EBMC is pleased to share the following article and video that highlights the development activities of one its affordable clients in the news
Breakthrough Discussion Showcases Creation of Economically Integrated Neighborhoods(Palm Springs, CA) - Interactive Design Corporation’s Maria Song AIA, LEED & AP, is featured in Modernism Week 2021’s online experience, as part of the Palm Springs Architectural Alliance’s Fast Forward/Designing the ...
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Even
the coronavirus cannot stop the upcoming election cycle in our country. Campaigning and voting will take place in
spite of this pandemic. Already the
signs of our impending election are popping up along our streets and in our
yards.
Here
are two common questions that surface nearly every election cycle in HOAs.Are election signs allowed in yards?Are campaign workers allowed to come door-to-door
even though we have ...
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From Community Associations Institute, Nevada Chapter magazine, Community Interests
Hurricanes and natural disasters are in the news again! Not that Nevada needs to worry about hurricanes. However, Nevada does rank third in the nation for seismic activity. Are your communities prepared for a major jolt? Could they take care of themselves until emergency teams reach them?
No ...
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From Nevada Chapter Community Associations Institute magazine, Community Interests
‘Tis the season for holiday fun, celebrations with family and friends, cards and letters crisscrossing multiple states … and the time of year when “peace on earth, good will to men” kindles kindness to others. Unfortunately, it’s also the season for porch pirates who see this richly generous season as a richly ...
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August 23, 2018, Eugene Burger Management Corporation (EBMC)sponsors CAI Seminar "Sexual Harassment: What You Should Know" at the CAI Northern Nevada Trade Show located at the Peppermill Inn,2707 Virginia Street, Reno, Nevada. There were 100 Community Manager and Board Members in attendance.
Adam H. Clarkson, Esq. of the Clarkson Law Group and Cheri Hauer, Esq. presenters, gave demonstrations ...
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Some homeowners run
for the community association
board because they’re
upset about an assessment
hike. Others want to overturn
what they consider unfair
architectural rules. It is not
unusual for personal agendas
to be strong motivators for
homeowners to seek office.
But more often, it seems,
homeowners are too busy
to serve on the board or
don’t want to take on the
responsibility. The same
people remain stuck on
the board because others
aren’t willing to step up.
If ...
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When you think of job opportunities, maybe New York, San Francisco
or Chicago come to mind first. That might be, but when you fold in
affordability--a major consideration for first-time job-seekers--that list
changes dramatically.
In fact, online financial consultant NerdWallet has apparently
done the research to show where the best new job opportunities are, and the
results appeared in a recent Commercial Property Executive report written by ...
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WASHINGTON, DC--Much was made of tax reform during the heated
presidential election.Now, with Donald
Trump heading to the oval office, leaders of the commercial real estate
industry have sent a letter to Congress spelling out key principles of reform.
As reported by the National Multifamily Housing Council,
the NMHC/NAA (the National Apartment Association) and a coalition of industry
organizations have proposed to House Speaker Paul Ryan ...
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RICHARDSON, TX—An expected 10% to 20% increase in the
supply of apartment product will be accompanied by a slowing in rent growth,
according to RealPage’s MPF Research in a new GlobeSt.com article. In fact, as writer Paul Bubny explains, there are some 353,000
units coming online in 2017, up from the “three-decade high” of 310,000 units
delivered this year. Rent growth, meanwhile, will moderate, “with ...
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CHICAGO--THE US Supreme Court has taken a pass on a
ruling that could have set precedents in the ongoing issue of Internet sales
tax. Writing for the Institute of Real Estate Management, Beth Wanless and Andrew Lomo state that, “IREM supports the
enforcement of the collection of online sales tax as it would level the playing
field for our members who manage shopping centers and ...
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KANSAS CITY, MO--Incoming IREM president Michael
T. Lanning, CPM, has some very clear ideas on what real estate professionals
need to focus on in the coming year, as he explained in a recent article in Bisnow. The
article also recently appeared on the IREM news page.
According to Lanning, who is also senior vice
president and asset services leader for Cushman & Wakefield here, states
that the ...
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A recent article on Gallup.com tackles
the issue of hiring bias head on.The authors, Adam Hickman and Kevin Campbell (aided by Becky
McCarville), admit that bias is part of the human
experience. But, as they point out, the key to developing best practices in the
hiring process is not to eliminate bias but rather recognize what biases the
hiring manager is susceptible to.
“Recognizing blind spots ...
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Greg Willett says the apartment rental gap is widening
nationally. The RealPage chief financial officerexpressed this trend to reporter Paul Bubny
in a
recent GlobeSt.com story.
As Bubny reports, in the largest 100 MSAs, the great
divide between the top area rents and the bottom is becoming even greater, and “the
most expensive class A product now rents for $1,663 per month on average,
basically double the average ...
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NEW YORK CITY--The passage of the UK’s exit from
the European Union and the election of Donald Trump have delivered a one-two
punch of what Fitch Ratings calls economic nationalism described as “reduction in trade openness and international labor
migration.”
The theory is part of Fitch’s most recent global
economic outlook. “At the same time, electoral expressions of discontent are
pushing leaders in the advanced economies to ...
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The push-pull of single-vs-multifamily
activity is often described as just that--a tug of war.But statistics from both the National
Multifamily Housing Council and Fitch Ratings show that there’s plenty of
activity to go around.
On the multifamily side, NMHC
is reporting that,
despite a 20-basis-point rise in vacancies quarter over quarter, apartment vacancies
have dropped 50 basis points year over year, marking “the lowest-third quarter
vacancy rate since ...
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WASHINGTON, DC--You can put away your
notions of how the US population--especially those in the younger echelons--are
gravitating to the big cities. While there is some truth to that migration, the
Urban Land Institute in its newly released Housing in the Evolving American Suburb reveals
that we are still a suburban nation.
Among other revelations, ULI finds
that, in our 50 largest MSAs, the suburbs still ...
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WASHINGTON, DC–-As everyone knows, the Monday after
Thanksgiving is the traditional Cyber Monday.But, early figures out after this year’s Turkey Day may track a
not-really-surprising shift.
As Erika Morphy reports on GlobeSt.com:“Never before has the divide between online retail and
brick-and-mortar retail sales been as stark as it has this holiday season.” She
cites an Adobe report that $5.27 billion went to online purchases this ...
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CHICAGO--Writer
Beth Wanless calls it “one of the hottest stories in real estate of 2016.”The senior
manager of government affairs for the Institute of Real Estate Management is
referring to HUD’s Office of General Counsel’s guidance on the use of an
applicant’s criminal history in the approval or denial of a rental application.
In a
blog she wrote for the Institute,Wanless reports that, “Much to
many property managers’ ...
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NEW
YORK CITY--Suzann D. Silverman is making a strong case for a diversified
commercial real estate management workplace. Writing on the occasion of the
CREW Network Convention &Marketplace, the editor of Commercial Property Executive writes
in her Editor’s Note that,
“remarkable women that have built that powerful organization
geared toward increasing opportunities for women in commercial real estate . .
. have greatly expanded the variety of perspectives ...
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ATLANTA--The Industrial Asset Management Council has developed 100
top ideas to improve sustainability. And while the ideas offered on its web page are geared for real estate professionals
focused on industrial assets, the tips, divided into strategic and tactical
categories, are pretty universally applicable. Here is a sampling:
First, in the tactical category, IAMC’s recommendations include
making sure you have the approval and support of ...
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CALABASAS, CA--That’s a question that is, for very good
reason, on everyone’s mind in the industry. In a special report, Marcus
& Millichap sees a mixed bag of outcomes in the months ahead.
It is important to note here that the report focuses on industry issues and none
of the more controversial social issues associated with the campaign. Here are
just some highlights from “Special ...
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WASHINGTON,
DC--The National Multifamily Housing Council is holding the webbed feet of this
lame-duck Congress to the fire. NMHC is reporting that there is work still to be done, much
of which directly impacts the real estate community.
“These
potentially include the reauthorization of the EB-5 program,” which would
impact investment by foreigners. But also on the docket are such issues as HUD
program funding and the ...
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Writing in the Harvard Business Review,
Sabina Nawaz has some interesting advice for people who want to move up the
corporate ladder: In her article, “To Get Promoted, Get Feedback From Your
Critics,” she advocates for what she calls a personal board of
directors.
She envisions the personal board as
a group of “six to eight people you select to help with your professional
development—individuals who can help ...
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CARROLLTON, TX--Multifamily investors, owners,
managers and developers can relax about the traditional tug-of-war between home
sales and the apartment sector.That was
the message that appeared in a recent story appearing on GlobeSt.com, written
by Jay
Parsons, vice president of MPF Research. In it, he provided myths about the two sectors that he says
get perpetuated in almost every news story and industry conference. Here are some
of the ...
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NEW YORK CITY--We’ve heard for years how the real
estate industry has to do a better job of promoting itself to job-seekers. That
warning is apparently no less true today as the recent Job Barometer report
from SelectLeaders bears out.
As GlobeSt.com reports, “Applications to commercial real estate openings beginning in
2015 have fallen dramatically to lows last seen in—you guessed it—2007.” The
resulting demand-supply gap ...
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WASHINGTON, DC--The newly released Emerging Trends 2017 has
good news for managers and owners who have typically plied their trades outside
of the major CBDs: There is life in the suburbs.
Crediting “Housing in the Evolving American Suburb,” from
RCLCO and the ULI Terwilliger Center for Housing, the annual publication of PwC and
the
Urban Land Institute
notes, not surprisingly of course, that there are major differences not ...
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CALABASAS, CA--Have you used Yelp to gauge a
restaurant’s appeal? Apparently many do as the most recent Retail Spotlight
report from Marcus & Millichap reveals. Such social media
applications--along with a shift in consumer taste--are “driving rapid change
in the restaurant sector,” says the report.
Yelp and other sites, such as Urbanspoon, are
driving consumers to the best-reviewed venues and creating buzz for eateries
that offer “menu differentiation, ...
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NEW YORK CITY--The industrial real estate sector comes out
on top in a recent ranking by PwC and the Urban Land Institute, reports Commercial
Property Executive. So the two firms state in Emerging Trends in Real Estate 2017.
The annual work rated industrial on top for development and investment owing to
“strong demand drivers, restrained construction and lower perceived risk,”
according to CPE writer Dees Stribling. ...
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COLORADO SPRINGS, CO--The first commercial use of
driverless technology ended here last week as a Budweiser tractor-trailer
delivered 2,000 cases of Bud after a journey of 120 miles from Fort Collins.
The implications for all real estate food groups is huge. But here are the facts:
The shipment was valued at $470, according to Forbes, noting that it was comparable to traditional delivery costs. ...
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CALABASAS, CA--Single-home developers, sated for years now on
luxury homes, are at last turning to a largely underserved clientele--first-time
homebuyers.A new research brief from Marcus
& Millichap reveals that luxury homes have been a focus since the end of the
recession, as “buyers of these homes faced fewer credit restraints and remained
active in the market while first-time homebuyer activity weakened” in the face
of low inventory ...
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SAN DIEGO—“Reduced risk,
lower costs and better data.” Those were just some of the benefits of drones as
a property-examination tool, said Osprey
Assessments’Gordon Dowrey at the recent Fall Conference of the
Institute of Real Estate Management.
As GlobeSt.com writer Carrie Rossenfeld reported, there are “300,000 drones registered with theFAAas of January
and an expected 90 billion by 2025.” In addition, “Property managers who use
drone technology ...
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WASHINGTON, DC--The Americans with Disabilities Act took another
leap forward recently as the National Multifamily Housing Council and National
Apartment Association threw their support behind legislation that would deter “costly,
frivolous lawsuits against property owners.”
According to news from NMHC, Senator Jeff Flake (R-AZ)
introduced a companion measure to a House bill intent on “amending the ADA
while still upholding the Act’s vital objectives. Ultimately, the ...
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NEWPORT BEACH, CA—So, after all is said and done, what
is the real threat of Airbnb to the hospitality industry? According to a new
report from GlobeSt.com, probably not much. As writer Paul Bubny points out, the home-sharing site was recently
valued at $30 billion, “roughly on par with Marriott International and Hilton
Worldwide.”
But there’s clearly an asterisk there. Green Street
advisors has just put out ...
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SAN DIEGO--Incoming IREM president Mike Lanning spoke recently
with Carrie
Rossenfeld of GlobeSt.com on many of the issues critical to a full
understanding of property management.
Lanning, who is senior vice president and asset services leader of
the Kansas City, MO market for Cushman & Wakefield, discussed how to select
a property manager. In so doing, he touched
on the fiscal responsibility property managers have to their ...
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NEW YORK CITY--This might be a
country where a woman might soon be president, but for most women in the
workplace, a glass ceiling still exists. As the Wall Street Journal
reports, a new study reveals that the topic of advancement is very different
from gender to gender, and “corporate careers come in two flavors: his and
hers.”The study, conducted by McKinsey & Co. and
LeanIn.org, shows ...
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CHICAGO--The Institute of Real Estate Management has
just come out with its second edition of Managing
and Leasing Commercial Properties, and in a recent blog, IREM
highlighted four truths about the market, excerpted from the book.
The truths are important because, while they seem
self-evident, they are so easy to forget.
TRUTH 1:Real
estate will always be cyclical, and managers must be able to manage through
change.
The ...
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CHICAGO--Don’t you just love the lower prices at the gas pumps?
Believe it or not, such good news has a deleterious effect on certain office
markets, as a newly released report from Commercial Property Executive points
out.
Quoting a Cushman & Wakefield report, Oil: the
Commodity We Love to Hate, writer
Gail Kalinoski
says that prices will continue to stay low, below the $60-per-barrel mark,
through the end of ...
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NEW
YORK CITY--Development is strong in the major gateway cities. A recently
published article in the National Real Estate Investor suggests that, for this reason, maybe it is time for
the suburbs to shine.
"There
are many markets out there that are late-recovery plays offering significant
rent upside and limited risk from new construction," said Walter Page,
director of office research for CoStar Portfolio Strategy, during a ...
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WASHINGTON, DC--A joint statement from the National Multifamily Housing Council and the National Apartment Association reveals that the Obama Administration has released its Housing Development Toolkit, an initiative to “encourage local governments to remove barriers to the development of apartment homes and increase overall housing affordability.”
According to the statement, the Toolkit would “overhaul antiquated land-use policies and bring in more ...
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NEW YORK CITY--Cyber Security is very
much in the headlines these days, owing not just to the presidential debate but
equally to apparent missteps taken by some of the biggest corporate retail
brands in the US.The issue was
addressed this week at the second annual ALM CyberSecure
conference here.
As Rayna Katz reported in
GlobeSt.com, major US retailers entrusted with customers’ private information are falling
down on the ...
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CHICAGO--Especially
in this time of heightened threat, building security is more important than
ever. But security is also an interactive process, involving the diligence not
only of the property manager, but the tenant as well, as this article from
Buildings Magazine, reprinted recently by The Institute of Real Estate Management illustrates.
And given the times,
there seems to be a shift in the way management approaches security.
Traditionally, ...
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WASHINGTON, DC--Violence against
women and plans to re-amortize properties to retain rural rental assistance.
These were only two of the many issues impacting real estate owners and managers
of federally assisted properties that IREM’s Federal Housing Advisory Board
brought to Capitol Hill recently.
Among
the members of the board was EBMC president Stephen L. Burger as the team met
with a number of key agency officials. With Bryan ...
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NEW YORK CITY--The Wall Street Journal reports that that US housing affordability--both on the ownership and rental
side--is starting to rise.
According to Jed Kolko, chief economist at job-site Indeed and
senior fellow at the Terner
Center for Housing Innovation at the University
of California, Berkeley, just under 50% of renters were “cost-burdened
in 2015, meaning they spent more than 30% of their incomes in rent,” ...
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SINGAPORE--How are you as a manager? Do you feel effective
in inspiring your teams to go above and beyond? You might be kidding yourself.
Two new studies may put the lie to what a recent article in the Harvard
Business Review
calls “soft coercion.”
The article was co-written by Kai Chi Yam Yam, assistant
professor of management and organization at the National University of
Singapore; Anthony C. Klotz, ...
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CHICAGO--The
Institute of Real Estate Management reports in a recent blog that sales of plug-in electric cars has
hit half a million. The implications here are clear for building managers:
charging stations.
Blogger (and IREM
digital strategist) Karen Kazmierczak notes that
“The Tesla Model 3 alone had 400,000 pre-salesin less than 21 days in April of this
year. Nissan, Audi, Volvo, Volkswagen, Hyundai, Kia and Ford all have ...
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WASHINGTON, DC—The
National Association of Realtors seems pretty optimistic about the state of the
industry, citing both a slow but steadily improving labor market and strong
demand in multifamily. The group, in its quarterly real estate forecast, is
predicting an upward trajectory through the next year.
As we have stated
before, we take with grain of salt long-range predictions, but such forecasts
also serve as a good ...
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Online
rental service Airbnb has taken off in recent years.But as a recent article in GlobeSt.com reveals, there are pitfalls for
the unwary building owner.
Quoting
Greg Offner of the Graham Co., GlobeSt.com reports that while the great
majority of Airbnb transactions go off seamlessly, there have been what Offner
calls “horror stories,” and while we won’t repeat them here they are of the
variety one would expect ...
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WASHINGTON, DC--While our focus
tends to be on property management, there’s disturbing news of another
management type--management within an organization--coming from pollster Gallup
Inc.
While one of the most important company decisions senior executives can make is
who they will tap to manage, “companies fail to choose the right candidate 82
percent of the time.”
In fact, says the firm, only one
in 10 people are fit to manage. ...
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CALABASAS, CA--We’ve all heard by now that, according to the
US Bureau of Labor Statistics, nonfarm jobs grew by 151,000 in August. The
fairly steady growth of the labor markets can only bode well for the office
sector of commercial real estate, and Marcus & Millichap’s summer Office
Outlook report bears that out.
“Contributions to total employment have been broad-based
this year, with growth in healthcare, ...
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WASHINGTON, DC--According to the Washington, DC-based Urban
Land Institute, one in four working renters--and 16% of working homeowners--pay
more than half their income for housing.
In a recently published study, The Economics of Inclusionary
Development,
ULI points out that exorbitant housing costs are bad not only for families but
equally for local businesses and competition. “They make it harder for
companies to attract and retain workers or ...
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NEW YORK CITY--We’ve
all heard the impact computerized shopping has had on the traditional
brick-and-mortar retail market. But given the press it receives, readers might
be surprised to learn that e-commerce makes up only 8.7% of the total retail
picture.
So says a new report
from Commercial
Property Executive. But that is still a sizeable chunk of
change, and writer Dees Stribling reports that that 8.7% actually represents
$1.9 ...
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NEW YORK CITY--In yet another testimony to the power of the
apartment market, the sector is Fitch Ratings’ leading real estate food group
in year-over-year NOI increases. So
reports GlobeSt.com.
In fact, says writer Paul Bubny, while all property types saw
increases, apartments led the pack with a 5.4% jump in NOI growth for 2015.
This compares with 2014’s 3.8%.
And the upside is expected to ...
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HOUSTON--There’s mixed news in the economic picture as we enter the downside of Q3. Since we all work under the umbrella of the global economic picture, it should be said that the UK’s June decision to exit from the European Union has generally been a positive for the US, and Transwestern reports the resultant flight to capital-market safety has driven down ...
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NEW YORK CITY--Where in the country would you prefer to
live? A new report from the National Real Estate Investor
provides guidance on that question in its list of the Top 10 Best--and
Worst--Cities in which to live. First the good news. Writer Ryan W. Neal of
Wealthmanagement.com reports that the cities were ranked on the basis of 12
factors, including jobs, housing, lifestyle and safety. ...
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WASHINGTON, DC--The Building Owners and Managers Association International has released its annual Office Experience Exchange Report, in association with research firm Kingsley Associates. This is the 96th running of the report, which essentially provides a national benchmark against which the performance of local buildings can be measured.
As BOMA points out, “Data from these interactive online reports offer critical ...
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TORONTO--So says Avison Young in a newly released report, Millennials
and Re-urbanization of the City.
In a tug of war between the much-touted 18-to-36-year-old
cohort and Baby Boomers, AY indicates that Millennials would clearly win. The
firm cites Census Bureau statistics putting the younger population at 75.4
million, as opposed to Boomers’ 74.9 million. So clearly, where they choose to
live is a major consideration for the ...
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SEATTLE—Well, here’s a twist on
the rent-vs-home debate: Renters who can afford to buy a home, but simply
won’t. GlobeSt.com reports that according to real estate website Zillow, there are “high percentages of renters
who could afford to buy.”
According to writer Paul Bubny, a new Zillow study, “cited
San Jose, San Diego and San Francisco as metropolitan areas with
the largest segments of on-market renters with credit ...
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WASHNGTON, DC--An article recently published on the website
of the Urban Land Institute tallies the impact the much-touted driverless cars will have on the commercial
real estate industry.One of the most
obvious examples will be in the infrastructure of our cities.
According to writers Terence
O’Connell and Wes Guckert, autonomous vehicles will dramatically reduce the
amount of space dedicated to parking. “Roads, highways, and parking consume ...
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The Bureau of Labor Statistics revealed its July employment
numbers and clearly there is no mid-summer slump--and no reactive panic to low
stats as we saw two months ago.
Some 255,000 non-farm jobs were added to the economy last month, reports BLS, even though these additions failed to move the needle on the unemployment rate, which happily remains at a very low 4.9%. ...
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NEW YORK CITY--In this month’s construction-performance
numbers lies a great example of what happens if we look too closely at stats.
Given the rather cloudy economic picture, the fact that construction activity
was down in June could be troublesome.
In fact, as Commercial Property Executive
reports today, the Bureau of Labor Statistics numbers show nonresidential construction down
1.3%, not horrible by any measure. In annualized dollar ...
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HOUSTON-With all the hype Millennials are getting, it’s
refreshing to see a focus on the needs of a now largely overlooked generation .
. . the Baby Boomer.
As locally based Transwestern Development Co. reports in the
latest issue of its Insights Online Magazine, “Astute developers are targeting that rental demographic,” and producing
communities “that are as different from traditional multifamily assets as Baby
Boomers ...
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CALABASAS,
CA--Clearly what’s good for the goose is good for the gander, as Marcus &
Millichap’s latest research blog proves. The goose in this case
happens to be private home sales, feeding the gander of multifamily rentals.
“A
modest advance in sales activity during the month of May put additional strain
on for-sale inventory as the single-family housing market seems to remain
caught in a loop that ...
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CHICAGO--“We feel better being a little more conservative.” So Bill Maher
characterized his firm’s investment outlook to GlobeSt.com’s Paul Bubny.
Maher
heads LaSalle Investment Management’s Americas research team, and his comments
mark the release of its Mid-Year Investment Strategy Annual. Post-Brexit and
the January stock market upheaval, Maher says the firm has “dialed back” its
growth forecast through 2017 and feels more comfortable in a conservative zone
as ...
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CHICAGO--Can
technology de-personalize the highly personal property management business?
Chris Mellen, 2016 president of the Institute of Real Estate Management,
tackled that very question in his recent column for the National Real Estate Investor.
Obviously, as he
points out, tech is changing virtually every phase of our lives. “But
property managers face a specific challenge in terms of dealing with that
reality in that the practice of management ...
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WASHINGTON, DC--That seemed to be the question on
the minds of Doug Bibby and Bob DeWitt, president and chair, respectively, of
the National Multifamily Housing Council. They asked that question in a paper
that was part of the Urban Institute’s Housing Finance Reform Incubator.
In closing remarks that summarized their essay,
Bibby and DeWitt focused on Fannie Mae and Freddie Mac, and praised the
government-sponsored enterprises ...
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CHICAGO--Even though JPM is the official publication of
the institute of Real Estate Management, its latest issue raises a question pertinent to every company in the US: the question of
proper succession planning.
The issue is one that speaks to organization, planning and
continuity, and there are some sobering statistics surrounding the
process.Taking real estate firms as the
example, consultant Christopher Lee, president and CEO of ...
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WASHINGTON, DC--A rather surprising report from the
Washington, DC-based Pew Research Center puts the US first--in fact,
alone--among nations embracing cultural diversity. According to writers Bruce Drake and Jacob Poushter,
most European countries fail to embrace growing diversity as a cultural
positive.
In fact, they write, “The most
common view among the 10 European countries surveyed is that cultural diversity
is neither a plus nor a minus ...
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CHICAGO--Blogging on the
website of the Institute of Real Estate Management, Mindy Wallis writes that, while managing a diverse workforce is always a challenge, in
times of trauma, it becomes an even more critical issue. “Too often these days,”
she writes, “it seems that we wake up to another tragedy in the news. While we
feel for the victims, we also feel helpless and frustrated. ...
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]
WASHINGTON, DC--We’ve all grown accustomed (presumably) to
the slow-growth nature of the current economy.But slow growth is still growth, and the Harvard Joint Center for
Housing Studies, in its State of the Nation’s Housing 2016, officially declares the housing slump over. Not
surprisingly, according to a report from the National Multifamily Housing
Council, the multifamily sector leads the charge.
“Demographics were the biggest contributing factor
to ...
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WASHINGTON, DC--Commercial office building operations last
year contributed $235 billion to the national gross domestic product. That is
the key takeaway from the Building Owners & Managers Association
International in its bi-annual research report, Where America Goes to Work, The
Contributions of Office Building Operations to the Economy 2016.
The study measures the 10.5 million square feet of office
buildings within BOMA’s 91 local associations, and ...
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BY BILL JOHNSTON, CPM, CCIM
Published in the Institute of Real Estate Management (IREM) Journal of Property Management (JPM) magazine, July/August 2016
Whenever I assume responsibility for a multifamily property, one of the first things I look at is the lease structure of the units. In many cases, I find that they are, most of the time,
set up on term leases. But does ...
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HOUSTON--This year, the Financial Accounting
Standards Board served up new standards intended to improve financial reporting
on lease transactions. According to Mike McLain, chief accounting officer for
Transwestern, these new changes “introduce a multitude of scenarios to consider
as lease contracts assume a more material role” in corporate finance.
In a statement, McLain outlined the impact of
these scenarios for both occupiers and owners, stating that: ...
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WASHINGTON, DC--The US Department of Housing & Urban
Development is getting more aggressive on the control of lead hazards in
apartments.
According to the National Multifamily Housing Council,
HUD secretary Julian Castro has awarded $46.5 million in grants “to 15 communities for the
purposes of eliminating lead and other safety hazards in 3,100 low-income
homes.”
This,
according to NMHC, is part of a comprehensive lead-control plan that
incorporates ...
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HERNDON, VA--GlobeSt.com is
reporting this morning an expected slowdown in office demand, projections
courtesy of the National Association of Industrial & Office Properties.
In the article Paul Bubny reports that this year’s expected absorption of 34.6 million square
feet is down nearly half from last year’s more robust 62.1 million feet. The
slightly good news is that activity is expected to regain some--just
some--ground next year, ...
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WASHINGTON,
DC--Writing for Commercial Property Executive, Dees Stribling calls guessing
the next move of the Federal Reserve a “mug’s game.”Nevertheless, he points out, that isn’t
stopping “economist, pundits and bloggers” from predicting what will happen
this month with interest rates.
Common
wisdom in the days after a dismal monthly jobs report is that there will be no
rate hike. (You’ll recall that the Bureau of Labor Statistics ...
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CAMBRIDGE, MA--Multifamily is hot. That’s the upshot of a
recent study produced by Harvard University’s Joint Center for Housing Studies.
According to the study, over the past 10 years, from 2005 to
2015, the share of US households that rent rose from 31 to 37%, the highest
level since the 1960s. A total of 43 million families currently live in rental
housing.
Why? A number of ...
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WASHINGTON, DC--Where does the Millennial generation call
home? Their parents’ house, according to research from the Pew Research
Center.
A new analysis of the most recent Census data reveals that
in 2014, for the first time in 130 years, adults of ages 18 to 34 were more
likely to be living with their parents than with a partner or spouse on their
own.
“This turn of ...
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WASHINGTON, DC--Tenants trying to squeeze more workers into
less space may find there are some surprising soft costs in this otherwise capital-saving
approach to leasing. This is just one of the takeaways from a recently released
White Paper from the Building Owners & Managers Association International.
(Click here for the White Paper.)
“Decoding Densification, Insights and Opportunities for CRE
Professionals,” by Phil Mobley, a principal at Koine ...
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NEW YORK CITY--Writing for the National
Real Estate Investor, IREM 2016 president Chris Mellen makes a reasoned
argument for sustainability . . . . well beyond the “feel-good” decision to do
the right thing.
http://nreionline.com/property-management/sustainability-imperative
Chris quotes Todd Feist, IREM’s sustainability
program manager, who put it best in a recent presentation before our Georgia
chapter: “When it first came about, we had this skepticism that there was a
cost-savings ...
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WASHINGTON, DC--Commercial Property Executive is
reporting an upward tick in the GDP.
https://www.cpexecutive.com/post/economy-watch-gdp-growth-revised-upward/
In an article written by reporter Dees Stribling. CPE
says the Bureau of Economic Analysis has upped the GDP growth by a whopping
0.3%, from 0.5 to 0.8%.
As Stribling writes, “The second real GDP estimate is based on
more complete source data than were available for the advance (first) estimate
issued last month. Overall, ...
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LAS VEGAS--To go by the numbers,
the recent RECon retail conference here was a success. Some 36,000 attendees
showed up at the Las Vegas Convention Center along with more than 900
exhibitors ranging from real estate REITs and brokerages to such shopping
brands as Chipotle, 7-Eleven and Starbucks.
According to Tom McGee, president
and CEO of The International Council of Shopping Centers, the host of RECon, the
attendance ...
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WASHINTON, DC-The ups and downs of a tumultuous first
quarter stand in high relief in the National Association of Realtors’ newly
issued report, “Commercial Real Estate Outlook: 2016.Q2”
As the report tracks, the first quarter was a rocky one, “as
global economic activity throttled back and companies found financial markets’
volatility unsettling.” Soft consumer spending and an equally soft corporate
investment outlook seemed to mark the first ...
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CHICAGO—Andrew
Lomo, government affairs liaison for IREM, praises the FAA’s recent ruling on
the commercial use of drones in a recent blog posted on the Institute’s
website. http://irem.org/resources/irem-blog/irem-blogs-blog/2016/05/drones-at-night
In
late April, Lomo writes, “the FAA approved night flights for a commercial drone
for the first time, after 16 months of deliberation and administrative
proceedings. Until this decision, the FAA prohibited all drone flights between
sunset and sunrise. While this ...
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WASHINGTON, DC--Nearly 40 design and construction
associations, representing no fewer than 1.7 million industry professionals,
have joined together to take a stand on building resiliency.In a recently released statement, “Preparing
to Thrive: The Building Industry Statement on Resilience,” this blended group
is dedicating itself to the ability of our built environment to withstand a
variety of natural and human-made threats.
“We recognize that natural and manmade hazards ...
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NEW YORK CITY--Talk of an economic downturn might be greatly
exaggerated.So says Cushman &
Wakefield, which in its recently released US Macro Forecast, paints a fairly
rosy picture for the months ahead. Nevertheless, in a market still roiled by
mixed signals, the good economic news may not translate dollar-for-dollar to
the office leasing market.
A first-quarter slowdown in investment sales and leasing
were the result of fears ...
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WASHINGTON, DC--According to the most recent quarterly
survey of apartment market conditions produced by the National Multifamily
Housing Council, the market is softening, but only a bit. Of the 120 CEOs and other senior
executives of apartment-related firms who responded to this quarter’s survey,
51% report that conditions are pretty much status quo with Q1. This is
down slightly, however, from the 56% who reported the ...
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NAR’s latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.
Highlights
The National Association of REALTORS® Commercial Real Estate Outlook: 2016.Q1 report focuses on market performance in both large (LCRE) and small commercial (SCRE) sectors. The report provides an overview of economic indicators, investment sales and ...
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An article by Lori Burger as published on NREI. The family-run company I work for was founded in 1968. The founder, my father-in-law, is now 81 years old but continues to be a vital force in both the company and the industry. In addition to the steady, daily hand he keeps on the tiller of the firm, he ...
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Property Managers Take On More of an Asset Manager’s Role.An Article published by NREI National Real Estate Investor. There's a subtle but definite shift taking place in the real estate industry. New demands and new technologies are coming together to advance the role of the property manager. Traditionally assumed to be a day-to-day role with little to ...
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Does Your Business Model Include Professionalism?An Article published by NREI National Real Estate Investor ...
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An article published by NREI National Real Estate Investor. ...
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Hiring for a New AgeAn article published with NREI National Real Estate Investor. ...
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Eugene Burger Management Corporation is proud to announce that we've been acknowledged as one of the top 500 companies in the North Bay by the North Bay Business Journal. EBMC has been located in Northern California since it was established in 1968. It's been a pleasure to have had our company's corporate location in Sonoma County for 10 years and ...
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Toward Cultural Diversity By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif. Even in the best of circumstances, communication and understanding are risky propositions. So much depends on both parties’ ability to ...
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In October of 2014 Lori Burger, CPM, PCAM, CCAM, Senior Vice President Marketing / Business Development, was officially installed as the 2015 Institute of Real Estate Management (IREM) President. You can see the official press release on the IREM website detailing the events that took place to install all the 2015 officers. Now you can see a glimpse of the event honoring ...
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Before Disaster Strikes - an article from NREI By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif.Before disaster strikes: these are three powerful words that every property manager in every asset type around the nation ...
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Revenue Reserve is the first commercial real estate focused documentary to explore how the industry's most successful private investors protect & enhance wealth. Directed by expert researcher, film director and financial advisor Doug Orchard, the film features an insider perspective on the unwritten rules of success that have fostered success despite tough economic circumstances. The film is a must see for ...
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Toward Better Leadership - an article from NREI By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif. When was the last time you were in a Home Depot? Did you ever notice the ...
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