The holiday season can be an excellent time for selling property as buyers are more serious and motivated to close by the end of the year. Let’s explore how to strike the right balance with holiday décor so it enhances cozy appeal without distractions. Keep it minimal Too much decoration can overwhelm buyers, making it hard for them to envision themselves there. Opt for a simple, elegant theme to avoid overwhelming space. Use a neutral color palette like whites, golds and silvers that complement the interior. Avoid personalized or themed decorations. Highlight key features Use decorations to draw attention to the property’s best aspects. For example, frame a fireplace with a simple garland or neutral stockings to emphasize their warmth and charm. Use string lights or wreaths to accentuate large windows or outdoor spaces. Add greenery or lights to a staircase railing for an elegant touch. Create a cozy atmosphere Use subtle scents like cinnamon, pine or vanilla to evoke warmth without overpowering the senses. Add cozy touches like warm blankets, a crackling fire or candles for an inviting ambiance. Avoid overly bright fluorescent lighting during the showing. Bonus tip: include soft holiday music for a sensory boost. Do not overdo outdoor décor Keep yard decorations tasteful—avoid inflatables or overly busy setups. These can distract from the property’s features and may not appeal to all buyers. A classic wreath, well-placed string lights and a tidy entrance with poinsettias can create excellent curb appeal. Ensure walkways and driveways are clear of snow, ice and debris for safety and accessibility. Avoid decorations that create a cluttered or cramped feeling in rooms Consider downsizing the tree to fit the space while adding a festive touch. Temporarily remove any furniture or items that could make the space feel...

Fall is a perfect season for property owners of short-term rentals to offer the best fall essentials and aesthetically pleasing elements. These unique features can transform the property into a home away from home for guests, enhancing their cozy rental experience. Aesthetically pleasing When it comes to fall decorations, it’s all about creating a warm and inviting atmosphere. Beyond the traditional cornucopias, a warm color palette and seasonal colors can transform the property into a cozy haven. Think deep reds, muted browns, and this year’s Pantone color of the year, peach fuzz. This versatile shade can adapt to different style preferences, making it perfect for a warm and cozy aesthetic. Incorporate these colors into throw pillows, blankets and curtains to instantly evoke that fall feeling. Don’t forget to bring the outdoors in with natural elements like pinecones, dried leaves, acorns, apples and mini pumpkins. Display them in bowls or baskets on tables and countertops to add a rustic, autumnal touch. Visual interest and dimension Focus on textured layers and comfort items, such as adding chunky knit blankets, plaid throws and soft area rugs. Include some fuzzy socks or slippers in the same color palette as the interior for extra comfort. By layering different fabrics, it makes spaces feel warm and inviting. Layer scents for a fragrance fiesta with various scented candles throughout the space, creating a three-dimensional cozy candle scent experience. Choose seasonal colors, shapes, and candles of different sizes. Light it up Since candles offer a warm, soft glow, include lighting that mimics that same feeling. String some fairy twinkle lights or lanterns to add ambiance. Dimmable bulbs can also make spaces feel warmer. If located in more of a chiller location, have the ultimate outdoor experience with outdoor fire pits or patio...

It’s the season to be a little spooked with thrills and shrills! Let’s explore why some cities in America have become ghost towns, and if being drawn to the mystery piques your interest, gather with some friends and uncover some real estate mysteries this fall. Many abandoned cities in America are due to the Gold Rush and industrial sites founded in the Gilded Age. Some began as lucrative mining communities that vanished almost overnight, and some are victims of new railways and infrastructure. Others were hit with natural disasters like tornados that flattened out the entire town. Hollywood movie producers and writers have been inspired and even filmed in a few. Pennsylvania. Being one of the most populous states in the country, Pennsylvania is home to many ghost towns and abandoned cities. On the western side of the state, in a suburb of Pittsburgh, Lincoln Way is an eerie little abandoned neighborhood that has become an attraction for urban explorers. Legend states that a “Beast of Lincoln Way,” a mysterious creature with glowing eyes and a haunting howl, terrorized residents, leading to the abandonment of the homes. In reality, it’s gloomier, with most residents moving away due to pollution from the emissions of the steel plant and older residents passing on. Still, many fascinating stories date back to the early 1900s, and in its final days, it is indeed an eerie, post-apocalyptic street. In eastern PA, Centralia was a thriving coal-mining town, but now, only a handful of people live there, mainly due to the coal mine that caught fire in 1962. The coal seen fueling the fire is expected to last another 250 years. This burning ghost town would not have even been recognized had it not been the inspiration for the 2006 horror...

Regular maintenance in the fall can save property owners significant money and stress down the line. Here are five things to do to prevent minor problems from becoming major this season and beyond. HVAC Tune-up Preparing the HVAC system for the colder months is essential to keeping the property comfortable and energy efficient. Change air filters regularly to improve air quality and system efficiency. Clean out air ducts to ensure proper airflow. Have maintenance inspections for thermostats and upgrade to a smart programmable thermostat for better energy control during the winter. With the changing season, send email reminders to residents to keep up with the air filter changes with a quick maintenance request in their resident portal. These steps prevent potential breakdowns and improve energy efficiency, lowering utility costs and making the property more appealing to energy-conscious consumers. Roof & Gutters The roof is the first line of defense against winter weather, making fall the perfect time for any necessary maintenance. Inspect for loose or missing shingles to prevent leaks. Check chimneys, vents, and skylights to ensure the flashing is sealed correctly and free of cracks. Gutters are crucial in safeguarding the property’s foundation and roof. Clogged gutters can lead to water overflow, damaging the siding and foundation. It’s essential to clean out leaves, sticks and debris that may accumulate during the fall. Check downspouts to ensure water is being directed away from the foundation. Inspect for any gutter damage such as cracks, sagging or leaks and have maintenance repair them promptly. Regular gutter maintenance during the fall can prevent costly water damage, foundation erosion and ice dams in the winter. Weatherproofing Weatherproofing a property is not just a comfort issue. It’s also about saving on energy costs. Improve energy efficiency when a resident...

Local attractions have a lot of influence when buying property, especially in the summer, since nature is most attractive, and the energy level is monumental. Let’s delve into how to highlight the summer charm that cities offer. Local attractions. Start with the key local summer attractions such as popular parks, nature trails, and recreational facilities. If the property is located near one of the top ten national parks in America, highlight that feature and the unique experiences surrounding it. For instance, the Everglades in Florida, home to many rare and endangered species like the American crocodile and manatee, offer a unique and diverse natural environment. Or the Redwood Forest, which is more than just a collection of trees. It also protects vast prairies, riverways and almost 40 miles of coastline, providing a unique coastal living experience. These distinctive aspects of the local attractions make the properties in these areas more appealing to potential buyers, sparking their curiosity and excitement. Annual summer festivals, fairs and community events can also influence buyers’ move. In Atlanta, the annual Decatur Arts Festival transforms the streets of downtown Decatur into a vibrant artistic hub. It features diverse visual and performing arts and interactive experiences, fostering a sense of community and making residents feel like an integral part of the local arts scene. Don’t forget about local markets and food festivals. Farmers’ markets, food festivals and local culinary are significant for attracting buyers to the area. Houston’s BBQ Festival celebrates its 11th year with an impressive lineup of the best barbecue joints in the city. Many towns offer local farmers’ markets with fresh produce, local vendors and unique food experiences. Pikes Fish Market in Seattle offers fresh, wild, premium Pacific seafood. This emphasis on the quality and variety of local...

When reading about real estate in publications or online platforms, have you ever wondered why the word “realtor” is often in capitalized letters or marked with a registered trademark symbol? Or what the difference is between “REALTOR” and “real estate agent?” Second question first. While the terms are often used interchangeably, there are significant differences. The rule of thumb holds that all REALTORS are real estate agents but not every real estate agent is a REALTOR. Through coursework and exams, real estate agents have earned a license to help people buy, sell or rent property. Their job includes evaluating property values, advertising properties, negotiating deals, and guiding clients through mortgages, legal agreements and other elements of a real estate sale or purchase. A REALTOR, on the other hand, is a real estate agent who has undertaken additional training and commitments. The first step toward becoming a REALTOR is joining the National Association of REALTORS® (NAR), which, with more than 1.5 million members, is the U.S.’s largest trade association. Prospective REALTORS must join an NAR-affiliated local real estate board or association as well. They also agree to abide by NAR’s Code of Ethics, whose strict standards of business conduct are reinforced through regular ethics training throughout a REALTOR’S career. (Brokers are another example of real estate professionals who have completed additional education and licensing requirements. Working independently or with other brokers, they can hire real estate agents; manage marketing, hiring, training and other business operations; and help execute complex transactions, among other things. Here again, a REALTOR can be a broker, but a broker isn’t necessarily a REALTOR.) Benefits of NAR membership and REALTOR status include additional opportunities for networking, training, mentorship, potential clients and political advocacy. Now back to the use of the word...

Buying property is not just an investment. It’s a potentially lucrative venture that can significantly influence various aspects of life. Let’s explore how the impact of arts, culture, and local events can uniquely influence the real estate market for a promising return on investment. Positive impacts. Popular events draw more visitors and potential buyers to the area, increasing the demand for real estate. For example, New Orleans is a vibrant music city with festivals like Jazz Fest and French Quarter Fest, which draw in thousands of visitors yearly and have a notable impact on the city’s real estate market. Jazz Fest has a ripple effect, with property values having a noticeable uptick, increased rental demand, and neighborhood development. It also fosters a strong sense of community pride and identity among residents of Mid-City and Gentilly neighborhoods, creating a sense of belonging and appeal for potential buyers. Successful events. Signature summer festivals, like the Bonnaroo Music and Arts Festival in Manchester, TN, have positively impacted local real estate trends and the economy and demonstrate the long-term effects of annual events on the market. These events, which bring in millions of dollars in city-wide profit and create thousands of job opportunities, have a sustained influence on the market, providing a sense of security and confidence for potential investors in their long-term investments. Overall, these successful events are a driving force behind the appreciation of property values within the community. Challenges and considerations. Temporary crowds and noise are potential downsides of living near event locations. Some locals may even leave town due to the increased tourism and traffic events bring with them. Buyers should evaluate these considerations and see if the temporary crowds and noise are worth the ROI. Market volatility in event-driven demand can lead to...

As real estate investors, putting in the work is required for the most significant ROI. Real estate investing can be a one-and-done deal or a strategy with more work but higher profits. However, using the BRRRR method, recover as much capital as possible from a project. Let’s delve into the BRRRR method and how to use it to negotiate deals, scale up your real estate portfolio and build a team for success. The BRRRR Method. Buy, rehab, rent, refinance, repeat—the acronym for the smart investor’s investment cycle and should be repeated in that order. This method works best for those who have a good understanding of the rental market in their area as well as rehab costs. Getting good at this method takes some time and has a learning curve. Still, once done correctly, the BRRRR method is a sustainable way to buy properties quickly, generate passive income and begin that generational wealth. Here’s what to know: Buy. Purchase an undervalued property. Use short-term financing that can help get the funds quickly to make renovations. Aim for a 70-75% rule as a rule of thumb. Never pay more than that percentage of the estimated after-repair value. The 30% cushion helps offset repair costs while giving sufficient equity to qualify for a refinance. Rehab. Rehabilitate the property with repairs and improvements as seen fit. Rent. Rent out the property to a qualified resident and earn rental income. Use a good insurance policy like ResidentShield to protect you and your residents from damages. Refinance. Refinance will be used to cash out on the equity appreciation. Keep in mind that it is not uncommon for lenders to have a six-month waiting period from when the property was acquired before refinancing is allowed. Repeat. Repeat and buy another...

Short-term rentals have become a popular secondary income source for many, whether you are renting out a room above your garage or a family cabin in the nearby National Forest. Here’s a quick guide to how to get started as a rental provider. Understanding platforms. Understand the different platforms for short-term rentals. Airbnb is the most well-known. The advantage of Airbnb is that it will get the listing in front of more views than any other platform. Airbnb does not charge for listings but will take a percentage of the commission. Vrbo, caters to more families or those traveling with pets since it allows them to list the entire home, not just spare rooms. Vrbo lets you choose to pay per booking or as an annual subscription. Booking.com will get the most exposure and is the largest travel booking website in the world, but it comes with a 15 percent fee for all reservations. Expedia is like booking.com, but costs can be lower than those of competitors. Vacasa is a full-service property management firm, meaning it handles cleaning and routine maintenance, but charges 25-35 percent of bookings. Homestay.com allows owners to rent out a room or two and charge a little less and accepts barter instead of money. Remember not to limit yourself to just one short-term rental site. Utilize a few so you can make the most money. Research trends. Keeping up with trends is vital when starting in the STR market. Read the latest news and real estate predictions at Yardi Matrix. Adjust Pricing. Consider manually reviewing and adjusting pricing to ensure it reflects the property’s unique features and current demand in the area. Finding the right balance between automation and manual intervention can lead to more competitive rates and increased revenue...

Real estate has long been a popular side hustle – in other words, a job that is performed in addition to other work or responsibilities. Choosing a real estate side hustle can be challenging since some roles require a heavy financial commitment to get started, like investing in rentals or flipping properties. Let’s explore a few of the lower-risk options. Airbnb Hosting. Airbnb hosting has been a popular side hustle for many property owners. The Airbnb host makes, on average, $924 a month, depending on the location and frequency of rental traffic. Airbnb hosting will require investing in the property, keeping it clean and minimal with appropriate decorations and furniture, and adequately stocking the property for guests. Property Data Collector. Not to be confused with a property appraiser, property data collectors record facts, not opinions or judgments. Property data collectors then use the information gathered to draft a property data report, which they submit to the appraisal management company. According to ZipRecruiter, the national average pay is $20/hour. Staging Business: Taking photos of properties and staging the property to be prepared to hit the market. Requires some interior design knowledge. The goal is to help buyers visualize themselves there and aid sales appeal. Real Estate Wholesaling: Real estate wholesaling is a strategy in which a wholesaler obtains a contract on a property with its seller and, in turn, sells the contract to an investor. Wholesalers start by looking for discounted property to put under contract. This is a good option for those looking to become an investor but do not have enough capital. One attractive aspect is that wholesaling does not require special licensing or certifications in most states. For example, some real estate wholesalers in Georgia can earn close to $72,000 annually with...

Halloween is around the corner and got us thinking some spooky thoughts—the market for “probably haunted” real estate. In New Orleans, “haunted” properties are so common that some properties include “not haunted” tags on their For Sale signs. Let’s delve into some practical advice for individuals interested in purchasing a potentially haunted property. In a recent article, a funeral home in Massachusetts was listed. Instead of the traditional “for sale” sign, the real estate agent decided to pique the interest of paranormal enthusiasts and staked a sign outside that read “probably haunted.” Is the property haunted? Nobody can know for sure, but given the history, it’s a possibility. Every state differs on what is to be disclosed to buyers. Material defects such as a leaky roof or older HVAC systems are disclosed, but life gets a bit more interesting when the house’s flaws may be tragic, gruesome or paranormal. A murder-suicide inside the house is considered a psychological stigma and does not constitute a material defect. One caveat is that a seller cannot misrepresent a property’s history. If asked about crime scenes or family tragedies, a seller must be truthful. Buyer Beware: We are Haunted. Caveat emptor is a common law doctrine that places the burden on the buyers to reasonably examine property before purchasing. A buyer who fails to meet this burden cannot recover for defects in the product that would have been discovered had this burden been met. Buyers need substantial “due diligence,” especially if the price of the home is “too good to be true.” Knock on the neighbor’s door or hire a medium, because you’ll likely never know if you don’t ask. Research local town legends and the historical records of the building, especially if it is a particularly older...

Realcomm’s August two-part webinar series, Celebrating Women and the Diverse Voices in CRE, highlighted the talent, thought leadership and unique mindsets that have enhanced commercial and corporate real estate as more women, minorities and diverse thinkers fill executive leadership positions and advanced technology roles as well as facilitate key vendor partnerships. Insights on career paths and navigating challenges In session one, Leadership, Diversity & Evolving Company Cultures, the executive-level women panelists talked about how workplace culture reflects the values of company leadership and can shape employee interactions as well as promote motivation and loyalty. With new voices in the leadership space, the panel discussed changes in leadership modeling, evolving workplace challenges, the critical role that mentorship plays and how companies are attracting new talent. A big theme among the panelists’ stories of their personal journeys was about receiving mentorship and support and becoming a mentor themselves to help other people advance and open up opportunities. Further, working with good leaders taught them how to become good leaders. Another common theme was about advocating for yourself. Hope Dunleavy, enterprise managing consultant at RealFoundations, stressed the importance of reaching out, being authentic and sharing your story while also listening to others’ stories. The panel agreed on the importance of creating community for support — such as joining (or creating) a women’s group in your organization, which Kelly Soljacich, senior vice president of LaSalle Investment Management, recommended. Veronica Unnikrishnan, partner and senior vice president of innovation, sales and marketing at 5Q Partners, commented that choosing the right organization and positions that will lift you up “is where the magic happens” and will help you grow and develop your career. Further advice included choosing the best opportunity over the most money is a wise decision in the long...

We compiled predictions from expert observers to get a sense of what’s in store for the real estate industry in 2022. Excerpts follow. Foreseeing a ‘whirlwind housing market’ Pandemic-ignited home-buying, driven by supply shortage and low mortgage rates, shows no signs of slowing down. “We expect a whirlwind 2022 for the housing market,” says Danielle Hale, chief economist for Realtor.com, with home sales increasing 6.6% and home prices 2.9% above 2021 highs despite a small uptick in inventory. While affordability, rising interest rates, and supply and labor shortages will continue to pose challenges, “home buyers should find the coming months to be more advantageous than any time in 2021. While sellers remain in a very strong position, price stabilization and the continuation of competitive interest rates may bring some welcome relief to buyers in the new year,” notes Nick Bailey, president of RE/MAX LLC. Home living tops investment U.S. real estate remains among the most attractive and largest asset classes for investors and families alike. “For the second year, homeowners have told us that their main reason for taking on projects around the home is to better meet their needs. Before the pandemic, return on investment was the primary motivation. This is a huge shift and something we know will continue throughout 2022, especially as people continue to spend more time at home,” says Robert Morgenstern, principal of New York City-based Canvas Property Group. Tech amps up Property management technology’s capabilities and use will continue to grow for reasons of convenience and social distancing. “With the right data collection tools and overall acceptance by industry professionals, real estate will greatly benefit from the increased use of technology in 2022,” according to Paul Ryll, owner of Oscar Mike Mobile Appraisers of Greenville, S.C. And with...

We can glean interesting insights from our Google search habits. Our internet queries reflect our interests and preferences. They offer a peek into what we can expect (or hope for) in terms of style, price, location and features in our home. To better understand our shifting interests during the pandemic, researchers at Point2Homes.com pulled search term data from Google Keyword Planner. This is what they discovered. What are we seeking during the pandemic? Researchers at Point2 observed the following in the past three years: Homebuyers sought affordability among pandemic markets rife with construction delays, skyrocketing supply prices and labor shortages. A few of the most popular search terms were “affordable homes for sale,” which increased by 108% compared to pre-pandemic searches; “first-time homebuyer” and “tiny home for sale” came in as second and third most searched terms.  “Buying a second home” also showed significant interest, with searches jumping 53% in 2020 compared to 2019.Renters searched for financial aid to ease economic uncertainty and hardship. “Rent relief,” which received only about 90 searches per month in 2019, spiked to 9,900 per month in 2020 and 49,500 in 2021.Current homeowners explored ways to make the most of their equity and current interest rates. The search for “mortgage refinancing” increased by 124% in 2020 compared to 2019.Remote employees searched for ways to make their home more conducive to work. The key phrase “home office design” remained popular in 2020 and 2021. What were we interested in buying during the pandemic? While “affordable homes for sale” and “tiny homes for sale” saw improved popularity, homes on the other end of the spectrum demonstrated an uptick as well. Queries for “luxury homes” and “penthouse for sale” both increased by about 50% between 2019 and 2020. In 2020, searches from...

Non-fungible tokens, or NFTs, may have been attracting headlines for the eye-watering sums splashed on digital artworks and virtual land. But behind the hype is a digital key that can help the real estate industry create better experiences in their buildings, foster engaged communities and, ultimately, unlock new value. Mars House, a digital home designed by Toronto-based artist Krista Kim, sold for more than half a million dollars in 2021, changing the way we think about virtual real estate. By the end of the year, a virtual plot of land in online world Decentraland had sold, using an NFT, for a record $2.4 million worth of cryptocurrency. A lot of folks in the real estate sector have made the mental leap and are looking at how NFTs can support fractional ownership and debt financing. But to my mind, what’s even more exciting is the role of NFTs in the future of the workplace. A “non-fungible token,” as the name suggests, is a unique digital item stored on a digital ledger called a blockchain. Ownership of an NFT is easy to certify and transfer, which is why they are being used to tokenise unique items like art, collectibles and real estate. But NFTs can be a bridge between the digital and physical worlds. NFTs can be used as tickets or membership cards, giving people access to events, experiences, products or discounts. Imagine attaching an NFT to each service in a building? Think treadmills in the office gym, entry to Friday night drinks on the rooftop terrace, discounted movie tickets at concierge or yoga class reservations. Each unique NFT can connect a smart building to smart contracts to provide smart services. This idea may sound revolutionary, but it is simply another evolution of the office. The...

Baby Boomers are setting their own pace and style for retirement. Unlike their predecessors, they’re shifting the traditional family dynamic and setting new trends in household formation and housing. They’ve got a lot more in common with younger generations than you (and even they) might expect. Grandma isn’t retiring like her mother Upon retirement, the Silent Generation continued the tradition of multigenerational living. They often sold their home, if applicable, and opted to age with the support of extended family or assisted living facilities. Baby Boomers are behaving differently, and the pandemic has made the contrast even more apparent, reports the New York Times. Boomers are savoring independence for as long as possible. They’re holding on to their real estate, and currently possess 44% of all real estate wealth. That’s more than the Silent Generation at this point in their lives. And with nearly one third of pandemic deaths occurring in nursing homes, demand for such care facilities has continued to drop. As their retirement approaches, Boomers are forecast to shed some that real estate wealth for a simpler lifestyle. But with nursing homes and traditional care facilities low down on their list of options, where will they go? What seniors want in a retirement location Internet listing service RentCafe reports that seniors who choose to rent rather than own has increased by 43% in recent years. In the past decade, net gain of new senior households has outpaced both Millennials and Gen Z. The trend of senior renters is slated for an upward trajectory. Where Boomers choose to rent also varies from their forebears. While Arizona and Florida haven’t lost their appeal, new determining factors are in place. Seniors report that they are most likely to consider the following three factors when choosing...

Federal tax reform enacted in December 2017 reduced or eliminated capital gains taxes for investments directed toward multifamily, commercial and self storage real estate located in more than 8,700 low-income “opportunity zones.” This source of capital was expected to seed startups, accelerate business expansions, create jobs, improve housing options and revitalize built environments in areas where about 35 million Americans live. A Yardi Matrix white paper published in 2019 noted that the zones initially appealed to “a new base of largely untapped investors” and offered value-add opportunities in “new markets that were thought to be too small or risky as investment strategies.” Many policymakers touted opportunity zones as a way to create jobs and lift up underserved communities and minority-owned businesses. Critics assert that the program lacks transparency and mostly helps well-heeled investors and developers. A year-and-half since investors joined the program in earnest (many waited until final Treasury Dept. regulations were released in December 2019), has the opportunity zone initiative fulfilled its promise? Expert opinion is split. The White House Council of Economic Advisors, for example, reported in October 2020 that the program had attracted $75 billion in new investments to distressed American communities, $52 billion of which wouldn’t otherwise have entered the zones, and increased private property values within the designated areas by 1.1%. This infusion of capital represented “a powerful vehicle for bringing economic growth and job creation to the American communities that need them most,” holding the potential to “lift at least one million Americans out of poverty [and decrease] the poverty rate in opportunity zones by 11%,” U.S. Department of Housing and Urban Development official Denise Cleveland-Leggett said at the time. Michael Novogradac, managing partner of Novogradac, a San Francisco-based professional services organization, says the program “has seen notable...

Dealing with the effects of the COVID-19 pandemic has made commercial real estate landlords and tenants focus on new strategies for employee safety. Simultaneously, the industry has had to adjust protocols and practices as calls for equity have become corporate priorities throughout the U.S. and the world. This has created a focus on ESG (Environmental, Social and Governance) strategies to analyze and identify risks, health and growth opportunities. It requires participation from everyone ­– landlord to office employee to maintenance technician – to foster an atmosphere of inclusiveness. Most companies will endeavor to create a culture that sustains a positive environment, especially as many businesses are re-entering the physical workspace. Examples of unique benefits come from Brixmor Property Group, a company who owns and operates over 400 retail centers across the country. As a response to the pandemic, they implemented a mental health awareness program, offering free access to licensed therapists for all employees. Brixmor also created personal development accounts to encourage growth through professional and personal training. These accounts have been used for something as adventurous as sailing lessons or as work-focused as Excel classes. Daren Moss, Brixmor senior vice president, explained on a recent ICSC webinar that the company has also created company-wide awards recognizing community service and ingenuity. These, among other initiatives, help make employees feel they are part of a unique and healthy workplace, while encouraging work-life balance. Companies often have mission or value statements that promote diversity and inclusion, but taking action can be more challenging. Brixmor created a leadership council to assist in best practices and behaviors to promote inclusiveness. This has improved diversity in recruitment and hiring. Mental health has also come to the forefront during the pandemic. Lockdowns, isolation, fear and illness have all had adverse...

“Buildings are the next computing platform.” That’s how Chase Garbarino, CEO of HqO, describes the importance of software and building intelligence as companies seek a safe return to the workplace. Just as books shifted to tablets, music switched from CDs to Pandora and Spotify and taxi service switched to Uber, buildings have transformed from manual and analog to newly digital ecosystems. Without a doubt, the pandemic has accelerated the investment into digital infrastructure for companies of all sizes. On a recent CREtech webinar, “State of Tenant Experience: 2021,” host Michael Beckerman, CEO of CREtech, cited an Ernst & Young report that found businesses could save 11% on per-employee costs by switching to a hybrid work model. This is important for the flexible workspace industry, which has been ravaged by the effects of COVID-19 on workers entering offices. As Garbarino stated, coworking put downward pressure on lease length for years, so the traditional office industry had to focus on customer experience and happiness, partly to counter the growth of coworking. That shift to the value of tenant experience now becomes even more noticeable, as there need to be tangible benefits to returning to an office when a vast majority of employees have not lost productivity working at home. On a recent Realcomm webinar, the panel discussed tech advancements to help workers feel more confident returning to the office. Touchless elevators, apps showing office occupancy and desk availability, as well as air quality sensors that can remove pathogens, are just some of the new ways in which employers are trying to safely welcome employees back. But these advances, as reliable and effective as they are, don’t overcome the fact that only 1% of workers are renting a space outside of their homes while working remotely. Based...