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Home » News and Events » Page 18

News and Events

Renters Assistance is On the Table in Stimulus Talks

via GlobeSt.com A credible proposal for another stimulus measure hit Capitol Hill on Tuesday. There is no guarantee that it will pass and be signed into law and it is light on details but it is the first serious attempt to jumpstart bipartisan talks for further coronavirus relief. A bipartisan group of senators proposed the measure. Worth about $908 billion, the bill seeks to take the middle road between competing proposals that have been introduced in the House of Representatives and the Senate. Read More..

Employees Increasingly Reluctant to Return to the Office

via GlobeSt.com Office occupancy rates dropped significantly last week, likely due to Thanksgiving. Kastle Systems’ 10-city national average fell to 17.6% — an 8.1% drop from the previous week. Every city measured on the Kastle Back to Work Barometer experienced a decline in occupancy. Since the pandemic, Kastle Systems has been studying keycard, fob and KastlePresence app access data from the 3,600 buildings and 41,000 businesses in 47 states to identify trends in how Americans are returning to the office. Read More..

Shining a Light on 2020 Tax Planning: The Importance of Year-End Planning

via AptMags.com Shining a Light on 2020 Tax Planning: The Importance of Year-End Planning The year started as a normal filing season, but with the Coronavirus pandemic, there is now a lot more to consider from a tax planning standpoint. From working at home, to the CARES Act to other legislative issues and of course, this being an election year, you want to make sure to set aside some time with YOUR tax advisor before the end of the year, who will discuss the best tax-saving strategies that fit YOUR situation. If you have been wondering if a year-end planning session with your accountant is needed soon, well, the short answer: absolutely right now more than ever! Don’t delay!During this presentation, Tony Watson, an Enrolled Agent from Robert Hall & Associates, will explain to you the tax planning strategies YOU need to employ and the secrets YOU can use to save on YOUR taxes for this year. Learn about the most often forgotten tax deductions, how to avoid costly tax mistakes, and the leading, “last minute” tax avoidance strategies all in perfectly legal and in compliance with the law. Whether you are a real estate investor, agent, or lender, you will definitely benefit from this important information to reduce your tax bill and maximize YOUR return on your real estate investments and potentially save thousands of dollars this year and in the future! Read More..

Prop 15, aimed at raising taxes on commercial properties, is dead

via TheRealDeal.com Proposition 15, the statewide ballot initiative that would have raised taxes on large commercial property owners, has been defeated. Unofficial results from election night showed voters had rejected the measure. A week into counting, there are likely not enough ballots remaining to change that outcome, the Los Angeles Times reported, citing the Associated Press’ tally. Read More..

Industrial Remains 2020’s Top Performer

via GlobeSt.com While most commercial real estate sectors are suffering from rising vacancies and falling rents during the pandemic, industrial keeps outperforming its peers. Buoyed by continuing strength in e-commerce, the warehouse/distribution vacancy rate was unchanged in the Q3. It posted positive net absorption for the 40th quarter in a row, according to Moody’s Analytics. Read More..

Los Angeles Rents Fall Nearly 7% Since March

via GlobeSt.com Los Angeles rents have decreased nearly 7% since the start of the pandemic, placing the city somewhere in the upper-middle in terms of rent declines. Data from Apartment List shows that rents in Los Angeles have decreased 6.9%, while San Francisco—which leads the nation in rent decrease—rents have fallen 21.7% and the nation have averaged rent decreases of 1.4%. Read More..

Outdoor Retail Areas Are Here to Stay

via GlobeSt.com Outdoor retail and dining areas could be here to stay, according to panelists at a recent CREW San Diego event, which analyzed the lasting effects of the pandemic. The conversation included Howard Blackson of AVRP Studio; David McCullough of McCullough Landscape Architecture; Christopher Bittner of OBR architecture; Alyssa Muto of the environmental policy and public space in the planning department at the City of San Diego; and Penny Maus of the Port of San Diego, who served as moderator. Read More..

Multifamily Rents Declined at Record Pace in Q3

via GlobeSt.com Job losses, combined with the expiration of unemployment benefits, may finally be taking its toll on the apartment market. After multifamily held up reasonably well in Q2, national asking and effective rents declined at a record pace in the third quarter, falling by 1.8% and 1.9%, respectively, according to Moody’s Analytics REIS. That is the largest quarterly decline since 1999 when the company began publishing quarterly data. Before 2020, the most significant decrease occurred in Q4 2001—right after 9/11. Read More..

Small Apartment Pricing Improves in Q3

via GlobeSt.com Throughout the COVID-19 recession, it has been anticipated that smaller apartment owners would bear the brunt of the problems in the multifamily sector. If rent payments are late or units are empty, there are fewer apartments to spread that revenue loss over. Also, many tenants in smaller apartments are likely to have lost jobs in this recession. Read More..

Voters Reject California’s Proposition 21

via GlobeSt.com Once again, California voters have decided not expanded rent control in the state. In Tuesday’s election, voters rejected Proposition 21. Had it passed, the measure would have allowed local jurisdictions to expand rent control or create new rent control laws on almost all housing types. It was widely opposed by the commercial real estate community as well as Governor Gavin Newsom. According to data from The Associated Press, the proposition received only 40% of the votes, although ballots are still being counted. Read More..

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