For the past several years, the multifamily industry has catered to the wants and needs of the Millennial generation, thinking of them as they update their community or add new amenities. When Millennials wanted to move into downtown urban markets, the multifamily industry responded by renovating empty warehouses and building high rises. When they said they wanted open-concept spaces, developers knocked down walls and gave them more light. And when they said they wanted to feel like they were living in an upscale hotel, multifamily developers upped their game in the amenities department, too.
The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain, such as: (1) when will students return to campus/will they return for online-only learning; (2) if or when will they sign new leases; and (3) will they require future “outs” or reimbursement provisions for similar future events.
As the COVID-19 outbreak continues to change our daily lives, it is crucial to keep yourself equipped with tools and strategies to help keep your business moving forward. As the impact of the pandemic continues to intensify globally, it is important that teams are managed well and that there is effective communication during these challenging times. Maintaining levels of productivity, collaboration, and learning among teams is important to keep business going as usual.
On any given day, you see cars stopping across the street from 1717 Second Street in downtown Sarasota, Florida – people admiring new twin, 20-foot murals. The murals adorn the white stucco walls of the multi-tenant office building. Throughout the day, people take selfies with the vibrantly colored pop art honoring medical workers.
We will look at the economic effects of this crisis:, what we should expect, what economic indicators we should watch, where’s the opportunity? There are many different ways that we see an immediate impact of this crisis on real estate and finance; — Commercial office demand. — Hospitality, Leisure and Retail space demand. — Housing supply and values. — Likely tradeoff preference for space vs. proximity. — More demand for warehouse and distribution centers.
As the world adjusts to the global pandemic caused by COVID-19, remote work has proven to be an effective strategy for offsetting the economic effects of the pandemic. Remote tools or work from home tools allow businesses to stay open and productive, without having to put their employees at risk for being exposed to COVID-19, also known as the coronavirus.
Join us for this morning conversation on Property Syndication Essentials. Ben Kogut, MBA CCIM; from HJH Investments will discuss what it means to syndicate a property, how funds are raised and the like.
For any given resident, lease renewal may be an annual event; however, for management and staff, retaining residents should be a top priority all year long. One of the best ways to retain residents is to keep them engaged. Creating an environment residents love and one where they want to live is about more than having fresh cookies or drinks set out in the leasing office. Rather, it is about nurturing those individual relationships throughout the year to create an inviting space that residents enjoy coming home to each day.
“On the wall of my office I have a quote from Calvin Coolidge, ‘Nothing in this world takes the place of persistence,’” shared Michael J. Carr Sr., a broker at Coldwell Banker Commercial NRT in Southwest Florida. “It’s what makes my business go, and what makes anyone’s business go. You just have to keep plugging away.”
Rick Locchead, LEEP AP BD+C of CBC Realty joins us for an interactive Q&A with Andrew Dorin, LEED AP BD+C from Cuhaci & Peterson Architects to discuss future architecture in Retail and Office space post covid-19.