Rental Housing Journal Colorado
September 2017 - Vol. 9 Issue 9
2. 3 Ins and Outs of Subletting You Probably Didn't Know 4. Renter Demand for Houses Puts Upward Pressure on Prices
DENVER • COLORADO SPRINGS • BOULDER
www.rentalhousingjournal.com • Professional Publishing, Inc
Monthly Circulation To More Than 7,000 Apartment Owners, Property Managers, On-Site & Maintenance Personnel
3 Low-Cost Incentives To Gain Property Management Training Completion
5 Keys To Investing In Emerging Multifamily Markets By Vinney Chopra
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think it is critical to a multifamily investor to choose the “right” multifamily apartment complex to acquire. One of the most critical aspects of this is to find the right emerging markets. I am diligent in my exploration of opportunities in markets where jobs and local economies are expanding. I will take six months to a year to do the research to determine an emerging market. What is one key? I follow the jobs. What are emerging multifamily markets? Emerging multifamily markets are metro population centers in the U.S., and around the world, where there is
By Ellen Clark
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e all know the value of training. For companies, it can reduce risk and increase the bottom line. For employees, it provides valuable job skills and opportunities for career advancement. For customers, good employee training improves their experience and overall satisfaction. But human nature is a funny thing. Even when we know something is good for us, we don’t always make the time or effort to do it. Did you eat five servings of fruits and vegetables yesterday? Did you get the recommended amount of exercise last week? Understanding the benefits of healthy habits doesn’t make it easier to fit them into our busy lives. The same goes for training. As with diet and exercise, some people are naturally motivated to do what’s good for them. In the training world, these are your superstars – the people you never have to beg to complete training. And then there are the rest of us, who need an external nudge to complete training on time (or maybe at all). Incentives can be an effective way to get employees to move training to the
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continued on page 4
a strong demand for housing. And, properties are significantly increasing in value. In these areas, more jobs are being created and where you have more jobs, you have more people. This creates a pent-up demand for housing, including apartments and single-family homes plus other support services and businesses. What happens in areas where larger businesses are relocating or expanding? New jobs are being created Appealing lifestyles are emerging Rental potential increases Retail shopping centers and services are needed to meet growing population continued on page 5
8 Big Housing Changes Driverless Cars Could Bring By The Editors
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ully autonomous vehicles (AVs), or driverless cars, should become commonplace within 10 to 20 years, disrupting entire industries while triggering structural shifts in housing and the economy, according to new research from John Burns Real Estate Consulting. “The path to government approval and consumer acceptance of AVs will have hiccups no doubt, so we expect ride-sharing along with semiautonomous vehicles to kick-start the movement towards AVs,” writes Rick Palacios Jr. Director of Research. For consumers, the tipping point for large-scale adoption will come when not owning a car makes more financial and logistical sense than traditional ownership. Car enthusiasts, the affluent, and rural households will continue to own cars as AVs or driverless cars evolve. Regardless of the adoption rate, AVs are the future.
So what impact will AVs, or driverless cars, and ride-sharing have on the housing market? “We think a big one. Increases in disposable income and productivity from AVs should drive overall economic growth higher, a positive for housing,” Palacios writes. “A portion of the money once allocated to owning/leasing a car should also free up for owning/renting a home. Here are some of the additional housing shifts we anticipate” as a result of AVs: No. 1 – Prime real estate unlocked New land will be available for new home construction as parking lots, auto dealerships and gas stations become obsolete. Additional supply in historically supply constrained locations will likely dampen home price appreciation and alleviate housing shortages in many cities. Due continued on page 7
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