Industry News | Wk of June 10
HOT & RELEVANT TOPICS
The Best Security Practices For Multifamily Employees
Ten real estate and leasing professionals were murdered in 2017 according to the Bureau of Labor Statistics. Then in January, Salt Lake City realtor Dave Stokoe went to his apartment community to evict a pair of residents but never returned. He was later found in the crawlspace of the apartment. With the rising prominence of these types of incidents, better security practices for employees are being examined. That includes the use of wireless security cameras, which are now more feasible since the cost of technology has come down. Read Joe Bousquin’s article in Multifamily Executive.
The Art of LEED Certification
Despite the numerous benefits of LEED Certification, apartment developers outside of select markets have been slow to adopt. While the green-building approach is prevalent in markets such as the Pacific Northwest, it is only recently catching on elsewhere. In Utah, for instance, the first LEED Platinum certified building just arrived in 2018. Apartment operators must consider cost, logistics, market and potential impact to the bottom line when determining whether to pursue certification. Read Sam Rodriguez’s article in Multi-Housing News.
The Role of Culture in Crisis Communications
Apartment operators hope they’ll never have to utilize crisis communications, but it happens. And when it does, the mistakes they make usually fall on either side of the transparency meter – they are either too transparent about the details surrounding the crisis or not forthcoming enough. Those that strike the balance of revealing pertinent details for public consumption without disclosing too much – or doing so too soon in the process – will have better success in surviving the potential hit to their reputation. Read Peter Jakel’s blog.
IN THE NEWS
U.S. Job Growth Cools as Economic Tensions Heat Up
After adding a tremendous 224,000 jobs in April, the U.S. Economy added a more modest 75,000 in May. The unemployment rate remained steady at a 49-year low of 3.6, although the number of unemployed Americans had a slight uptick to 5.9 million. Wage growth had a modest six-cent increase to $27.83 in May, although hourly earnings have jumped 3.1 percent over the year. Economist believes May’s tepid numbers will force a rate cut from the Fed in either June or July. Read Alcynna Lloyd’s article in HousingWire.
NMHC Unveils ‘Growing Homes Together’ Digital Hub and Resource Center
The National Multifamily Housing Council is stepping up its presence in the affordable housing sector with a new website – growinghomestogether.org. The site calls attention to creative policy solutions at the state and local levels to make housing more affordable for American families. The website, developed in conjunction with the National Apartment Association, is intended to highlight the policy approaches that have the best chance to effectively address the shortage while removing barriers to add new supply. Read the full article in Business Wire.
A-Rod Snaps Up His First NYC
Former Major League Baseball standout Alex Rodriguez, a keynote speaker at the 2018 Apartmentalize Conference in San Diego, has acquired his first multifamily property in the city where he used to star for the Yankees. The real estate maven/tabloid personality, whose significant other is singer Jennifer Lopez, acquired a 21-story apartment tower in Manhattan’s East Village. The deal, made in partnership with television personality Barbara Corcoran (Shark Tank), was for an off-market property in the neighborhood. The partners have yet to identify the specific property. Read Dees Stribling’s article in Bisnow.