Author: realestatenate1

President & Managing Broker

The Apartment Source

Panelist

Relationship Bank Officer

Wintrust Bank

Panelist

With the advent of AI and other technologies, the multifamily industry is confronting an increasing number of fraud types, leading to significant implications and costs. This NBOA Workshop will address three specific areas of concern:

Postal: Learn how criminals use the postal system to commit fraud and discover strategies for ensuring safe and secure mail service in your mail rooms. Click to see example of theft from a building’s mailbox.

Banking: As electronic banking becomes more common, understand the steps you should take to prevent being defrauded and the necessary checks and balances to implement.

Rental Screening: Discover how to protect your properties from fraud when screening prospective tenants.



We have three expert panelists who will share their knowledge and insights on these critical topics.

We encourage you to invite your staff, as this workshop will provide valuable information for everyone involved in property management.

Leasing fraud is a massive problem nationwide.

See this excerpt from a disturbing article published in Yahoo News October 22nd.

“Atlanta, a city once known for its affordability and Southern hospitality, is now grappling with a very different reputation: a hot spot for rental application fraud.

As high-end apartments sit vacant and affordability dwindles, property managers report a sharp rise in applicants falsifying income, employment, and even identities—all in an effort to secure leases they might not otherwise qualify for.

Greystar, the nation’s largest apartment landlord, says up to 50% of rental applications in some Atlanta buildings are fraudulent, according to the Wall Street Journal. Other landlords also see the trend, citing a surge in fake pay stubs, doctored bank statements, and false employment verification letters—many of which are being sold on social media platforms such as TikTok.”

As per the above cited Wall Street Journal article:

• Nationally, nearly three-quarters of apartment owners saw a 40% increase in rental application and payment fraud last year.

• The surge in fraud is linked to an unbalanced housing market, a glut of luxury units and a shortage of affordable housing.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

President & Managing Broker

The Apartment Source

Panelist

Relationship Bank Officer

Wintrust Bank

Panelist

With the advent of AI and other technologies, the multifamily industry is confronting an increasing number of fraud types, leading to significant implications and costs. This NBOA Workshop will address three specific areas of concern:

Postal: Learn how criminals use the postal system to commit fraud and discover strategies for ensuring safe and secure mail service in your mail rooms. Click to see example of theft from a building’s mailbox.

Banking: As electronic banking becomes more common, understand the steps you should take to prevent being defrauded and the necessary checks and balances to implement.

Rental Screening: Discover how to protect your properties from fraud when screening prospective tenants.



We have three expert panelists who will share their knowledge and insights on these critical topics.

We encourage you to invite your staff, as this workshop will provide valuable information for everyone involved in property management.

Leasing fraud is a massive problem nationwide.

See this excerpt from a disturbing article published in Yahoo News October 22nd.

“Atlanta, a city once known for its affordability and Southern hospitality, is now grappling with a very different reputation: a hot spot for rental application fraud.

As high-end apartments sit vacant and affordability dwindles, property managers report a sharp rise in applicants falsifying income, employment, and even identities—all in an effort to secure leases they might not otherwise qualify for.

Greystar, the nation’s largest apartment landlord, says up to 50% of rental applications in some Atlanta buildings are fraudulent, according to the Wall Street Journal. Other landlords also see the trend, citing a surge in fake pay stubs, doctored bank statements, and false employment verification letters—many of which are being sold on social media platforms such as TikTok.”

As per the above cited Wall Street Journal article:

• Nationally, nearly three-quarters of apartment owners saw a 40% increase in rental application and payment fraud last year.

• The surge in fraud is linked to an unbalanced housing market, a glut of luxury units and a shortage of affordable housing.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

We have some great news from Springfield, where the General Assembly wound up its fall veto session.

Thanks to your overwhelming response to our Call to Action — nearly 900 members sent 56,000 letters to our state senators— the State Senate significantly amended HB 3564, which would have severely restricted move-in fees and security deposits — to our considerable favor.

The bill originally would have prohibited us from charging both a security deposit and a move-in fee. Moreover, it required that security deposits not exceed the equivalent of one month’s rent and restricted move-in fees to 20% of one month’s rent, requiring us itemize our move-in fee expenses. Furthermore, the original bill required that we offer tenants a right to pay their one-time fees, including move-in fees, in installments over a six-month period.

The final version of the bill introduced yesterday and approved by the State Senate eliminated all of those egregious provisions.

The amended bill still requires that housing providers list all non-optional fees on the first page of the lease and it still bans other fees — few, if any, that I think we actually impose. It also limits application fees to $50, but also provides a way for you to recover additional application fee charges – if you comply with certain requirements.

We feel that these provisions are manageable compared to the original restrictions that would have made it harder for small and mid-sized housing providers, especially those in Chicago who use move-in fees as a substitute for security deposits due to onerous security deposit provisions in the Chicago Residential Landlord & Tenant Ordinance (CRLTO).

Kudos to our valued partners at the Chicagoland Apartment Association (“CAA”), who led the lobbying effort and who are now neutral on the bill—a sign that the bill is no longer kryptonite for our industry.

This victory shows what happens when housing providers make their voices heard.

Thanks to those of you who took action.

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

President & Managing Broker

The Apartment Source

Panelist

Relationship Bank Officer

Wintrust Bank

Panelist

With the advent of AI and other technologies, the multifamily industry is confronting an increasing number of fraud types, leading to significant implications and costs. This NBOA Workshop will address three specific areas of concern:

Postal: Learn how criminals use the postal system to commit fraud and discover strategies for ensuring safe and secure mail service in your mail rooms.

Banking: As electronic banking becomes more common, understand the steps you should take to prevent being defrauded and the necessary checks and balances to implement.

Rental Screening: Discover how to protect your properties from fraud when screening prospective tenants.



We have three expert panelists who will share their knowledge and insights on these critical topics.

We encourage you to invite your staff, as this workshop will provide valuable information for everyone involved in property management.

Leasing fraud is a massive problem nationwide.

See this excerpt from a disturbing article published in Yahoo News October 22nd.

“Atlanta, a city once known for its affordability and Southern hospitality, is now grappling with a very different reputation: a hot spot for rental application fraud.

As high-end apartments sit vacant and affordability dwindles, property managers report a sharp rise in applicants falsifying income, employment, and even identities—all in an effort to secure leases they might not otherwise qualify for.

Greystar, the nation’s largest apartment landlord, says up to 50% of rental applications in some Atlanta buildings are fraudulent, according to the Wall Street Journal. Other landlords also see the trend, citing a surge in fake pay stubs, doctored bank statements, and false employment verification letters—many of which are being sold on social media platforms such as TikTok.”

As per the above cited Wall Street Journal article:

• Nationally, nearly three-quarters of apartment owners saw a 40% increase in rental application and payment fraud last year.

• The surge in fraud is linked to an unbalanced housing market, a glut of luxury units and a shortage of affordable housing.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

President & Managing Broker

The Apartment Source

Panelist

Relationship Bank Officer

Wintrust Bank

Panelist

With the advent of AI and other technologies, the multifamily industry is confronting an increasing number of fraud types, leading to significant implications and costs. This NBOA Workshop will address three specific areas of concern:

Postal: Learn how criminals use the postal system to commit fraud and discover strategies for ensuring safe and secure mail service in your mail rooms.

Banking: As electronic banking becomes more common, understand the steps you should take to prevent being defrauded and the necessary checks and balances to implement.

Rental Screening: Discover how to protect your properties from fraud when screening prospective tenants.



We have three expert panelists who will share their knowledge and insights on these critical topics.

We encourage you to invite your staff, as this workshop will provide valuable information for everyone involved in property management.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

Thank you to the large number of you who have already responded to this Call to Action. With this email, we urge more of you to do the same. Furthermore, we ask those of you who have already responded to urge your colleagues and staff to send emails as well.

State Senator Michael Simmons is once again attempting to dramatically reduce or eliminate important fees vital to our industry.

His bill, HB3564, caps move-in fees, requires a listing of actual costs covered by the move-in fee, limits security deposits to one month only, and requires installment options for fees, and caps or eliminates many other fees. In short, this bill greatly harms our ability to manage our properties and serve our residents.

The State Senate will likely consider this bill as early as tomorrow, Tuesday, and it only needs a simple majority vote to approve it.

You can either use the message that we provide, or, even better, read the proposed bill, customize the email and send your own message.

This is not the right time for the General Assembly to consider this poorly conceived piece of legislation that deeply harms the multifamily industry.

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

State Senator Michael Simmons is once again attempting to dramatically reduce or eliminate important fees vital to our industry.

His bill, HB3564, caps move-in fees, requires a listing of actual costs covered by the move-in fee, limits security deposits to one month only, and requires installment options for fees, and caps or eliminates many other fees. In short, this bill greatly harms our ability to manage our properties and serve our residents.

The State Senate will likely consider this bill as early as next Tuesday, and it only needs a simple majority vote to approve it.

This is not the right time for the General Assembly to consider this poorly conceived piece of legislation that deeply harms the multifamily industry.

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Opinions may vary as to the legitimacy of these actions and the appropriateness of the methods used to carry them out, but one thing is for certain. ICE is engendering fear among large segments of our population, including those who are in our nation legally.

This in turn has affected our ability to operate multifamily housing and serve our residents. Many of our tenants are afraid to leave their apartments and many of our employees and contractors are afraid to work at our buildings.

The Chicago Sun-Times on Thursday published a front-page story exploring this issue from the perspective of several of our members.

Given that these policies may remain in effect throughout the duration of the Trump Administration, and possibly beyond, it’s important for us all to consider the impact of ICE’s enforcement policies on our industry. Chicago is a city of immigrants, in various stages of documentation, and our industry serves those communities and often relies on those communities to maintain and work on our properties.

What impact do these enforcement actions have on neighborhood housing, especially at a time when all stakeholders are seeking ways to create more quality affordable housing?

John Warren. (Photo by Anthony Vazquez of the Chicago Sun-Times)

We thank these housing providers for sharing their stories. Clearly, current immigration enforcement policies are substantially affecting us as owners and managers, as well as our staff and our tenants.

Please take the time to read this Sun-Times account and think about the questions it raises.

How do these policies affect our operations?

How do these policies affect the people who work for us and with us?

How do these policies affect our residents?

Should we respond, and, if so, how?

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

NICK’S BEER GARDEN

1516 N. MILWAUKEE

Focusing on younger real estate professionals – and those aspiring to get more involved – the NBOA’s Young Professionals support the NBOA in many ways.

NBOA’s Young Professionals are seeking folks under the age of 35 who want to build their real estate network – especially those who would like to participate in and support NBOA’s advocacy efforts. You may consider joining the Young Professionals if you are under 35 years old, are involved in real estate, and have an interest in Chicago, Cook County and state wide politics and on keeping an eye on legislation.

Of course, you don’t need to be under 35 years old to attend tonight’s event.

Please send us an email if you would like the Young Professionals to include you on their email list.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

NICK’S BEER GARDEN

1516 N. MILWAUKEE

Focusing on younger real estate professionals – and those aspiring to get more involved – the NBOA’s Young Professionals support the NBOA in many ways.

NBOA’s Young Professionals are seeking folks under the age of 35 who want to build their real estate network – especially those who would like to participate in and support NBOA’s advocacy efforts. You may consider joining the Young Professionals if you are under 35 years old, are involved in real estate, and have an interest in Chicago, Cook County and state wide politics and on keeping an eye on legislation.

Of course, you don’t need to be under 35 years old to attend tonight’s event.

Please send us an email if you would like the Young Professionals to include you on their email list.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.