Apartment rent is on the rise in some cities, but stagnating or even falling in others...and not necessarily where you'd expect. In fact, there are some major urban markets where rental growth is either slowing or rent has even dropped, while in some smaller markets rent is skyrocketing past huge cities known for the high-cost of living. Where will renters catch a break and where will rent break the bank? It boils down to construction delivery and how close those smaller cities are to their big city counterparts...
The eastern corridor of Muncie stands to change dramatically from the early 1900s when it was owned by Indiana Steel and Wire. In 2015, it was purchased by Kitselman Pure Energy Park and the plans are underway to dramatically transform the property that has sat run-down and decrepit for many intervening years. The high price tag on the project will bring with it impressive improvements for the entire city; hopefully sparking further development by upgrading an area that was formerly down and out.
Carmel, Indiana is a city north of Indianapolis that is home to an impressive performing arts center and maybe best-known as “land of the traffic roundabouts.” Carmel Mayor Jim Brainard is relying heavily on city bonds and betting that by going deeper in debt that the city will come out ahead in the end. Bonds have paved the way for major improvements already, so what is next for this city near the state capitol – or are they extending too far?
The Amazon acquisition of Whole Foods is big for a lot of reasons: it could be a game-changer in the grocery industry, it's a smart play by Amazon, and Whole Foods needed the deal. Yet what does this massive merger mean beyond the grocery aisle – specifically for real estate investment? We looked into the big business deal on the block this week and how it might shake down for investors.
Many property owners who decide to take on the mantle of land-lord undertake this job not knowing the work load, stresses, and issues they may face. There can be many benefits to hiring an experienced property management company which can result in greater success for the would-be landlord and his/her rental properties...
There are different factors at work when it comes to resident retention. So what is it that determines who, where, and why leases get re-signed? We found some interesting data in this Forbes article and boiled down the basics. Across the country, with more renters re-signing their leases instead of deciding the grass may be greener somewhere else, there are a lot of variables.
Millennials are a demographic profiled for everything from their influence on current fashion trends to their effects on the workplace; however, understanding exactly how this group will impact the real estate market is still developing. Early on millennials seemed poised to become entrenched inhabitants in upscale urban apartments, but time is showing millennials may not be so different from older generations when it comes to housing trends.
Millennials are proficient in technology, highly educated, they challenge boundaries, they have the ability to multi-task and refuse to be complacent. This nontraditional generation is followed close by Gen Z whose core values are not that much different than those in Generation Y. Whether a company is hiring or marketing to these powerful generations traditional tactics are no longer effective. These generations have not only grown with the tech industry but have inspired the tech industry. This relationship creates new opportunities for companies to expand their definitions of marketing and become more creative.
The May employee spotlight shines on Tana Bell! She is the Leasing Consultant for Oakdale Square Apartments in Bloomington, Indiana. Tana brings 12 years of property management experience to BAM. BAM is excited to have such an amazing and dedicated professional joining the BAM Family. Learn More about Tana!
I went to Anderson University and majored in Finance. I have worked in public accounting for a few years and then moved on to the real estate world by working at Kite Realty Group and then RealAmerica Development. I love the energetic atmosphere here at BAM. It is one of the main things that drew me to the company. I also love that we can all be informed and working towards a common goal to help the company operate and grow as efficiently as possible.
“Customer relationship management is a necessity, but many platforms fall short.” The sheer wealth of choices in the CRM industry is a point of pain for many companies looking to start tracking their customer relationships. “There are nearly as many relationship management strategies in this industry as there are real estate professionals.” Several industry professionals have customized their own CRM systems by picking and choosing the aspects they like from several different sources. DIY combinations of Microsoft OneNote and Google products has alleviated some of the stress associated with navigating the minefield of CRM.
One bad online review can undo all the good you’ve done. Digital marketing strategy firm Convince & Convert insists that reputation management should be every company’s top marketing priority. “What people say about your company online has become the single most important reflection of your company’s quality, reliability, and skill.” Read on for tips on how to manage your company’s online reputation.
With more than 100 million daily users, Snapchat is quickly becoming one of the leading social media platforms.” As millennials are renting more and owning less than previous generations, the importance of connecting with this demographic cannot be understated. 8 billion Snapchat videos are watched daily and the average user spends roughly 30 minutes daily on the mobile app. The multifamily industry can utilize this platform as marketing tool to reach current and potential residents. Read the article to find out how.
"Numerous advances in technology are helping property managers do their jobs more effectively.” Namely, technology in the PM workplace can facilitate and enhance collaboration. Cloud-based platforms such as Google Drive and Dropbox have gained huge traction in the workplace due to their ease of use and mobile functionality.
Chris Bruzas and Alex Blagojevich of Berkadia exclusively listed the property for Oakdale Square Apartments, L.P. and completed the sale on January 24, 2017. Oakdale Square was acquired by Barratt Asset Management.
“China’s escalating crackdown on capital outflows is sending shudders through property markets around the world.” The federal government of China has put a damper on overseas payments, curbing the “world’s biggest real estate buying spree.”
The new process requires additional documentation of foreign transactions. Additionally, the new federal mandate demands that “buyers of foreign exchange must now sign a pledge that they won’t use their $50,000 quotas for offshore property investment.”
This could spell opportunity for investors of other nationalities to jump in where China once dominated.
“Strong demand from tenants, new technology tools and better management are helping the top owners of single-family rental (SFR) houses reach their business goals.”
Rather than buying homes, the millennial generation is continuing to live in rental properties as they grow older. Due to this growth in demand, banks are more willing to lend money on SFR properties.
This simplifies the financing process for investors whereas before, “the only capital available was private equity.” With a strong need for quality rental housing and an ease in financing, there is plenty of room for this industry to grow.
A new public relations campaign, “Venture 69,” is launching in Madison County/Anderson, IN. The aim of the project is to promote job growth within the county, with a prediction of adding 50,000 new jobs over the next 35 years.
These figures are in line with a recent study done by Indiana University which predicts a population growth of 700,000 in that same time frame throughout central Indiana. Venture 69 will be targeting manufacturing businesses as these bring in the most work. The campaign seeks to highlight the benefits of “the I-69 corridor as the optimal place to plant a business.