Apartment professionals test new technology.

Emerging technology in areas such as property management, resident screening and telecommunications presents apartment industry professionals with myriad tools to help satisfy residents and save time and resources. In this issue of UNITS, apartment owners and managers discuss their decisions to invest in new technology and software and the benefits of their choices.

By choosing to design telephone tracking software in-house, AMLI Residential was able to customize its product. Find out how AMLI designed and implemented its AMLItrak software on page 24 in It's Their Call.

Technology has created options for independent rental owners to effectively track income and expenses when preparing to file taxes. However, many still prefer time-tested pen-and-paper property management methods. In Pen and Paper or Point and Click, page 26, rental owners share the value and effectiveness of their methods.

In an effort to appeal to the technologically savvy students entering college today, some apartment owners are providing Wi-Fi at their properties, while others are taking a wait-and-see approach. Read about this emerging trend on page 34 in Technology's 'Must-Have' for Student Housing.

This issue of UNITS also examines the importance of workplace diversity. In an industry where resident and staff turnover can be challenging, recognizing and celebrating diversity is key to attracting and retaining top talent and residents, improving the bottom line and satisfying residents' needs.

When discussing diversity in the workplace, we often emphasize race, ethnicity and gender. However, some management companies--including Equity Residential and Southern Management--are adopting models of diversity that go beyond physical characteristics. Read about these companies' missions to include diversity at their companies in Diversity Counts, page 18.

Latinos and Hispanics represent the fastest-growing segment of the United States' population. See page 22 for some valuable points about this demographic in 19 Ideas on How to Market to Hispanics and Latinos.

Several NAA leaders and I spent three days in Germany and discussed issues, trends and business plans with some of Germany's top real estate executives. Find out how this trip set a foundation for the healthy sharing of information about the apartment industry on page 38 in German Exchange: Building A Relationship.

On page 46, 7 Steps for Tax Credit Compliance, Brian Carnahan outlines simple steps that give a manager who is new to the tax credit program a better chance to meet and beat the challenges of managing a tax credit community.

On page 73, NAA Consulting Economist Robert J. Sheehan examines 2004 trends in apartment construction in NYC Metro Area Led Nation in Apartment Construction in 2004. A valuable ranking of the top 50 markets is included.

NAA/NMHC outline their 2005 legislative and regulatory priorities on page 56, Why America Needs A More Balanced Housing Policy NAA members will share these issues with their Congress members during the 2005 NAA Capitol Conference in Washington, D.C., March 6-9 as NAA works to get your voice heard on Capitol Hill.