Q3 2013 Multi-family Report Bolsters Investor Confidence

Because of the government shutdown, figures for the third quarter of the year have only unofficially declared what has long been expected: the multifamily market continues to trend upward. Quarterly reports, recently released by a private research firm for the 2013 Q3 multifamily market, show sustained strength. Key indicators demonstrated that vacancies in pre-existing units are stable at capacity, while new developments filled rapidly. The 95.4% occupancy rate in the top 100 metro markets, coupled with an increase of 1.2% in the quarter for effective rent on new leases, signals…

Apartment Market in the Long Game

We might suggest that 2014 will not outperform the success the apartment industry has enjoyed in recent years but it will still prove a good year.  Reasons for a slight slowdown in the shinning performance of recent years are: Delivery of new Class “A” product – 231,000 units in top 100 markets – largest level of completions to come online in quite some time. Job growth has not kept pace with rent increases – making it difficult to sustain aggressive rent increases Analysts expect average vacancy to fall by 40…

Disaster Preparation – Risk Management for Facilities Management

By their very nature, disasters are unforeseen and inevitable, but that doesn’t mean that you can’t take proactively take action to avoid or minimize the impact they may cause.  Countless businesses succumb to catastrophic failures each year, losing valuable operating time, assets, and customer support in the process. Minimizing the effects of a flood or power outage can mean the difference between a temporary hiccup in the day and closing the doors for good. There are three simple initiatives you can follow to avoid and diminish the damages incurred due…

Retrocommissioning: Maximizing The Efficiency of Your Existing Facility

Inherent in the operation of every kind of real estate holding are utilities costs. These expenses – water, heat, and electric – can be delivered as needed, but strategic measures are able to deliver them at a reduced cost.  Enter retrocommissioning. Retrocommissioning (commonly known as “RCx”) is the process by which the operators of a building analyze the current rates of efficiency, establish a desired rate, and implement changes to bridge the gap. Not to be confused with retrofitting– replacing outdated equipment, retrocommissioning focuses on improving the efficiency of what’s…

Multifamily Market Analysis – Rent and Vacancy Rates

Submitted by S. Laraby No predictive analysis is complete without a return to the data.  How did we do? If you have been following our blogs which offer commentary and analysis of the spectrum of commercial real estate matters, you may know that we regularly comment on the current and future state of the multifamily market, particularly rent and vacancy rates.  Our multifamily analysis began in with a blog commenting on the stability of multifamily investments, particularly during uncertain economic  times,  “Economy Wobbles but Multifamily Remains On Course“.  The stage…

Seasonal Maintenance Checklist

Submitted by P. Barry For many, the winter months are filled with holiday cheer. For facilities managers, the winter months are filled with challenges. Maintaining the condition of the property under the most adverse conditions requires hard work, attention to detail, and a little luck. Take a look at the list below to see if you’ve covered some of the essential preventative maintenance tasks necessary to keep your property in top shape for seasons to come:   Patch Parking Lot Cracks -Patching cracks before winter strikes prevents water from seeping…