Snapshot

Virginia Apartment Management Association

VAMA News
A San Francisco based startup has a new approach for rent to own which may sound familiar to some in apartment management.  You lease the house for 3 years and a portion of the "rent" is actually kept in savings for the resident.

Visit https://www.marketwatch.com/story/a-vc-backed-startup-thinks-it-can-take-a-fresh-approach-to-rent-to-own-2018-10-09?utm_source=BizSense+Backup&utm_campaign=b130d22982-EMAIL_CAMPAIGN_2018_10_09_11_53_COPY_01&utm_medium=email&utm_term=0_916386f49f-b130d2298 to view the full article online.

 
Do you know how to spot a fake application?  Do you have a plan in place if you find one?  

Visit https://www.naahq.org/news-publications/concern-growing-about-fraudulent-resident-applications?utm_source=Pardot&utm_medium=Email&utm_campaign=Operations-Insights to view the full article online.

 
Matt Spencer, chair of NRVAC (New River Valley Apartment Council), the VAMA affiliate in Blacksburg, is quoted in this article.  RLRAC will hold this class again in Lynchburg, VA.

Visit https://www.roanoke.com/news/local/christiansburg/the-business-of-active-shooter-readiness/article_1008d06e-a597-5670-8f28-7468d7a1220b.html to view the full article online.

 
First Atlantic Restoration Inc
Belfor USA
Build Your Skills
It's always the right time to plan and practice your "elevator pitch".  An elevator pitch may never actually happen in an elevator but it never hurts to be able to describe your business in 40 second or less.  Pro-tip:  also develop a personal pitch that describes you and your goals in 40 seconds or less.  You never know when you may meet the person that can connect you with your dream job!

Visit https://www.inc.com/jeff-bercovici/dreampitch-perfect-elevator-pitch.html?cid=hmside2&utm_source=BizSense+Backup&utm_campaign=a06a684b83-EMAIL_CAMPAIGN_2018_09_19_11_40&utm_medium=email&utm_term=0_916386f49f-a06a684b83-148081777 to view the full article online.

 
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Drucker and Falk, LLC
Development News
Land is being disturbed along Lincoln Road as old sturctures are torn down to make way for 300 apartments.

Visit https://www.newsadvance.com/news/local/timberlake-road-development-plan-calls-for-nearly-apartments-sheetz/article_aa3a385e-b1e2-5ed6-bb78-c6a425149fda.html to view the full article online.

 
An out of town developer has submitted plans for 300 apartments at the intersection of Cosby and Otterdale roads, in Chesterfield’s Woodlake area.

Visit https://richmondbizsense.com/2018/09/13/alabama-firm-eyes-300-apartments-chesterfield/?utm_source=BizSense+Backup&utm_campaign=602ea754db-EMAIL_CAMPAIGN_2018_09_13_12_01&utm_medium=email&utm_term=0_916386f49f-602ea754db-148081777 to view the full article online.

 
A developer seeking to erect a mixed use project in the Manchester area of Richmond is promising 20% of the units will be for individuals making 80% of less of the area's median income.  The promise was made to help secure tax abatement of $4.5 Million and also includes a promise of "public" space.

Visit https://www.richmond.com/news/local/city-of-richmond/in-reversal-developers-pledge-affordable-units-in-manchester-project-up/article_fa4786e2-5640-5ce0-9408-0df26b067632.html to view the full article online.

 
The former Department of Game and Inland Fisheries Building on Broad Street in Richmond will be torn down and the land will be home to The Belmont apartments.

Visit https://richmondbizsense.com/2018/09/10/developer-readies-revamp-former-dgif-campus-broad-st/?utm_source=BizSense+Backup&utm_campaign=e90f885f5e-EMAIL_CAMPAIGN_2018_09_11_12_02&utm_medium=email&utm_term=0_916386f49f-e90f885f5e-148081777 to view the full article online.

 
An old postal warehouse on Brook Road may be torn down to build 224 apartments.  Rezoning from industrial to multi-family is necessary first.

Visit https://richmondbizsense.com/2018/09/25/32m-project-bring-hundreds-apartments-near-vuu/?utm_source=BizSense+Backup&utm_campaign=78eb3b0323-EMAIL_CAMPAIGN_2018_09_24_11_41&utm_medium=email&utm_term=0_916386f49f-78eb3b0323-148081777 to view the full article online.

 
Henrico County is planning a complete overhaul of the Westwood Avenue corridor adjacent to Scott's Addition in order to capitalize on all the new businesses coming to the area.

Visit https://richmondbizsense.com/2018/09/21/scotts-addition-2-0-henrico-zeroes-westwood-avenue-corridor/?utm_source=BizSense+Backup&utm_campaign=db33bbcf17-EMAIL_CAMPAIGN_2018_09_20_11_34&utm_medium=email&utm_term=0_916386f49f-db33bbcf17-148081777 to view the full article online.

 
A Jackson Ward development has received significant financing through VHDA and HUD for senior apartments.

Visit https://commercialobserver.com/2018/10/richmond-affordable-housing-seniors/ to view the full article online.

 
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The Virginia Apartment Management Association
An Affiliate of the National Apartment Association
2812 Emerywood Parkway, Suite 231, Richmond, VA 23294

Phone: (804) 756-VAMA
info@vamaonline.org