The Three Rivers Association of REALTORS® (TRAR) helped facilitate an area landlord conference for the City of Joliet and McHenry REALTOR® Sue Miller gave an encouraging keynote message July 11 and 12.
About 400 Joliet-area landlords attended the event, which TRAR helped fund through a National Association of REALTORS® (NAR) Diversity Initiative Grant.
The City of Joliet reached out to Local Governmental Affairs Director Gideon Blustein in December 2015 for help in securing a speaker who could discuss: the local rental market, the financial benefits of capital investments/beautification and new U.S. Department of Housing and Urban Development’s (HUD’s) guidance on criminal background checks for housing providers.
After a short search, the TRAR Board identified Miller, Managing Broker of Coldwell Banker Honig-Bell’s McHenry office, a continuing education and pre-license trainer who owns or manages more than 50 commercial and residential units. NAR awarded the grant to cover Miller’s speaking fees and to help promote the REALTOR® brand. Illinois REALTORS® can help the housing community interpret and practice diversity initiatives, understand local, state and federal fair housing laws and understand HUD’s concerns about criminal background checks.
Conference attendees included licensed REALTORS®, and landlords with a wide range of managing responsibilities: from one unit to hundreds of units. All attendees walked away with a better understanding of HUD’s new guidance and good news about their market. “You got a 12 percent raise this year, that’s good news!” stated Miller when referencing the increased values in the Joliet market. With only a 1.4 month absorption rate in the rental market and a limited number of rentals, she said beautifying and investing in properties now will lead to stronger neighborhoods and higher rents.