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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…
'What Renters Want' with Jessica Fiur: How to [Not] Silence Negative Reviewers
In college, I could eat an entire pint of Ben and Jerry’s Chubby Hubby in one sitting. (I took the Freshman 15 as a challenge, which I totally won.) It’s been years, but if I ran a few miles and skipped a few meals before, I bet I could still do it. But just because I could eat an entire pint of ice cream in one sitting, does that mean I should? Yes. Ice cream is delicious. Bad example. How about this: Just because I could sing all the words to Livin’ on a Prayer, does that mean I should? No,…
‘What Renters Want’ with Jessica Fiur: The Super Bowl and Preventing Subleases
This year, the Super Bowl will be held in East Rutherford, N.J. I live in New Jersey, not too far from there. So this news has produced a wave of emotions in me: apathy, indifference, boredom, hunger and just a smidgen of all-consuming rage—all the local restaurants are going to be packed near game day, and that traffic that Jersey is famous for (along with Bon Jovi, The Boss and smelling like a garbage barge) will be even worse. And apparently I’m not the only one who has a problem with the Bruno Mars concert with a side of football….
Guest Blog: Strategic Buying in Today’s Market
By Matthew Heslin, Principal & CEO, Oak Coast Properties The apartment sector continues to perform. Despite high levels of activity and increased competition for acquisitions, opportunities still exist for savvy investors with appetite, insight and sound strategy. For players looking at both short- and long-term hold strategies, quality acquisitions may still be found in both suburban and urban markets across the country. Apartment buyers of existing product should focus on key variables when evaluating potential acquisitions, and these will apply across opportunities in both metropolitan and suburban locales. Properties located in sustainable growth-oriented markets will always offer investment benefits. A…
‘What Renters Want’ with Jessica Fiur: Quit Being a Baby: What to Do When Neighbors Complain About Crying
Do you know what’s adorable? A baby. You know what isn’t adorable? Channing Tatum. (Seriously, someone tell me what the appeal is. I mean, he’s certainly not ugly, but still, meh. Give me Collin Firth any day, amiright, ladies?) Oh, and listening to a baby crying. Crying babies are certainly not adorable—just try sitting next to one on an intercontinental flight. Or living next to one. Have you heard about the So, as a property manager, what should you do if your residents complain to you about their neighbors Ferberizing their baby (or if they just complain about a crying…
‘What Renters Want’ with Jessica Fiur: Security vs. Privacy: The Great Apartment Debate
It’s important to know who’s coming in and out of a building. That way, crimes can be prevented, and if they do occur, they can be solved more easily. No one wants to live somewhere that isn’t safe. But does everyone need to know everyone’s business all the time? According to an article in The New York Times, after some burglaries at fancy buildings in Manhattan, property managers are considering installing more security cameras throughout the buildings, on top of whatever security measures they already have (doormen, cameras just in common areas, laser mazes, etc.). The issue, then, of course…
‘What Renters Want’ with Jessica Fiur: What Should You Include in Your Apartment Marketing Photos?
Think back to your Internet dating days. (Don’t give me that look. You can admit it—we all did it. And if not, you totally know someone who is currently using an online dating service.) Profiles that had spelling and grammar problems were bad. Ones that mentioned a love of country music were worse. But the absolute deal breaker? A profile with no picture. That profile could be for a multi-millionaire rock star with chef-quality kitchen skills who can quote The Simpsons, run marathons and reach things on the highest shelf, all the while volunteering with orphans on the weekends, but we’d…