When it comes to accepting electronic or online rent payments, every property management company (PMC) wants the same things: maximum convenience and choice for residents at minimal cost to property owners and staff. More than ever before, residents demand the ability to pay online – or even with their mobile phones – any way they choose.
As PMCs adapt to changing resident demand, convenience fees have become a key component of the industry’s payments strategy. Many PMCs now charge a convenience fee to offset their processing costs – especially for more expensive credit or debit card transactions. When formulating a payments strategy, it’s important to understand the rules governing convenience fees, as well as the impact of convenience fees on transaction volume, before determining the best strategy for your communities.
Read more...Property Management: The Impact of Convenience Fees on Online Payments | Property Management Insider
Thursday, May 31, 2012
Riverstone to Report Resident Rental Payment History to Experian via Multifamily Executive Magazine
Dallas-based Riverstone Residential Group announced Wednesday that all of its properties will now report resident payments to Experian RentBureau, a company that collects updated rental histories from property management companies every 24 hours and makes its rental history data available to other multifamily owners and managers.
Riverstone argues that storing this data will encourage residents to pay their rent on time. It will identify residents who might have great credit but delinquent rents payments, but also those who have poor credit but always pay their rent on time. Mark Stringer , senior vice president of Riverstone Screening Services and Riverstone Receivables, thinks collecting this information is a positive move for the company.
Read more...Riverstone to Report Resident Rental Payment History to Experian - Rent Trends - Multifamily Executive Magazine
Riverstone argues that storing this data will encourage residents to pay their rent on time. It will identify residents who might have great credit but delinquent rents payments, but also those who have poor credit but always pay their rent on time. Mark Stringer , senior vice president of Riverstone Screening Services and Riverstone Receivables, thinks collecting this information is a positive move for the company.
Read more...Riverstone to Report Resident Rental Payment History to Experian - Rent Trends - Multifamily Executive Magazine
Industry Experts Reveal Current Trends in Apartment Living via NAHB
The location of an apartment building remains the most important feature for renters when choosing where they want to live, according to industry experts during a recent webinar hosted by the National Association of Home Builders (NAHB). The experts also discussed key market trends emerging in interior, exterior and outdoor living and how generational differences affect apartment design.
Multifamily builders and developers are focusing more on urban projects that are near public transportation hubs as Millennials—the largest segment of the renting population—want to spend less time commuting and more time creating a balance between career and lifestyle.
Read more...NAHB: Industry Experts Reveal Current Trends in Apartment Living
Multifamily builders and developers are focusing more on urban projects that are near public transportation hubs as Millennials—the largest segment of the renting population—want to spend less time commuting and more time creating a balance between career and lifestyle.
Read more...NAHB: Industry Experts Reveal Current Trends in Apartment Living
Multifamily Housing Construction to Remain Strong via MultifamilyBiz.com
TD Economics, an affiliate of TD Bank, America's Most Convenient Bank, released a new research report outlining the positive prospects for the U.S. multifamily housing market.
Between 2009 and 2011, nationwide multifamily housing starts rose 59% while single family starts declined 2% as high unemployment, falling home prices and increased foreclosures strengthened rental demand. According to the TD Economics report, favorable demographics and years of underinvestment have primed the South Atlantic for a sustained rebound in multifamily housing construction. Meanwhile, the Northeast is also on a path of recovery, but will lack the South Atlantic's vigor because of slower population growth and lower rates of household formation.
Read more...Multifamily Housing Construction to Remain Strong - Multifamily News Headlines – Breaking News, Stories, Top Headlines :: MultifamilyBiz.com
Between 2009 and 2011, nationwide multifamily housing starts rose 59% while single family starts declined 2% as high unemployment, falling home prices and increased foreclosures strengthened rental demand. According to the TD Economics report, favorable demographics and years of underinvestment have primed the South Atlantic for a sustained rebound in multifamily housing construction. Meanwhile, the Northeast is also on a path of recovery, but will lack the South Atlantic's vigor because of slower population growth and lower rates of household formation.
Read more...Multifamily Housing Construction to Remain Strong - Multifamily News Headlines – Breaking News, Stories, Top Headlines :: MultifamilyBiz.com
The Road Ahead: Economic Outlook via CPExecutive.com
Little has occurred in the first part of 2012 to alter the view that the recovery of the real estate industry will be a long, hard slog. “My belief is we’re still in the third inning of a nine-inning game,” said Howard Roth, head of Ernst & Young’s commercial real estate advisory practice. The consensus view of most economists is that growth will finally start picking up speed in 2014.
Many economists expect a return to robust economic growth by 2014. The Urban Land Institute’s most recent survey of real estate economists projects a 50 percent increase in transaction volume by 2014 as CMBS volume doubles over the same period. Vacancy rates will drop between 1.2 and 3.7 percent for office, retail and industrial and remain low for multi-family properties.
Read more...The Road Ahead: Economic Outlook via CPExecutive.com
Many economists expect a return to robust economic growth by 2014. The Urban Land Institute’s most recent survey of real estate economists projects a 50 percent increase in transaction volume by 2014 as CMBS volume doubles over the same period. Vacancy rates will drop between 1.2 and 3.7 percent for office, retail and industrial and remain low for multi-family properties.
Read more...The Road Ahead: Economic Outlook via CPExecutive.com
Wednesday, May 30, 2012
Top 25 Financial Intermediaries in Commercial Real Estate via NREIonline.com
The following rankings are based on responses to NREI’s 21st annual Top Lenders Survey and reflect total dollars financed or arranged in commercial real estate during the 2011 calendar year.
Read more...Top 25 Financial Intermediaries in Commercial Real Estate Top 25 Direct Lenders in Commercial Real Estate via NREIonline.com
Read more...Top 25 Financial Intermediaries in Commercial Real Estate Top 25 Direct Lenders in Commercial Real Estate via NREIonline.com
Top 25 Direct Lenders in Commercial Real Estate via NREIonline.com
The following rankings are based on responses to NREI’s 21st annual Top Lenders Survey and reflect total dollars financed or arranged in commercial real estate during the 2011 calendar year.
Read more...Top 25 Direct Lenders in Commercial Real Estate via NREIonline.com
Read more...Top 25 Direct Lenders in Commercial Real Estate via NREIonline.com
HUD Issuing New Physical Needs Assessment & Energy Audit Requirements via GlobeSt.com
New requirements are on the way for how HUD Public Housing Authorities are to conduct Physical Needs Assessments and Energy Audits. The U.S. Department of Housing and Urban Development’s (HUD) Office of Public and Indian Housing is issuing a rule in summer 2012 to require synchronization of Energy Audits and Physical Needs Assessments into the Green Physical Needs Assessment (Green PNA), and will require measurement of the cost effectiveness of energy conservation measures.
Under current requirement 24 CFR 905 & CFR 965 Subpart C, Public Housing Authorities (PHAs) are required to have an Energy Audit performed every five years and Public housing Authorities greater than 250 units are also required to perform a Physical Needs Assessment every five years, with no minimum staff qualifications to perform either the Energy Audit or PNA. New requirements are requiring all Public Housing Authorities, regardless of size, to perform a Physical Needs Assessment in conjunction with an Energy Audit every five years.
Read more...GlobeSt.com - HUD Issuing New Physical Needs Assessment and Energy Audit Requirements - The Science of Real Estate Article
Under current requirement 24 CFR 905 & CFR 965 Subpart C, Public Housing Authorities (PHAs) are required to have an Energy Audit performed every five years and Public housing Authorities greater than 250 units are also required to perform a Physical Needs Assessment every five years, with no minimum staff qualifications to perform either the Energy Audit or PNA. New requirements are requiring all Public Housing Authorities, regardless of size, to perform a Physical Needs Assessment in conjunction with an Energy Audit every five years.
Read more...GlobeSt.com - HUD Issuing New Physical Needs Assessment and Energy Audit Requirements - The Science of Real Estate Article
Delinquency Rate Hits All-Time High for CMBS via WSJ
A surge in maturities for troubled loans has pushed the delinquency rate for commercial mortgage-backed securities to an all-time high of 10.04% for May, according to a loan-research service.
That’s the first time the rate passed the 10% mark, fed largely by five-year loans that were made in 2007 — when standards were at their weakest — and are now coming due, according to Trepp LLC. Landlords have had difficulty paying these off given that standards and values are far more stringent now, with more properties falling into default. (Loans are delinquent when at least 30 days past due.)
Tens of billions of commercial-property loans that were securitized have run into trouble in recent years, as a drop in rents and values during the downturn pushed many landlords into trouble, unable to pay off their debts.
Read more...Delinquency Rate Hits All-Time High for CMBS - Developments - WSJ
That’s the first time the rate passed the 10% mark, fed largely by five-year loans that were made in 2007 — when standards were at their weakest — and are now coming due, according to Trepp LLC. Landlords have had difficulty paying these off given that standards and values are far more stringent now, with more properties falling into default. (Loans are delinquent when at least 30 days past due.)
Tens of billions of commercial-property loans that were securitized have run into trouble in recent years, as a drop in rents and values during the downturn pushed many landlords into trouble, unable to pay off their debts.
Read more...Delinquency Rate Hits All-Time High for CMBS - Developments - WSJ
DFW's rapid population growth puts it atop nation's metros via Dallas Business Journal
Don't blink. You might miss the new person coming to the Dallas-Fort Worth area.
According to an analysis of data from the U.S. Census Bureau by On Numbers, the Dallas-Fort Worth metropolitan area gains another person every four minutes and 10 seconds. That makes DFW the fastest-growing metropolitan area in the nation, according to On Numbers.
Dallas-Fort Worth added 126,037 residents between July 1, 2010, and the same date in 2011, said On Numbers, which used those estimates to generate daily growth rates for the country's top 366 metropolitan areas.
Read more...DFW's rapid population growth puts it atop nation's metros - Dallas Business Journal
According to an analysis of data from the U.S. Census Bureau by On Numbers, the Dallas-Fort Worth metropolitan area gains another person every four minutes and 10 seconds. That makes DFW the fastest-growing metropolitan area in the nation, according to On Numbers.
Dallas-Fort Worth added 126,037 residents between July 1, 2010, and the same date in 2011, said On Numbers, which used those estimates to generate daily growth rates for the country's top 366 metropolitan areas.
Read more...DFW's rapid population growth puts it atop nation's metros - Dallas Business Journal
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