The General Assembly has completed legislative work for the year and there are several bills that will affect operations onsite. - Fair Housing in VA Will Have New Protected Classes - Residents Have the Right to Repair and Deduct Costs from Rent (in specific circumstances) - A Tenant Bill of Rights will be Developed and Apartment Staff will Distribute - Late Fees will Have a Cap
Visit https://www.naylornetwork.com/vam-nwl/pdf/030920_VAMA_Final_Full_Legislative_Report.pdf to view the full article online.
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Richmond City Council has voted to end tax abatements for rehabilitations unless there is an affordable housing component.
Visit https://richmondbizsense.com/2020/02/13/rehab-tax-exemption-changes-worry-city-developers/ to view the full article online. |
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This new fund is aimed at areas recovering from a diasaster as declared by POTUS.
Visit https://finance.yahoo.com/news/fannie-mae-announces-50-million-160000200.html to view the full article online. |
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It’s funny how people cringe with the mere mention of a job in “sales.” Even better, the reaction you get when you ask them to describe a salesperson. Yet, statistics show that 5% of self-made millionaires are men and women who are the top salespeople in their fields, making sales the fourth major source of self-made millionaires in America. (Tracey, 2020) Drop the sales stigma and level up with these 7 sales tips used by the pros! Visit https://www.naylornetwork.com/vam-nwl/articles/index-v4.asp?aid=606805&issueID=71871 to view the full article online.
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Escalating employee turnover is one of the biggest challenges facing multifamily supervisors today. It can seem as if your best employees are always the first to depart. Why is that? Sure, it’s easy for the most qualified individuals to find other, more attractive opportunities; that makes perfect sense. But the bigger question is: Why were they looking in the first place?
Visit https://www.naylornetwork.com/vam-nwl/pdf/Four_Secrets_for_Fighting_Employee_Turnover_Kara_Rice_VAMA2020.pdf to view the full article online.
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We know that when it comes to buying something, people don’t like “grouchy, uncaring, or lackluster” salespeople. So, here are some great ways to avoid those winter “dull drums” and maintain that positive spirit of good sales skills.
Visit https://www.naylornetwork.com/vam-nwl/pdf/Rekindling_Your_Leasing_Fire_During_the_Winter_Months_JRamstedt_2019.pdf to view the full article online.
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We could all use a halftime! During this past Super Bowl (how long does that seem now?) much of the post-game attention was on the halftime show. While Shakira and J-Lo were performing, the coaches and players weren’t just hanging out and watching the show, they were at work planning for the second half of the game. After all that is what halftime is for! To reflect on what worked, what didn’t work, and then create a plan to win the game. Take a personal halftime and set your goals.
Visit https://www.naylornetwork.com/vam-nwl/pdf/VAMA_Halftime.pdf to view the full article online.
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Visit https://www.vamaonline.org/page/VAMAScholarshipInfo to view the full article online.
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UVA has announced an initiative to build 1,000 affordable housing units in central VA on land it currently owns. UVA plans to partner with affordable housing developers and managers.
Visit https://www.dailyprogress.com/news/local/uva-announces-goal-to-create-affordable-housing-units/article_0d31dba4-09e6-5760-a23e-b579764fad54.html to view the full article online. |
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An additional phase is planned for Village at Westlake after the initial 250+ were well absorbed.
Visit https://richmondbizsense.com/2020/03/03/22m-project-to-add-more-apartments-off-jahnke-road/ to view the full article online. |
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The property will offer 70 one-bedroom and 5 two-bedroom market-rate apartments built next to the community garden in Manchester, just south of Richmond's downtown area.
Visit https://richmondbizsense.com/2020/02/27/75-unit-apartment-building-planned-beside-community-garden-in-manchester/ to view the full article online. |
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A 168-unit tower is in the works, which plans to take advantage of the transportation corridor incentives. The building is planned for the corner of Broad and Lombardy.
Visit https://www.richmond.com/business/story-apartment-building-planned-for-broad-and-lombardy-streets-near/article_7572f987-14e7-5270-8c8b-f6ee648a6617.html to view the full article online. |
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In an interesting property transfer, Park's Edge apartments' purchaser will not only have to win a bid but VHDA will have to approve the buyer due to financing. The community is listed for sale at $7.7 Million.
Visit https://www.cvilletomorrow.org/articles/affordable-apartments-in-the-countys-urban-ring-is-up-for-sale/ to view the full article online. |
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Scott's Addition is getting a large new community along with retail development in Scott's Addition at projected spend of $32.4 Million.
Visit https://www.virginiabusiness.com/article/32-4m-apartment-complex-coming-to-scotts-addition/ to view the full article online. |
