Great article Nathan. Couldn't agree more with Blanchard's technique. A lot of junior managers mista...
Cristina Fox
I have lived in Savannah Place for 3 years. It is in Boca Del Mar Boca Raton Florida. It is extremel...
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Posted by on in Affordable Housing

The President of the National Low Income Housing Coalition (NLIHC), Diane Yentel, released a statement last week in response to the Trump administration’s budget proposal, specifically regarding the previously mentioned cuts to (and of) key housing assistance programs at HUD. The official position of the NLIHC is “[the budget proposal] is the wrong approach. Mr. Trump and Congress should be increasing investments in affordable homes-not dramatically cutting resources”. Yentel and the NLIHC further implored Congress to reject the proposed cuts, should they remain a part of the final budget proposal, citing them as “unacceptable”. The statement put out by Yentel and the NLIHC also highlights Secretary Carson’s previous commitment to maintain existing HUD programs, and to refrain from any drastic cuts until an alternative program is created in its place.

Posted by on in Affordable Housing
Dear Gabby,  I know you have talked about the micro apartment trend before, but could you give us an update? Should they still be on my radar? I am not sure if my location will even be affected since I live in a smaller market. People here didn’t find out that Bey was pregnant until 2 days after her Instagram announcement for goodness sake! #ATrendyMultifamilyManager    ________________________   Dear #ATrendyMultifamilyManager ,  First off, where do you live for people to be that out of the loop? We had a celebratory toast at the office in honor of Bey’s pregnancy.  Second, thank you for the fabulous question! With new trends there is always the risk of it losing steam and becoming just another fad. With micro apartments, however, that’s not the case!  As I said in my last post, micro apartments mean something different to different people. Some think about their environmental footprint and opt to live in a smaller space to minimize their impact on the earth. Others choose the smaller unit because it is cheaper. They would rather sacrifice space than location, quality, safety, etc. Lastly, some people choose the space simply because it is trendy. No matter the reason, people seem to choose a micro apartment to serve a totally different purpose than a conventional one. On average, micro renters don’t stay as long, causing community to have higher turnover. That’s not to say that these communities are going to begin emptying out. More and more people (mainly young...

Posted by on in Affordable Housing
The multifamily real estate market in the US is on the rise for the past few years; therefore, the demand of affordable housing units is also steep. Though multifamily units have transformed urban living, large occupancy rates are posing diverse challenges such as energy efficient affordable housing and high utility rates, which are a definite threat to the environment. To curb wastage of resources and make living spaces eco -friendly, investors need to take a few measures. Continuing the discussion, the blog post discusses a few ideas to turn multifamily units more eco-friendly than before.  1. Invest in Green Zones A large number of multifamily occupants are millennials with a desire of lush green zones inside the units, where they can grow fruits, herbs, vegetables to nurture irrational passions. In addition, investing in solar panels for an uninterrupted power supply can also turn the property into an energy efficient affordable housing. Doing so can minimize the dependence of the building on conventional fossil fuels to generate energy, which is a boost to the eco-friendly initiative. 2. Focus on Water Conservation Conserving water is a vital aspect in multifamily units, in order to avoid the exorbitant wastage. Therefore, investors need to plan in advance and opt for low-flow faucets, high-efficiency toilets and timer-based irrigation and sprinkling systems to keep a tab on water usage in the units. In addition to that, investors can also consider installing systems to track water usage or arrange water conservation programs to assess the monthly efforts. 3....

Posted by on in Affordable Housing
Dear Gabby,   So I’ve been hearing a lot about these “micro apartments”...what exactly are they? Are people just okay with living in closets? I can’t imagine living in one room with my boyfriend...where would we go to get away from each other after fighting? That would be HORRIBLE!   #AConcernedGirlfriend   __________________________________________________________________________________     Dear #AConcernedGirlfriend,   First off, you may want to rethink living with you boyfriend if you’re concerned with “space”. My first thought, of course, is closet space…where would all my shoes go?! Anyway, to the actual point. Micro apartments are sweeping the nation...well at least sweeping the nation’s big cities. Some members of the architecture community and urban policy makers will tell you that these micro apartments are becoming popular because people want to create a smaller environmental footprint. If I’m being honest, I think the main reason they are popular is because there is an affordable housing crisis going on. People need a place to live but can’t afford the average rent in major cities. Now developers are creating really small spaces, putting a smaller price tag on them, and calling them “micro apartments” to make them “trendy”. They are even going as far as describing the units as “micro luxury”...puh-lease! Even if you do believe that the ultimate goal of these small spaces is for environmental reasons, micro apartments may not seem so trendy and fun once you think about it realistically. Your house or apartment is supposed to be a safe space for...

Posted by on in Affordable Housing
All rental properties that are considered low-income housing go through the process of standardized REAC inspections to stay in compliance with safe housing standards and the UPCS inspection codes. In order to remain operable, these properties much achieve a REAC score of 60 or above on the 100 point scale during each inspection. It can be an overwhelming and time consuming process to prepare your rental to meet UPCS standards and receive the highest possible REAC score. Many factors of the property are carefully examined to ensure the safety of the tenants, and failing to comply with HUD housing standards can lead to numerous additional expenses for your real estate business. Luckily, the development of digital property management software makes getting ready for a REAC inspection a quick and streamlined process! By saving you both time and money, these digital tools can take the guesswork out of ensuring your properties are up to UPCS code.  Stay ahead of the game by using digital inspection software to periodically monitor your properties.  Digital property management software is a game-changer when it comes to accurately evaluating your qualifying low-income housing rentals. ...

Posted by on in Affordable Housing
If you are looking for a safe way to invest in real estate, why not start with a multifamily property? There is a great need of multifamily units in the U.S., specifically because there has been a higher demand for multifamily property and the real estate market is finding it difficult to meet this surge. This implies that there are many advantages of investing in multifamily property. In this brief blog post, we discuss about the benefits of investing in multifamily property. Lesser CompetitionMultifamily housing has been here for a while but the competition is still less in comparison to other sectors of real estate. Lesser competition means better opportunities and profit for the investors. People tend to avoid investing in commercial property like multifamily units because it requires more work and comes with a huge price tag. The long term benefits that multifamily properties come with definitely overshadow a few negatives.Availability of Loan OptionsThere are separate loans for the individuals who want to purchase a multifamily property with up to four units. Investors can borrow more money as they can use the rental income to qualify for a loan. In addition to this, the owner-occupant loans have lower interest rates and lesser down payments as compared to the commercial property loans.Beneficial in Difficult TimesIt is true that income from a multifamily property can be of great help during unexpected events. It is an additional income that may be used to pay mortgage, medical bill or study loan. In addition to...

Posted by on in Affordable Housing
Multifamily properties are buildings that consist of more than 5 families. Budget conscious people take into consideration some essential factors like the cost of acquisition, rent or energy consumption when they look for a multifamily property. Many multifamily property owners look for energy savings options in order to attract more tenants and get better return on their investment. Energy efficient buildings is an easy way of reducing carbon footprints and lowering your energy bills. Let us now discuss 5 ways that can make your property energy efficient.Programmable thermostatsInstalling programmable thermostats with sophisticated controls allows homeowners to regulate the heating and cooling levels and thereby lower the energy bills. The good part is programmable thermostats aren’t a super-expensive investment. Multifamily property owners who plan to construct energy efficient buildings take into consideration the installation points during the construction phase. An affordable housing general contractor can help you out with deciding the installation points.Cool roofsIt won’t be wrong to consider installing cool roof, which has emerged as an ultra-modern concept especially among multifamily property owners. Such roofs are made of reflective material which doesn’t absorb much heat from the sun, keeping the house fairly cool during summers and thereby saving electricity costs to a great extent.Water heatersSimilar to thermostats, you can install energy efficient technology ridden water heaters that come with sophisticated controls. This enables the users to set the water heater at the lowest setting to ensure that there is no wastage of power. Energy efficient appliancesInstalling energy efficient appliances may prove...

Posted by on in Affordable Housing

A Significant Impact to Affordable Rental Housing

The state of New Jersey has introduced a bill that would significantly impact affordable housing across the state.  Senate, No. 1585 is seeking to establish guidelines for creditworthiness determinations concerning government subsidized housing programs.  The new restriction is intended to aide applicants who have poor credit history so their chances of receiving government assistance are improved.

Posted by on in Affordable Housing
The United States government states that anyone who pays 30% or more of their annual salary as house rent or mortgage is in need of affordable housing assistance from the local and federal governments. This means workers, minimum wage earners, students and fresh graduates along with people who have lost their homes to foreclosure can receive assistance. Multifamily investors need to understand their target audience and what amenities work for them. Who Needs Affordable Housing?Senior citizens, veterans, people with disabilities, and minimum wage workers, need assistance with housing. The income earned by these individuals is insufficient to pay the full rent for houses due to the gap between the rent and income earned by these individuals. This gap widens especially in urban areas and hence the requirement for assistance by the government. Factors That Influence the Tenant’s ChoicesPeople need housing; however, potential tenants avoid unsafe neighborhoods. So how to attract tenants and what are the factors that interest potential tenants? Here are some factors that influence how tenants look at multifamily houses:SafetyFirst, any age and demographic group looks for safety. Parents want safety for their children, so do working professionals. An affordable multifamily housing complex in a safe neighborhood automatically attracts tenants. Housing contractors can also guide about the safety features that are available and install them in the complex.LocationNo one wants to live away from the downtown area or a location that is far from the nearest transit point. At the same time, the closer you move to downtown, the higher...

Posted by on in Affordable Housing
Taking good care of your washing machine, and following a few simple rules, could prolong its life significantly, and reduce problems. Firstly, it is important to install your washing machine in a clean, dry location, which will not be subject to extremes of temperature. Installing the appliance in an outside shed, or garage will not be ideal, as it will be prone to damage from frozen pipes, dust, and vermin attacks. It is quite common for a washing machine in an outside location to be damaged by the residual water, or the water inlet supply pipe, becoming frozen. Equally damaging are attacks by mice and rats, which love to bite through hoses and cables, or burrow into warm places in the bottom of the appliance to make a nest. Secondly, keep the outside of your appliance clean, by wiping regularly with a damp cloth, using a small amount of detergent when necessary. Do not use abrasives, as these will damage the surfaces. Clean and dry inside the washing machine drum and door seal after use, to prevent build-up of damp and mildew. This is a frequent problem, which leads to discolouration of the door seal, and eventual marking of laundry. Do not use excessive detergents inside the machine, as this will cause over-foaming during use. If possible, and safe to do so, the door should be left slightly open between uses, but this is not always possible if children are present. It is more important to be safe than to observe this...