National GLO purchasing real estate?

[PKTSU01]

A question, more of a policy issue. In each of your chapters, has it been the responsibility of the National GLO to purchase the real estate or chapter house for the given campus, or has that resposibility gone to the local and regional alumni, as well as current members? The reason I ask is because when i first arrived at college, it was understood that nationals supplied funding but, as it turns out, many don't, simply due to lack of ability to fund that type of purchase, due to low funds or failure of similar ventures in the past. It would be interesting to hear some differences in policy.
thanks

[LexiKD]

I would assume that it all depends on the campus and situation.

I hear more fraternity alumni buying houses than sorority alumnae. In fact I don't think I have ever heard of alumnae that own a house, unless it is a house corp.

[Kevin]

Mostly I've seen "House Corporations" that are controlled by Alums (I'm helping set one up right now). Basically the alums sign THEIR names on the loans to buy a house and the corporation and its officers are the sole proprieters of the house.

The house manager/treasurer/pres would all report to the house corporation. They get the say-so on what happens in the house and are essentially charged with making sure their credit doesn't get ruined -- alums that are financially tied to the survival of the chapter.

I've heard of some national offices keeping building funds and buying realestate -- essentially controlling very large houseing corporations. Most places don't do that because it makes the entire organization somewhat unstable.

Hope that helps.
LHT,
Kevin

[shadokat]

I would question whether there is a real need for your chapter to have a "nationally owned" fraternity house. For instance, do the other chapters on campus have nationally owned houses? Is housing essential for survival on campus?

I don't know how fraternities work, but with sororities, it's really an issue of is the need for housing there. At large schools such as UGA and U of Florida, we have nationally owned houses, and those houses are there because ALL sororities have houses on campus, and it's the way the campus works. At Rider University in NJ, campus gives each GLO a small dorm (it really is enough for about 50 people), and that is their housing. It has a kitchen and living rooms and all that great stuff, on top of a ton of bedrooms and bathrooms for the members. While the property is lived in and kept by the GLO, the university technically owns it. Our chapter has been in their house for the better part of 50 years.

Hope this helps a little. I would contact your HQs and see what their take on your situation is, and also contact alums from your chapter and see what they would like to do to help.

Good luck!

[FuzzieAlum]

I hear more fraternity alumni buying houses than sorority alumnae. In fact I don't think I have ever heard of alumnae that own a house, unless it is a house corp.

At UDub the AXD house is owned by a wonderful alum - she and her husband purchased it when the chapter was recolonized years and years ago. Now the Corp Board is buying it from her.

[Tom Earp]

While LXA has gone through many Property Changes, theold days, the house if folded, the International took over the property! The Fraternity made loans to Chapters to build Houses!
The last was U Arkansas!

We have started a LCAP or a group of Alums who volunteer their time to work out Financing and give loans for things such as fire safety! The Reason being that the Insurance costs have become so high! We used to Insure the Fraternaity through Lloyds Of London! Well unless you are blind, they got in financial straits! Now we do our own Insurance payments , they keep going up! Hell what Insurance Co. wants to insure a bunch of damn Kids?

We are looking at a 700,00.00 $ new house! That is just building, not furnishing!

Now many Schools own the House that We live in and dictate how we live!

My chapter property is owned by th House Corp who over sees the financing!

If you are not the driver of your own destiny, then what?

Yes we own a heck of a piece of Property but with a shit house on it, We are trying to build a new house! It takes a lot of money to do this and if you do not have dedicated Alums to place a large porotion of cash in you are in trouble.

I have always thought, you are the destiny of your chapter, do not give up control of it to someone else!

Well, Iam out of this now! NUFF SAID!

[Corsulian]

Our nationals recently began Phi Sigma Kappa Properties as a real estate-focused arm of the fraternity. I'm sure there are similar organizations out there.

The individual chapters still vary widely in how they deal with this. Sometimes there are alumni clubs that function as housing corporations, sometimes the housing corp is a separate entity, and many groups just rent.

[Xidelt]

This is a 7 year old bump!