Winter 2024 Newsletter | Triangle Building & Housing Corporation
TBHC NEWSLETTER Building Triangle’s Future
Mike Fouts Achieves the Coveted CPM Certification from IREM By Don Hatfield msu88, Triangle Building & Housing Corporation Secretary
In the competitive world of real estate and property management, professionals are constantly striving to enhance their expertise and distinguish themselves. The TBHC needs a wide range of experience and knowledge to continue meeting the needs of
Triangle’s Chapters and the Triangle family as a whole. Achieving a Certified Property Manager (CPM) designation from the Institute of Real Estate Management (IREM) is a testament to dedication, knowledge, and excellence in this field. Recently, Mike Fouts joined the ranks of distinguished professionals who have earned the prestigious CPM certification, demonstrating his commitment to the highest standards in property management. The Journey to Excellence Mike Fouts embarked on his journey towards the CPM certification with a strong background in property management, armed with years of experience as the Executive Director of the TBHC and a genuine passion for the industry. IREM's CPM program is renowned for its rigorous standards, encompassing education, experience, and a commitment to ethics. Earning this certification is no small feat, as it involves a series of challenges designed to ensure that individuals possess a comprehensive understanding of the complexities of property management. These challenges usually take two years to complete: Education: To qualify for the CPM certification, candidates must complete a set of educational courses that cover a wide range of topics, from property operations and financial management to risk management and ethics. Mike Fouts diligently completed these courses, gaining valuable insights and practical knowledge to excel in his profession. Experience: In addition to education, candidates are required to have a certain amount of experience in the property management field. Mike's extensive background in managing properties and working with diverse clients provided him with the necessary experience to meet this requirement.
Ethics: Upholding the highest ethical standards is a hallmark of IREM, and CPM candidates must commit to a strict code of ethics. Mike Fouts's unwavering commitment to integrity and professionalism was evident throughout his certification journey, reflecting his dedication to the ethical principles that guide the industry. The Benefits of CPM Certification Achieving the CPM certification is not just a personal achievement; it also brings a multitude of benefits to both Mike and the TBHC: Enhanced Knowledge: The educational requirements of the CPM program ensure that individuals possess a comprehensive understanding of property management, equipping them with the skills to excel in their roles. Professional Recognition: The CPM designation is widely recognized and respected in the real estate industry, giving certified professionals a competitive advantage and enhancing their career prospects. Network and Resources: Certified Property Managers gain access to a vast network of likeminded professionals and valuable resources provided by IREM, furthering their ability to excel in their roles. Ethical Standards: The commitment to ethical conduct is a fundamental aspect of the CPM program, ensuring that professionals like Mike Fouts uphold the highest standards of integrity in their work. Mike Fouts’s achievement of the CPM certification from IREM is a testament to his dedication, knowledge, and commitment to excellence in the TBHC and property management. This prestigious designation not only represents a personal milestone but also highlights his readiness to deliver top-tier property management services and contribute positively to the TBHC. Please join the TBHC in congratulating Mike!
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TEF Purchases $1M Debentures from TBHC By Don Hatfield msu88, Triangle Building & Housing Corporation Secretary
In July 2023, the Triangle Education Foundation
initiated a $500,000 TBHC debenture. This will be followed by another $500,000 debenture in January. This is more than just an investment, it is a partnership – this debenture helps both the TEF and TBHC. The TEF will get a guaranteed return on its investment, while the TBHC will receive cash which helps it fund its projects such as the extensive remodel and addition at the Illinois Chapter. TEF knows a good investment when they see it.
Fire Alarm Improvements at the Michigan Tech Chapter By Don Hatfield msu88, Triangle Building & Housing Corporation Secretary
T he TBHC continues to improve the properties that it owns so they may be safe and useful for our Brothers. Recently, the Michigan Tech Chapter received improvements to update the Chapter Home for fire alarms.
This improvement hits home for the Michigan Tech Chapter. Only months after the current Chapter Home was occupied by the Brothers, the former apartment house used by the Chapter caught fire and was a total loss. As recently as June 2022, Michigan Tech University suffered a fire at another fraternity house. Luckily, the house was occupied by only five members and it happened during the summer term. The TBHC includes plans for life safety in all properties it owns, including at minimum fire alarms with “hardwiring” to notify the fire department. It also advocates for sprinkler systems which provide active protection against fire.
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Embrace Winter Comfort: Tips for an Energy-Efficient Winter By Ariel Tarosky, Sr. Director of Development & Marketing
As winter blankets the country in a snowy embrace, it’s the perfect time to ensure that your homes are not only cozy but also energy-efficient. Below are some ideas that will not only keep you warm this winter, but that will keep the environment and your wallet in mind. 1. Insulation Insights Start by checking your home’s insulation. Proper insultation is a key player in maintaining a comfortable temperature and reducing energy bills. Talk to a professional about the latest insulation materials and techniques that can make a significant difference in your home’s thermal performance.
A Review of TBHC’s Summer Intern, Adam Troyer
By Don Hatfield msu88, Triangle Building & Housing Corporation Secretary Adam Troyer, a Real Estate and Finance senior, undertook a summer internship with Triangle Building and Housing Corporation (TBHC) in 2023. This collaboration proved mutually beneficial: TBHC gained an external perspective on its portfolio Adam provided valuable property evaluations without straining TBHC’s resources Adam gained practical experience aligning with his studies
2. Smart Thermostats Discover the wonders of smart thermostats. These innovative devices allow you to control your home’s temperature remotely, optimize heating schedules, and even learn your preferences over time. 3. Energy-Efficient Windows and Doors Explore the world of energy-efficient windows and doors. Upgrading to windows withbetter insulation properties and selecting doors with weatherstripping can enhance your home‘s energy performance, reduce drafts, and contribute to a quieter indoor environment. 4. Sustainable Heating Solutions: Get acquainted with eco-friendly heating options. From highefficiency furnaces to radiant heating systems, it is important to consider heating solutions that not only keep you warm but also reduce your carbon footprint. 5. Winter-Ready Landscaping: Extend your energy-efficient efforts outdoors. Discover landscaping tips thatnot only enhance curb appeal of your property but also provide natural insulation to keep your home warmer. From planting strategic windbreaks to using hardscaping features, there are multiple options to make your outdoor space work for the winter. By embracing these energy-efficient upgrades, you will not only enhance your winter comfort, but also contribute to a more sustainable and resilient community.
Adam’s tasks included property evaluation, appraisal, and rent analysis for TBHC-managed properties like Purdue, Oklahoma, and Michigan State. His comprehensive walkthroughs, including detailed notes and pictures, aided TBHC in understanding property conditions and planning improvements. Key Contributions: Cost-of-Living (Rent) Analysis: Adam conducted thorough benchmarking, comparing TBHC property rents against peers and local student housing. This helped TBHC verify that housing prices at most properties are lower or the lowest of the housing options. In all cases the properties have comparable or favorable pricing. Property Appraisal: Adam appraised each property using the Income, Cost, and Sales Comparable approaches, offering TBHC crucial insights for maintenance and improvement planning. The report found that some properties have an unfavorable valuation by the income approach, which usually indicates high vacancy or lack of total beds in the property. Walk-Throughs, Pictures, and Inspection Notes: Detailed property inspections and unexpected floor plan gathering provided TBHC with insights to prioritize and address issues effectively. Adam's internship achieved its core goals, providing realworld experience while supplying TBHC with essential data for future decision-making. The collaboration was a resounding success, benefiting both parties involved.
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Remodeled Parking Lot for the Illinois Chapter House
Left and upper: Progress photos of the original Illinois Chapter house parking lot being milled down to the base layer.
Left: Completed parking lot with improved traffic flow, accessible spots, and renovated surface.
The Illinois chapter of Triangle Fraternity is excited to announce the completion of its newly remodeled parking lot. Upon review, it was decided that the chapter needed a full lot replacement. The lot was milled down to its base layer and was provided with enhanced lighting, designated accessible spots, and improved traffic flow. In total, renovation costs for the new parking lot came to $68,000. The lot now provides a safer and more convenient experience for members and visitors alike. This renovation reflects our commitment to creating a welcoming environment while accommodating the needs of our community.
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TBHC HELPS WITH MORE THAN THE HOUSE...
IOWA STATE
MICHIGAN STATE
MICHIGAN TECH
PURDUE
ILLINOIS
OKLAHOMA
MICHIGAN
MICHIGAN
NATIONAL HQ
WE IMPROVE THE ENTIRE CHAPTER The chapters we service are generally more successful on their campuses, have more members, and perform better in academics. How does the TBHC measure its own success? We measure success by the success of the chapters we support.
Reach out to us through any National staff member or contact Triangle Building & Housing Corp. Executive Director, Mike Fouts at mfouts@trianglebhc.org or (317) 837-9640 Check out triangle.org/tbhc for more information