (216) 606-1100
First Communications Telephone Service, DSL Bill Kimble (800) 203-7181
IGS Energy Natural Gas Supply Scott Arthur (877) 923-4447 x 2605
North Shore Energy Natural Gas Supply Gary Greulich (330) 807-4438
CBCAmRent Resident Screening Amy Stauffer (216) 262-1690
H. Leff Electric Company Electrical Supplies George Griffith (216) 432-3000 x 260
Javitch, Block & Rathbone Collections Stephan Babik (216) 623-0000 x 5033
The Sherwin Williams Company Paint & Carpet Mike Finazzo or Chuck Jenninnson (216) 271-6111
Powers Friedman Linn, PLL Attorneys at Law
Providing quality legal advocacy and counsel to owners, managers and landlords throughout Ohio.
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Four Commerce Park Square 23240 Chagrin Blvd. Suite 180 Cleveland, OH 44122 Phone: 216.514.1180 Fax: 216.514.1185
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Northeast Ohio Apartment Association 1468 West Ninth Street • Suite 110 Cleveland, OH 44113 216.241.1635
Executive Officers President Nick Secue Zaremba Management Co. Immediate Past President Christopher Smythe Smythe Property Advisors President-Elect Robert Sorin Royal American Group Vice President Dan Moskowitz Western Reserve Property Management Treasurer Joy Anzalone Burton Carol Management, LLC Secretary Claudia Madden UGP Properties Presidential Appointee Charles Schulman Carlyle Management Company Associate Council Appointee David Neale Roto-Rooter Services, Co. Inc.
Winter Issue 2010 Table of Contents Message from the EVP
7
Calendar of Events
9
Welcome New Members
10
Educational Opportunities
12
Event Review: Lake County Holiday Party
14
Group Purchasing: CBCAmRent
15
Going Green with E-Star Appliances
17
Grounds Management Annual Review
18
Understanding Rent Deposit Escrow Cases
20
Event Review: Casino Night
22
Eviction Index
23
Event Review: Trade Show
24
Vacancy Rates
25
Cover Story: Burton Carol Management, LLC
26
Feature Story: Key Award’s Property of the Year
30
Property Transfers
32
By: Amy Stauffer By: Jon Gensel By: Jim Schill
By: Stephan Babik
By: Maren Guse By: Maren Guse
Association Staff Ralph McGreevy Executive Vice President Jacqui Bongiovanni Office Manager Maren Guse Project Manager of Media and Marketing
The President’s Circle The Apartment Guide Apartments.com Belfor USA Cararra Companies CORT For Rent Media Solutions HH Gregg IGS Energy Javitch, Block & Rathbone The Plain Dealer Powers Friedman Linn, PLL Schill Landscaping & Lawn Care Services, Inc. The Sherwin Williams Co. Time Warner Cable
The Northeast Ohio Apartment Association is a non-profit organization committed to furthering professionalism in the multi-family house industry. NOAA serves sixteen Ohio counties through specially designed education, networking and legislative programs.
NOAA Online
Contact NOAA
Website: noaamembers.com Facebook Group: Northeast Ohio Apartment Association Twitter: twitter.com/noaamembers Blog: wordpress.noaamembers.com
Western Reserve Building 1468 West 9th Street • Suite 110 Cleveland, OH 44113 Phone: 216.241.1635 Toll-Free: 800.506.2256 Fax: 216.241.1636
Printing: The Plain Dealer Advertising: 216-241-1635 Production & Design: Maren Guse
Suites Magazine • 5
Message from the EVP Ralph McGreevy • Executive Vice President • Northeast Ohio Apartment Association
Dear NOAA Members, A year ago the economy was down. We all hoped 2009 would be a rebound year - the type we’ve all seen before in this cyclical economy. For various reasons, the recovery hasn’t kicked in yet, and once again we hope this is the year. I am a lifelong student of marketing. Many of you know I owned an ad agency and, before that, managed and promoted large public and private events. I was often the guy saying, “Now is the time to advertise! You can gain market share in a contracting or stagnant economy!” Clients who believed this was a self-serving statement (just me, trying to gain in a down economy) struggled like everyone else. Those who actually checked into it found it to be true. They maintained or increased their marketing and advertising budget despite the tough times and did make gains - some significant. I’d like to believe I was ahead of my time, because now everyone knows that extra advertising pays off in hard times, right? A simple google search yields the proof. MarketPRO MBA said it best in their article, Gaining Market Share in a Down Economy. They wrote: The truth is the businesses that are thriving in a downturned economy do know a secret. The secret is simple. Don’t cut your marketing budget. During downturns, some of your competitors could go out of business. Who is going to pick up their market share? If the economy is affecting your business, then isn’t it most likely affecting consumers as well? Current, new and your competitor’s customers could be price shopping or looking for alternatives to your product or service. How are you attracting these switching customers? It is easy to see why cutting your marketing budget or standing still could hurt your business. You could be limiting your opportunity to gain new market shares. In our industry we can take it a step further. NOAA is comprised of professional management companies who will survive a down economy but our customer base includes many families who have experienced (or at least heard of someone) being evicted from a home or apartment building due to a foreclosure, by the buildings owner despite the rent being paid. There are now laws being written to protect these residents. Imagine the insecurity that results from a situation like this. Are these folks going to move into another double? More likely, they’ll be seeking the security that comes with a larger, professionally managed apartment communities. And what says strength more than advertising your community and your brand in a way that will touch potential residents multiple times. The same applies to Associate Members vying for business from NOAA’s Primary Members. Will you be top of mind when your competitor drops off the map for one reason or another? Will your potential customers go to the Yellow Pages and start with the “A’s”, or will they remember that ad they saw in Suites Magazine, pick up the NOAA Directory, or the person they met at the NOAA trade show who supplied what they needed? I’m going to say it again, just for old time’s sake. If you want to grow, advertise big, and advertise now. If not with us, somehere. Make sure you’re found when they are looking. Speaking of advertising, we decided to invest in our Key Award winners this year by producing a television program of the awards. It is designed for consumers to learn about the region’s hottest properties. It will promote the association as well, adding new meaning to that NOAA sticker on your front door. Look for the program on Time Warner and Cox Local On-demand starting soon. It is tentatively scheduled to be under Local - News & Information. I believe we are all going to have a better 2010, and a year from now, hopefully we will all be recounting our success! Let’s make it happen!
Ralph McGreevy
NOAA Executive Vice President Suites Magazine • 7
Calendar of Events March 3/2 3/9 3/10 3/12 3/24
Bed Bug Seminar Mountaineer Casino Trip Education Committee Meeting Associates Council Meeting Leasing Kick-Off
12:00pm Lunch, 1:00pm Seminar, Windows on the River 9:00am departure from Sam’s Club, Oakwood Village 9:30am at NOAA, 1468 West 9th Street 9:00am at CORT, 5565 Venture Drive, Parma 9:00am at Windows on the River
Associates Council Meeting Indian’s Home Opener Certified Leasing Professionals Education Committee Meeting
9:00am at CORT, 5565 Venture Drive, Parma 3:05pm at Progressive Field 9:00am at NOAA, 1468 West 9th Street 9:30am at NOAA, 1468 West 9th Street
Fair Housing Associates Council Meeting Education Committee Meeting
9:00am Location TBA 9:00am at CORT, 5565 Venture Drive, Parma 9:30am at NOAA, 1468 West 9th Street
April 4/9 4/12 4/13, 14 4/21 May 5/12 5/14 5/19
Welcome New Primary Members Shaker Shamrock Properties Ernest Robinson P.O. Box 39692 Solon, OH 44139 (216) 337-1918
Property Listing: Shaker Shamrock 3720 Warrensville Center Rd. Shaker Heights, OH 44122 (216) 337-1918
R & R Properties Regina Skully
37975 Valley Brook Drive Willoughby Hills, OH 44094 (216) 956-8121
Property Listing: The Williams Road 6631 Williams Rd. Concord Township, OH 44077 (216) 956-8121
Suites Magazine • 9
Welcome New Associate Members! 123 Wellness, Inc. Dallas Hardcastle 7294 Lavender Lane Lewis Center, OH 43035 Phone: (614) 313-3339 www.123wellnessinc.com
Products and Services: Exercise Equipment
Ake Environmental & Construction Services Jennifer Ake-Marriott 503 Broadway Ave Bedford, OH 44146 Phone: 440-232-0042 Fax: 440-232-0155 Email: jmarriott@akelab.com www. akelab.com Since 1970, Ake Environmental and Construction Services, Inc. has been a leader in the environmental service industry in northern Ohio. Ake’s family owned business provides complete service for pump and lift stations, water and wastewater plants, catch basin cleaning and repair, sewer/drain cleaning, smoke and dye testing, tank trucking and sampling, permit renewal and EPA reporting. Bellwether Real Estate Capital Harry P. Giallourakis IMG Center Suite 300 1360 East 9th Street Cleveland, OH 44114 Phone: (216) 820-4505 www.bellwethercap.com
Products and Services: Mortgages Loans Erickson Landscaping & Construction Wayne Erickson P.O. Box 210 Russell, OH 44072 Phone: (440) 338-8838 Email: erickson-w@sbcglobal.net Erickson Landscaping & Construction Co. specializes in full year-round Landscape Maintenance, Spring & Fall Cleanup, Landscape Construction and/or Concrete Work to include (but not limited to) walkways, entrances, seating, lighting, water features, installation and repair of retaining walls. We also offer the following services: Tree Trimming and Removal, Trimming Shrubs, Irrigation, Plantings, Mulch Installation, Weeding and Fertilization Applications, Snow Plowing & Salting.
The 7up Snapple Group Kelly Palmer 14301 Industrial Ave. N. Maple Heights, OH 44137 Phone: (216) 475-4477 Fax: (216) 475-1631 Email: kelly.palmer@dpsg.com www.dpsg.com The 7up Snapple Group is the industry leader in flavored beverages including, 7up, A&W, Sunkist, Snapple, and RC Cola among others. We are focused on providing the best quality beverages with the best service to our customers and consumers. We provide in store sales as well as on premise vending. Armor Manufacturing and Distribution Ross Appeldorn 3034 Westerville Rd Columbus OH 43224 Phone: (614) 509-2036 Fax: (614) 750-0136 Email: rossa@armordist.com Armor Manufacturing & Distribution offers a factory-direct purchasing program for Roofing, Siding and Window projects for multi-family & condominium property management companies allowing them to purchase products direct from the manufacturer at a substantial discount over purchasing from suppliers. Their products come with full system warranties and options for factory installation.
Continental Laundry Systems Michael Mott 57 Economy Grade Rd. Coraoplis, PA 15108 Phone: (724) 457-3401 Email: mmott@continentallaundry.com A well-designed, well-maintained laundry space can be a deciding factor for potential residents and a source of profit for property owners and managers. Continental helps increase your revenue, save on utility bills and make sure your residents are happy by providing Energy Star Equipment and Smart Card Systems in your laundry space. We’ve been providing services for our clients since 1988. Energy savings, high-tech capabilities, easy user payments, a quick response to service solutions and an impeccable customer care program is the Continental promise.
The Farrow Group Jerry Colosimo 3788 Lee Rd. Cleveland, OH 44128 Phone: (877) 347-3390 (on call 24/7) Fax: (216) 561-1350 Email: jcolosimo@farrowgroup.com www.farrowgroup.com The Farrow Group, was established in 1945 as a retail dry cleaner. In 1970 The Farrow Group became full service providing structure, contents, dry cleaning and electronics restoration. 24 hour emergency service is provided by IICRC Certified technicians.
A Bio Healthy Home Solutions Tim Manoa and Larry Pelanda 1285 Boardman Canfield Rd. Boardman, Ohio 44512 Phone: Tim (440) 223-2918 Phone: Larry (330) 519-7306 Email: ABioHHS@gmail.com www.ABioHHS.com A Bio Healthy Home Solutions specializes in odor removal and disinfecting suites and common areas. Their product kills bacteria, viruses, mold, and odors. Get rid of food, pet, and smoking odors. Remove odors without replacing furniture or carpets. Bath Fitter Steve Skeens 542 Industrial Drive Lewisberry, PA 17339 Phone: (800) 594-8776 www.bathfitter.com
Products and Services: Bath and Shower Remodeling Tub-To-Shower Conversions Design Your Own
Dun-Rite Construction, Inc. Anthony Umina 6395 Chittenden Rd. Hudson OH 44236 Phone: (330) 650-5322 Fax: (330) 655-0717 Email: dia@dun-riteconstruction.com www.dun-riteconstruction.com Products and Services: Roofing Windows Siding Gutters Commercial Snow Removal
Grandbridge Real Estate Capital, LLC 150 East Broad Street Suite 406 Columbus, OH 43215 www.gbrecap.com
Products and Services: Mortgage Banking Real Estate Loans Asset and Portfolio Management
Welcome New Associate Members!
L. Calvin Jones Dina Hodnicky 3744 Starr Centre Dr. P.O. Box 159 Canfield, OH 44406 Phone: (330) 533-1195 x 226 Fax: (330) 533-7583 Email: dhodnick@lcalvinjones.com www.lcalvinjones.com Products and Services: Commercial Insurance Personal Insurance Life Insurance Health Insurance Refrigeration Sales Corporation Peter Eno 9450 Allen Drive Valley View, OH 44125 Phone: (330)607-8006 Fax: (216)525-8182 Email: enop@refrigerationsales.net www.RSC2go.com Products and Services: Wholesale Heating Air Conditioning Refrigeration Maintenance Courses - see page 11
Sears Carpet & Air Duct Cleaning Greg Heibert 11683 Royalton Rd. Unit B North Royalton, OH 44133 Phone: (800) 925-1664 ext. 103 Email: gheibertjr@hotmail.com www.searsclean.com www.searsgaragedoors.com Sears in home services include carpet cleaning, tile and grout cleaning, upholstery cleaning, air duct cleaning, dryer vent cleaning, garage doors and garage door openers-new and repairs. All services are available for residentital and commercial spaces. Sears offers special NOAA member prices. Open Monday through Saturday.
Trumbull Industries Samuel M. Miller P.O. Box 30 Warren, OH 44482 Phone: (330) 393-6624 www.trumbull.com
Products and Services: Heating & Cooling Janitorial Supplies Bathroom Accessories Cabinets & CounterTops Residential Water Systems Plumbing
LexisNexis Resident Screening Amanda Howard 22211 Michigan Ave. #515 Dearborn, MI 48124 Phone: (313) 429-3021 Fax: (877) 243-1787 Email: amanda.howard@lexisnexis.com www.residentdata.com LexisNexis Resident Screening helps you quickly assess tenant risk using the most advanced technology and comprehensive data in the industry.
Rose Pest Solutions Michael A. Smith 3499 State Road, Suite B Cuyahoga Falls, OH 44223 Phone: (800) 263-4611 Email: msmith@rosepestsolutions.com www.RosePestSolutions.com Rose Pest Solutions provides comprehensive pest management solutions for commercial and residential clients. We specialize in bed bug eradication as well as eradication and control for all other pests and wildlife. Education and training classes are available to help maximize the ability to manage and prevent pest infestations. Rose is the oldest pest management company in the nation and will celebrate their 150th anniversary in 2010.
Somers Agency, Inc William Somers 42815 North Ridge Rd. Elyria OH 44035 Phone: (800) 722-9804 Email: wsomers@somersagency.com www.somersagency.com Somers Agency, Inc. was established in 1898 and remains a family owned & operated business. William O. Somers, President (3rd generation owner) and Chris Fichtner,Vice-President (4th generation owner) are actively involved in sales and risk management. We pride ourselves on our excellent reputation, highly trained staff, and over 110 years of experience.
Welker Mckee Ron Buffa 6606 Granger Rd. Cleveland Ohio 44131 Phone: (216) 447-0050 Email: ron.buffa@hajoca.com www.welkermckee.com Welker Mckee is a plumbing and heating wholesaler celebrating our 101st year in business. We specialize in rough and finish plumbing products as well as Weil McClain boilers and hot water heating products. Our hours are 7:30-4:30pm Mon-Fri. and 8am-noon on Saturdays.
Ohio Biohazardous Recovery Lee Surgener 5379 Sabrina Ln N.W Warren, OH 44483 Phone: (866) 349-4024 (on call 24/7) Fax: (330) 678-8523 Email: service@ohiobiohaz.com www.ohiobiohaz.com Ohio Bio was founded in 2005, headquartered in Warren, Ohio and is now bringing an office to Cuyahoga County. Ohio Bio is a crime and trauma scene cleaning company. Specializing in blood cleanup, unattended death cleanup, odor removal, and mold remediation. Registered with the EPA and on call 24/7.
Royal “T” Remodeling Brian Jacob 11462 Drake Rd North Royalton, OH 44133 Phone: (440) 230-2021 Fax: (440) 230-2021 Email: djacobrtr@wowway.com www.royaltremoldeling.com Royal “T” Remodeling is a full service remodeling company specializing in countertops and cabinetry, including new projects as well as re-facing existing cabinets. Please visit our website for more information or contact us at (440) 230-2021.
Standard Parking Robert Kohler 1301 East Ninth Street, Suite 1050 Cleveland, OH 44114 Phone: (216) 687-0141 Fax: (216) 363-6941 Email: bkohler@standardparking.com www.standardparking.com Property owners who want their parking facilities to showcase high-quality operations turn to us for their parking management services. Who are our clients? They are the managers and owners of premier properties across the country. We specialize in providing services to a wide variety of markets. Weltman Weinberg & Reis Co. L.P.A. James M. Doran 323 W. Lakeside Ave Suite 200 Cleveland, OH 44113 Phone: (216) 685-4289 Email: jdoran@weltman.com www.weltman.com WWR offers full service representation in the areas of commercial and residential Landlord/ Tenant relations. WWR represents the needs of owners, managers and landlords across Ohio. With over 75 years of experience, WWR’s practice areas include bankruptcy, collection services, corporate & financial services, legal action recovery, litigation & defense, probate, real estate default and subrogation throughout the United States and internationally.
Educational Opportunities Maintenance & Technology Skills Courses Taugh t by certifie NATE or A R d instr uctors I
RSC offers an 18-week, one-night-a-week, course designed for HVAC technicians to improve either residential air conditioning or commercial rooftop/ split systems skills. The course concludes with a test for certification.
e yourls and v o r p Im ce skil nan bottom line e t n i a m e your s a e r c in
NOAA Member discount: $1,725 Non-member cost: $1,925
Monthly Skills Classes Option
This RSC program offers a different topic each week for those technicians who
Learn th techno e latest logy
are more experienced. Pick and choose which classes interest you. NOAA Member discount: $79 per session Non-member cost: $99 per session
NOAA Primary Members will be recieving more information in the mail.
For more information, visit www.rsc2go.com. Brochures are available on NOAA’s website: www.noaamembers.com/edu
NOAA Presents:
Certified Leasing Professionals April 13th and 14th, 2010
Class Schedule 2010 Call 216.241.1635 for early registration Tuition: $279 for members $379 for nonmembers
Tuesday April 13 CLP Class 9:00am - 3:00pm Room 110
Wednesday April 14 CLP Class & Exam 9:00am - 3:00pm Room 110
Exam Schedule Wednesday April 14 Class 9am-12pm Exam 12pm-3pm
All classes located at NOAA University, Western Reserve Building 1468 West 9th Street • Suite 110 • Downtown Cleveland
Educational Opportunities
Educational Seminar:
Bed Bugs March 2nd, 2010
Lunch: 12:00-1:00pm Seminar: 1:00-3:00pm
Seminar Only: $29 Seminar & Lunch: $44 Windows on the River 2000 Sycamore Street • Cleveland, OH 44113
Bed Bug RSVP Attendees for Seminar & Lunch: Attendees for Seminar Only: Name: Company: Address: City: Phone: Names of attendees:
x 44 = $ x $ 29 = $
Zip: Fax:
RSVP to Jacqui at 216.241.1635 or fax the following to 216.241.1636 or via noaamembers.com/event.html Total = $ Payment Method: Check/Visa/MasterCard/AmEx Card Number: Exp. Date: Signature:
Suites Magazine • 13
Lake County Holiday Party
Holiday Photo Album
olidays!
Happy H
Terrie Haycox, Randie Turner, Christina Dubeansky & Greg Tomsich
Clyde & Christina Dubeansky Jacqui Bongiovanni & Greg Tomsich
Richard Tibbits & Valentina Daniolchenko
Tom Todd
Randie Turner & Terrie Haycox Thank you sponsors!
Laura Gorshe & Tom Lang
CORT Conway Land Title Marcus & Millichap Kay Home Improvements Zito Insurance Photos by: Maren Guse
Group Purchasing: CBCAmRent
© istockphotography.com/flyfloor
NOAA and CBCAmRent have teamed up to bring better resident screening to your community… because better data means better business!
NOAA and CBCAmRent have teamed up to
bring better resident screening to your community… because better data mean better business! As an affiliate of CBCInnovis, CBCAmRent offers more than 25 years of resident screening and database management experience and provides customized screening solutions with a focus on data quality.
Accurate screening information is a key ingredient to rental profitability. CBCAmRent combines technology and personal service to provide the most accurate applicant processing information available. CBCAmRent knows that a personal touch is the key to generating long term business relationships, so Amy Stauffer has recently been appointed as the dedicated representative for the greater Cleveland area.
CBCAmRent’s commitment to the apartment industry is demonstrated in its involvement and membership in more local apartment associations than any other resident screening company.
Amy comes to CBCAmRent with many years of customer service experience and enjoys helping businesses on all levels of issues.
Rely on CBCAmRent to equip you with the most accurate and complete screening support information available, because... Better Data Means Better Business!
Amy will be happy to visit your community or management company and offer a complimentary portfolio analysis to evaluate the health of your communities.
We help property owners and managers throughout the United States including the northeast Ohio area improve their bottom line by quickly converting qualified applicants to residents while reducing skips and evictions. CBCAmRent equips you with most accurate and complete information, including: • Instant Multi-state Criminal and Sex Offender Registry Records (including county level data in the Northeast Ohio area) • Instant National Eviction Records (including filings, dismissals, judgments and satisfied cases)
We look forward to earning your business in 2010 and working through our partnership with NOAA. For more information regarding our products and services or to schedule a personal meeting, please contact: Amy Stauffer Amy.stauffer@amrent.com 216-262-1690 www.amrent.com
• Instant Identity Validation and Fraud Detection Solutions • Instant In File Credit Reports • Instant Decision and Scoring Tools
Suites Magazine • 15
From selection to installation, we’ll make being a landlord easier. hhgregg’s Commercial Division, ready to serve you. Property management pricing and a variety of appliance brands to fit your needs. Join the thousands of multi-family and apartment owners throughout the Midwest and Southeast who look to hhgregg as their supplier for major appliances. • Competitive pricing • 2 day delivery • Emergency weekend delivery • Employee purchase program • 1 call service solution • National call center Contact Stu Kaine | 216-276-0436 Visit our website at hhgregg.com/commercial division for other store locations.
Property Management Companies | Multi-family
Going Green With E-Star Appliances More than one Green to consider when purchasing appliances! “E-Star” is what today’s generation is looking for when they are shopping. It is the most recognized label used today. By converting current appliances to a more modern and energy efficient standard, the E-Star rated appliance, consumers can save a significant amount of money on gas, water, and electric bills while also helping the environment.
B
uying appliances has changed in recent years. Customers are used to looking for the same name brands that our families, friends, and businesses have been using for decades, such as Frigidaire, G.E., Westinghouse and many others.
The term “Going Green” now applies to our appliances, computers, and even flat panel televisions. A combination of E-star rated products will save an average household up to 30% a year in utility bills compared to non E-star products. That is great for a household, but what about the savings for apartment owners and multi-family home owners? Along
$
with saving on large energy bills, E-Star appliances can be used as a great marketing tool by offering the savings to their tenants while also increasing profit margin. These E-Star rated appliances offer several advantages to consumers and provide us with the added benefit of an ecologically responsible business stance. Using less energy and fewer natural resources greatly reduce harmful pollutants put into the air and water every day. The next time you make your appliance purchase ask yourself, which means more to you the price you are paying for your appliances or what you are saving with them? By Jon Gensel Commercial Representative hhgregg
Suites Magazine • 17
Getting Grounded in Grounds Management Annual Review: Evaluating Needs and Performance equipment may upgrade the capabilities of different providers, or a change in crew could effect performance. Your property may have undergone changes that demand a different approach to maintenance.
Complacency has no place in
maintaining an appealing property. What worked for you three years ago may not be the best solution for you now; and without a regular review of your specifications, processes … and your grounds management partner, you won’t know if you’re getting the best results for your budget. It’s wise to conduct an annual review of your grounds management needs. As winter quickly approaches, now is the best time to schedule that effort. Unbeknownst to most, the grounds management industry is a very dynamic institution, and frequent changes constantly reshape the playing field — there is far more to the process than simply getting your lawn mowed each week. If you have selected a good, proactive vendor to provide these services, they should be the one to initiate this discussion with you. If not, you may want to consider a complete review and selection process to begin the next Spring season with a fresh perspective. An effective management plan involves numerous variables, many of which can change from year to year. Advances in technology and
18 • February 2009
Budget is always an overriding issue, and payment arrangements, contract extension discounts or bundling options may offer you more services for the same or perhaps even a lesser investment. Again, a good grounds management partner should approach you to discuss these items each season; otherwise, be sure you are the one to drive this process with any new partner. If you have a good relationship with your current provider, the annual review will likely be a thorough review of your needs, discussed over a comfortable lunch together. Issues that you should be sure to address each year involve concerns you may have noticed with quality, stability of staff and crew, planned changes to your property and budget or billing arrangements. A great grounds management firm will always have your property’s best reflection at heart, and will likely raise items with you that you may not have even considered in an effort to continue to raise the standard and quality of performance. Choosing a new grounds management partner requires proper due diligence to be sure you make a selection with lasting potential — changing partners
every year will never deliver the best results for your needs. Start by qualifying their capabilities: size of crew and support staff, account management structure, equipment, technology, and experience. This initial objective review will help quickly identify those firms which are even able to deliver the needs you have. However, it’s the more subjective qualities that have the biggest impact on results. Ask for and follow up on references … visit those properties and satisfy yourself that their appearance meets the standards you expect for your own grounds. Walk your property, several times, with any prospective partner. Ask them for their opinion and recommendations — be sure they don’t offer all praise; chances are your property isn’t perfect and if they fail to give you an honest evaluation, they probably won’t be willing to actively manage your needs throughout the year either. Finally, it’s your responsibility to draft a clear, concise and thorough specification document. Know exactly how big your property is, what services you are asking for and the frequency with which tasks will be performed. Obviously, you can create this outline by gathering input from each prospective firm, but unless
Getting Grounded in Grounds Management you are able to precisely compare each company bidding, choosing the best partner for your budget is not possible. Deliver your specification document to each bidding firm and request that additional recommendations beyond the scope you defined be bid as separate line items. When you do make your final decision, make sure one final time that the expectations of both parties reconcile. It serves nobody well to have a relationship fall apart over poor
communication. Remember, you will never find a grounds management firm that wants to lose money caring for your property ‌ they need to make a profit too. As with any business process and decision, being thorough and deliberate is crucial in selecting and directing a grounds management partner. If you have been clear and honest up front, and they have also been open with you in return, you will be able to build a long-term relationship with your provider. Having
a partner that knows your property, understands your expectations, and constantly looks to find ways to improve your image, is the ultimate goal in creating and maintaining enviable properties.
By: Jim Schill Schill Landscaping & Lawn Care Services, Inc.
Suites Magazine • 19
Understanding Tenant Rent Deposit Escrow Cases in Ohio
O
hio Revised Code §5321.07 is a section of the Landlord-Tenant Act that provides tenants in Ohio with the remedy of depositing their rent with the court. This is referred to as rent deposit/escrow. After initiating a rent deposit action with the court, a tenant must thereafter pay their full rent, on-time, to the court. A landlord may then seek its release.
Requirements for a Tenant to Deposit Rent The statute provides that a tenant must meet the following requirements to begin a rent escrow action with the court: • Be current with rent. • Not have caused the condition of which they complain. • Be a tenant of a landlord who has more than three apartment units or be a tenant of a landlord with three or fewer apartment units, who has not provided notice in writing of this fact to the tenant. If a landlord has three or fewer apartment units, the landlord should always include this fact in their rental agreements. • Provide their landlord with a written notice that sets forth the basis for their rent deposit at the place where rent is normally paid that sets forth the basis for their rent deposit. • Provide their landlord with a reasonable time or 30 days, whichever is shorter, to remedy the conditions described in their notice. (The reasonableness of the period of time will be determined by the severity of the conditions)
20 • February 2009
If a tenant has not met each of these requirements, then they are not a proper tenant to begin depositing their rent with the court. However, even where a tenant has failed to meet one of the above requirements, a court will allow the tenant to deposit their rent. The court will then require the landlord to present evidence at a hearing to prove the rent deposit action was not proper. Hearings must be held within 60 days of application by landlord, absent good cause.
Grounds for Depositing Rent The Code requires that one of the following conditions exist to sustain a proper rent deposit case: • Violations of building, housing, health and safety codes that affect health and safety. • Failure to maintain common areas, elevators, electrical, plumbing, heating, ventilating fixtures and appliances in a good, safe and sanitary order. • Failure to provide receptacles for removal of ash, garbage, rubbish, when a landlord owns four or more units in the same structure. • Failure to provide access to running and hot water. • Failure to allow a tenant access to the apartment or a landlord’s entering the apartment without proper notice. • A governmental agency finding that the premises are not in compliance with building, housing, health or safety codes. • Breach of a duty imposed on the landlord by the lease.
If a tenant has provided notice and/or commenced a rent deposit action based on grounds other than these, their rent escrow is likely not a proper action. If a tenant acts in bad faith in instituting a rent escrow, the tenant may be liable for damages caused to the landlord. The tenant may also be liable for the landlord’s reasonable attorney’s fees if the tenant intentionally acted in bad faith.
Understanding Tenant Rent Depostit Application for Release of Rent
Obtaining Release of the Rent
After learning of a rent deposit action, the landlord must apply for its release. This application may be made at any point after the rent deposit has begun. The Application may include:
The landlord can obtain release of the rent on deposit in any of the following ways: • Correct the issues and resolve the matter with the tenant. Have the tenant sign a release to be filed with the court. • Demonstrating to the court that the requirements for depositing rent (above) were not met by the tenant. • Demonstrating to the court that the landlord has no duty, under the grounds for a rent deposit (above). • Proving to the court that any conditions contained in the tenant’s notice have been rectified.
• A statement that the tenant has failed to meet one or more of the above requirements. • A statement that any complained of conditions do not meet the requirements of the code as proper grounds to institute a rent deposit. • A statement that any conditions that form the basis of the action have been repaired (if the conditions have been repaired). As stated, the rent release hearing will be held within 60 days after the landlord makes application for its release. To comply with the code, it is the landlord’s duty to apply for release.
After the landlord has successfully received an order from the court to release the rent on deposit, the clerk of courts will generally mail a check to the landlord. Any interest that accrues on the deposited rent will be retained by the court and the clerk of courts may charge a fee of 1% on the amount deposited. By Stephan P. Babik, esq. JAVITCH, BLOCK & RATHBONE LLP
Suites Magazine • 21
Casino Night
Thank
You!
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Save the date: October 13th, 2010 Photos by: Maren Guse
Eviction Index June
Filings
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
1,900 1,800 1,700 1,600 1,500 1,400 1,300 1,200
Filings by Month
About the Eviction Index
Court
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Bedford
160
183
141
147
125
108
151
106
Cleveland
1105
1102
916
918
884
991
814
918
Euclid
113
138
113
87
93
86
112
92
Lakewood
123
110
95
98
77
56
75
59
Parma
151
123
107
109
97
114
119
88
Painesville
42
46
37
52
33
43
32
37
1,309
1,389
1,303
1,300
Total
1,717 1,702
1,427 1,411
The Suites Magazine Eviction Index is presented to owners and managers of multifamily properties to assist them in assessing the regional market. The numbers represent the number of eviction filings in the corresponding courts. The Eviction Index is sponsored by Powers Friedman Linn, PLL, a law firm specializing in real estate management issues.
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Suites Magazine • 23
NOAA’s Tubular Trade Show
The Blue Book of Building and Construction ServiceMaster by AmeriaSteam
The Apartment Guide
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TransUnion Credit Retriever
Carrara Companies
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Save the date: November 4th, 2010
Vacancy Rates
Vacancy Rates by Region
Area
Sept.
Oct.
Nov.
Dec.
Jan.
Entire Region
8.30%
8.50%
7.90%
8.40%
8.60%
Northeast
9.60%
10.02%
9.80%
9.70%
10.10%
Southeast
11.00%
11.00%
8.90%
10.60%
11.90%
South/Southeast
8.80%
8.20%
9.70%
10.70%
10.20%
Northwest
5.10%
5.80%
7.70%
6.20%
6.00%
Southwest
6.70%
7.00%
5.00%
8.40%
5.80%
Entire Region in January 2009 = 7.90%
Percent
Sept.
Oct.
Nov.
Dec.
Jan.
10%
Monthy Vacancy Averages
9% 8% 7% 6% 5%
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Pictured from left to right: John Petryshin, Rob Risman, and Joy Anzalone. Photos by: Maren Guse
“Burton Carol Management’s possibilities are limitless.”
As you walk into the Burton Carol
Management headquarters, you are immersed in the culture of accomplishment that continued forward from what once was Consolidated Management, Inc. and is now Burton Carol Management, LLC. Joy Anzalone, Chief Operating Officer of Burton Carol Management, LLC believes that anyone who ever meets Bill Risman, founder of Consolidated Management Inc. (CMI), will forever remember his vivid blue eyes, incredible leadership and astounding success; traits also found in his
26 • February 2009
son, Rob G. Risman (minus the blue eyes), who is President and CEO of Burton Carol Management. “Rob and I have worked together for well over twenty years and together we have moved mountains,” Joy proudly states. “Everything we have created at Burton Carol Management honors the traditions and excellence of CMI that we wanted to carry forward. It is a dream come true.”
The eminent duo’s most recent accomplishment was the successful reconfiguration of the apartment management end of Consolidated Management Inc. into Burton Carol Management—a feat that was not easily accomplished. “When you have a 50 year old family business owned by two brothers, Bill and Bob Risman, and each side of the family has different long term future goals, it is not easy to break that apart”. However Rob and Joy did so as a win/win for both sides of the family. Each side was able to achieve there long term objectives and formed new companies rising out of the success of Consolidated Management, Inc. – and for Rob and Joy, it was to create a management company comprised of excellent multi-family properties with a core group of outstanding associates that are like family. The Burton Carol name integrates the middle names of Rob Risman’s parents, William Burton Risman and Marion Carol Risman and represents the best of Consolidated Management Inc. Commencing operations January 1, 2010, Burton Carol Management, LLC is the apartment management successor to CMI, building on its solid foundations and flourishing presence in the multi-family management business. Seeking opportunities to grow, Burton Carol Management is
Burton Carol Management, LLC The Successor to Consolidated Management, Inc. actively looking to do so by acquiring new properties and expanding into new markets. Additionally they have launched a third party management division that will tap into the wealth of experience that already exists within their group. It is an area of expertise that will flourish and grow as they do. “We will be a natural at this,” says Joy, “as we only know how to do things one way. We will manage for others no different than we manage for ourselves, as it is our reputation that is on the line. We give everything we do 120%, and though we have been asked for years to manage for others, we were not willing to do so, until we could give it our undivided attention. The time is now.”
“The tough times have allowed us to become even better. Our properties are successful — and that never happens by accident.” Burton Carol Management has relocated to its new headquarters, located in the Chagrin Highlands corridor of Warrensville Heights. They bought the building in May of 2009 in anticipation of the move. Completed in 2008, this state of the art building is conducive to a happy and productive work environment. The company owns and manages approximately 25 properties containing over 4,500 suites, located in the Cleveland area as well as the Tampa Bay region and Metropolitan Detroit. The Burton Carol Management staff is comprised of almost all of the previous CMI associates. In addition to retaining the best people and the best philosophies of CMI, Burton Carol Management also kept the best group of properties that Joy refers to as “the dream team.” She means that on many levels.
leads by example and it shows in all that they do,” Joy exclaimed. Additionally Marcia Hayward,VP and Director of Property Operations in Florida and Joseph Kincaid,VP and Director of Property Operations in Michigan were key CMI associates who each had well over 20 years of excellence with CMI and bring that same excellence to Burton Carol Management. All three Divisional Vice Presidents started in entry-level positions and worked their way up. It is a theme that rings true to many of the associates who are a part of this company. As Burton Carol Management ventures into new markets and seeks new opportunities, they will encourage prospective clients to look at their current operation as a “reference guide of what we can do,” says Joy. “Our greatest strengths are, without a doubt, our people; our experience; our results; and our work ethic. Our reputation is everything to us. We would rather pass on a property that we did not think we could improve upon then just take an assignment for the fees. We are in this for the long term,” explained Joy. In today’s economic climate, many multi-family management companies are remaining stagnant, clinging to their residents and hoping for a nationwide economic rebound. Burton Carol Management is different from the majority, viewing the current economy as a positive opportunity for growth, expansion and a way to create an even more loyal customer base. “We are always looking for ways to improve our operations. It is what is so exciting about this business and it keeps us on our toes,” said Joy. In order to remain successful for over fifty years, “you have to be good,” said Joy. “The tough times have allowed us to become even better. Our properties are successful—and that never happens by accident.”
“John Petryshin,VP and Director of Property Operations for Ohio, and I have assembled a management team that is second to none. Our associates on site are exceptional and their longevity and dedication is remarkable. Our company has won the coveted NOAA Key Award Property Manager of the Year for two years in a row as well as multiple platinum, gold and silver awards. I credit that to John, who is relentless on the details, along with our fabulous Regional Property Managers, who encourage our people to be the best they can be. Every one of them
Suites Magazine • 27
Joy is well qualified to guide the company. She is a past Northeast Ohio Apartment Association President and currently NOAA’s Executive Committee Treasurer. Joy views her position at NOAA as an opportunity to participate in the collective sharing of knowledge and an opportunity to give back to the industry. Over the years, Joy has won the NOAA Award for Manager of the Year (1991) and Board Member of the Year (1997). Joy believes that, “to be truly successful in this market, you must tap into the benefits of being a part of NOAA. Not being a member is a big mistake!” She is extremely proud of Ralph McGreevy and how far he has taken the association during his tenure. Joy helped spear head the search for a new Executive Vice President of NOAA in 1997 that brought Ralph McGreevy to NOAA and readily acknowledges that he has taken this association further than anyone could have dreamed. She calls Ralph “the rainmaker of all times. Ralph makes it happen.”
“NOAA is one of the strongest apartment associations in the country... none even closely compare.” In addition to NOAA, Joy has participated in the Detroit and Tampa Bay apartment associations and believes that NOAA is, “one of the strongest apartment associations in the country... none even closely compare,” said Joy. She is frequently asked to share her experience through educational and motivational speaking engagements both locally and nationally for local apartment associations, other companies as well as Multi-Housing World. She is also a frequent panelist in the hotel industry—a passion she never gave up. Additionally she was recently interviewed for a book highlighting interviews with the 50 best property management professionals in the nation. She laughs about that saying “they must have run short of qualified candidates.” With more than 20 years of experience in the multifamily housing industry, Joy is a prominent individual in the industry. Joy graduated from Kent State University in 1980 with high hopes of becoming a criminal reporter and, unbeknownst to her, landed the opportunity of a lifetime a housekeeping job with CMI.
28 • February 2009
Just after graduating from Kent, and weeks away from marrying her high school sweetheart, Joy’s mother passed away, leaving her devastated and heartbroken. With no energy or motivation to begin the job hunt, and with no money to pay the rent, Joy and her husband Tony moved into a CMI hotel in Willoughby, Ohio that Tony had just taken a job at. Out of desperation and convenience, Joy took a housekeeping job at the hotel and though she never set her sights on where that job would go she quickly began climbing the corporate ladder. With the support and encouragement of her husband and father, Joy believed that there were no mountains too high to climb. Her parents always raised her to believe in herself and to always strive to give everything her all . To this day Joy values her dads love and guidance and is devoted to him in every way. Joy also readily acknowledges that her mentor and role model in the business is Bill Risman, “who took me under his wing and taught me everything. I will be forever grateful for the opportunity that was given to me. Bill is everything I wanted to emulate in business and I had to work twice as hard just to keep up with him.” Within the first few years, Joy was promoted numerous times before her first management assignment at one of the CMI hotels in 1984. Joy received several promotions over the following years, including Vice President of CMI’s Hotel Division followed by Director of Properties of the Ohio Apartment Division in 1990, which is when she joined NOAA. Joy was promoted to Chief Operating Officer of Consolidated Management, Inc. in 1995 and remained there right through 2010 when she and Rob spearheaded the wind down of CMI. With that came the rebirth and creation of Burton Carol Management and as COO of the new and ambitious company, Joy believes that “Burton Carol Management’s possibilities are limitless.” The tag line of Burton Carol Management is Solid Foundations-Solid People and it rings true to exactly what this company is all about. With over 50 years of tradition behind Burton Carol Management, Joy echo’s loudly and often that, “There’s truly no stopping us now.” by Maren Guse
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• RLL Insurance provides residents with liability protection and peace of mind in the event that they accidentally cause a loss; they are covered up to the policy limit without the risk of losing their personal financial security. • Renters Legal LiabilityTM Insurance is a risk management solution that can positively increase net operating income. There is an ancillary revenue component plus a potential preferred status with the portfolio’s primary P & C carrier which could realize a 10% decrease on annual premiums.
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Key Awards Property of the Year 2009 What It Takes to be Property of the Year Properties are not required to be a luxury communities to enter the Key Awards, nor does is a luxury community guaranteed any bonus points. The three categories of awards, garden communities, multi-story communities, and townhouse communities are judged on the same criteria. Each category receives multiple Platinum, Gold, and Silver awards. The Property of the Year is the best of them all. NOAA Executive Vice President Ralph McGreevy said, “To win Property of the Year, an entrant’s judging sheet has to be flawless, with perfect ratings in each of the over 60 criteria, including a number of hard-earned bonus points.”
The NOAA Key Awards are the apartment industry equivalent to the Oscar’s and the Property of the Year is NOAA’s “Best Picture.” Last year nearly 120 properties entered in the Key Awards. This year the annual celebration banquet will be moving to the Ritz-Carlton from Windows on the River in keeping with the prestige of these awards and welcoming more guests. The property of the year represents a commitment to industry best practices, attention to details, and welltrained staff. The 2009 Property of the Year was awarded to Stone Ridge Apartment Homes, owned and managed by Richland Communities. Stone Ridge Apartment Homes, situated in quaint Berea, are nestled into a hillside complete with lavish landscaping and welcoming signage. First time visitors are impressed by the entrance and clubhouse where property manager Maloni Miller’s office is located. In addition to the traditional comforts and conveniences one expects from a luxury apartment community, such as private patios, vaulted ceilings and walk-in closets, “Our spectacular Community Center offers a unique array of first class amenities including a beautiful clubhouse, resortstyle heated pool, state-of-the-art 24 hour fitness center, business center complete with Internet access, fax and copier service and a gourmet coffee bar for our resident’s enjoyment,” explains Miller. 30 • February 2009
The judging criteria fall within categories including: exterior building conditions, signage, landscaping, model unit presentation, and overall community excellence. Legal requirements and fair housing practices are also part of the judging. For example, not having a fair housing statement posted assures a poor finish, as does inaccessibility for the physically challenged. “We believe that class and comfort go hand in hand. We go above and beyond to provide the finest blend creating a memorable experience and first-class lifestyle,” says Miller.
“It was truly an amazing experience. We were all honored to be recognized for our accomplishments.” No matter the age or size of your property, the following tips and suggestions from Richland Communities, a twotime Property of the Year award winner, can help you better prepare your community for the 2010 Key Awards. Congratulations to Richland Communities and Stone Ridge Apartment Homes for your display of multi-family housing excellence in the Northeast Ohio community. The next Key Awards judging day is June 22, 2010 followed by the Key Awards ceremony on September 2nd, 2010. For more information about the Key Awards and how to enter your properties, contact NOAA at 216-241-1635. by Maren Guse
Property of the Year 2009 Richland’s Stone Ridge What it takes to win Property of the Year Tips and Suggestions from Richland Communities • Present a well maintained community in every aspect • Show only clean, well-maintained, market-ready apartments • Utilize new and fresh marketing campaigns directed at your targeted audience • Promote excellence in customer service by continuously training employees
• Strive to exceed what is expected by going above and beyond on all aspects of property management • Continuously train employees to meet the needs of your grounds and structures • Secure a positive and professional team environment – It takes unity and supportive team members to come together as one to build strength, diversity and success
For information on Stone Ridge, please visit www.stoneridge.cc or call (440) 243-4663.
Property Transfers SITE ADDRESS
CITY
NEW OWNER
760 Chalker St 107 Kent St 107 Kent St 2244 14th St SW 2244 14th St SW 160 S Arlington 450 Zahn Dr 456 Zahn Dr 456 Zahn Dr 572 E Buchtel Ave 1766 Ford Ave 1886 Ford Ave 2141 17th St SW 435 West St 640 E Hopocan Ave 6010 Biddulph Rd 6022 Biddulph Rd 6022 Biddulph Rd 6020 Biddulph Rd 4315 Bridge Ave 1046 E 67th St 1046 E 67th St 1341 East Blvd 9904 Somerset Ave 15801 Saint Clair Ave 14620 Lake Shore Blvd 2164 E 76th St 2164 E 76th St 3556 E 116th St 3408 E 116th St 3711 E 55th St 12106 Imperial Ave #105 6726 Fleet Ave 12702 Gay Ave 1046 E 74th St 1046 E 74th St 800 E 95th St 10012 Lamont Ave 9313 Wright Ct 3121 E 65th St 2014 Seymour Ave 2014 Seymour Ave 3399 E 140th St 12420 Union Ave 3406 Clinton Ave 14122 Westropp Ave 582 E 117th St 3458 E 119th St 6315 Fullerton Ave 6315 Fullerton Ave 10805 Earle Ave 871 E 141st St 11915 Ashbury Ave 13601 Othello Ave 13815 Idarose Ave 1415 E 53rd St 15508 School Ave 15610 Pythias Ave 1835 E 79th St 1875 Willowhurst Rd 1434 W 112th St
Akron Akron Akron Akron Akron Akron Akron Akron Akron Akron Akron Akron Akron Amherst Barberton Brooklyn Brooklyn Brooklyn Brooklyn Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland
Stonecrest Income & Opportunity OPTIMUM REALTY CORP Greenpoint Mtg Funding Inc ABELL JARED Bulgrin Donald GREENPOINT MTG FUNDING INC Lupekha Aleksander V & Inna REALHOLDINGS LLC Lupekha Aleksander V & Inna REALHOLDINGS LLC Chapore Carlos OPTION ONE MTG LOAN TRUST 2007-3 Baer Theodore E GAFFNEY DEREK Baer Theodore E GAFFNEY DEREK Baer Theodore E GAFFNEY DEREK Nemer Manuel DONALD K POND LTD Cummings Michael & Cindy BURKS CHARLOTTE ANN Lim Charles & Betty US BANK NA 2006-S3 Lorenzo Investment Group LLC IB PROPERTY HOLDINGS LLC Mims Stephen P SECRETARY OF HOUSING & URBAN DEV. Kmh Group LLC JWJP ENTS LLC Appreciating Properties LLC RISPO RONALD A Appreciating Properties LLC RISPO RONALD A Appreciating Properties LLC RISPO RONALD A Appreciating Properties LLC RISPO RONALD A Ammari Anna R JP MORGAN CHASE BANK NA1 Baxendale Harry LONG BCH MTG LOAN TRUST 2006-3 Baxendale Harry LONG BCH MTG LOAN TRUST 2006-3 Famicos Foundation 1341 CORPORATION City Of Cleveland DAVIS RONALD Collinwood & Nottingham Villag EVERETT BRIAN K Vukovic Peter BRIAL PROPERTIES Fisher Brent HOME INVEST OF NV LLC Fisher Brent HOME INVEST OF NV LLC Bradberry Shawn PLYMOUTY PARK TAX SERVICES LLC Scott Michelle SMITH RASHAWN Wynn-Mitchell Quincey HOLLIDAY JOANN G8 Capital Fund V LLC US BANK NA TRUST 2006-BNC3 Nj Finders Keepers LLC FIRST PLACE BK McClain Shanese M/M PROPERTIES R/E TRUST Citimortgage Inc BOWDEN STANLEY E/MELVA J C Citimortgage Inc BOWDEN STANLEY E/MELVA J C Mumin Sulieman GLENVILLE DEV CORP Sta Realty Inc GLOVER ERICA Goolsby Daniel BORRIS JULIUS P Hollins Anita FEDERAL NATIONAL MORTGAGE ASSN Alvi International LLC MCNUTT INC Alvi International LLC MCNUTT INC Us Real Estate Management LLC ENS REO GROUP LLC Car Link Autos LLC DECO CONSTRUCTION LLC Huntington Natl Bk GRIFFIN RICK W/ERNESTINE;+ Suntrust Mtg Inc HANCHETT CECIL R Hamideh Amjad FEDERAL NATL MTG ASSN FNMA Stonecrest Income & Opportunity OWL REAL ESTATE INC Haney Randal R FEDERAL NATL MTG ASSN FNMA Haney Randal R FEDERAL NATL MTG ASSN FNMA Plymouth Park Tax Services LLC WALD INC;+ Ib Property Holdings LLC LOUNDMON QUEEN Adams Cole PINNACLE FINANCIAL SVCS LLC Fifth Third Mtg Co TILLMAN JENIECE Hsbc Bank USA Hmac STEWART DIONNA A Null Jeffrey A WASHINGTON MUTUAL 2006-HE2 Federal Natl Mtg Assn Fnma ROBINSON JASON Your Better Years LLC NJ FINDERS KEEPERS LLC Garrett Terry NEZ AHARA B Stonecresy Income & Opportunity 1983 FINANCE CO LLC Minervini Patricia A DEUTSCHE BK SERIES SPMD 2000-C
32 • February 2009
PREVIOUS OWNER
DATE PRICE 12/21/09 $6,800.00 10/19/09 $94,000.00 12/2/09 $15,000.00 12/3/09 $15,400.00 12/3/09 $15,400.00 9/30/09 $13,000.00 10/7/09 $290,877.00 10/7/09 $290,877.00 10/7/09 $290,877.00 9/2/09 $18,500.00 11/4/09 $100,000.00 11/17/09 $29,900.00 12/1/09 $27,000.00 8/20/09 $72,000.00 11/12/09 $172,450.00 12/17/09 $677,300.00 12/17/09 $677,300.00 12/17/09 $677,300.00 12/17/09 $677,300.00 2/2/09 $47,000.00 12/2/09 $2,500.00 12/2/09 $2,500.00 12/4/09 $12,000.00 12/4/09 $2,481.00 12/4/09 $10,000.00 12/7/09 $8,200.00 12/7/09 $800.00 12/7/09 $800.00 12/10/09 $8,000.00 12/11/09 $20,000.00 12/14/09 $3,000.00 12/16/09 $1,971.00 12/16/09 $6,250.00 12/17/09 $14,100.00 12/18/09 $5,334.00 12/18/09 $5,334.00 12/18/09 $1,200.00 12/18/09 $16,000.00 12/21/09 $3,000.00 11/25/09 $11,000.00 11/30/09 $50,000.00 11/30/09 $50,000.00 11/30/09 $17,480.00 11/30/09 $78,800.00 12/1/09 $36,667.00 11/19/09 $33,334.00 11/20/09 $2,500.00 11/20/09 $250.00 4 11/20/09 $14,900.00 11/20/09 $14,900.00 11/18/09 $16,034.00 11/18/09 $46,667.00 9/24/09 $10,000.00 9/25/09 $48,000.00 9/3/09 $33,334.00 9/29/09 $5,000.00 9/4/09 $10,000.00 9/29/09 $19,500.00 9/2/09 $600.00 9/14/09 $2,000.00 10/1/09 $13,000.00
UNITS 0 0 0 2 2 4 0 0 0 4 0 4 0 3 0 6 6 0 0 3 0 0 8 0 4 4 0 0 4 6 5 4 4 5 2 2 4 8 4 4 8 6 4 4 0 4 5 0 0 4 7 6 4 4 4 4 4 12 12 4
Property Transfers SITE ADDRESS
CITY
NEW OWNER
PREVIOUS OWNER
DATE PRICE
1456 W 85th St 1549 W 117th St 1908-1916 W 57th St 1908-1916 W 57th St 1908-1916 W 57th St 1908-1916 W 57th St 1908-1916 W 57th St 1925 W 77th St 2201 W 93rd St 2201 W 93rd St 2201 W 93rd St 2648 E 61st St 2815 E 130th St 2815 E 130th St 2830 E 130th St 2836 E 130th St 3121 E 65th St 3142 E 93rd St 3229 W 17th St 3229 W 17th St 3399 E 140th St 3521 E 117th St 3720 E 142nd St 3893 E 57th St 1889 E 84th St 582 E 117th St 1169 E 58th St 1237 E 100th St 6315 Fullerton Ave 6315 Fullerton Ave 6516 Forman Ave 6716 Fleet Ave 6723 Gertrude Ave 7514 Elton Ave 8607 Beckman Ave 8814 Blaine Ave E 33rd St 15278 Triskett Rd 15278 Triskett Rd 8002 Lake Ave 3466 E 119th St 3466 E 119th St 10013 Elwell Ave 2501 Professor Ave 6306 Edna Ave 7117 Donald Ave 4208 Howlett Ave 5323 Mound Ave 5323 Mound Ave 1332 W 83rd St 6911 Franklin Blvd 657 S Belvoir Blvd 4315 Bridge Ave 3430 E 140th St 3567 Bosworth Rd 2461 Noble Rd 1845 2nd St 567 Seasons Rd 1945 Cook St 14225 Orinoco Ave 14548 Strathmore Ave
Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Heights Cuyahoga Falls Cuyahoga Falls Cuyahoga Falls East Cleveland East Cleveland
Vandette Steven BOESCH CHRISTOPHER JR 8/24/09 $95,000.00 Ib Property Holdings LLC MJS 80TH LLC;+ 9/9/09 $50,000.00 Lumbus-Johnson T Dorene BELOW MARKET PROPERTIES 10/1/09 $2,250.00 Lumbus-Johnson T Dorene BELOW MARKET PROPERTIES 10/1/09 $2,250.00 Lumbus-Johnson T Dorene BELOW MARKET PROPERTIES 10/1/09 $2,250.00 Lumbus-Johnson T Dorene BELOW MARKET PROPERTIES 10/1/09 $2,250.00 Lumbus-Johnson T Dorene BELOW MARKET PROPERTIES 10/1/09 $2,250.00 Stoutt Warren PENNY MAC LOAN SERVICES LLC 8/25/09 $7,000.00 Rre West Tech LLC W TECH LP 9/15/09 $4,500,000.00 Rre West Tech LLC W TECH LP 9/15/09 $4,500,000.00 Rre West Tech LLC W TECH LP 9/15/09 $4,500,000.00 City Of Cleveland KEITH PIERCE BUILDERS LLC 9/28/09 $3,687.00 Shaker Square Towers LLC SDPI LLC;+ 8/31/09 $931,000.00 Shaker Square Towers LLC SDPI LLC;+ 8/31/09 $931,000.00 Leader Real Estate Ltd CRANDELL PARK APARTMENTS LLC 9/10/09 $450,000.00 Leader Real Estate Ltd CRANDELL PARK APARTMENTS LLC 9/10/09 $450,000.00 Federal National Mortgage As. HANSLIK MARK A 8/25/09 $21,334.00 Shorebank Cleveland PITTMAN JAVON 8/28/09 $26,667.00 Taylor Michael A NJ FINDERS KEEPERS LLC 9/29/09 $52,000.00 Taylor Michael A NJ FINDERS KEEPERS LLC 9/29/09 $52,000.00 Ens Reo Group LLC AURORA LN SVCS LLC 9/9/09 $1,000.00 Smith Charles A FIRST-RATE DESIGN LLC 9/3/09 $300.00 Smith Charles A FISHER MILTON L 9/3/09 $800.00 Solonche Karen OPTEUM MORTGAGE SERIES 2005-4 8/28/09 $10,100.00 Gay Brandy A N ORTH COAST DIVERSIFIED 8/31/09 $300.00 Federal Natl Mtg Assn Fnma PATTERSON JEAN 9/11/09 $8,000.00 Gsd Investments LLC RICHARD T WILEY FAM PTSHP LTD 8/21/09 $76,800.00 Graham Chantrell D SIMPSON DOROTHY 9/14/09 $500.00 Federal Natl Mtg Assn Fnma ADAMS MICHAEL A JR/NANCY 10/6/09 $166,667.00 Federal Natl Mtg Assn Fnma ADAMS MICHAEL A JR/NANCY 10/6/09 $166,667.00 Erie Restoration Group Inc M/M PROPERTIES R/E TRUST 10/5/09 $42,545.00 Blue Ground Properties SECRETARY OF VETERANS AFFAIRS 10/1/09 $14,000.00 Point Lobos Funding LLC UNITED MANAGEMENT/INV LLC 10/6/09 $32,500.00 City Of Cleveland CHAMPION DARNELL L 9/28/09 $20,476.00 Garrett Terry BARNES ALBERT L/ELEANOR 9/3/09 $300.00 Adams Elsie US BANK NA 9/18/09 $700.00 Federal Natl Mtg Assn Fnma NGHIEM DUC 10/2/09 $66,667.00 Triskett Apartments LLC SENYITKO RUTH P 10/14/09 $425,000.00 Triskett Apartments LLC SENYITKO RUTH P 10/14/09 $425,000.00 Firstmerit Bk Na FANOUS MOHSEN 10/22/09 $39,000.00 Stonecrest Income & Opportunity BANK OF NY RAMP 2003RS9 10/22/09 $1,475.00 Stonecrest Income & Opportunity BANK OF NY RAMP 2003RS9 10/22/09 $1,475.00 Jenkins Kent HILL MARK W 10/26/09 $66,800.00 Odea Ltd GALAN GWYN 10/27/09 $170,000.00 Hurd Edward N Jr KLEIN JUDITH L 10/28/09 $115,000.00 Hurd Edward N Jr ESKIN ROBERT J. 10/28/09 $60,000.00 Urban Investment Group Inc WALRUS PROPERTIES LLC 10/30/09 $1,000.00 Pardamean Gabriel BARNES GARY S 10/30/09 $145,000.00 Pardamean Gabriel BARNES GARY S 10/30/09 $145,000.00 Ib Property Holdings LLC FRANKLIN MANOR APARTMENTS LLC 11/2/09 $93,800.00 Eisenberg Jeffrey C PARK PLACE SERIES 2005-WCH1 11/6/09 $31,000.00 Leader Real Estate Ltd LYDRIS MANAGEMENT III LLC 11/6/09 $225,000.00 Jp Morgan Chase Bank Na FEDERAL HOME LOAN MTG CORP 11/9/09 $40,000.00 Friedman Oina STEWARDSHIP FUND 11/13/09 $4,480.00 Marilu Properties LLC CREPD LLC 11/17/09 $160,000.00 Wja Properties Inc CHAGRIN INC 11/2/09 $440,000.00 Hartville Investment Co LLC 1845 PROPERTIES LLC 10/28/09 $215,000.00 City Of Hudson PROCACCIO VINCENT G/PAMELA C 10/29/09 $4,275.00 Gcp Management LLC BLUE SPRUCE ENTITIES LLC 8/26/09 $1,000.00 Rlw Business Ents TORMAX LLC 8/24/09 $11,040.00 Davis Charles E 14408-10 STRATHMORE TRUST;HOLM MAUDIE L 9/3/09 $300.00
UNITS 4 32 0 0 0 0 0 4 181 8 0 4 0 50 18 18 4 4 2 2 4 4 4 4 4 5 8 6 0 0 4 4 4 0 5 0 0 6 5 6 2 2 4 4 18 4 4 5 3 16 4 8 3 4 11 25 0 4 4 4 4
Suites Magazine • 33
Property Transfers SITE ADDRESS
CITY
NEW OWNER
PREVIOUS OWNER
1749 Hayden Ave 1838 Hastings Ave 15997 Nelacrest Rd 333 Washington Ave 903 Oberlin Elyria Rd 903 Oberlin Elyria Rd 4943 Massillon Rd 1170 French Ave 11731 Lake Ave 11731 Lake Ave 13386 Madison Ave 1594 Ridgewood Ave 2066 Magee St 2107 Robin St 12002 Lake Ave 11871 Lake Ave 1574 Ridgewood Ave Madison Ave 2066 Magee St 1497 Coutant Ave 1497 Coutant Ave 804 N Central Dr #810 820 N Central Dr #826 726 E Erie Ave 1700 Washington Ave 5080 Lee Rd 3711 Mogadore Rd 3711 Mogadore Rd 3439 Grantwood Dr 3439 Grantwood Dr 6169 Ridge Rd 3439 Grantwood Dr 3439 Grantwood Dr 20201 Fairmount Blvd 20201 Fairmount Blvd 4376 Darrow Rd 4480 Kent Rd 4480 Kent Rd 4480 Kent Rd 4480 Kent Rd 4480 Kent Rd 2644-2655 University Blvd 2644-2655 University Blvd 2644-2655 University Blvd 3938 Tyndall Rd 189 Depot St 28674 Detroit Rd 28670 Detroit Rd 28670 Detroit Rd 28670 Detroit Rd 28670 Detroit Rd 28670 Detroit Rd 28670 Detroit Rd
East Cleveland Mayfield Linda SCOTT HUTCHISON PROPERTIES INC East Cleveland Commodore Housing LLC GO INVEST WISELY LLC East Cleveland Cba Commercial Assets 2006-2 REED REGGIE;+ Elyria Great Homes For You LLC DAVIS JASON E Elyria Kerchmar Mark A DAWSON LORETTA L Elyria Kerchmar Mark A DAWSON LORETTA L Green Salt & Light Investments LLC BROOKSIDE PROPERTIES INC Lakewood Cafarelli Gilberto CAFARELLI GILBERTO Lakewood Bttw Lakewood LLC NAUMANN RICHARD L Lakewood Bttw Lakewood LLC NAUMANN RICHARD L Lakewood Ib Property Holdings LLC LONG JOHN W JR Lakewood Ace Securities Corp 2004-Hs1 BOROSH LAWRENCE C/DONNA Lakewood Citimortgage Inc VARGA JULIUS D Lakewood Federal Natl Mtg Assn Fnma CLINE CARL L/BELINDA;+ Lakewood Marilu Properties LLC CREPD LLC Lakewood Marilu Properties LLC CREPD LLC Lakewood Bear Stearns Trust 2005-1 BEAVER KEVIN Lakewood Ib Property Holdings LLC LONG JOHN W JR Lakewood Dregalla Philip W CITIMORTGAGE INC Lakewood Wetula Leopold E ST PETER CAROLE Lakewood Wetula Leopold E ST PETER CAROLE Lorain Flesch Emil G F Jr FLESCH EMIL G F JR Lorain First Fedl S & L Assn Of Lorain CITY OF LORAIN Lorain Gsamp Trust 2006-Sd3 Mtg STAMMITTI MIKE E Lorain City Of Lorain HUD Maple Heights Gsd Investments LLC SKIDMORE SUSAN J Mogadore Federal Natl Mtg Assn Fnma SHAFFER KAREN M Mogadore Gregory Randall B FEDERAL NATL MTG ASSN FNMA Parma Argent Securities 2005-W3 BELANGER WOODROW L Parma Argent Securities 2005-W3 BELANGER WOODROW L Parma Milstein Properties LLC KUZMA FAM LTD PTSHP Parma House Under Of Blue Bottle LLC ARGENT SECURITIES 2005-W3 Parma House Under Of Blue Bottle LLC ARGENT SECURITIES 2005-W3 Shaker Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ Shaker Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ Stow Deecee Ents LLC GROSSO GEORGE D TRUST Stow Stow Kent Nonprofit Hsng STOW KENT GARDENS II DEV. CO Stow Stow Kent Nonprofit Hsng STOW KENT GARDENS II DEV. CO Stow Stow Kent Nonprofit Hsng STOW KENT GARDENS II DEV. CO Stow Stow Kent Nonprofit Hsng STOW KENT GARDENS II DEV. CO Stow Stow Kent Nonprofit Hsng STOW KENT GARDENS II DEV. CO University Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ University Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ University Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ University Heights Cura Personalis LLC RWR FAIRMOUNT LLC;+ Wellington Petsche Gary J LOPER WILLIOS E Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL Westlake Barrington Gardens Assocs LLC BARRINGTON PLACE APTS LL
DATE PRICE 9/21/09 8/24/09 11/18/09 9/15/09 10/28/09 10/28/09 9/14/09 9/25/09 9/9/09 9/9/09 9/3/09 9/30/09 8/25/09 10/9/09 11/17/09 11/17/09 11/6/09 9/3/09 12/21/09 12/1/09 12/1/09 9/21/09 9/15/09 11/23/09 11/17/09 10/13/09 11/12/09 12/10/09 9/9/09 9/9/09 10/7/09 10/22/09 10/22/09 10/1/09 10/1/09 9/2/09 8/31/09 8/31/09 8/31/09 8/31/09 8/31/09 10/1/09 10/1/09 10/1/09 10/1/09 10/7/09 10/26/09 10/26/09 10/26/09 10/26/09 10/26/09 10/26/09 10/26/09
$5,000.00 $1,000.00 $66,667.00 $115,000.00 $130,000.00 $130,000.00 $515,000.00 $416,000.00 $635,000.00 $635,000.00 $190,000.00 $70,000.00 $30,000.00 $30,000.00 $300,000.00 $230,000.00 $78,926.00 $190,000.00 $42,000.00 $150,000.00 $150,000.00 $1,000.00 $12,000.00 $165,713.00 $33,000.00 $164,625.00 $104,000.00 $144,000.00 $20,000.00 $20,000.00 $149,000.00 $25,000.00 $25,000.00 $3,840,000.00 $3,840,000.00 $386,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $2,500,000.00 $3,840,000.00 $3,840,000.00 $3,840,000.00 $3,840,000.00 $35,000.00 $7,700,000.00 $7,700,000.00 $7,700,000.00 $7,700,000.00 $7,700,000.00 $7,700,000.00 $7,700,000.00
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UNITS 6 4 8 0 4 1 0 11 25 0 11 4 4 4 19 10 4 0 4 4 4 0 0 0 0 6 0 0 0 0 6 0 0 0 0 0 0 0 0 0 0 13 8 0 0 0 0 34 36 24 36 36 34
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