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Kathleen D. Franco
Chief Executive Officer
Trinity Management, LLC
2018 RHA President
 
Can it be December already?  It has been such a pleasure serving as your 2018 RHA President. 2018 was truly an amazing and productive year for the RHA.   In 2018 we celebrated our 65th Anniversary with robust programming and plentiful networking opportunities to best serve our members.  
 
As 2018 draws to a close, we are delighted to report that RHA’s Membership continues to be strong with 577 Members, including 188 Affiliate Members and 389 Industry Members, representing 156,708 rental units around New England.
 
RHA enriched 310 members and guests with valuable educational programs including NAAEI credentials: CAPS, CAM, NALP and CAMT. RHA showcased new developments and industry trendsetters in the successful Breakfast Buzz and Biz series. RHA provided networking opportunities for 2,779 members and guests at events such as the Summer Cookout, Maintenance Mania and our signature annual tradeshow. We rounded out the year with the President’s Awards Dinner where we honored Massachusetts Speaker of the House, Robert A. DeLeo, with the Excellence in Public Service Award and Karen Fish-Will, Principal & CEO, Peabody Companies, with the Industry Excellence Award. As we wrap-up the year, through our charitable efforts, we are pleased to be donating $30K to Rosie’s Place and Friends of Boston’s Homeless.
 
Administratively, we completed a thorough strategic planning exercise and have a new Strategic Plan for implementation in 2019, which we feel strengthens our commitment to our membership and relevance in the industry. One key initiative of the 2019 Strategic Plan is a change in RHA’s Membership structure from an individual based plan to a more inclusive company based membership.   More information about the membership change can be found here.  More information about the Strategic Plan will be shared in 2019 under the leadership of Lauren Paton, Regional Director, Brookfield, 2019 RHA President and the 2019 Board of Directors.  
 
Thank you for your contributions to the RHA’s successful year.   We look forward to your continued support and participation in the RHA in 2019! 
 
If you have any suggestions on how we can help strengthen RHA, please do not hesitate to contact Adrienne Maley at amaley@gbreb.com

Sincerely, 

Kate Franco
2018 RHA President 

RHA President's Message 2018
GBREB NEWS

Massachusetts SJC Upholds Independent 3rd Party Appraisals

In September GBREB filed an Amicus Curiam , or “Friends the Court” brief in the case of Buffalo-Water, LLC V. Fidelity Real Estate Company LLC.  

In this case the two parties reached a contractual agreement on the purchase/sale of commercial property, with the price being established by a 3rd party appraiser. In this case, Buffalo Water did not like the number that the appraiser arrived at for the sale price and sought to extricate themselves from the transaction.

Under Massachusetts law, judicial review of an independent third party appraisal in a transaction like this was limited to cases of fraud, corruption, dishonesty or bad faith. This case is an attempt to create additional categories to discredit the third party appraisal and thwart a transaction.

The issue on appeal in this case  is whether we should modify this common-law rule and allow a judge to invalidate an appraisal intended by the parties to provide a final, binding valuation of a property where there is the appearance of bias, not on the part of the individual who conducted the appraisal, but on the part of the entity that employed the individual appraiser.

On November 26th,  the SJC concluded that the common-law rule established in Eliot v. Coulter, 322 Mass. 86, 91 (1947),  properly balances the need for fair valuations with the need for finality in the appraisal process, and that an appearance of bias alone is insufficient to invalidate an appraisal. Because the allegations in the complaint, if proved, do not warrant a finding of any violation of the agreements setting forth the terms of the appraisal, or a finding of fraud, corruption, dishonesty, or bad faith by the individual appraiser, or a finding of breach of the implied covenant of good faith and fair dealing by the defendant, the SJC affirmed the Superior Court judge's order allowing the defendant's motion to dismiss.

The Amicus Brief filed on behalf of the Greater Boston Real Estate Board states that the current law should be upheld and that no new categories or exceptions should be created judicially as that is best left to the Massachusetts Legislature.  The Massachusetts Supreme Judicial Court decision upheld GBREB's position.

 


 

Court Upholds Independent Appraisals

Lapatin on the Law is a monthly legal update for RHA Members

Click Here for Lapatin on the Law
Lapatin on the Law - November 2018
The November 9th Breakfast Buzz & Biz program has been postponed
November Breakfast Buzz & Biz Postponed
 

Events

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Event
NAAEI NALP National Apartment Leasing Professional
Feb 04, 2019 - Feb 06, 2019
Pro- Care
3 North Maple Street
Woburn, MA
NAAEI Certified Apartment Portfolio Supervisor
Feb 26, 2019 - Mar 01, 2019
Apartments.Com
33 Arch Street, 33rd Floor
Boston, MA
2019 RHA Bruins Outing
Feb 26, 2019
TD Garden, 100 Legends Way
100 Legends Way
Boston, MA
NAAEI CAMT Credential
Apr 16, 2019 - Apr 19, 2019
ARS Headquarters
38 Crafts Street
Newton, MA
NAAEI CAMT Credential
May 14, 2019 - May 17, 2019
ARS Restoration Specialists
38 Crafts Street
Newton, MA

Calendar

Event
NAAEI NALP National Apartment Leasing Professional
Pro- Care
 
NAAEI Certified Apartment Portfolio Supervisor
Apartments.Com
 
2019 RHA Bruins Outing
TD Garden, 100 Legends Way
7:00pm
 
NAAEI CAMT Credential
ARS Headquarters
 
NAAEI CAMT Credential
ARS Restoration Specialists