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March 2014 In This Issue
Statewide News
Industry News
Industry Events and Education
Local Chapter Updates
First Atlantic Restoration Inc
Belfor USA
Statewide News
This year, VAMA has further augmented its legislative program in a very significant way by engaging new members in the policy process. In the course of the 60-day session, several groups of VAMA members have visited the Capital and General Assembly Building. Through these efforts, VAMA has managed to rise above the partisan acrimony and advance several positive measures to save the commercial and multifamily real estate industries on their bottom lines and protect against harmful and onerous regulation and bureaucratic red tape.
Themed "Right Here, Right Now" - the 2014 state conference will inspire you. 15 cutting edge sessions, a supplier trade show and a great time networking with your peers.
Believe it or not the 2014/2015 school year is just around the corner and this year the Central Virginia Apartment Association is partnering with the United Way of Greater Richmond & Petersburg in their Early Childhood Initiatives/Smart Beginnings Greater Richmond Program to assist in getting the word out about Kindergarten Registration in the area.
Industry News
The share of new homes being built as rental apartments is at the highest level in at least four decades, as an improving jobs picture spurs younger Americans to form their own households but tighter lending standards make it more difficult to buy. Residential construction—a pillar of the economy and employment—is starting to ramp up again overall, but in previous years the growth was driven by single-family homes. Last year, according to census data, construction was started on a little less than one million new residential units, and about one in three of those was a rental in a multifamily building, the highest share since data began in the mid-1970s. Single-family homes accounted for about two-thirds of housing starts last year, down from their peak of 87% in 1993 and about 80% in the years leading up to the recession, the census data showed.
While almost every real estate professional with an opinion says that apartment complexes with over 150 units are the way to go, it’s not necessarily true. Multifamily complexes are indeed a great investment. However, what you really want to invest in is where you earn the most rent per unit. Often that is in complexes with less than 100 units. When you are making a purchase bid for a large complex, you are often bidding against financial intuitions with deep pockets. This creates two distinct disadvantages for you as an individual investor.
Industry Events and Education
You may know him as Alex P. Keaton, Marty McFly or Mike Flaherty, but truly no introductions are needed for 2014 NAA Education Conference & Exposition—June 18-21 in Denver—Thursday Keynote Speaker: The legendary Michael J. Fox.
Join 7,000 of your closest friends when NAA descends on the Mile-High city for the multifamily housing indus- try’s largest, most important event of the year.
For those of you who missed the 2014 NAA Student Housing Conference & Exposition last week in Las Vegas, not to worry - we have you covered! Click below for a recap.
Local Chapter Updates
We are staying busy at the Blue Ridge Apartment Council with many educational events and seminars. After Hours events and fundraisers are coming up - don't miss a thing.
The Hampton Roads Apartment Council was beyond thrilled with this year’s turnout and wishes all nominees and winners all of the very best. See the full article for a complete list of winners. We have so many wonderful opportunities for you to become actively involved in HRAC events and training so please be sure to LIKE us on Facebook!
Each month HRAC will spotlight a different supplier. Thank you to all our generous vendor members for your support!
Click here to find out if your community could win $5 Million! Find out who the newest members of NRVAC are and check out our save the date section.
Check out this recap of the first CVAA Morning Coffee Break of the year. The topic focused on growth in the Richmond market.
HRAC February Morning Coffee Recap: Renee Pulliam, CPM, CAPS, CAM, HCCP and VAMA President facilitated a discussion on Teamwork and Communication.


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