Construction and Development

An Educational Series for Apartments, HOA’s and Co-Op’s: Part II “Pure Internet”   Pure Internet, the refreshing, no hassle experience of fast, fiber backed“Internet That Just Works”. It flows like the crystal clean rivers in the Glacier Mountains, unpolluted by the impurities of the big cities. It rushes to its destination, shimmering off the rocks with a turquoise clarity. Pure Internet is an unadulterated network of low latency paths, moving data directly and efficiently to its endpoint. Traveling unobstructed by bottlenecks or inefficiencies; safely and securely arriving to its destination.  The pipes are bountiful, clean and safe; the obstacles that litter most networks have been removed. The end-user is left with a great sense of freedom, ease and gratitude from the Internet experience, so much so they may even begin to take it for granted.    In contrast, in part one; we discussed the current “Dirty City Water” Internet experience that most Americans are accustomed to. In short; you have been sold Internet speeds that are not really speeds at all but rather capacity, on an oversubscribed network.  Speeds that are asymmetrical, transmitting over antiquated wiring technology, first used 100 years ago. You have “hired” yourself to configure your network, trying desperately to fend off dirty data and professional hackers with an over-the-counter router. You call for support and reach your, “not-so friendly” monopolistic ISP who has no financial incentive to improve the situation. For an “arm-and-a-leg” they promise they will give it their “best effort”; however they seem to be having a hard enough time fix......

Gutters and downspouts are the unsung heroes of your property’s exterior. Although many property managers worry about keeping their roofs in good condition, they don’t always pay as much attention to their gutters and downspouts. That can come back to haunt them because of how important gutters and downspouts are for protecting a property from water damage. Out of all the components that make up a property’s exterior, gutters may be one of the most important. What that in mind, it’s important for property managers to understand how the style and construction of the gutters they choose for their property affects the level of protection they receive. The average downspout can direct as much as 12 gallons of water away from a property during a 1-inch rainfall. That’s 12 gallons of water that otherwise could end up pooling around the building’s foundation, seeping into tiny cracks where it will expand and damage the foundation as it freezes in the winter. Those 12 gallons of water also could end up getting under siding and causing mold and mildew growth without gutters and downspouts to direct that water away from the property. Although it’s certainly important for property managers to have their gutters cleaned and inspected by professionals on a regular basis, they also need to be aware of how their gutters will stand up to the rigors of protecting their homes. The shape and materials of gutters and downspouts all have distinct advantages and disadvantages, and they may impact how often they need to b......

The fight to end homelessness in this country is a massive undertaking. About 3.5 million Americans experience homelessness each year, according to the National Law Center on Homelessness & Poverty. Alleviating this problem in a meaningful way will surely require a multi-faceted effort involving federal, state and local governments, non-profits and the private sector. Here's one possible component of the solution to this giant issue: tiny homes. Across the U.S., organizations are using tiny houses and apartment homes, which typically range from 100 square feet to 500 square feet, to provide shelter for the homeless. For instance, the nonprofit American Family Housing recently opened Potter's Lane, a 16-unit community in Midway City, Calif., to house homeless vets. The property features 480-square-foot apartment homes made from energy-efficient shipping containers. Across the country, in Newfield, N.Y., the nonprofit Second Wind Cottages, relying heavily on donated materials and volunteer labor, built a community of 12 tiny homes that house homeless men. Residents pay rent as they are able to help defray the community's operating expenses. Other examples of similar communities include the Tiny House Village in Seattle and the Community First! Village in Austin, Texas. Advocates of these developments note that they are comparatively cheap to build, and constructions costs often are further mitigated through the use of materials and labor supplied for free by area businesses and residents. Can the multifamily industry incorporate tiny apartment homes for the homeless into their communities? It's certainly something to think about. With its ample resources and......

How to Fix Bad Cell Phone Coverage for an Apartment Complex? Carrier Grade WiFi Calling for Apartment Buildings is Finally Here. “Can You Hear Me Now?” “Can You Hear Me Now?” It’s happened to everyone. You’re locked in, completely engrossed in conversation. All of a sudden a little static begins on the line. Then a bit more and before you know it, you have missed every other word. Eventually the call drops completely… You look at your phone to find that you have no service, 0 bars. Hopefully, it was just friendly banter and not something vitally important. God forbid that it was an important sales call or a hard-to-reach individual. We’ve all experienced bad cell coverage and while it’s a pain, hopefully it only happens once in a “blue moon”. We may expect it while driving through a rural landscape, but if it happens from home; it’s an entirely different frustration. If you’re an apartment owner with this scenario you can rest assured… your residents will quickly be finding a new place to live, costing you and your brand. Let’s face it, not all apartments have good cell coverage. These days this can be a major problem for apartment owners. Bad cell coverage can drive occupancy, loyalty, satisfaction and retention down fast. Residents do not put up with bad coverage; many will post negative online reviews which could damage your online reputation. Some may try to change cell providers; however, they are not usually happy to do so. WiFi Calling Replaces DAS – “Two Birds, On......

1.        Compressed cap rates in major markets; Large companies are now starting to compete in the secondary markets showing interest to explore investments outside of traditionally hot core.  As rents and sales prices at those core markets are reaching a plateau, investors seem willing to entertain slightly lower returns because of the reduced risk profile associated with not chasing top of the market rents or sales price.  This makes the middle market investors relationship with local Brokers and governments along with extensive market knowledge an advantage to this new competition.     2.       Development vs. purchasing value add properties; As construction costs rise faster than rent growth, redevelopment and rehabs ROI analysis plays a key role in determining value of acquisition.  Urban infill projects close to employment hubs and rapid public transit markets have faster rent growth, where the secondary or tertiary markets show better ROI with light renovations or rehab program.   3.       Value add opportunities are very diverse; From interiors to common areas, owners are getting creative.  From common area repurposing to creating four-bedroom student housing out of conventional two bedroom properties.  Dog washes, common area coffee bar lounges get repurposed from traditional clubhouses and utility closets.  More thought is put into bringing the luxury amenities to vintage properties.  Unused common areas turn into useful space for residents at a very low cost.    4.       Diversify Real Estate; A growing number of middle market owners are purchasing manufactured home parks, student housing, creating property management support software, single family homes......

When purchasing a multifamily property, you must earmark separate funds and time for a due diligence project. Professionals at residential due diligence management companies use a specialized multi family due diligence checklist based on their past experiences to ensure value for money for their client. This post discusses a multi family due diligence checklist, to explain the process and help potential investors understand the elements they must focus on when buying a multifamily property. Take a look. 1. Inspections to Detect Environmental Hazards  Environmental hazards lying around the property can be a substantial health risk to occupants and may also invite harsh penalties and troublesome litigations. To help their clients avoid this problem, providers perform a detailed environmental inspection that includes locating and reporting asbestos containing material, lead based paints, and PCB containing materials. The provider must also go through the property’s layout plan to locate underground fuel storage tanks, waste disposal units and dump sites, inspect them and include recommendations in their final report to minimize contamination risks.2. Inspections Centered on Inspecting the Exteriors   It is important for the provider to inspect the building’s exteriors to ensure the layout conforms with the building codes. The professional must look for hazards such as uneven sidewalks, faulty wiring, improper lighting, sharp and hazardous equipment lying around unattended, and malfunctioning doors, windows, and walkways. The provider must also check for and report inconsistencies such as damaged roofing, misplaced trash containers, and inadequate drainage. 3. Inspections to Check the Condition of Mechanical Equipment The pro......

What sustainable innovations not only save money, but also enhance resident, community, and employee engagement?  This NMHC panel discusses how sustainable innovation drives better environmental outcomes, but also financial outcomes for multifamily properties.  Watch the video below.

“Gigabit Fiber” or “Fiber to the Unit” (FTTU) is now an easy, affordable and revenue-generating way to provide Internet access to most apartment complexes. When the service is done right, the benefits include profits, resident attraction, brand recognition, loyalty, retention, and new marketing capabilities. Often missed are the cost savings found in the overall construction outlays; redacting the antiquated wiring expenses from the buildout are now possible. Properties can go ALL FIBER for their telecommunications needs. Additionally, Gigabit Fiber creates an infrastructure which is “future ready” and allows for a whole new realm of ancillary add-ons.  This concept is often thought of as the Internet of Things (IoT). Allowing apartments to bridge the gap between a temporary living environment and the long term comforts of a futuristic home intrinsically can shift the residents overall satisfaction. Millennial and remote work populations are on the rise; just the mere mention that your apartment has fiber is enough to have residents and prospective residents clamoring. Why Gigabit Fiber? If you are the end user (resident) this question is rather easy to answer. You want the fastest, most reliable speeds available.  Fiber provides this. Further, you are sick and tired of antiquated DSL and cable Internet options. If you are an apartment owner it boils down to 4 things: 1) Profits (Recurring and Intrinsic) Fiber and other high-end Internet services like Fiber Backed WiFi,offer the real possibility of monthly recurring profits that can be entered into your balance sheet as “Internet Income.” Selling quality Internet services to you......

Instead of giving you my thoughts about this, I'd like to hear from you all.  What do you think about this mixed used development that used emoticons in the design?  Don't be shy - share your opinion below.

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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 are......