With over 2.6 million apartment units updated each month, ALN Apartment Data is one of the most complete and accurate data provider available anywhere in the country. The Las Vegas Apartment Market Overview for September 2014 is now available to view.
A good bet. Few of the nation's local economies reaped the recessionary whirlwind to the devastating extent seen in Las Vegas. While the return to pre-recession employment levels and the high rates of population growth that once helped animate the local economy and its housing markets remains a task for the period ahead, new favorable trends and conditions are indicated. Tourism, the lynchpin of the local economy, is driving the resurgence. Indeed, according to preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), employment in the Leisure and Hospitality sector accounts for fully 272,100 jobs (34.8%) of total private non-farm employment in the local Metropolitan Statistical Area (MSA) as of August. Growth in this sector, a little slower over the recent period, remains positive: the 1,200 jobs added net over the latest August-to-August period brought employment in this sector to within 2,000 jobs of the August peak recorded for 2006.
New apartments are coming on line across the US at the fastest pace in more than a decade. Is that pace too rapid? MPF Research says no.
Tesla recently chose Nevada as the site for its 5-million-square-foot battery factory. According to initial estimates, the factory will potentially have a $100-billion economic impact over 20 years, with direct and indirect job creation totaling upwards of 22,000 positions. In a recent special session, the Nevada State Legislature approved four bills that will provide Tesla with the largest incentive package in Nevada’s history, totaling roughly $1.3 billion over 20 years. In addition, the company has agreed to make contributions to education in the state as well as make the hiring of Nevadans and veterans a priority.
The multifamily sector is witnessing a strong rebound as the single-family building sector struggles to move at all, the latest Freddie Mac Economic and Housing Market Outlook report said.
“Best” service, especially in the property management industry, can be deceiving because the needs and expectations of your residents are changing and evolving rapidly. In addition, your residents are comparing your apartment communities to both your competition and to best service with every company, product or service they experience. By reading this article, you will learn the steps for developing a system so your residents can tell you exactly what best service means to them!
Turning around a "problem" apartment community in a troubled neighborhood has to be one of the biggest challenges in multifamily housing. There are so many variables, so many roadblocks and pitfalls, so many points in the repositioning where the project can fail. One success story is Lighthouse Property Management's dramatic transformation of the Taft Street Properties in Wyoming, Mich., from a previously crime-riddled apartment community into safe, thriving, and family-oriented housing that earned the firm a PARAGON Award from the National Apartment Association.
Reis is the nation's most trusted provider of commercial real estate market data, research and analytics. For over 30 years, we have maintained an objective, transparent approach to data collection. We cover 275 metros and over 6,800 market segments across the Apartment, Office, Retail, Industrial, and Self-Storage sectors.