The online shopping revolution is banging on your door. Are you ready? A revolution is going on inside consumers’ computers, one that the apartment industry should take note.
Apartment make-ready maintenance requires some planning and thought. The tasks required generally differ slightly from property to property, and there can be issues between team members when everyone is not on the same page (or even reading from different books.)
According to a survey released by pest control company Orkin, recurring pest issues cause 60 percent of apartment renters to look for a new place to live—a finding supported by the National Apartment Association (NAA). Of apartment renters surveyed, 85 percent have encountered a pest in their apartment in the past 12 months. While bed bugs are the most feared of all pests, flies were sighted most often, followed by ants, cockroaches and rodents. The survey polled apartment renters across the United States.
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!
Exciting Times for NVSAA!
Introducing Our New Billing Structure
This is a very exciting time for us! We are offering more opportunities for our members than ever in key areas: Education, Legislative, Networking.
We are also creating ways to do business better. This allows us to build upon our foundation, and facilitate future growth.
The Nevada State Apartment Association is pleased to announce a streamlined billing structure for our membership. We are moving to a calendar year membership cycle where all members will pay their dues in January and enjoy membership benefits through December of that year.
The goal is to shift our entire membership to this more efficient billing cycle by January 1, 2017.
As such, it’s important to begin the process now. Handling membership in this manner is in line with many other Associations across the country and is design designed to minimize confusion on expiration dates and make the budgeting process easier.
Our goal is to make the transition as easy as possible:
If your membership renewal falls due between September 1, 2015 and December 31, 2015. You will receive an invoice that includes the remaining months of 2015 and all of 2016. Conveniently, your membership will be paid through the end of 2016. The remaining association members expiring in 2016 will receive prorated invoices to finish out next year’s membership. This process puts us on track to begin annual billing for the association, as a whole, in 2017.
Thank you for your cooperation as we make these changes! YOU are what makes the NVSAA the premier multi-family housing association in the region. Let’s keep going and growing!
If you have questions, you can reach me at 702.862.0165
My best to you,
Shelly A. Cochran
Record-setting tourism and the strongest convention attendance in several years are driving employment growth and creating apartment demand Las Vegas. Job growth is well above the national average, spurring developers to complete projects that were mothballed since the recession. In addition, multifamily permitting is trending more than 60 percent higher as builders rush to keep up with demand for rental space. While more than 1,400 apartments have been completed during the past year, vacancy fell sharply and concession activity nearly halted on well-located properties near employment hubs. The leisure and hospitality sector is providing the biggest job gains in the economy, although more corporations are relocating to the metro due to its position as a travel destination and the lack of a state income tax. The new workers hired by these companies are choosing to rent in prime areas to the southwest of the city, close to shopping centers, freeways and the Strip. Single-family housing costs in these areas are above the metro average, spurring strong rental growth and pushing vacancy down. Tightening operations will lift rents up 3.4 percent this year, more than 100 basis points above inflation.
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