It’s far out, man. It’s totally chronic. It’s growing like…well, like a weed. The movement for recreational cannabis legalization has continued to grow quickly over the last decade, and has finally set down roots here in the Commonwealth. Much remains undecided regarding how this new legalization method will work in multifamily housing, with questions abounding regarding fair housing and employment, legal liability, and environmental topics like home cultivation.
Chris Tinsley, Maintenance Supervisor for MAA, NAA CAMT of the Year and course instructor extraordinnaire, on his journey in the multifamily housing industry and why earning a credential is important. Read his story and be inspired.
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Virginia is currently in phase 1c and will move into phase 2 on April 18. Phase 2 means "Everyone, 16 and older, who lives or works in Virginia will be eligible to get the COVID-19 vaccine at that time. Some communities will make the transition into Phase 2 sooner and will begin inviting members of the general public from the pre-registration list to appointments beginning April 4," according to Virginia Department of Health. Visit https://www.vdh.virginia.gov/covid-19-vaccine/ to find which phase your community is in and to register. Virginia has paused Johnson & Johnson vaccine appointments while FDA and CDC review 6 cases of a rare and severe blood clot side effect. Learn more about the Johnson & Johnson story here.
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker, which surveys over 11.6 million apartment units each month, found that 79.8% of households made a full or partial payment between April 1 - 6, 2021. This is up from the 77.9% that had made a payment by April 6, 2020, and down from the 80.4% that had made a payment by March 6, 2021.
At first look, Yvonne Camus is just like you or me. She is a Mom. She’s an ordinary businesswoman, COO of The Lavin Agency – oh, and she competed in the toughest race in the world: Discovery Channel’s Eco-Challenge. She faced off against a team of U.S. Navy Seals who were younger, more athletic, and better trained. How did Yvonne outperform? It was her superior grit, determination and communication skills.
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Before the pandemic arrived in 2019 and early 2020, Karen set out to visit 100 properties in 100 days. She wanted to get a truly informed understanding of the in-person experience that prospects are having today. She wanted to see where leasing teams are knocking it out of the park and where the opportunities for improvement. Here is her story.
One of the most important parts of managing your apartment community is preventive maintenance. Taking the time to care for your property’s, HVAC, appliances, equipment, and the buildings themselves will save you money in the long run. Measures like changing the smoke detector batteries, cleaning the refrigerator coils, changing the filters, and powerwashing extend the life of the asset and build value with your residents as well.
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Congratulations, you finally found someone to fill that vacant position at your apartment community! But you can't relax just yet. Unless you want to be replacing that new hire again in 60 to 90 days, your work is just beginning. Avoid a first day failure with these four straightforward steps!
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May 2021
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5/4/21 VAMA | CVA Advisory Committee Meeting
5/4/21 VAMA | HR Advisory Committee Meeting
5/5/21 VAMA | NRV Advisory Committee Meeting
5/6/21 VAMA | RL Advisory Committee Meeting
5/6/21 VAMA | SV Advisory Committee Meeting
5/11/21 VAMA | BR Advisory Committee Meeting
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Streets of Greenbrier, located in the Greenbrier section of the city, was sold to Capital Square 1031 in March. The community, consisting of one-, two- and three-bedroom apartments housed in nine buildings, was sold for $67.25 million.
Midtown Row and Phase 2 of High Street View Apartments are both going up within four blocks of each other, and are considered the largest simultaneous multifamily projects in the city. Combined, the two communities will offer 511 new units to the area. Move-ins will begin soon, with construction finishing up by the end of this year.
D.C.-based Capital City Real Estate is planning a 173-unit mixed-use building at 15 W. 7th St. named the Manchester Commodore, which would be Capital City’s first in the Richmond region. Capital City’s project would be the recent addition to the thousands of apartments units going up in Manchester area in recent years.
The deal's total capitalization was roughly $68 million, which included renovation and other costs. A $7.5 million capital improvement plan will upgrade individual apartments, as well as the parking, courtyard and amenities. Standard Communities also acquired Commons at Princess Anne, a 186-unit senior community in Virginia Beach.
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