A survey conducted in 2017 among AMLI residents revealed that a large majority of them saw living in a sustainable multifamily property as “very important.” While we wrote recently about how seeking so-called green financing can benefit investors and developers, it would seem that designing a green, sustainable property is important and inviting to residents – and that could pay off for investors as well.
BAM's founder and CEO offers insight and wisdom gained from a career in the multifamily industry and learning from both success – as well as from failures. From successful investment strategy to property management and team building, Ivan Barratt gives his unique perspective in this podcast those interested in growing their real estate business will appreciate.
Within the next decade, the multifamily industry will see more Baby Boomers retire and downsize, more multigenerational families, more renters opting for roommates, and more young and immigrant families: what does this all mean for new property construction? According to recent data in a piece in MultiFamilyExecutive online, all these groups are finding the traditional studio and one-bedroom apartments undesirable in a quest for more livable space.
In a recent blog article, we wrote about finding the perfect fit for a mixed-use property so your retail meshes well with your multifamily interests. In a timely article of their own, National Real Estate Investor (NREI) online recently wrote about just why it is that mixed-use properties are growing in popularity as a specific type of investment property.
When it comes to a mixed-use building, having the right retail in place is key – but how do you decide what that is? According to a recent piece in MultiFamilyExecutive (MFE) online, it's as simple as finding the concept that people will enjoy. Sounds simple, but as with anything, there's a bit more to it than that.
If you're considering a multifamily value-add investment property, you might want to consider (or are already looking into) a “green loan” or so-called “green financing.” A recent piece in National Real Estate Investor (NREI) online shed some light on how popular this type of financing has grown in recent years and how it can benefit the value-add investor.
Looking for the outdoor design trends that will be topping the list in 2018? The American Society of Landscape Architects (ASLA) recently released a survey they conducted this year, from late February to early March with over 800 participants.
The Indianapolis Apartment Association (IAA) recently held their Maintenance Mania event – a day focused on the dedicated and hard-working maintenance staff that provides a vital, invaluable service to the multifamily industry.
When it's time to make big changes at your property, you should consider a variety of factors such as the reasons behind your rebranding, as well as how you'll do it – for you to successfully upgrade your community and create a welcoming property.
If you've paid attention to all the hype about Millenial renters, you might miss out on other demographics which are also signing leases in significant numbers; making sure you market and plan for a wide variety of tenants is the best way to ensure higher occupancy. A recent article in Multi-HousingNews (MHN) addresses this and points out that there are ways for rental communities to appeal to any renter.
Recently, National Real Estate Investor (NREI) published a piece on how investors in the multifamily market are being forced to seek opportunity away from larger markets and in smaller properties – often leading to workforce housing.
As the IBJ reported recently, Indianapolis was chosen to take part in a collaborative venture with other cities to improve transportation. The Transportation for America's Smart Cities Collaborative encourages cities to work together and use innovative technology and policies to improve city transportation. As we've mentioned previously, renters in urban areas appreciate transportation options as part of the reason they may relocate or even stay in their current lease.
As we've reported before, advances in technology are impacting the multifamily rental industry and recently a new article in MultiHousingNews cites a survey showing exactly the tech renters want most – and what they're willing to pay for. The article in MHN reports that most renters surveyed said they'd pay more for apartment communities that have specific tech upgrades they're looking for.
What a difference a year makes! Last year, BAM was excited to announce that we'd hit #22 on the IBJ's Top 25 Indianapolis-Area Multifamily Property Management Firms. This year when IBJ released their list, we'd climbed all the way to #16.
When looking at sound real estate investment strategies, National Real Estate Investor (NREI) recently talked with a private equity investor to see where he recommended putting money at the cycle's end. According to CEO of Virtus Real Estate Capital, Terrell Gates, there are some definite winners in the end-of-cycle investment game.
One interesting trend in rental demographics over the last few years has been profiled in several articles and we came across one in RentCafé recently. The new face of renters, especially in trendy, upscale urban areas, is actually...older faces – specifically those over 55 who are highly-educated and have the financial wherewithal to live wherever they'd like.
With the mercury rising and spring just around the corner, there are a few steps for those in the multifamily industry to get their properties in shape for the warmer weather ahead! BAM put together some tips for property managers to implement once the long winter is finally in the rear-view mirror. By being proactive this spring season, you'll ensure that your property is in top shape and that your residents will enjoy calling it home all year 'round.
If the multifamily industry had a motto, it might be “the only constant is change.” This year there are some changes ahead that industry players should heed, according to a new piece in Forbes online. From rental changes to emerging tech, the real estate pros who are dialed in with what is likely to shift this year will be ahead of the game. BAM looked at the expert predictions of factors like...
In one of our recent blog articles, (LINK) we wrote about markets that multifamily developers might head to this year, as well as the amount of increased inventory that those markets are demanding. One problem that might stand in the way of progress: rising construction costs for the industry. According to information we found on a variety of sources, this year the cost of delivering the units that many booming markets demand is only going up. BAM looked at what costs more and what it may mean for the multifamily market.
Tech-savvy multifamily property owners know that in order to appeal to a broad variety of potential residents, they must embrace technology innovations that will benefit both tenant and landlord alike. Looking at articles in both National Real Estate Investor (NREI) and Real Estate Tech News, we spotted some tech trends that could be a good investment and free up valuable time for busy property managers.
Multifamily developers aren't finding it easy to plan their next development site, according to a recent feature article on National Real Estate Invetstor (NREI) online. According to the article, which quotes an economist at RealPage Inc, part of the issue derives from the longevity of the cycle itself. Finding good development deals that are financially sensible becomes tricky, even with other factors in your favor. Using data taken from YardiMatrix, NREI looked at where multifamily developers might end up this year pursuing those good deals. It's a waiting game to see how markets will absorb the supply being delivered and finding the right deal in the right neighborhoods. We looked at NREI's information and saw they looked at markets like...
Sullivan, Indiana will soon be home to a new affordable housing development for seniors. Historic Sullivan Lofts may also become a model for other similar projects, as they will offer free social services to residents. The project landed in the online pages of Business Wire and even appeared in the Midwest section of MultiHousing News. Both sites noted the funding for this new project came from R4 – which is a national affordable housing tax credit syndicator and lender. R4 provided $6.7 million in tax credit equity which will be the primary funds for the development of the 40 new units dedicated to senior housing.
If you've wondered when you should raise rent at your property/properties, or by how much, we looked into the state of tenant wages and rental rate opportunity across property classes. Using the info we first found in an article by the Indiana Real Estate Journal we offer insight into which property class is the best (and worst) bet for safely raising rent without risking tenant loss.
The National Multifamily Housing Council conference was held this month in Florida. BAM scouted a recap in the National Real Estate Investor (NREI) online (http://www.nreionline.com/multifamily/six-takeaways-nmhc-apartment-strategies-outlook-conference) to see what the lessons were from this annual industry gathering. Overall, according to NREI, the mood was positive - yet somewhat offset by the reality of factors like interest rate hikes and a possible eventual economic slip. The NMHC conference presented important industry information that we wanted to share, like:
High occupancy is the name of the game in the multifamily rental industry and it doesn't happen by accident. Your property management team can take ownership of both gaining and retaining tenants by following some sound strategies that we outline for you below. Your best rental property experience begins with having a solid property management team in place – so make putting together your dream team step number one. Then have your team take the following steps to improve occupancy rates at your property.
In a recent article, we wrote about how financing is still available for multifamily investors. An article published this week in National Real Estate Investor (NREI) online demonstrates that not only is financing available, but certain loans are popping up more frequently. Working with mezzanine lenders is an option for those who want to invest in multifamily properties, and according to NREI, there is a lot of competition between these lenders which creates opportunities for the borrower.
According to an article featured last month in the National Real Estate Investor (NREI) online, now may be a good time to seek a loan for multifamily construction projects. While financing for other multifamily investing may be harder to find, loans for apartment development are currently more appealing to financial institutions. In other words, if you're looking to build, now may be the time.
With most of us firmly in the grips of a harsh winter and below-freezing temperatures lasting for weeks on end, it's important that you ensure you protect your property and tenants from one of the biggest (and costliest) potential winter disasters: frozen and burst pipes. Frozen pipes are a real danger and can happen anywhere and in any property once the temperatures drop below freezing, and especially when temperatures go well into arctic territory. Once pipes burst, the resulting water damage can cause hundreds if not thousands of dollars in property damage. This is definitely a case of “an ounce of prevention” being worth “a pound of cure.”
Since 2014, value-add properties have been one of the hottest tickets in town, drawing investors who seek to make a profit on class-B properties. Yet the easy pickings are long gone, and now the name of the game is in finding properties that haven't already been upgraded. All this, according to a recent article in National Real Estate Investor (NREI) online . For investors looking to find a value-add property, all isn't lost. There are still areas where it's possible and ways to do it.
Some estimates say that by 2030, there will be a need for anywhere from 4-5 million new apartments. One factor that could significantly impact the delivery of so many new units is the lack of construction labor. As we've written in previous articles, some labor loss occurred during the economic crash, while other construction labor loss is due to more recent natural disasters. Yet, according to an article we found online in Property Management Insider, the construction industry has a plan.