Article | April 3, 2020
It is where the AI (Artificial Intelligence) takes over days worth of a real estate agent's hard work and computes results in a second. We are moving at an unprecedented pace in technology and everything seems to be moving faster with time - Data capture, data analysis, home comparables, broker commission splits, transaction timeline and much more. As AI (Artificial Intelligence) and IOT (Internet of things) take over most of the work of Realtors, the biggest question that lies ahead is "What is the future of Real Estate & Realtors? Would AI replace real estate agents in the near future or will there still be an inert need of knowledgable professionals when people want to buy or sell their homes?"
Article | May 13, 2020
Real estate is always an attractive avenue for keen investors. The prospects of property appreciation and their potential returns keep luring people every now and then.Investment in residential property in India is always on the boom. However, the commercial real estate investing trend is also witnessing a rise. This is because commercial properties for medical care centres, hotels and shopping malls present bright investment opportunities. They provide huge returns on investment in short time. This is because of the high profits involved.
Article | September 15, 2021
Impactful service-enriched housing programs and onsite supportive services build a foundation for serving the unique needs of a rental community’s tenant base. Quality services that address the individual concerns of each resident help eliminate the challenges that force turnover and increased expenses for property managers. Service-enriched housing includes the incorporation of programs and services within a community that advances the social and economic skill set of tenants.
Meeting net operating income (NOI) and covering debt service obligations are key performance indicators for property managers. Tenants must be valued because they are crucial to improving the financial performance of a community or property. Without support in discovering a realistic path to self-sufficiency, these improvements made will not promote the stabilization of a tenant population.
The key outcome for a community through the implementation of service-enriched housing programs is internal revitalization. Tenants benefit socially and economically from services that support access to job readiness, education and financial growth. During this time of economic instability, our resident services coordinators help remove barriers that plague many living in rental housing communities. Through its partnership with Esusu, Rainbow has alleviated tenants’ significant economic hardship by bridging default payments with no-interest loans. Tenants can use the company’s rent reporting platform, which sends on-time rental payment data to the three major credit bureaus – allowing them to build and develop their credit scores.
Prioritizing tenant empowerment offers tangible and intangible changes in a property, leading to increased financial performance and improved tenant retention. It also reduces turnover costs for property management such as flooring, paint and reletting fees. Free programs and services also improve the marketability of a property to prospective tenants. Rainbow communities have seen a reduction in community vandalism since the implementation of youth enrichment programs that keep children engaged and supported in their education.
Quality service-enriched housing programs, such as those offered by Rainbow Housing Assistance Corporation, provide direct access to resources that support the needs of physically and mentally disabled individuals, veterans, chronically homeless, single-parent households, families and seniors. Additionally, this type of outreach attracts the interest of local city, state and federal agencies as it helps stabilize the most vulnerable communities, cutting city and government expenses on a number of levels. This type of approval can even lead to further funding and support for initiatives that will enrich the future of affordable housing services.
Key programs and resources address life skills, financial intelligence, education, employment, youth and senior programs, resources to eliminate emergency situations, and social development in a multifamily community. The implementation of a professional, service-enriched housing program with onsite staff ensures that these offerings are tailored to each community and primed for longevity. A stable tenant base will determine the solvency of a community and reposition the financial performance of an asset.
Article | March 9, 2020
Real estate is changing. Between iBuyers, new technologies, and the instant gratification economy, the traditional real estate industry of slow-moving mechanics and inefficiencies isn’t going to survive unless something changes, and fast. We’re already seeing companies like Carvana removing the necessity for someone to go to a salesman or car dealership to purchase a vehicle. So, why couldn’t Zillow or another major player do this with real estate? But most importantly, how could these changes affect the job market for the 1.3 million real estate agents in the United States? This isn’t a common belief but it’s certainly an interesting idea. When companies within an industry or even massive empires throughout history are faced with adversity and conflict, one of their first instincts is to centralize and consolidate their power. They need to control their fate and the only way to do that is by taking charge and directing its employees and assets to overcome the competition. As we know, real estate agents operate as 1099 independent contractors. They simply “hang their license” under a brokerage. At the end of the day, it’s their own individual business.