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Top 5 "Kid Friendly" Amenities for Apartment Communities

Top 5 "Kid Friendly" Amenities for Apartment Communities
I recently posed a question to a group of developers...What if you started looking at your communities from the standpoint of children being the residents, instead of the adults? Now obviously, I'm not talking about a community where every unit is filled with slides and see-saws or kids roaming the grounds like Lords of the Flies. But it's a question to highlight what can be done if the primary motivation for the planning of amenity space, marketing and the overall feel of a community was done with children in mind.With 33% of all renter households (14.3 million) having minor children, it's an important question. And as more and more residents with children decide to rent instead of buy, having a true "family friendly" community can become a huge differentiator in the marketing and retention of tenants.So what would a community that is designed around the family and actual children look like?Onsite Daycare This may be a game changer when it comes to "family friendly" communities. One of the most significant issues for families is finding quality child care close to their residence. Having an on-site daycare within your community solves many problems for working parents and could be a tremendous asset to your residents. We see partnering with a local daycare to open in a retail section of your community or underused space. You get a great tenant that genuinely adds value to your community, and your residents get a one-of-a-kind amenity. On-Demand Babysitting With services like Care.com, you can set up a "portal" for your residents......
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Are You Aware Of the 7 Year Rule In Background Checks

I have found that many are not aware of the 7 year rule when running a background check so I wanted to be sure you are all fully informed. The 7-year rule states that all civil suits/ judgments, non-conviction arrest records, and paid tax liens can’t be reported in a background investigation after 7 years. This rule applies to every state in the U.S., some instances, states chose to take it even further with their regulations, such as in California, New York, and Kentucky, where non-convictions can’t be reported at all, except for pending charges. Most criminal convictions are not governed by the 7-year rule. (see this chart for some of the exceptions) Since the 7-year rule is a federal guideline it applies to all states for non-criminal convictions and to many states for criminal convictions, you may find that your background check provider will only provide information according to those parameters. People earning over $75,000 annually may see arrest information longer than seven years in the past included on their background reports due to a Salary Exception, but this also depends on the state. Before requesting the report from the agencies, employers are required to provide the applicant with a clear disclaimer of disclosure and obtain the applicant’s written consent of the query. The employer is also required to inform the applicant about the types of information that will be requested in the report. If the employer decides to take adverse action as a result of the report, they are requi......
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Top 5 Amenities Renters REALLY Want (and 5 they don't)

Top 5 Amenities Renters REALLY Want (and 5 they don't)
Everyone in the industry these days is talking about amenities. What renters want, what they don't, and what they will want in the future. The problem is, most developers aren't listening to the actual renters. Over my career, I have spoken with 100's if not 1000's of renters, listening to their wants and needs for a place to call home. Contrary to popular belief, not every renter is a millennial who wants a smoothie bar in their bathroom. The vast majority of renters have simple needs in a building or community when it comes to amenities. Real Closet Space When I say "real," I think we all know what we are talking about. Not the closets with one bar that can fit a shirt and jeans. We're talking about walk-in closets or ones with built-in storage. Renters these days are older or moving from established households and have more clothing. Many developers are "afraid" to take a portion of a bedroom to enlarge a closet, but I can tell you from first-hand experience, I think most of us would like larger closets and a smaller bedroom. More Storage This is a must-have for most renters these days. Unlike prior years, when renters were younger with very few things, today's renters are older and have amassed a lot of items. It's important to give residents enough space to make a difference, especially when units are small. I've never seen a renter say "I'm going to give up all my possessions so I can live in......
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How Real Estate Can Be Socially Responsible


Partners Joe Killinger and George Pino were recently guests of the "Lifetime Cash Flow Through Real Estate Investing with Rod Khleif" podcast. We've broken up the podcast into segments for convenience.

First topic of conversation is how #realestate brokerage can also be socially responsible.

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Congratulations to Alexandra Jackiw for Being Inducted into NAA Hall of Fame


When someone is inducted into the NAA Hall of Fame, they have surely touched a lot of hearts and minds along the way.  I can say from personal experience this is very true for Alex Jackiw.  Our community at Multifamily Insiders is driven by the community - those that are willing, able, and excited to pass on knowledge to others in the industry.  We are always being pulled in hundreds of directions with our normal, day-to-day job, so taking time away from that to help inspire and inform others is an amazing feat, and Alex has done that on several occasions within our community.  From our community at Multifamily Insiders, we want to say congratulations to you, Alex.  We appreciate everything you have done in our community and in the industry as a whole!  

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California will be Voting on Rent Control in November!

California will be Voting on Rent Control in November!
  On Friday the Secretary of State Alex Padilla confirmed that tenant activists have gathered enough signatures to qualify their state-wide rent control measure for the November ballot. With the fate of the Costa Hawkins Act in the hands of Californian voters, it is vital that rental housing professionals in California be vocal in their opposition.  The Potential Effects of This Rent Control Measure If passed, this rent control ballot measure (also known as “The Housing Freeze”) could: Allow rent caps on properties to be locked in place forever Open the door for rent control on single family homes and new construction Lead to lawsuits, as it unclear what constitutes fair market value Grant new powers to regulatory bodies to impose or modify rent policies – without public oversight Allow proponents to intervene in lawsuits with all their expenses paid by taxpayers – even if they lose While less than 20 cities currently have rent control regulations (with many activists aiming to put a rent control ordinance for their city on the ballot as well), repealing the Costa Hawkins Act would invite local governments to create their own rent control regulations. Owners with multiple properties in different Californian cities would need to be mindful of the differences in rent control regulations (with some cities tacking on “just cause” eviction regulations onto their rent control ordinances) as well. Although multiple tenants’ rights groups believe that rent control can help alleviate the rising rental rates in major metros across California, repealing the Costa Hawkins Act w......
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7 Low-Maintenance Ways to Boost Your Property’s Curb Appeal

  on 7 Low-Maintenance Ways to Boost Your Property’s Curb Appeal These days, most renters find their new home through online listings, not by driving around the neighborhood. However, that doesn’t mean property managers can afford to overlook curb appeal. If your properties fail to impress when a prospective tenant drives up, it won’t matter how good the online photos look. Even property managers in highly competitive rental markets should pay attention to curb appeal. A great-looking exterior doesn’t just get tenants in the door; it also attracts high-quality tenants who are more likely to treat your property with care and respect. Of course, if you’re managing a lot of properties or a single high-density property, you don’t have a lot of time to spend manicuring lawns and flower beds. So how can you create great curb appeal without spending a lot of time? These seven tips show you how. 1. Paint the Front Door Don’t underestimate the impact a fresh coat of paint on the front door can have. A cheery front door can make an otherwise unremarkable home stand out and leave passersby wondering what’s on the other side. A Blissful Nest recommends 10 hues that are perfect for front doors. In a multi-unit property, try painting each door a different, but complementary color to set the units apart. 2. Replace House Numbers Is that newly painted front door flanked by dated, faded, or missing house numbers? Make each unit easy to find by replacing house numbers with a new set that’s easy to read from the str......
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How Can Cities Address the Affordable Housing Crisis

A few weeks ago I wrote about the prospect of the repeal of Costa-Hawkins act in California.  This measure is being pushed by tenant rights groups claiming it will help with affordable housing.  Although I do believe there is an affordable housing crisis, I do believe that the repeal of Costa-Hawkins  would only be a short term relief and significantly hurt affordable housing in the long term.  So what can cities do to address the affordable housing crisis? Cities have many tools available to them, and if utilized correctly can significantly positively impact the affordable housing market.  It boils down to simple economics, if a developer can build affordable housing, and make money doing so, then they will.  How can cities promote the development?  It starts first with the approval process.  After the cost of land and actual hard construction costs, the time cost and soft costs are the highest expenses for a developer.  The city of Dallas did this earlier last year.  They passed measures to streamline the process to construct affordable housing.  By streamlining local administrative review of plans, and lowering the costs of permits they have made it easier for developers to develop low income housing.  With faster approval processes and lower costs affordable housing becomes that much more attractive to a developer.  Another benefit for streamlining the process is that it minimizes the risk to a developer, and like any other investment development is a risk vs. reward calculation, with lower risk translating to lower demand for r......
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What You Need To Know About Rent Concessions

  on What You Need To Know About Rent Concessions With rent concessions on the rise nationwide we need to have an understanding what giving or offering a concession can do to your property value if not handled correctly. Let’s start with the definition of a rent concession, a concession is any “reduction in price, rent or other benefit provided to a potential tenant as an inducement to lease your property”. There are many ways to give a concession, reducing the first month’s rent, reducing rents for a contracted time or maybe even upgrades the property they are considering ie: an accent wall or upgraded appliances. Your goal should be to have all scenarios have about the same amount of rent paid.  Also, if you can get a new tenant to accept an upgrade to the unit as a concession, it can be even more beneficial to you. What you need to consider as you are offering your concessions is how do these concession affect my long term value of my investment.  If you find yourself wanting/needing to refi and you begin the underwriting process you will find that lenders are interested in how much income an asset is producing and how much income an asset can optimally produce. Concessions add an additional layer to the equation. When underwriting the Net Operating Income of an asset, concessions are typically subtracted from the Gross Rental Income in order to determine the Net Rental Income — which also factors in things like vacancy and unpai......
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Why You Should be Wary of Californian 'Just Cause' Eviction Bill AB2925

Why You Should be Wary of Californian 'Just Cause' Eviction Bill AB2925
A bill that would require California property owners and managers to list a “cause” or reason to evict or terminate a tenancy has been progressing at an alarming rate. Despite being introduced in February, AB 2925 is scheduled to be heard on the Assembly Floor sometime next week. We urge you to review AB 2925, and join industry experts like the California Apartment Association and Contemporary Information Corporation (CIC) in opposing it. Introduced by Assembly Member Bonta and Coauthored by Assembly Member Bloom, Chiu and Senator Skinner, AB 2925 would prohibit a property owner or manager from terminating a tenancy (or seeking an eviction to recover possession of a property after the lease expiration date) without a “cause”. The following does not constitute a cause that would legally allow a termination of a tenancy or eviction: A change (or anticipated change) in property ownership A property foreclosure The expiration of a fixed-term lease Many have fears that AB 2925 would enable tenant attorneys to challenge any termination notice sent to tenants. It also removes terminations for new owners, even if they want to move into the property. As currently written, this bill also fails to list what reasons do qualify a tenancy termination or eviction and relies entirely on local ‘just cause’ eviction ordinances. Beyond restricting property owners and managers' ability to terminate a lease, this bill specifically states that it wishes to “encourage or incentivize” cities across California to create their own ‘just cause’ eviction ordinances. Although AB 2925 is moving through the Legislature quickly, it’s still in the early st......
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