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Posted by on in Construction and Development
At this point, property managers know the drill when it comes to millennials: they rent more than any other generation and high-tech amenities play a significant role in their decision of where to live during their apartment search.   While it is undeniably true that the younger generation of renters desires cutting-edge electronic features in their apartments, it is important that multifamily managers and developers avoid neglecting other important millennial lifestyle trends which have an impact on non-technological aspects of apartment design. At Trimark Properties, we specialize in selling Gainesville apartments to millennial student renters attending the University of Florida and have familiarity with the younger generation’s preferred choices of apartment design and amenities. Below are 4 recent movements in millennial living that have impacted features other than technological amenities in apartments. 1.) Millennials’ healthier lifestyles and participation in eco-friendly movements have led to more outdoor amenities. Millennials have been leaders of the pro-health, environmentally-friendly campaign, which has ultimately directed property developers to add more exterior amenities than in previous years. Millennials are increasingly valuing outdoor amenity space, spending 5% more of their time outdoors today than in 2015. They are also now frequently choosing to bike, walk, and ride the bus instead of driving cars. The average millennial drove 23% less in 2009 than in 2001, the biggest drop for any age group. Property developers targeting this audience have taken note of this trend, and they are now beginning to build properties close to central locations such as universities and major business...

Posted by on in Construction and Development
The key to success for multi family building investors is to adopt a strategy that helps them control operation costs, and take steps that add value to their business. To achieve this objective, many multifamily construction companies opt for green certification program, that helps investors minimize the tax burden and add value to their property. Green certification allows multifamily housing investors get returns on their multifamily rental construction and development projects. To help, the post discusses some factors you must consider when choosing a green certification program. Take a look. 1. Certification Cost  Most certification programs, with the exception of Energy Star, involve some amount of fee for the certification. The verifier or the rater involved in the process also charge some fees, which usually varies from $ 100 to $ 400 per unit or more depending on the number of units, the need for allied (testing and consulting) services, and the number of site inspections. You may also have to install extra HVAC units, and opt for advanced air purifying systems for your multi-family housing property, along with some paperwork that may add to the total certification cost. It is, therefore, advisable to do a little homework about the fees involved in the process of green certification.  2. Experienced Contractor   To meet certification requirements, you need to complete an extensive documentation process and may also need to bring several changes to your building’s layout. Opt for a program that most experts in your contractor’s team have already worked on,...

Posted by on in Construction and Development
Construction of both multi-family and commercial facilities is a complex process. These projects demand a lot of cost and labor, which makes necessary for investors to hire a professional pre-construction planning services firm. The pre-construction planning services help you to lay a groundwork for a successful construction project. The process usually involves checking feasibility, identifying potential issues, defining the project scope, site planning, determining time and cost requirements, and project scheduling. The data gathered during the pre-construction process helps the project and the investors in many ways and some of those benefits are discussed in this blog post. Read on. 1. Helps Define a Clear Vision You embark on a new construction project with an idea or a vision, however, to make it a reality you need to share it with your contractor or anyone working on the project. The pre-construction process includes defining the scope, scheduling and planning, and all those things that will help you draw a clear picture for everyone to see and follow. 2. Helps Determine the Feasibility While an idea may be rated as good, it may still not be feasible. Based on the project scope, site constraints, and similar other factors a feasibility study and constructability analysis is done. The preconstruction process provides all the information that is required to determine the feasibility of your project. It helps examine the possibilities and alternatives of an idea. 3. Helps Estimate the Fund Requirement Pre-construction services also include estimating the cost requirements. This helps investors plan and...

Posted by on in Construction and Development
When it comes to investing in residential real estate, investors have two options: single family and multifamily properties. Investing in a multifamily property is the preferred choice for real estate investors who are looking to make the most of their money, and those who are looking for a steady source of parallel income. There are several benefits of investing in multi-family residential units, which give you all the right reasons to put your money down. In this blog post, we discuss four such reasons to invest in multifamily housing units.  1. Increasing Demand One of the reasons for investing in multifamily housing business is increasing demand. As young adults are now more inclined than ever to live an independent life, multifamily housing units emerge as an obvious choice for most house hunters. In addition, given the economic volatility, an increasing number of people are now looking for affordable housing options without having to  compromise on the essential, which is another reason behind the increasing demand. 2. Flexible Finance Options Though the cost of acquiring a multi-family housing property is more than a single family unit, it is a lot easier to raise money for it. Securing a bank loan for multi-family properties is a lot easier because these properties generate a strong cash flow every month. Unlike single-family properties that become 100% vacant as soon as the tenant leaves, multifamily properties still have rent coming in even if some units stay vacant for a couple of months. 3. Easy to Invest...

Posted by on in Construction and Development
Emergency Orders Can Have A Silver Lining for Property Owners and Developers CapasGroup Realty Advisors, in collaboration with zoning and land use attorney Drew Melville of Melville Law, PA is pleased to share the following discussion explaining how property owners can easily extend their real estate entitlements and permits.  To our surprise, many property owners are not aware of their statutory right to these extensions.  If you are a developer or own property with permits or other entitlements, please read this article and keep it on file for future reference.  For more details, please contact CapasGroup, Melville Law or your zoning attorney. Under certain circumstances, the Governor of Florida will issue an Executive Order “EO” declaring a state of emergency “SOE” for specific counties or even for the entire state.  In Florida, SOE declarations most commonly occur in advance of tropical storms or hurricanes but can be in response to other threats as well. Recent examples include SOE’s issued related to Lake Okeechobee discharge and even the Zika virus. To enable property owners in affected areas to focus on the emergency at hand, Florida Statutes makes certain entitlement and permit extensions available whenever a state of emergency is declared.  Property owners in affected areas can typically extend their entitlements for at least eight months, sometimes longer.  The process is relatively simple, inexpensive does not require an approval process.  Essentially, all property owners must do is notify the appropriate regulatory agencies of their intent to exercise their rights under the Section. How It Works Under Section...

Posted by on in Construction and Development
Whether you manage the finances of a large multifamily apartment building company or you own a small company that contracts work for specific multi-unit building projects, finding ways to save money is probably on your dreaded “to-do” list. Since prime building season is coming to a close (at least in the north), maybe it’s time to consider researching a new strategy that will help builders save money. A little reading could really go a long way, so stick it out and read through to the end; you just mind find that this strategy will get your budget back in shape. How do Builders Make Money? In short, there are certain professions that are more lucrative than others for two reasons; first, no one wants to do it, and second, no one CAN do it. But you can. And that’s how you make money as a builder. Yes, there are multifamily building companies that turn up left and right, but it’s the experience that really sets you apart from others. The more you have to show for previous work, the more money you can charge. And don’t worry about quoting the lowest price to land a project, because if a company or land owner hires you because you are the “cheapest”, well then they are probably not the type of people that you want to work with. So, after getting a little background out of the way and without further ado, let’s delve into the one sure way that home builders can...

Posted by on in Construction and Development
At this point in time, the large majority of millennials have left the nest, graduated college, landed a steady job, and many have even chosen a lifetime career path to follow. But it’s no secret that choosing the home of their dreams may come later in life. It’s about that time when millennials are searching for a long time home that will meet their housing desires and provide a number of features that some baby boomers would turn their nose up at; and possibly for good reason! Millennials have grown to appreciate a number of crazes that just didn’t exist before the 21st century. Here are a few things to keep in mind when researching how to design an apartment building for millennials: 1) Modern design A simple rule to follow when designing an apartment building that targets millennials is to keep the design modern and simple. This is often defined by straightforward modern art pieces, large windows allowing a significant amount of natural lighting into the home, clean-lined architecture with almost over exaggerated asymmetry and right angled corners, bold colors such as white, silver, gray, black and red. Open floor plans are also sought after with high rise ceilings, giving a free, accessible feeling at all times. 2) Innovative amenities Millennials may not have as much time to party as they once had, but the occasional (or weekend) gathering with friends is often desired. A modern pool and patio gathering area, a lobby restaurant and bar, a member with guest...

Posted by on in Construction and Development
Just how important is it for real estate developers and property managers to incorporate sustainable design elements into their buildings? According to renters, very. With rising energy costs and the world’s water quality quickly declining, reducing our carbon footprint has become an immensely important issue in today’s society. Unfortunately for real estate developers and property managers, the largest culprits of energy absorption are buildings. According to the United Nations Environment Programme, buildings account for almost half of the world’s energy expenditures, 40% of greenhouse gas emissions, 25% of the earth’s drinkable water, and in developed countries, over 20% of all solid waste produced. Due to discouraging statistics such as these, it is becoming critical for architects and real estate companies to integrate energy efficient features into their design in an effort to minimize destruction of the environment and reduce energy usage. This is especially important for larger structures, such as multifamily properties. Renters are also becoming aware of the necessity of green design in construction and are progressively requiring more eco-friendly components in their housing. In the annual Resident Preferences Survey conducted by the National Multifamily Housing Council, respondents said they were willing to pay an extra $32.64 per month in rent to live in an apartment complex that has earned a “green building” certification. A total of 75% of those surveyed said they were “interested” or “very interested” in green certifications, which includes awards such as Leadership in Energy and Environmental Design (LEED) appointed by the U.S. Green Building Council....

Posted by on in Construction and Development
Bathrooms are a huge issue right now. (And not that there's always a line at the lady's room. That issue will never be solved, and also, I'm not a hack comedian from the '90s, although I can give it the college try—why do women go to the bathroom in groups? Do they need help putting on their lipstick? Something something. Uh, and women be shoppin', am I right?) Specifically, transgender people's rights to choose which bathroom to use. Some people feel that people should use the gendered bathroom based on the gender on their birth certificates. For example, North Carolina recently passed legislation on this. Others feel that people should be able to use whichever bathroom makes them feel the most comfortable. This probably isn't an issue that's going to go away any time soon. So what should apartment communities do, then? Read the full story: Should You Be Concerned About Gendered Bathrooms in Your Community?...

Posted by on in Construction and Development
Apartment signs are the first thing a prospective renter will see when approaching an apartment complex and will serve as a medium for communicating to current or possible renters. It’s important that the signs stay updated to make an impression, look professional, and is properly placed in a visible area. Taking these three steps will ensure possible leases and renewals. Here are 3 tips for apartment rental signs:       Place in a high visibility area Place apartment signs in a high visibility area, so it’s easily seen from someone who is walking, biking, or driving, so that they will have a clear way to see the information. Make sure bushes or other plants don’t block the view—even consider using landscaping lights so the sign is visible at night. Lastly, higher contrast, larger and bolder letter sizes help readability, similar to these signs from Camden Court apartments in Gainesville, FL       Apartment sign placement The placement of the sign is just as important as its visibility and they work hand in hand together. Placing the sign in front of the apartment complex or unit number will allow the connection between the two. Or consider adding a permanent sign that has the website and phone number below the property sign, if a potential renter has questions, they will know which apartment or property they are considering.       Apartment sign maintenance Maintaining the proper signs, as well as keeping them looking professional and new is key for good...