US Dept of Labor… December 16, 2019

Provided by the National Apartment Association    NAA/NMHC have released guidance (link posted below, login required) for the apartment housing industry on the Labor Department’s overtime rule.   Prepared by Jennifer Redmond and Brian Fond from the law firm of Sheppard Mullin, the guidance describes the rule in detail and provides issues for owners, operators and developers of apartment housing to consider as they seek to comply with the new rule. Effective Dec. 1, the rule lifts the overtime pay threshold from $23,660 to $47,476 and is expected to impact 4.2 million executive, administrative and professional employees who are paid by the hour or earn less than the new threshold.     The overtime rule would harm the ability of apartment housing employers to implement, and their impacted employees (including property managers at traditional apartment and student housing developments) to take advantage of flexible scheduling options. In addition, it would limit career advancement opportunities for employees. The rule also goes far beyond the apartment housing industry and has the potential to affect employees at colleges and universities who serve student housing residents.   NAA/NMHC strongly oppose the overtime rule and are supporting all avenues that would either repeal or limit the rule. On July 14, immediately before adjourning for the summer recess, the House Appropriations Committee passed funding legislation that would prevent the Obama Administration from implementing the overtime rule.       In addition to Appropriations Committee action, Rep. Kurt Schrader (D-OR) introduced the on July 14. This legislation would require the Labor Department to phase-in the overtime pay threshold over three years..

Pool Safety: Water Wise… December 16, 2019

Fun, sun and safety: HAA’s 2016 Water Wise Program  By Sidney Phillips, HAA Intern  Many Houstonians will be grabbing theirbathing suits and sunscreen to the beach, lake or local swimming pool thissummer. However, a fun day in the water can turn into an absolute tragedy formany parents of young children.   Drowning rates typically increase aroundIndependence Day weekend. So before children begin jumping or cannonballinginto community pools, it’s important that apartment owners, apartment managersand parents stay vigilant and educate children on proper pool safety.  According to the Center for DiseaseControl, unintentional drowning claims the lives of an estimated 3.882 peopleeach year in the United States, averaging 10 deaths per day.  Young children are at the greatest riskof drowning, as it remains the second leading cause of death among ages 1-14years old.  Not to mention, forevery one child that dies from drowning, another five require emergency roomcare.    In Texas, 51 children have already drownedthis year with 11 fatalities in the Greater Houston Area alone.  To combat the threat of drowningaccidents, the Houston Apartment Association has maintained a 10 year partnershipwith the YMCA to create the Water Wise Program.  The initiative provides free swimming lessons to children inparticipating Houston area apartments, and works to educate parents of propersafety precautions.    Thanks to the generosity of membercommunities, over the past nine years, the program has taught swimming lessonsto over 9,000 children, free of charge. This year HAA hopes to reach another 1,000 kids, across 80 differentlocations.    For more information about the WaterWise program, visit . Toprevent drowning..

How To Market Your… December 15, 2019

Tip 5.LocationIn some markets prospects have drive times from work of more than more than 20+ miles to visit and live in a apartment community they trust. One of the reasons Reviews are so important is that prospects will inquire based on reviews and how far they have to drive to visit. Do you know your ?  Do you include a link or actual reviews in your elead responses?Marketing Tip: Conquest major employers from areas outside your primary market based on zip code and city. See more Prev: Back: Next:

How To Market Your… December 15, 2019

Tip 5.LocationIn some markets prospects have drive times from work of more than more than 20+ miles to visit and live in a apartment community they trust. One of the reasons Reviews are so important is that prospects will inquire based on reviews and how far they have to drive to visit. Do you know your ?  Do you include a link or actual reviews in your elead responses?Marketing Tip: Conquest major employers from areas outside your primary market based on zip code and city. See more Prev: Back: Next:

Apartment Marketing: Website Tool December 15, 2019

is one of the leading “heatmap analytics” solutions (others include and ). Heatmaps are visual representations of how visitors interact with your site and help you understand what visitors are looking for, what they care about, and how well your site meets their expectations. Many marketers find this visual approach to website analytics is more intuitive and easier to understand than the complex charts and graphs reported by the more conventional website analytics tools.Evolving beyond simply presenting heatmaps, Hotjar now includes a wide range of analytical tools, including individual visitor session recordings (allowing you to watch everything a visitor did while using your site, including mouse clicks/movements, page scrolling, and much more), tracking conversion funnels, and form performance analysis. Hotjar also includes easy-to-use tools to proactively solicit feedback from your site visitors via feedback forms, polls, and surveys.Hotjar offers a free basic offering, with paid plans starting at $29/month for sites logging up to 10,000 daily pageviews. To get started, . See more Prev: Back: Next:

Apartment Marketing: Website Tool December 15, 2019

is one of the leading “heatmap analytics” solutions (others include and ). Heatmaps are visual representations of how visitors interact with your site and help you understand what visitors are looking for, what they care about, and how well your site meets their expectations. Many marketers find this visual approach to website analytics is more intuitive and easier to understand than the complex charts and graphs reported by the more conventional website analytics tools.Evolving beyond simply presenting heatmaps, Hotjar now includes a wide range of analytical tools, including individual visitor session recordings (allowing you to watch everything a visitor did while using your site, including mouse clicks/movements, page scrolling, and much more), tracking conversion funnels, and form performance analysis. Hotjar also includes easy-to-use tools to proactively solicit feedback from your site visitors via feedback forms, polls, and surveys.Hotjar offers a free basic offering, with paid plans starting at $29/month for sites logging up to 10,000 daily pageviews. To get started, . See more Prev: Back: Next:

2019 Update on Apartment… December 14, 2019

Just like our year has four seasons during which temperatures rise and fall, the real estate market has four general cycles during which prices rise and fall; but while spring, summer, fall, and winter last only a few months, cycles in the real estate market last longer—seven to ten years. Keep in mind that these cycles are normal functions of dynamic markets and are affected by factors within those markets.Of the four market cycles, two represent appreciating markets and two represent declining markets. The two appreciating market cycles are called Recovery and Expansion. The two declining market cycles are called Hyper-supply and Recession. The main characteristics driving market cycles are vacancy rates, new construction, employment growth and rental rate growth. Now, let’s take a closer look at the four general market cycles and what goes on in each of them.To read the full report from Irr visit Irr.com Expansion Expansion is an exciting market cycle because it’s where the economy starts to get rolling again. You’ll start to see vacancy rates decreasing and a little new construction at first with a great deal more toward the end of the cycle. Absorption rates pick up as more people go back to work or upgrade jobs, and the pickup in income brings moderate to high growth rates in rents. Property values start increasing until the end of the cycle where they’ll peak. Investors want to buy at the beginning or middle of this cycle and sell toward the end (when property values peak) before the market starts declining..

2019 Update on Apartment… December 14, 2019

Just like our year has four seasons during which temperatures rise and fall, the real estate market has four general cycles during which prices rise and fall; but while spring, summer, fall, and winter last only a few months, cycles in the real estate market last longer—seven to ten years. Keep in mind that these cycles are normal functions of dynamic markets and are affected by factors within those markets.Of the four market cycles, two represent appreciating markets and two represent declining markets. The two appreciating market cycles are called Recovery and Expansion. The two declining market cycles are called Hyper-supply and Recession. The main characteristics driving market cycles are vacancy rates, new construction, employment growth and rental rate growth. Now, let’s take a closer look at the four general market cycles and what goes on in each of them.To read the full report from Irr visit Irr.com Expansion Expansion is an exciting market cycle because it’s where the economy starts to get rolling again. You’ll start to see vacancy rates decreasing and a little new construction at first with a great deal more toward the end of the cycle. Absorption rates pick up as more people go back to work or upgrade jobs, and the pickup in income brings moderate to high growth rates in rents. Property values start increasing until the end of the cycle where they’ll peak. Investors want to buy at the beginning or middle of this cycle and sell toward the end (when property values peak) before the market starts declining..

Marcus & Millichap arranges… December 14, 2019

, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Bayside Condos, a 12-unit apartment property located in Eustis, FL, according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $965,000. Ryan Wooden, Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. “Eustis is one of the fastest-growing towns in the “Golden Triangle” of Lake County. Our marketing campaign capitalized on the market’s sustained growth and the property’s proximity to AdventHealth Waterman Hospital, the region’s largest employment center, to secure a record-setting price per unit for the Seller,” Wooden says. Bayside Condos is located at 900 North Bay Street in Eustis, Fla. Eustis, Florida is in Lake County, 40 minutes to both Orlando or Ocala and a few blocks from Downtown Eustis. The offering conveyed a 100 percent interest in the condominium, creating the opportunity for the owner to run a traditional apartment community or to sell the individual units as an exit strategy. Originally built in 1982, Bayside Condos was well-maintained under the previous 7-year ownership. This 12-unit, two-story building with a pitched shingle roof and two firewalls, sits on acre site which features an off-street private parking lot. Mature trees line the perimeter of the property, providing shade for the front and privacy for the back patios/balconies. Units are all two-bedroom, one-bathroom,..

Late Fee Information Resources December 14, 2019

Here are some links to Texas Apartment Association resources regarding late fees: Related posts: