News Feeds (RSS) http://naiblackblog.com/?p=386 http://naiblackblog.com/2020/04/property-managers-how-to-handle-the-influx-of-package-deliveries/ Property Management Apartments coronavirus e-commerce multifamily property management real estate Property Managers: How to Handle the Influx of Package Deliveries Welcome to the age of e-commerce. The contemporary digitized shopping module is impacting commercial real estate in more areas than just retail and industrial &#8211; it&#8217;s also having strong impacts on multi-family. Multi-family tenants rely on massive online realtors, such as Amazon, meaning more packages are coming through the door &#8211; and they all need [&#8230;] Fri, 03 Apr 2020 17:14:08 Z http://naiblackblog.com/2020/04/property-managers-how-to-handle-the-influx-of-package-deliveries/#respond NAIBlack-Blog <p>Welcome to the age of e-commerce. The contemporary digitized shopping module is impacting commercial real estate in more areas than just retail and industrial &#8211; it&#8217;s also having strong impacts on multi-family. </p> <p>Multi-family tenants rely on massive online realtors, such as Amazon, meaning more packages are coming through the door &#8211; and they all need to be processed through the building&#8217;s centralized mail circuit. </p> <p>A few years ago, this wasn&#8217;t much of a stressor for management. However, the times have certainly changed and the sheer number of online orders isn&#8217;t what it used to be. </p> <p>According to data from E-Marketer, by 2023 the global e-commerce industry is anticipated to exceed $6.5 billion. This change has happened so quickly it&#8217;s left multi-family managers struggling to keep up. </p> <p>Multi-family property managers are facing an unprecedented volume of package deliveries where both the frequency of deliveries and the number of boxes have been exponentially increased. The heat is on &#8211; and, with e-commerce on the rise, it&#8217;s only expected to intensify. </p> <p>It&#8217;s time to get the situation under control before it gets out of hand. Use these 4 tips to stay organized. </p> <p><strong>Let Tech Lend a Hand</strong></p> <p>At this point, it&#8217;s a good time to invest in technologies. Technology is playing a pivotal role in supporting today&#8217;s quota of package deliveries. </p> <p>There are tons of ways tech can be weaved into the package delivery process &#8211; be it at the front door for mailmen, through a community app that alerts tenants to their delivery, or a digitally delivered safe code key that needs to be shown to retrieve a package. </p> <p>Don&#8217;t get overwhelmed with the possibilities for tech integration. The options are nearly endless, but focus on what matters most for your community needs. Property managers should take a deeper look at their specific issues and employ tech to their primary pain points. </p> <p><strong>Consider Expanding the Mail Room</strong></p> <p>If your property&#8217;s mail room is already feeling cramped, it may be time to invest in a renovation. Expanding the mail room is a must in order to accommodate packages &#8211; which are increasing in both number and size. </p> <p><strong>Hire More On-Site Team Members </strong></p> <p>At this point, the package delivery system has gotten so intense that it may be time to start growing your team. </p> <p>Increasing the number of people on-site can help alleviate the pressures of accommodating for the frequent deliveries happening daily. In fact, some property managers even find it necessary to create a position specifically to handle the influx of e-commerce packages. </p> <p><strong>Delivery Lockers Assure Safety and Security </strong></p> <p>No property management team wants to incur the wrath of a tenant who can&#8217;t locate their package. Mail room discrepancies are becoming a big issue for management teams that are struggling to mitigate the organization and security issues that accompany e-commerce deliveries. </p> <p>In order to avoid these issues, delivery lockers are helping keep packages safe and secure. These unit-specific lockers are a safe house for e-commerce orders until their owners can come down and pick them up. This lock-and-key option is superior to leaving the package sitting out in the open. </p> <p>These 4 tips are set to help streamline the added load of package deliveries to multi-family properties &#8211; mitigating the stress from the management. </p> http://naiblackblog.com/2020/04/property-managers-how-to-handle-the-influx-of-package-deliveries/feed/ 0 386 2020-04-03 17:14 +00:00 2020-04-03 12:14 -05:00 http://naiblackblog.com/?p=381 http://naiblackblog.com/2020/03/5-ways-to-become-a-better-commercial-real-estate-landlord/ Property Management commercial real estate landlord property management real estate 5 Ways to Become a Better Commercial Real Estate Landlord These days, being a commercial real estate landlord is tough. As business gets more diverse, it’s not easy to upkeep, manage and overlook commercial properties and their tenants. Whether you own a multifamily, office, or retail property, perfecting the role as a landlord can elevate your asset to a whole new level. Fortunately, there are [&#8230;] Wed, 25 Mar 2020 20:09:36 Z NAIBlack-Blog <p>These days, being a commercial real estate landlord is tough. As business gets more diverse, it’s not easy to upkeep, manage and overlook commercial properties and their tenants. Whether you own a multifamily, office, or retail property, perfecting the role as a landlord can elevate your asset to a whole new level.</p> <p>Fortunately, there are strategies that can help overcome the industry’s prominent pain points and boost the CRE landlord workflows. </p> <p>If you’re ready to improve and upgrade your commercial landlord skills, check out these 5 winning tips:</p> <p><strong>Get Tech Savvy </strong></p> <p>Technology is here, and at this point, there’s really no way around it. </p> <p>Commercial landlords need to embrace the latest cutting-edge technologies that are dominating the field and reshaping the industry as a whole. Not only will it make the day-to-day tasks easier, but it will also appeal to contemporary tenants who expect tech to be a part of their landlord’s process. </p> <p>Don’t lag behind &#8211; fuel your commercial property with the tools necessary to succeed in today’s competitive marketplace. Smart technologies, IoT and data analysis servers are all great ways to bring your landlord workflow into the present. </p> <p><strong> Check-In With Tenants</strong></p> <p>Communication is key. Today’s tenants want to feel understood, respected, and most of all &#8211; heard. Landlords can benefit greatly by opening up a channel of communication between the tenants and property management. </p> <p>Consider sending a bi-weekly or monthly email to touch base with your tenants, cover any pressing topics, and ensure that everything is going well. Remember, you don’t want to be overwhelming &#8211; but you don’t want to seem absent, either. </p> <p><strong>Consider Going Paperless</strong></p> <p>Making the decision to go paperless can save landlords time, money, and energy &#8211; especially when it comes to commercial properties. Going paperless is a great way to stay organized and consolidate all of the piles of paper into one neat and easy-to-access gateway. Plus, you’ll be doing something positive for the environment by cutting down on consuming paper products &#8211; <a href="https://www.theworldcounts.com/stories/Paper-Waste-Facts">the majority of which gets wasted the very same day. </a></p> <p><strong>Create a Community Around the Property </strong></p> <p>In today’s world, it’s all about community. </p> <p>Commercial landlords can go beyond a mere property-based module by creating a community around their assets. Since many commercial properties, such as multifamily or office, are home to multiple tenants; everyone can benefit from cultivating feelings of togetherness and solidarity. </p> <p>Happy tenants usually mean a happy landlord, so it never hurts to go out of your way to improve the tenant experience. Establish a community culture around your properties to boost tenant enthusiasm and engagement.&nbsp; </p> <p><strong>Keep it Simple </strong></p> <p>Sometimes, it’s the simple things that yield the best results. When it comes to being a commercial landlord, don’t over-complicate things. </p> <p>At the end of the day, the most important point is to ensure that the property is running smoothly, the tenants are satisfied, and you’re not overwhelmed by the workload. In today’s world, commercial property owners can greatly benefit from being flexible, patient, and understanding. Employing these strategies will help commercial landlords remain current amidst the changing tides of contemporary business. </p> 381 2020-03-25 20:09 +00:00 2020-03-25 15:09 -05:00 http://naiblackblog.com/?p=375 http://naiblackblog.com/2020/03/how-malls-will-attract-consumers-in-2020/ Commercial Real Estate How Malls Will Attract Consumers in 2020 Malls have had a tough run for the past few years. Once the wave of mass store closures that caused the &#8216;retail apocalypse&#8217; scare hit, shopping malls took the brunt of it. In the blink of an eye, mall assets became empty and vacancy rates were on the rise. Many of us have been thinking [&#8230;] Sat, 07 Mar 2020 00:44:35 Z NAIBlack-Blog <p>Malls have had a tough run for the past few years. Once the wave of mass store closures that caused the &#8216;retail apocalypse&#8217; scare hit, shopping malls took the brunt of it. </p> <p>In the blink of an eye, mall assets became empty and vacancy rates were on the rise. Many of us have been thinking that the shopping mall model was &#8216;dead&#8217; and didn&#8217;t have much hope to be revived. </p> <p>However, in the latter half of 2019 things began to change. Brands announced their return to the mall scene after re-configuring their strategies to accommodate the new era of retail. But what does this mean for malls? </p> <p>The biggest question on everyone&#8217;s mind is about the value proposition that malls have to offer to contemporary shoppers. What exactly will draw consumers into shopping malls this year? Whatever it is, it would have to be incredibly appealing &#8211; and so far, the developments are gearing up to be just that. </p> <p>Here are 6 trending things that will be driving shoppers back into malls in 2020: </p> <p><strong>Brand-Specific Storefronts</strong></p> <p>Successful brands are evacuating big department stores and taking their own stand as small, independent storefronts. </p> <p>Retail companies are using these smaller locations to boost brand identity and establish a greater culture around their services. It&#8217;s chic, exclusive, and very attractive. The store&#8217;s aesthetics are concise, harmonious and sleek &#8211; which is everything that today&#8217;s shoppers love. </p> <p>These smaller spaces also give brands the chance to boost consumer engagements and interact with shoppers on a one-on-one level. It&#8217;s providing a customized retail experience that is all the rage in today&#8217;s market. </p> <p><strong>Pop-Up Events</strong></p> <p>Specialty events will be another big perk for shopping malls. Pop-up shops and events will be a main strategy to attract people back to malls. Whether it&#8217;s a brand-specific event or a mall-wide occasion, these pop-ups can be broadcasted across social media with enticing graphics that are sure to spark the interest of shoppers. </p> <p><strong>BOPIS Options</strong></p> <p>Online shopping will be collaborating with physical retail through BOPIS &#8211; buy online pickup in store. </p> <p>The option to get online purchases instantly via a pick-up counter in and brick-and-mortar location is appealing to shoppers. And, once they are in the mall, it&#8217;s likely that they will make additional purchases. It&#8217;s a great tactic to drive traffic into shopping centers. </p> <p><strong>Experiences Galore </strong></p> <p>There&#8217;s one thing that can never be delivered through the online-shopping module, and that&#8217;s an in-person experience. Malls are adopting experiential amenities anywhere they can. This trend is all about harnessing the tactile, social, and leisurely aspects of shopping. </p> <p><strong>Tech Integrations </strong></p> <p>Technology will also be playing a big role in boosting malls this year and beyond. </p> <p>AI and automation can be applied in many different ways to improve the shopping experience. Plus, technology is cutting-edge and cool. Investing in tech tools, such as increased security or augmented-reality dressing rooms, will be key additions to today&#8217;s malls. </p> <p><strong>Going Beyond Retail </strong></p> <p>Finally, malls will be extending far beyond mere retail in 2020. Expect to see gaming centers, spas, fitness boutiques, entertainment options, high-class dining, and other attractions popping up within malls. These locations have more to offer than just shopping &#8211; making it fun for everyone. </p> <p>These 6 trends will be reshaping malls in 2020 and beyond. </p> 375 2020-03-07 00:44 +00:00 2020-03-06 18:44 -06:00 http://naiblackblog.com/?p=371 http://naiblackblog.com/2020/02/are-skilled-labor-shortages-killing-multifamily-deals/ Commercial Real Estate Are Skilled Labor Shortages Killing Multifamily Deals? Multifamily has been a popular commercial real estate sector for the past few years. Investor interest was high, new developments were in the works in major cities throughout the country, and vacancy rates were dwindling. However, this positive outlook is starting to experience opposite pressures. The rising construction costs that plagued the industry in 2019 [&#8230;] Tue, 04 Feb 2020 23:06:46 Z NAIBlack-Blog <p>Multifamily has been a popular commercial real estate sector for the past few years. Investor interest was high, new developments were in the works in major cities throughout the country, and vacancy rates were dwindling. </p> <p>However, this positive outlook is starting to experience opposite pressures. The rising construction costs that plagued the industry in 2019 are still making it difficult and expensive to build new multifamily developments. </p> <p>But, it&#8217;s not the only high building costs that are inhibiting new multifamily projects. It&#8217;s also a skilled labor shortage within the construction industry. Developers and investors are having a difficult time finding professional, experienced, and talented building teams to construct their new projects. </p> <p>So what does this mean for the CRE business? Here&#8217;s what commercial real estate investors, developers and property owners should be watching for in the multifamily arena: </p> <p><strong>Skilled Laborers are Far and Few in Between</strong></p> <p>The construction industry&#8217;s skilled labor shortage is beginning to cause issues for commercial real estate&#8217;s multifamily arena. But, it begs us all to question what exactly is causing the shortage. </p> <p>According to industry experts, the current labor shortage is being caused by a large wave of retirements within the building industry. Many skilled construction professionals are coming of age and making their exit &#8211; and it&#8217;s all happening at a time when they&#8217;re needed more than ever. </p> <p>Another reason why skilled labor is hard to come by these days is the large number of laborers who took their leave during the recession. When things got difficult, many skilled laborers chose not to stick around. This decision still stands as a great loss for construction as a whole. </p> <p>While retirement and other fluctuations are normal for every business, this current phase is not being balanced out by an equal number of new skilled laborers hitting the scene. The volume of skilled laborers exiting the construction industry is far greater than the addition of new ones making their entrance. </p> <p>This industry-wide uneven progression is causing a large-scale shortage of skilled labor is making it difficult to get new multifamily projects to move forward into the building and development stages. </p> <p>Attracting new laborers is imperative for both the construction and multifamily industries in 2020. </p> <p><strong>Small Markets Take the Biggest Hit </strong></p> <p>The widespread labor shortages are most heavily impacting smaller markets around the country. When faced with sky-rocketing building costs and skilled labor shortages, small local economies are often unable to foot the bill for new multifamily developments. </p> <p>Multifamily developments set in suburban locations are already at a disadvantage as the local labor pools are smaller than in big metros. The smaller the population of laborers, the more the shortage is making an impact on the local scene&#8217;s multifamily markets. </p> <p><strong>Don&#8217;t Lose Hope: Experts Say a Turnaround is Ahead</strong></p> <p>While the outlook may seem bleak, commercial real estate experts are anticipating things to turn around in 2020. The shortage of skilled labor is causing a need in the construction industry, which means lots of opportunities for business. </p> <p>It won&#8217;t be long for more skilled labor companies to hit the scene and take advantage of the unfulfilled market. </p> <p>Make sure to consider this 2020 CRE trend in your multifamily deals and strategies. </p> 371 2020-02-04 23:06 +00:00 2020-02-04 17:06 -06:00 http://naiblackblog.com/?p=362 http://naiblackblog.com/2020/01/heres-how-the-smart-city-has-changed-in-the-last-year/ Commercial Real Estate 5G commercial real estate IoT real estate smart sustainability technology Here’s How the Smart City Has Changed in the Last Year The Smart revolution is upon us. Smart phones, Smart devices, Smart houses, Smart buildings; the list continues. We&#8217;re in a seemingly never-ending progression towards all things Smart &#8211; and the development reaches its peak capacity with Smart Cities. These tech-powered metropolitan locations represent the height of contemporary technologies. All things digital come together to create [&#8230;] Thu, 23 Jan 2020 00:22:33 Z NAIBlack-Blog <p>The Smart revolution is upon us. Smart phones, Smart devices, Smart houses, Smart buildings; the list continues. We&#8217;re in a seemingly never-ending progression towards all things Smart &#8211; and the development reaches its peak capacity with Smart Cities. </p> <p>These tech-powered metropolitan locations represent the height of contemporary technologies. All things digital come together to create a seamless net of information, innovation, and evolution. </p> <p>In the last year alone, Smart cities have undergone progress at an inconceivable rate. What was once impossible is now the norm in the globe&#8217;s biggest Smart cities such as New York City, Paris, Tokyo, Reykjavik, Seoul, and London. </p> <p>Sit back, relax, and get caught up. Here&#8217;s how the Smart City module has changed during 2019: </p> <p><strong>Advanced 5G Connectivity </strong></p> <p>5G is here. Although we&#8217;re already pretty familiar with this cool new tool, it&#8217;s important to remember that 5G wasn&#8217;t around a year ago. </p> <p>The introduction to 5G made a massive impact on Smart cities because they are some of the only locations where this new capacity can truly show off all that it can do. While 5G is everywhere, it isn&#8217;t able to run at full-throttle in rural areas as it does in big metros &#8211; and of course, Smart cities. </p> <p>In order for 5G to support the increased data transmissions and Cloud-powered storage capabilities, there needs to be a large-scale tech infrastructure in place. WiFi emitters, satellites, sensors, cameras and tons of wiring are all needed to fuel 5G&#8217;s best performance. </p> <p>Fortunately, all of this can be found in Smart cities. 5G is able to deliver all that it promises in the world&#8217;s most advanced tech hubs. </p> <p><strong>Hello, Internet of Things</strong></p> <p>Along with 5G came the IoT. </p> <p>The Internet of Things is an extensive web of digital tools that use UIDs, or unique identifiers, to transmit information to one main network conglomerate. The IoT enables instantaneous data transfers that are completely hands-free &#8211; meaning that people have (almost) nothing to do with it. </p> <p>The IoT&#8217;s advanced capacity has given rise to truly Smart buildings and cities. </p> <p><strong>Eco-Friendly Everything</strong></p> <p>Smart cities aren&#8217;t just focused on progress. They strive for sustainability, too. Contemporary Smart cities have adopted an eco-friendly approach in 2019 with great results. </p> <p>The data, technologies, and Smart tools that make up Smart cities all work to reduce waste, lower carbon emissions and cut back on pollution. Thanks to advanced sensors and data analysis systems, buildings are optimizing the way they use their resources. </p> <p>The interconnected design of Smart cities enables them to overcome environmental challenges that plague other cities around the world. </p> <p>Smart cities are the apex of the global race towards all things Smart, and the marathon continues into 2020 and beyond. Keep your eyes on the evolving Smart cities &#8211; you won&#8217;t want to miss this. </p> 362 2020-01-23 00:22 +00:00 2020-01-22 18:22 -06:00 http://naiblackblog.com/?p=355 http://naiblackblog.com/2020/01/transit-proximity-and-its-impact-on-office-and-multifamily/ Commercial Real Estate commercial real estate Development multi-family office traffic transit Transit Proximity and its Impact on Office and Multifamily Transportation is a fundamental aspect of any metropolitan plan. Getting people to and from their destinations is a primary concern for cities, where accessibility and smart planning are keys to success. In many of the country&#8217;s greatest cityscapes, driving on busy roads is not always the best way to move around. At the same time, [&#8230;] Tue, 07 Jan 2020 22:13:01 Z NAIBlack-Blog <p>Transportation is a fundamental aspect of any metropolitan plan. Getting people to and from their destinations is a primary concern for cities, where accessibility and smart planning are keys to success. </p> <p>In many of the country&#8217;s greatest cityscapes, driving on busy roads is not always the best way to move around. At the same time, public options such as buses, trolleys, trains and subways are getting vamped up with the latest advances in technology. Trains are getting faster, bus routes are becoming more diverse, and subways are getting more secure. </p> <p>Transportation plays a major role in the commercial real estate business &#8211; specifically in the office and multifamily sectors. Let&#8217;s explore the connections between transportation systems and the commercial arena. </p> <p><strong>Transit: Pro or Con for Office and Multifamily?</strong></p> <p>Transit is a key benefit for any office or multifamily asset. People need to be able to easily get to and from the workplace, and multifamily tenants are looking to live in a centralized location that offers convenient transport networks. </p> <p>On the flip side, transit can be a big drawback for office and multifamily when not properly planned. Even the greatest office buildings or multifamily properties will take a hit if they&#8217;re not located in a strategic area &#8211; specifically, one with ample public transportation options. </p> <p>As we can see, transit-based planning is required to optimize a multifamily or office space. </p> <p><strong>Transit is a Major Point of Asset Desirability </strong></p> <p>A large part of creating an attractive CRE asset is thinking about the greater surrounding area. Investors and developers need to consider how team members, tenants and clients will be able to move around the asset. </p> <p>Contemporary multifamily tenants want to feel mobile, well-connected and integrated into the rest of the world. Multifamily properties that have a convenient public transportation system nearby can mobilize this as an advertising point, which will boost resident appeal while also establishing a competitive advantage. </p> <p>To the same effect, offices that are within a reasonable distance to transit systems are more likely to attract business and talented team members. Using this as leverage, investors and developers can market to top-tier tenants. This can help boost overall districts to have notably higher property values. </p> <p><strong>Transit Accessibility is a Must for CRE Investments </strong></p> <p>When it comes to investing in commercial real estate, be sure to consider how transit will impact your overall standings. While transit is often overlooked in investments, experienced investors know it can make all the difference in cultivating success. </p> <p>Investors, make sure you&#8217;re performing due diligence on a potential asset&#8217;s location. When it comes to office and multifamily, it may be a good idea to gear your property shopping towards nearby transit outlets. Even if a transit-oriented property is listed at a higher price point, it&#8217;s overall ROI capacity may make it worth it. </p> <p>The same thing goes for new developments. Driving your efforts towards a transit-accessible location can be a huge advantage for the asset down the line. </p> <p>Don&#8217;t ignore the effects that transit has on commercial investments. For more on the office and multifamily sectors make sure to stay connected with the <a href="http://www.naiglobalnewslink.com/">NAI Global Newslink</a>. </p> 355 2020-01-07 22:13 +00:00 2020-01-07 16:13 -06:00 http://naiblackblog.com/?p=350 http://naiblackblog.com/2019/12/pets-on-property-how-multifamily-managers-can-keep-track/ Property Management Apartments multi-family pets property management Pets on Property: How Multifamily Managers Can Keep Track We all love our four-legged friends, but they can impact a multifamily property. Property managers need to be aware of in-unit animals. The issue of unreported pets is a problem that has long plagued the multifamily industry. Unreported pets can create legal issues, loss of profits, and damage to the property. This complex issue is [&#8230;] Wed, 11 Dec 2019 00:43:33 Z NAIBlack-Blog <p>We all love our four-legged friends, but they can impact a multifamily property. </p> <p>Property managers need to be aware of in-unit animals. The issue of unreported pets is a problem that has long plagued the multifamily industry. Unreported pets can create legal issues, loss of profits, and damage to the property. </p> <p>This complex issue is difficult to address. It&#8217;s easy for residents to hide the fact that they have a pet living with them. More so, tenants who have one registered animal oftentimes will grow their furry family without reporting the new additions. </p> <p>However, there are ways that your multifamily management team can get a hold of this issue. Here are 3 expert tips: </p> <p><strong>Perform Regular Pet Audits </strong></p> <p>Keeping up with on-property pets isn&#8217;t easy. In order to have an accurate gauge on the number of furry-friends on-site, it&#8217;s a good idea to add regular pet audits into the process. </p> <p>There are many ways to go about performing pet audits, some of which are extremely straightforward while others fall under the radar. </p> <p>One option is to add an annual pet audit during the renewal period. When it&#8217;s time to resign that lease, make sure to revisit the issue of in-unit animals. This cuts straight to the point and allows your tenants to register any undocumented pets immediately rather than having to take extra steps.</p> <p>Property managers who are looking to keep the audit low-key have plenty of options, too. </p> <p>One method is to add the audit to the inspection process. When a team member is entering the property for preventative maintenance on plumbing or smoke alarms, have them take note of how many animals are on-site and their characteristics. Once the inspections are complete, you can compare the data they gathered with what&#8217;s on file and see if anything is amiss. </p> <p><strong>Monitor With Surveillance</strong></p> <p>Property managers can use their multifamily surveillance system to see who has what pet. Whether it&#8217;s for a walk, vet appointment, or a trip to the dog park; pet owners will undoubtedly be taking their animals out of the unit. If the property has cameras set up, you should have a recording of the residents and their pets. </p> <p>Try adding a &#8216;pet-watch&#8217; program to the security team&#8217;s surveillance process. It&#8217;s easy to take note of whatever animals you see coming and going from the apartment unit. This is a good hands-off approach to keeping track of pets in multifamily. </p> <p><strong>Use Screening when Approving Residents with Pets</strong></p> <p>Approving multifamily applicants with pets can be a hassle. The management team needs to see if the pet is a good fit for the community, if they meet all of the building&#8217;s pet policies, and any other specific issues. </p> <p>To make this time-consuming step more efficient, use a tech-powered software to help screen your prospective tenants. These screening software&#8217;s streamline the process, all while giving you extremely accurate data and logistics. </p> <p>These three tips will help multifamily managers keep track of the pets living in their communities helping to mitigate liabilities and boost profits. </p> <p>For more industry-leading advice, explore our <a href="http://naiblackblog.com/">blog</a>. </p> 350 2019-12-11 00:43 +00:00 2019-12-10 18:43 -06:00 http://naiblackblog.com/?p=345 http://naiblackblog.com/2019/11/this-is-where-proptech-is-headed-in-2020/ Commercial Real Estate Business commercial real estate proptech real estate spokane technology This is Where PropTech is Headed in 2020 Commercial real estate&#8217;s greatest disrupter is technology &#8211; and the industry is loving it. Technological advancements are constantly changing the way business gets done, and the speed of innovation is increasing. Upgrades, enhancements and new software restructure the industry; and it&#8217;s up to all of us to stay current. There&#8217;s so much activity brewing in [&#8230;] Tue, 19 Nov 2019 23:51:56 Z NAIBlack-Blog <p>Commercial real estate&#8217;s greatest disrupter is technology &#8211; and the industry is loving it. </p> <p>Technological advancements are constantly changing the way business gets done, and the speed of innovation is increasing. Upgrades, enhancements and new software restructure the industry; and it&#8217;s up to all of us to stay current. </p> <p>There&#8217;s so much activity brewing in the world of PropTech. From Smart systems and the IoT, 2019 has already seen significant developments. It has the ability to breathe fresh life into old buildings and revitalize the commercial market which has immense promise for what&#8217;s to come. Once 2020 rolls around, PropTech is vamping up to restructure CRE. </p> <p>In order to stay current, agents, brokers and their clients all need to know what&#8217;s coming next. This is what the experts are forecasting for the 2020&#8217;s PropTech evolution. </p> <p><strong>Environmentally Friendly</strong></p> <p>Across the board, there&#8217;s a major shift towards eco-awareness. As consumers become more conscious of carbon footprints and the impact human civilizations have on the planet, going green has been a main point of interest for major companies around the world. </p> <p>It&#8217;s a movement that&#8217;s impossible to ignore &#8211; and it&#8217;s making its&#8217; mark on PropTech. Due to the sheer size, scale and functions of commercial properties; they tend to use large amounts of energy and create waste. To combat these negative results, sustainability is becoming a pivotal aspect in defining a company&#8217;s success. </p> <p>This ecologically-friendly evolution of property technologies will play a huge role in facilitating this shift. Smart technologies used on commercial properties will be able to conserve resources and cut back on waste &#8211; making large strides towards a greener industry. </p> <p><strong>Designing with Users in Mind</strong></p> <p>It&#8217;s no secret that today&#8217;s consumers want convenience, access and automation. </p> <p>In efforts to provide everything they want and more, PropTech companies are designing with the user in mind. User experience has been a main focus point for businesses in the last few years, and its application to property technologies will boost productivity and efficiency. </p> <p>These technologies will use AI (artificial intelligence) to make predictions and create algorithms that give users a personalized experience. By observing past actions, these PropTech systems will be able to give suggestions and anticipate users&#8217; wants. </p> <p>In 2020, expect to see PropTech working with users to help optimize this experience. </p> <p><strong>Complete Connection</strong></p> <p>The biggest PropTech trend in the 2020 forecast is establishing seamless connectivity. Interconnected systems are expected to become commonplace within commercial buildings. A mass integration of systems running under the same software will bring unity to the various moving pieces involved in property management.</p> <p>Team members, tech tools, apps and other systems will be linked to one core processor that interweaves everything together as one harmonious unit. These complex systems of data and analysis will be seen as imperative to business, whereas today we see them as a bonus or perk. Already consumers are demanding greater connectivity and access to keep up with the changing industry. </p> <p>The possibilities seem endless. What PropTech trends are you watching out for next year? For more CRE insights, visit our <a href="http://naiblackblog.com/">blog.</a> </p> 345 2019-11-19 23:51 +00:00 2019-11-19 17:51 -06:00 http://naiblackblog.com/?p=339 http://naiblackblog.com/2019/10/investors-pay-attention-to-opportunity-zones-before-the-end-of-2019/ Commercial Real Estate commercial real estate Development Investment Investors opportunity zone Investors: Pay Attention to Opportunity Zones Before the End of 2019 The clock is ticking for opportunity zone investment. Are you prepared? As 2019 comes to a close, investors will need to play their cards right regarding opportunity zones. The coming months will be vital to the development of the country&#8217;s opportunity zone program. Here&#8217;s a breakdown of what&#8217;s happening with OZs and some tips to [&#8230;] Fri, 25 Oct 2019 22:42:23 Z NAIBlack-Blog <p>The clock is ticking for opportunity zone investment. Are you prepared? </p> <p>As 2019 comes to a close, investors will need to play their cards right regarding opportunity zones. The coming months will be vital to the development of the country&#8217;s opportunity zone program. </p> <p>Here&#8217;s a breakdown of what&#8217;s happening with OZs and some tips to help investors stay on their A-Game. </p> <p><strong>Off to a Slow Beginning </strong></p> <p>When 2019 started, investors were taking their time. There was a lot of speculation within the industry as to how opportunity zones would play out in the big picture. The tangible benefits and ROI-boosting powers of opportunity zones weren&#8217;t so clear, causing investors to withdrawal until there was a better idea of what&#8217;s coming next. </p> <p>For the most part, investors chose to err on the side of caution and wait it out. Playing it safe meant stalling on the big moves, and this resulted in a slowdown in opportunity zone activity. Fundraising projects were slow to grow and many thought that there just wasn&#8217;t enough interest around the country&#8217;s OZs. </p> <p><strong>Finally Heating Up in the 3rd and 4th Quarter</strong></p> <p>Things were at a stalemate &#8211; that is, until the second half of 2019 came about. </p> <p>Why did this happen? What caused the sudden turnaround? </p> <p>The tides started changing when the US Treasury Department released its second round of opportunity zone regulations in March. This release helped to put investors at ease and also clarify their position when dealing with OZ assets. </p> <p>On the topic, the President of Javelin 19 Investments, Jill Homan, <a href="https://www.bisnow.com/national/news/opportunity-zones/second-round-opportunity-zone-regulation-investors-free-to-go-98546">shared with Bisnow</a>: </p> <p>&#8220;I think this set of regulations covers a lot of ground, and will certainly spur investment in the operating business side and get a lot of real estate investors comfortable, because this incentive really fits neatly with how we traditionally operate.&#8221; </p> <p>Steve Glickman, the Founder and CEO of Develop LLC, also shared some expert insights: </p> <p>&#8220;I think now, the capital that has been waiting in the wings will finally begin to get out there and form funds or invest in funds that have already launched. The overarching thing that&#8217;s positive about the regulations is just the sense of clarity and finality about what we&#8217;re going to get from the Treasury Department.&#8221; </p> <p>This news was exactly what investors were waiting for as it seems to already be taking effect. Since April, there&#8217;s been a significant increase in OZ investment activity. Funds are growing, money is moving, and investors are taking another look at the program as a whole. </p> <p><strong>Deadlines Are Approaching</strong></p> <p>Besides the good news, investors still can&#8217;t get too comfortable. Time is nearly running out to join in on the opportunity zone movement. </p> <p>December 31, 2019 is the current deadline. Anyone who participates before this cut-off date will be given the 15% tax reduction for investing in the program &#8211; a huge benefit that any investor&#8217;s hungry for. </p> <p>While some political figures are working to extend the deadline, nothing has changed as of yet. The limited time frame and heightened stakes are causing experts to believe that the OZ project will be even more successful than initially anticipated. </p> <p>Things are happening fast in the world of opportunity zones. Are you ready? For more commercial real estate insights, check out our blog. </p> 339 2019-10-25 22:42 +00:00 2019-10-25 17:42 -05:00 http://naiblackblog.com/?p=336 http://naiblackblog.com/2019/10/4-ways-gen-z-is-impacting-the-retail-landscape/ Commercial Real Estate Gen Z GenZ real estate retail shopping 4 Ways Gen Z is Impacting the Retail Landscape Despite what major retailers may have expected, the vast majority of Gen Z-ers (more than 3 out of 4) actually prefer to shop in physical brick and mortar retail stores. But it&#8217;s not that simple &#8211; creating the right in-store experience is also crucial to success. From ensuring that items are kept in stock to [&#8230;] Thu, 17 Oct 2019 18:15:31 Z NAIBlack-Blog <p>Despite what major retailers may have expected, the vast majority of Gen Z-ers (more than 3 out of 4) actually prefer to shop in physical brick and mortar retail stores. But it&#8217;s not that simple &#8211; creating the right in-store experience is also crucial to success. From ensuring that items are kept in stock to creating unique and personalized experiences for shoppers, retailers can make a great impression on this highly sought after and coveted demographic. </p> <p>It&#8217;s also important to get the experience and the transaction right from the first interaction, as these particular shoppers may be less willing to give a second chance. Smart retailers are finding ways to marry their brick and mortar stores to the online world, and the results are speaking for themselves. But how else is Gen Z impacting the retail landscape? Let&#8217;s dig a little deeper. </p> <p style="text-align:left"><strong>Gen Z-ers Expect &#8211; and Demand &#8211; a Seamless Digital-to-Physical Experience</strong></p> <p>While Gen Z-ers prefer to shop in physical stores, they are also a generation that relies heavily on smartphones and other mobile devices. As a result, they expect easy and intuitive interactions with retail sites &#8211; and if they research an item online and then go to a store for purchase, they expect the item to be in stock and the transaction to be easy and seamless. </p> <p><strong>Gen Z-ers Think About Value Over Cost</strong></p> <p>Unlike the Millennials that came before them, Gen Z-ers are known for being thrifty and responsible with their funds. They will support brands that they believe in, but they won&#8217;t do so at the cost of their future. Gen Z-ers, having watched their parents struggle through the recession, are also more wary of credit and debt, choosing to live within their means and eschew relying on credit. Retailers must keep this in mind and price their goods and services accordingly. </p> <p><strong>Gen Z-ers Are a Driving Force Behind Free Shipping</strong></p> <p>While the demand for a shift to free shipping on <em>all </em>orders not exactly being a Gen-Z specific trend, this particular generation is definitely one of the larger driving forces behind free shipping becoming standard on all orders. In fact, <a href="https://nrf.com/">NRF</a> reports that 76 percent of Gen Z customers expect their order delivery to be free &#8211; even on orders tat are less than $50. </p> <p><strong>Gen Z-ers Are Forcing Retailers to Quickly Adapt to Trends in Social Media</strong></p> <p>In order to reach this important demographic, smart retailers are realizing that they must become more tech-savvy and present on social media. Of course, before this can happen, retailers must first understand which social media platforms Gen-Zers are using. Stores Magazine recently reported that 44 percent of Gen Z shoppers use Snapchat while shopping in-store, compared with only 16 percent of Millennials (and 5 percent of Gen Xers). And don&#8217;t count out Instagram and Facebook just yet, with 45 percent and 40 percent of Gen Z shoppers relying on these platforms (respectively) to find new products and meet new brands. </p> 336 2019-10-17 18:15 +00:00 2019-10-17 13:15 -05:00