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Does anyone have a good contact person for CSC Appliance Warehouse? We are having constant issues with them taking MONTHS to pick up units at a property in South FL and we aren't getting anywhere by just calling the customer service number.
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HUD has proposed significant improvements to their multifamily finance programs. This involves the rollback of the DSCR and LTC/LTV parameters to more aggressive standards. These proposed changes are still in the draft stage, and there will be an approximate 30-40 day review/comment period before these new parameters become effective. Here is what they’ve proposed.
For Market Rate deals, HUD is proposing to decrease the minimum DSCR to 1.15x...HUD has proposed significant improvements to their multifamily finance programs. This involves the rollback of the DSCR and LTC/LTV parameters to more aggressive standards. These proposed changes are still in the draft stage, and there will be an approximate 30-40 day review/comment period before these new parameters become effective. Here is what they’ve proposed.
For Market Rate deals, HUD is proposing to decrease the minimum DSCR to 1.15x and increase the maximum LTC/LTV to 87%. HUD is also planning to modify the underwriting parameters for affordable deals to a minimum DSCR of 1.11x and a maximum LTC/LTV of 90%. See the new standards in the chart below or attached PDF.
HUD will introduce a “Middle Income” categorization, that would allow some projects to be underwritten at the most favorable 1.11x DSCR and 90% LTC, without requiring LIHTC or a project-based Section 8 contract. This category would require 50% of units to be set aside < 120% AMI, secured with a use restriction monitored by a public entity. So far, this new category only applies to the 221(d)(4) program (i.e. new construction and sub-rehab projects).
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As prices continue to soar and inflation hits record highs, a staggering 78% of Americans are living paycheck to paycheck. That strain is especially felt in the multifamily space. According to The Census Bureau, nearly half of renters (49.7%)–representing over 21 million households–are classified as cost-burdened, meaning they spend more than 30% of their income on rent.For owners and operators, this poses a significant challenge. Financially str ...
Installment 5 of the Pioneering Progress blog series on Rethinking Tech Adoption in Multifamily After identifying your business needs, gaining stakeholder buy-in, determining a realistic budget, and conducting thorough research into potential tech providers, it's time to take the next critical step: setting up product demos. This stage allows you to move beyond theory and research, allowing you to see the product in action and determine how well ...
(Read Part 1 here) As we explored in the first installment, even though the peak leasing season is slowing down, there's still a consistent flow of renters searching for new homes, often in a crunch to find their next place. These renters are often more eager to find a place quickly. By keeping your marketing channels active, you can ensure your property is prepared to attract potential residents and meet occupancy demands. Here are a few more ar ...
Does anyone have any experience with allowing birds as pets? It's two birds in a cage, and I feel like it would be fine. I'm not sure what problems they could cause, but would love to hear some feedback! Would you allow them?
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Does anyone live on site? Does you regional inspect your apartment? They just started this and I have a brand new regional so I'm not sure what they are looking for... I hate people to come over and it's not perfect so this is making me crazy. (I have no idea even when she will walk my apt but the thought drives my ocd nuts.)
Ok, folks....who has done something cool with your old outside basketball court? We had to remove our basketball goals because it became the towns favorite tournament court ! We plan on turning the tennis court into a pickleball court so any ideas beside that would be greatly appreciated!!
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As prices continue to soar and inflation hits record highs, a staggering 78% of Americans are living paycheck to paycheck. That strain is especially felt in the multifamily space. According to The Census Bureau, nearly half of renters (49.7%)–representing over 21 million households–are classified as cost-burdened, meaning they spend more than 30% of their income on rent. For owners and operators, this poses a significant challenge. Financially st ...
Being able to brand for differentiation can be used to your complete and full advantage—if you know how to wield it. For Zipcode Creative client, Paragon Ranch, it was vital to find a way to serve up differentiation to attract the right residents. It came in the somewhat-unlikely form of pickleball (the fastest growing sport in the U.S.) Paragon Ranch is a newly launched multifamily development just outside of Cincinnati, Ohio. It's attracting pr ...
Pardon my super bad photoshopping. No single photo exists that highlights the reality of on-site operations. It's the toughest job being done by the most highly skilled people of any industry.What you 𝐒𝐄𝐄 when you visit a property: → clean offices, grounds, and amenities→ ready units→ happy employees What you 𝐃𝐎𝐍'𝐓 𝐒𝐄𝐄: → hours every day cleaning up after residents who don't care→ hours doing trash outs, pest control, repairs, cleaning→ mandatory ...
et In the famous line from "Tropic Thunder," Kirk Lazarus says, "I'm the dude playing a dude disguised as another dude!" Even while this line is hilarious, it ironically highlights a significant reality regarding authenticity and identity in the contemporary society.The Masks We Put onIt's simple to fall into the trap of pretending to be someone else or playing multiple parts in order to fit in or satisfy other people in today's culture. We frequ ...
Even though the peak leasing season is winding down, there's still a steady stream of renters looking for a new place. People move for various reasons throughout the year, such as job changes, lifestyle shifts, or simply the desire for a fresh start. These potential new residents are often more motivated to move and looking to find a place quickly. By continuing your marketing efforts, you can be sure your property is ready to capture these rente ...
On average, what is a reasonable number of work orders completed in a day/week? I'm aware that the number varies based an several things...Thanks!
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