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California apartments should be aware that checking a resident’s or applicant’s driver’s license is no longer going to be a telltale sign of whether a resident or applicant is legally in the country. And declining a lease based on what the license says – or doesn’t say – or asking questions about citizenship status could lead to a Fair Housing violation.

California Assembly Bill 60, which will be effective Jan. 1, 2015, enables undocumented immigrants to get a driver’s license from the Dept. of Motor Vehicles without the holder presenting a birth certificate or Social Security card. Essentially, the state will issue the license, which has long been one of a few identity verifiers in the apartment industry, without proof that the applicant is a U.S. citizen.

The Bill contains a provision making it illegal to discriminate against an individual because he or she holds or presents this type of license, which ultimately could have implications on housing.  
A new California law allowing undocumented immigrants to get a driver’s license without presenting a birth certificate or Social Security card could have Fair Housing implications for landlords and property management companies.
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Increase Property Visits With New Service From RealPage Contact Center

We're pleased to introduce email service enhancement Instant Call Reply to its contact center leasing suite. Multifamily and single-family rental housing owners and operators who use this service can deliver heightened customer service to prospects and realize faster turnaround on appointments set for property visits. The contact center estimates that two-thirds of prospects reached with a phone call make appointments to visit the property. 

To learn more about this service, check out the video and/or visit http://www.realpage.com/news/increase-property-visits-new-service-realpage-contact-center/.

#multifamily   #propertymanagement   #contactcenter
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The first few months of the year are an important period for the apartment sector in Phoenix, as the metro’s biggest block of quarterly demand normally registers in the January-March time span. That emphasis on 1Q’s leasing volume is a notable difference between this market and most others, as the 2Q and 3Q periods are the peak apartment leasing times throughout most locales.

So how did Phoenix do during the initial three months of 2014? Solid.

MPF Research looks at the numbers and shares their near-term outlook for the metro.

#multifamily   #cre   #phoenix  
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One theme seen in 1st quarter 2014 was the re-acceleration of rent growth levels in some of the nation’s hottest development markets, including California’s Bay Area. What does the improved momentum tell us about the market’s fate going forward as even more new supply is set to complete?

MPF Research examines the Bay Area apartment markets of Oakland, San Francisco, and San Jose in this video update.

http://www.propertymanagementinsider.com/rent-growth-levels-re-accelerate-in-the-bay-area.html

#multifamily   #bayarea  
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U.S. Apartment Fundamentals Continue to Hold Steady in Q1 2014

MPF Research reports that the U.S. apartment sector continues to post strong fundamentals even as new supply levels ramp up – with occupancy registering around 95% and annual rent growth around 3% for the seventh consecutive quarter.

http://www.propertymanagementinsider.com/u-s-apartment-market-holds-steady-q1-2014.html
MPF Research reports that the U.S. apartment sector continues to post strong fundamentals even as new supply levels ramp up – with occupancy registering around 95% and annual rent growth around 3% for the seventh consecutive quarter.
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Among the so-called “Sexy Six” core apartment markets, we’ve seen a range of performances in recent years. All but one of them, though, have had extended periods of outperformance sometime between 2010 and early 2014. The exception? Los Angeles, which has yet to show consistently strong momentum since coming out of the recession. Is Los Angeles facing a “new normal” below the typical revenue growth levels of the mid-2000s?

MPF Research has the answers.

http://www.propertymanagementinsider.com/los-angeles-remains-the-un-sexiest-of-the-sexy-six.html

#multifamily   #cre   #realestate  
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For the first time in more than two decades, Austin’s apartment sector is expected to see big growth in both the local economy and in new apartment supply. In previous periods of big job growth, new supply has been limited. And in previous new supply booms, job growth has disappeared. So how much can Austin’s projected economic growth cushion the apartment sector from the effects of a 20-year peak in new development?

MPF Research takes a deep dive into the Austin apartment market in this video report.

http://www.propertymanagementinsider.com/austins-apartment-market-enters-uncharted-territory.html

#multifamily   #cre   #austin  
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For firms concentrating on big-time overall demand potential, six apartment markets across the country stand head-and-shoulders above their counterparts in terms of current momentum. Given that all feature fast-growing economies and will have substantial product availability throughout the near term, it’s somewhat doubtful that other locations can dislodge them from the top of the charts for absolute demand during the foreseeable future. 

MPF Research takes a brief look at these half-dozen apartment demand stars.

http://www.propertymanagementinsider.com/top-6-cities-for-apartment-demand.html
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For the past two years, the U.S. apartment market has seen remarkable consistency in terms of occupancy and rent growth. The first quarter of 2014 was no exception with rent growth registering at an annual pace of 3.3 percent and occupancy at 95.0 percent.

According to MPF Research, that marks seven consecutive quarters with occupancy registering around 95 percent and annual rent growth around 3 percent.

The mildly surprising story line to emerge from this past quarter is the degree of rent growth acceleration despite a significant amount of development activity. Normally, pricing cools during these times. However, many local markets saw pricing upturns in the existing stock even as construction volumes ramped up.

Check the link to discover which apartment markets were the best as far as rent growth during Q1 2014. The rate of acceleration in some markets might surprise you.

#multifamily   #cre  
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Newly released data shows the U.S. apartment sector continues to post strong fundamentals even as new supply levels ramp up – with occupancy registering around 95% and annual rent growth around 3% for the seventh consecutive quarter. If there are any surprises, it’s that rent growth levels haven’t slipped – and in fact, they’ve jumped in some key spots with significant levels of apartment development.

Link to full analysis from MPF Research: http://www.realpage.com/news/realpage-mpf-research-q1-2014/

#multifamily   #apartmentresearch   #realesate   #cre  
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A leading provider of property management software to the multifamily, commercial, and single-family and vacation rental housing industries
Introduction

RealPage, Inc. (NASDAQ: RP), is a leading provider of on demand Software-as-a-Service (SaaS) products and services to the multifamily, commercial, and single-family and vacation rental housing industries. The company has a history of developing cost-effective systems that enable property owners and managers to increase revenues and reduce operating costs through higher occupancy, improved pricing methodologies, new sources of revenue from ancillary services, improved collections and more integrated and centralized processes. 

The company's suite of solutions enables owners and managers of various rental property types—including conventional, affordable, military, student, single-family, vacation and senior housing—to manage everything from marketing to pricing and other property operations. RealPage also provides commercial and mixed use property management solutions. Its products have evolved from the desktop to the cloud, with many available both online and for mobile devices.

  • Compliance Depot™:  vendor management and qualification services to assist a community in managing its vendor compliance program;
  • LeaseStar™: multichannel managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; this includes the RealPage Contact Center, a leading on-demand apartment contact center servicing customers throughout the U.S. with centralized leasing solutions and maintenance on demand services;
  • LeasingDesk®: risk mitigation systems that are designed to reduce a community’s exposure to risk and liability;
  • MyNewPlace®: one of the nation’s largest apartment and home rental web sites, offering apartment owners and managers a great source of qualified, prospective residents under a results-oriented pricing program;
  • OneSite®: property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties, and all flavors of commercial properties;
  • OpsTechnology™: spend management systems that help owners manage and control operating expenses;
  • Propertyware®: software and services for single-family rentals and low density, centrally-managed, multifamily housing offers the ability to access real-time data, anytime, anywhere;
  • Resident Services Portal: software and services for residents to see billing, make payments, submit maintenance requests, receive notification of package deliveries, and more;
  • Velocity™: billing and utility management services that increase collections and reduce delinquencies;
  • YieldStar®: asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property

Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. Through its Propertyware subsidiary, RealPage provides software and services to single-family rentals and low density, centrally-managed multifamily housing. Most recently, RealPage's InstaManager helps professional vacation rental managers increase both the number of properties managed and the days per year utilized, resulting in revenue growth without adding staff.