Blog
‘What Renters Want’ with Jessica Fiur: The Futility of Marketing Apartments to Gen Y
“I used to be with it, but then they changed what it was. Now what I’m with isn’t it, and what’s it seems weird and scary to me. It’ll happen to you, too…” —Abraham Simpson, The Simpsons There are tons of articles about what Millennials are looking for in an apartment. You know the drill already. Come on, sing it with me: Wi-Fi, pet-friendly, areas to socialize, green. But everyone wants these things now, not just Gen Y. And, really, Gen Y is the same as Gen X were when they were younger, as were Baby Boomers. Just with better…
‘What Renters Want’ with Jessica Fiur: Gwyneth Paltrow, Cupcakes and Property Management
What do Gwyneth Paltrow and cupcakes have in common? They both make you feel really bad about yourself. Also, they are both have gotten themselves a lot of publicity recently (well, not the cupcakes personally, because they’re inanimate. Unless they have somehow become sentient, in which case I feel really bad about eating them) for being creative. Gwyneth Paltrow announced, via her lifestyle newsletter Goop, that she and longtime husband/terrible singer Chris Martin are “conscious uncoupling” (read: they are getting a divorce). And, it was recently announced that Sprinkles Cupcakes in New York City is putting in a cupcake vending…
Guest Blog: Where There’s Smoke, There’s Lawsuits: Navigating the Marijuana Maze
By Morgan Stewart, Partner, Manly, Stewart & Finaldi In response to the recent article by Multi-Housing News Senior Editor Jessica Fiur, titled: “What Renters Want with Jessica Fiur: What Should Property Managers Do About Legal Marijuana,” we have developed this piece, which addresses some of the other complicated legal implications for the multifamily industry about this confusing and complex issue. The trend by states to legalize marijuana for medical and recreation purposes while federal law still classifies it as an illegal drug is leaving many businesses confused. Lack of congruity between state and federal laws regarding marijuana is a growing concern…
‘What Renters Want’ with Jessica Fiur: What Should Property Managers Do About [Legal] Marijuana?
Residents’ prescriptions are none of their property managers’ business. And that’s probably for the best. When a resident comes down to the office to make a maintenance request, it’s better that the property manager doesn’t say, “Sure, I’ll fix that toilet [which you probably clogged up with your hemorrhoid ointment].” But what if that prescription is for marijuana? With marijuana being legalized in some states, this might be something property managers have to contend with, especially in smoke-free buildings. After all, you can make buildings smoke free, but no one has a prescription for cigarettes. Marijuana, legal or otherwise, could…
‘Accidental Economist’ with Jack Kern: Keeping an Eye on the Suburbs
“All my life, I never really felt comfortable anywhere in New York, except maybe in an apartment somewhere.” —Martin Scorsese I’ve been traveling a lot since the first of the year. I spent a lot of time in Denver, Los Angeles and Boca Raton in January. When I have time, I go around and look at units under construction or newly opened. There is quite a contrast between the apartments in these cities. I tend to gravitate towards newer buildings and find that there is a growing similarity between condos and market rate apartments. It used to be that there…
‘The Accidental Economist’ with Jack Kern: A New Kind of Renter
“I enjoy talking to you. Your mind appeals to me. It resembles my own mind except that you happen to be insane.” ― George Orwell, 1984 I happened into a Tokyo Joe’s to order some teriyaki and noticed that the young woman helping me was pretty much covered with tattoos, something I don’t see all the time. She was really nice, got the order right and when I commented on how colorful she looked, she told me that was what she was after. I walked away with a positive impression, not because I was going to have a gourmet lunch,…
Guest Blog: New Condo Development in Miami and Toronto Will Change the Way Properties are Managed
In many major North American cities, construction cranes have found a place back on the skyline as downtown core areas are seeing a rapid growth in development—especially the development of new high rise condos. With so much activity under way, the discussion among community leaders and real estate experts has centered on the impact that new construction is certain to have on local economies and urban infrastructures. As new residents arrive in downtown centers, the demand for additional businesses—from grocery stores and bank branches to restaurants and pharmacies—will surely grow, while at the same time the use of public transportation…
Guest Blog: With Temperatures Dropping, Interest in Energy Savings at Multifamily Properties Should be Heating Up
By Tal Eyal, FirstService Residential While winter made its official debut on December 21, the cold weather has been upon us for some time now and has gotten to extreme levels, including 20-year record lows across the country at the start of the year. For boards, managers and other key decision-makers at multifamily housing properties, the dropping temperatures bring a rising interest in energy saving strategies, and a renewed focus on negotiating better utility rates. Facing a host of pressing management challenges throughout the year tends to put the issue of energy efficiency on the back burner. But each year,…
Guest Blog: Peachy Outlook for Atlanta Multifamily Market
By Jake Reid, Senior Director, Franklin Street Much like the fruit for which Georgia is known, the multifamily market in Atlanta looks sweet for 2014. In 2013, we experienced a renewed investor interest in Atlanta’s multifamily market, fueled by an uptick in employment and an improving local economy. Between October 2012 and October 2013, 63,300 jobs were created, according to the Georgia Department of Labor. Highest rents ever Through new job creation and an increase in the quality of urban rentals, Atlanta experienced its highest rents ever in 2013. New urban product is being absorbed with higher rents and velocity…
‘What Renters Want’ with Jessica Fiur: Holiday Tipping at Apartment Communities
It’s that time of year. Doormen at residential buildings are happy to hold on to holiday packages, help with groceries and, of course, open the door. I mean, yes, that’s their job, but now it’s done with a smile. Maintenance requests are taken care of quickly and efficiently, no matter what hour of the night they’re requested. Yup, it’s holiday tip time! Many apartment community employees deserve these tips. And many residents are more than happy to give in recognition and thanks for their hard work during the year. It’s just that the whole tip-giving process is so…awkward…for residents. How…