Co-working and the coronavirus, a long view of tenant retention, HUD expands housing protections to more of the LGBTQ community, coastal cities rent declines, examining a green fund.
In Today’s News
COVID-19 Forces Co-Working Firms to Recast Their Business Model
The Wall Street Journal [subscription required] reports the pandemic is compelling a number of co-working firms to discard original business models, or accelerate the adoption of a new one, with the broader office market under threat.
Why it matters: There are big and small operators in this space, and they’re all feeling the pressure. They also may be a bit of a canary in the coal mine for urban office space in general, so real estate investors should watch this space.
Apartment Resident Retention Gets Messy
Apartment resident retention challenges are more pronounced in the urban core than in the suburbs across nearly all metros, according to this column from RealPage’s chief economist on GlobeSt.com.
Why it matters: This thoughtful piece provides some context to the pandemic by looking back at how we got here. Context can help inform tactics for landlords and investors trying to read today’s tea leaves.
Today on Millionacres
HUD Expands Fair Housing Protections to Gender Identity, Sexual Orientation
The Department of Housing and Urban Development (HUD) said today it officially began investigating fair housing complaints related to gender identification and sexual orientation.
Why it matters: Millionacres’ Aly Yale points out that the Fair Housing Act has been around for a while, so if you as a landlord were already in line with its protections, today’s news shouldn’t require any huge changes on your part. But, she adds, if you have any doubts about how you screen, qualify, and treat tenants, consult a knowledgeable attorney.
Rent Declines Slow in Coastal Cities
A well-documented result of the pandemic on the real estate market is the hit on residential rental prices in some of the priciest of high-dollar markets. That decline is showing some signs of abating.
Why it matters: Millionacres’ Liz Brumer interprets the numbers and says a wait-and-see approach is probably still the wisest move until several months of data reflect this shift in rent prices.
The Fifth Wall Carbon Impact Fund: What Investors Must Know
Leading climate change and proptech investment firm Fifth Wall has launched the Carbon Impact Fund to help building owners reduce their carbon footprint. Here’s a closer look at the fund and how it can help solve a key problem facing building owners.
Why it matters: Green is the new black when it comes to investment trends, and Millionacres’ Matthew DiLallo sheds some light on this particular fund and what building owners might consider doing on their own to help the environment.