Saturday 16 December 2017

Have You Got These Affordable Housing Facts Straight?

It's not how big the house is, it's how happy the home is.
All sorts of disinformation, misinformation and myths surrounding affordable
housing have been circulated for years to the disadvantage of many.
From blaming it for generating more traffic and overburdening public
infrastructure to lowering property values and spawning crimes, affordable
housing has been at the receiving end. This article strives to put all of these
baseless allegations to rest, and focus on what really affordable housing is.

On Traffic

Study after study goes on to demonstrate that affordable housing residents own fewer
vehicles and drive 20-30 percent less than those in the neighborhood. The National
Personal Transportation Survey found that low-income households in such housings
make 40 percent fewer trips than other households. The former mostly depend on
public transportation for daily commutes. Hence, there’s no question of affordable
housing causing traffic congestion.

On Crimes

Until now, there is no correlation between increased crime rates and affordable housing.
Studies show that what does cause crime are factors such as lack of jobs, lack
of community services, community disinvestment, and overcrowding. Affordable
housing in inner cities saves people from living in slum conditions, which breed crimes.
Thorough screening of residents, proper management of property, and round-the-clock
security measures ensure that no illegal activities take place in the premises of affordable
housing.

On Infrastructure

Traditional single-family homes have 2-3 times the number of school-going kids than those
residing in high density but affordable apartments. The U.S. Office of Technology Assessment
revealed that it costs $10,000 more per unit to provide public infrastructures to
a lower density suburban than to a more compact urban neighborhood.
Infrastructure construction costs per housing unit decline drastically as density increases.

On Property Values

Wayne State University, Michigan tracked property values nationwide both before
and after the coming of affordable housing, and it found that affordable housing
has no significant effect on property values. Similar research by another entity
found that affordable housing doesn’t impact negatively on the sales of neighboring
homes. Affordable housing does not reduce the desirability of surrounding properties.
Property values are affected by other factors unrelated to such housing.

Last Word

According to several leading multifamily housing contractors in the USA, affordable
housing plus support services present the most cost-effective way of extending
help to vulnerable members of our society. Generally built through public-private
partnerships and provided at subsidized rates, these housings are a blessing for
low-income sections of the community who want to lead a decent life. Construction
of such houses create jobs and generate revenues for the federal and state governments.

Monday 26 June 2017

5 Reasons to Invest in Multifamily Energy Efficiency Housing

Designed to offer affordable housing, multifamily properties represent a promising avenue for investors. However, to drive optimum returns, it is crucial for property owners to provide energy efficient affordable housing options. Multifamily energy efficient apartments are not only easy on the pocket, but are also eligible for tax rebates. It is, therefore, important for multifamily property owners to an implement energy efficiency housing plan and hire a reputable redesigning contractor. If you are skeptical about investing in energy efficient multifamily housing, this blog post gives you five reasons to go ahead with a multifamily energy efficiency housing plan.

1. Reduced Environmental Impact

One of the biggest global problems today is greenhouse gases. World leaders are pledging to reduce emissions of GHGs and energy efficiency housing plan gives you an opportunity to do your bit. Improving the energy efficiency of a property can also help lower air pollutants by reducing the consumption of fossil-fuel-based energy. You can even contribute towards resource conservation and pollution prevention by purchasing energy star labeled equipment.

2. Improved Indoor Air Quality

Installing proper insulation system and sealing air leaks in home’s envelope and duct system can improve indoor air quality, as it restricts dust infiltration and odor intrusion from the outside environment and keep the air inside fresh. Adequate ventilation system is a must for every home, particularly the ones with senior and children. Ventilation is necessary to maintain indoor air quality and provide a healthy habit to occupants.

3. Lower Energy Costs

Energy costs is one of the major expenses that renters have to bear. Investing in energy-efficient appliances can help reduce energy consumption and make the units more affordable for prospective renters. According to federal government’s Partnership for Home Energy Efficiency (PHEE), improving energy efficiency can help households can save upto 30 percent on energy bills.

4. Improved Comfort

Every renter looks for a comfortable abode. Several conditions, such as cold floors, damp basements, and moisture on windows result in poor indoor comfort. Damp basements can lead to mold proliferation, structural damage, and increased indoor humidity that may, in turn, create moisture on windows, resulting in mold formation and damage to the sills. Investing in insulation and duct sealing can help owners improve indoor comfort. These measures help control the air entering the home, ensuring better air quality and controlled moisture levels.

5. Increased Home Value

Implementing multifamily energy efficiency housing plan can increase the property’s market value and rentability as most people prefer renting a home with energy-efficient features that keep the energy bills on the lower side. For investors who are looking to sell their asset in the near future, investing in energy efficiency improvements is a failsafe way to draw a high return on their investment.

Final Few Words


The highlighted factors give a clear indication why investing in multifamily energy efficiency housing plan is win-win proposition for multifamily property owners and investors alike. Before introducing any energy efficiency method, investors need to chart out a detailed plan about the resources and timelines required to execute the changes. In addition, investors need to hire experienced renovation professionals. Multifamily contractors can not only suggest suitable energy-efficient changes, but also ensure that every stage in executed according to the plan.

Monday 9 January 2017

4 Reasons Periodic Multifamily Property Renovations Make Sense

Multifamily Renovation Contractor
Multifamily Renovation Contractor
As an increasingly large number of people move to cities in search of employment, better business opportunities, and improved standard of living,the demand for multifamily properties is on the rise. The number of new multifamily projects is also increasing. As these new projects offer more advanced facilities, old multifamily property owners are not left with any other choice but to give their old properties a facelift and make them more livable for the tenants. If you haven’t given it a thought, here are four reasons maintaining a periodic renovation regime makes sense for your multifamily housing units.

1. Attracts More Tenants

Renovating a property makes it more appealing to the target audience. When getting your property renovated, make sure you are aware of what’s in and what is it that attracts tenants the most. It is advisable to hire a multifamily housing renovation contractor who can advise you on the changes that you should be making to your property so that more number of prospective tenants are interested in your property.

2. Increases Rentals

A person looking for of an apartment on rent would rather pay more for a well equipped and contemporary housing unit than for an obsolete and unattractive one, no matter how cheap the latter is. Renovating your multifamily property not only helps ensure that it gets rented sooner, but it also allows you to ask for more rentals.

3. Increases Age of the Property

Most property owners focus only on cosmetic changes done to the exteriors and interiors of the multifamily property. They don’t do much for the structural repair and maintenance of the property. As a property owner you must also focus on the periodic structure repair as it reinforces structure strength, and enhances the life of the property.

4. Prevents Bigger Expenses

Replacing inefficient HVAC units and conventional windows with energy-efficient ones can bring down your energy bills. Similarly, getting big building structures such as roofs and floors repaired on time, helps prevent any major repairs that may arise because of lack of timely maintenance. Similarly, there are several other repairs and replacements which if done on time can save you thousands of dollars.

Wrapping It Up
Periodic multifamily housing property renovation is not an option but a necessity to ensure business sustainability as well as profitability. Lack of periodic maintenance not only lowers the visual appeal of the building but also renders the units uninhabitable. It is, therefore, advisable to seek the assistance of a professional multi-family renovation company that takes proper care of your multifamily property.