Browse Tag: Institute of Real Estate Management

Bed Bugs And The Law: IREM’s Chuck Achilles at NAR 2011

Line art drawing of a bedbug.

The commercial real estate industry’s problem with bed bugs is only growing; some entomologists (that’s “bug scientists” to you and me) alarmingly predict that 50% of US residences will be infested with the persistent critters in a few years.  Bed bugs spread among multi-unit housing, and are also spread by travel to infested spaces, which can be as small as a single chair in a hotel lobby.  The health and legal consequences for owners, managers, operators, guests and residents apartment buildings, multi-family, hospitality, theaters and commercial properties of all stripes are huge and getting bigger.

The issue brought together a full house today in Room 206 at NAR Annual 2011 in Anaheim to hear a pair of experts in the session “. Leading off was Chuck Achilles, Chief Legislative and Research Officer, IREM (Institute Of Real Estate Management) addressed the regulatory side with a run through of the recent legislative and regulatory body pronouncements.

Chuck outlined the HUD Guidelines Aug 16 2011, (PDF link here) which spell out the Department of Housing and Urban Development’s “Guidelines on Bed Bug Control And Prevention in HUD Insured And Assisted Multifamily Housing”.  These guidelines are important to read no matter what part of the industry you’re in, but can also have special consequences for properties financed through Fannie or Freddie.

Chuck Achilles said IREM’s October 2 Response to HUD’s Guidelines “agrees with [HUD’s] statement” and further mentioned that some owners of larger properties had seen bed bug remediation costs of “between 50 and 100 thousand dollars”.

Chuck went on to relate that according to the National Conference Of State Legislators, 13 stats so far have passed bed bug legislation and an additional 15 are considering measures, including a proposal in New York to provide a tax credit to replace personal property destroyed in bed bug remediation efforts.  In NYC 2008 9,213 instances of bed bug inquiries were logged, compared to a small few hundred in 2004.

Attorney and UNLV instructor Christian Hardigree followed.  A post covering her talk is here.

For a full recording of the talk, visit PlaybackNAR.

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Introducing….IREM

We’re introducing a new regular feature to The Source, guest blogging by one of NAR’s Commercial Affiliate organizations, the Institute of Real Estate Management.  The following was contributed by Karen Altes, Senior Manager of Online Communities for IREM.  We invite you to comment and ask any questions you have for IREM.

NAR Commercial has invited us, the Institute of Real Estate Management (IREM®), to start contributing here on The Source. We are incredibly excited about this opportunity, and we wanted to use our first post to introduce ourselves to you.

IREM has been a trusted source of knowledge, advocacy, and networking for the real estate management industry for over 77 years. We offer training and credentialing all over the world – we have chapters in six countries in addition to the US and work with international partners in seven more. Our nearly 18,000 members are site managers, property managers, portfolio managers, asset managers, and real estate company executives. They manage all property types, from conventional apartments to commercial office buildings; from federally assisted affordable housing to industrial parks; from single-family rentals to retail shopping centers.

IREM offers several credentialed memberships for property management professionals:

IREM also offers Student, Academic, and Associate memberships.

Real estate management is growing steadily as a profession due to the overall growth in the number of all types of buildings, the larger percentage of real estate considered investment property, and increasing awareness that management of real estate assets requires special training and education. We look forward to contributing here on a variety of topics related to our segment of the commercial real estate industry.

We’ll be a regular feature here on this CommercialSource.com blog  – by collaborating, we can share and learn from each other, and together become a stronger voice for our industry.  Thanks for having us!

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