Haunted Places Series: The Driskill Hotel HAUNTED PLACES SERIES: THE DRISKILL HOTEL October 23, 2024 | just for fun, hotel Location: Austin, Texas Architectural Style:Romanesque Revival Built: 1886 As inspectors, we see all sorts of wonderful and strange historic buildings all year long. No day is the same, and there’s never a shortage of surprises. Each year as we head towards Halloween, we like to take some time to learn about some of the most iconic locations across North America, particularly those with a spooky story to tell. This year, we decided to take a look at what was once called the finest hotel south of St. Louis, located in a place the locals proudly claim to be one of the most haunted cities in America. Let’s chat about Austin’s The Driskill Hotel! The Wild, Wild West Back during the mid-1800’s, Jesse Lincoln Driskill was a wealthy cattleman first born in Tennessee who made his fortune in part by selling beef to the Confederates during the American Civil War. This is where he earned the honorific title, “Colonel.” Looking to diversify his wealth, Col. Driskill moved to Austin, Texas by way of Missouri after falling in love with the area and purchasing a lot of land there for $7,500. Intending to create a luxury hotel that could rival those in New York, Chicago, and St. Louis, Driskill went on to heavily invest in the construction of a building that he’d go on to name after himself. $400,000 later (an estimated $92 million in modern dollars) and Col. Driskill had fallen on severe financial hardships leading to the hotel’s closure only 6 months after its opening. Officially, Jesse Driskill’s financial demise was primarily attributed to a harsh frost that decimated his ranching business. However, there are those who say the Colonel’s real woes were due to a terrible gambling addiction, one that culminated in him eventually losing the deed to his prized hotel in a high stakes poker game. Whatever the truth might be, Jesse Driskill passed away before he could see his hotel become the renowned fixture it is today. The Hotel Over the Years The Driskill Hotel has passed through many different hands over the years and at various times portions of the building have served as a bank, a barber shop, and a spa. Of its many notable guests, perhaps none had as strong a connection to the hotel as President Lyndon B. Johnson and his wife, Claudia “Lady Bird” Taylor. In 1934, LBJ and Lady Bird went to the Driskill’s dining room for their very first date; the two would return many times over the years. Johnson would use the site as his chosen location to wait for the results of multiple elections, including his re-election in 1964. The Driskill Hotel has become an iconic cultural landmark for the city of Austin and for the entire state of Texas. With such a rich history, it should come as no surprise that the hotel is also said to have its fair share of encounters with the paranormal. Ghosts of the Driskill Employees, guests, and even singer/songwriters (see Annie Lennox’s account over at the Austin Chronicle!) have had experiences with ghosts at the historic Driskill Hotel. While encounters can vary, a handful of consistent characters and stories have risen to the forefront starting with the founder himself. Also known as “the cowboy,” many visitors swear they’ve seen a well-dressed gentleman with a cowboy hat and a cigar in the hallways and even at the foot of their beds at night. Believed to be the late Colonel Jesse Driskill, those that have tried to turn on the light to get a better look found that the figure had vanished with only lingering cigar smoke in the air as fleeting evidence to the spirit’s presence. Another pair of ghosts that are popular among Driskill guests include the first and second brides. The first bride refers to the spirit of a young woman who walks the halls of the hotel at night in a Victorian wedding gown. As the story goes, this spirit belongs to a woman who was left at the altar, her groom not even leaving a note for explanation. Instead of heading to her honeymoon, the first bride checked into room 525 and hung herself in the bathroom. The second bride is another tragic tale of yet another would-be bride who discovered that her groom was also having cold feet. Only this bride is said to be a socialite from Houston who checked into the Driskill after a days-long shopping spree using her fiance’s credit card. After finding her room (some say the same room–525), the woman is said to have thrown her shopping bags onto the floor, climbed into the bathtub, and shot herself in the stomach with a shiny new revolver. Today, guests just might catch a glimpse of a woman walking the halls of the Driskill weighed down with dozens of shopping bags. This article only scratches the surface of the Driskill’s history and haunts! Visit the hotel yourself and book a tou to see for yourself. This article only scratches the surface of the Driskill’s history and haunts! Learn more about the hotel yourself right here to see for yourself! October 23, 2024 By Melisa Rana General hotel, just for fun 0 0 Comment
Getting the Most Out of Your Flat Roof GETTING THE MOST OUT OF YOUR FLAT ROOF October 9, 2024 | Property Management, Property Maintenance | Save Money, Safety, exterior maintenance, Commercial HVAC From an inspector’s perspective, residential and commercial properties are actually pretty similar to work on. Both properties have the same major concerns such as the water management, the functionality of its electrical systems, and overall structural stability. Commercial properties may be a bit bigger and more complex than your usual residential property, but an inspector’s process will largely be the same regardless of the type of building. With all of that said, there are a few features common to commercial buildings that are a rarity in the residential sector - features that have their own benefits and their own drawbacks. Today, let’s discuss one of those features that are nearly ubiquitous on commercial properties. That feature? Flat roofs. Why Are Flat Roofs Common in Commercial But Not Residential? Whether we’re talking about apartments, office buildings, or warehouses, flat roofing options are consistently a top choice by builders for a couple of reasons: 1. They’re easy to install and they require fewer materials than sloped roofs. Flat roofs are simple and, outside of the logistical issues that come with installing pitched roofs on larger buildings, the reduced cost and time of installation makes them a great choice for real estate developers. 2. They add space for essential systems namely for HVAC units! Commercial properties require heftier HVAC systems due to their larger size, and the large, flat spaces that roofs can offer are a preferred placement choice. Flat roofs can also house other systems like solar panels or comms equipment, and some properties may even use the extra space for a rooftop common area, or community greenery. 3. They’re easier to maintain since flat surfaces are safer to traverse than sloped roofs. All roofs should be frequently inspected and cared for by following a preventative maintenance routine if property owners and managers want their roofs to reach their intended lifespan. Flat roofs allow maintenance professionals easy access to perform their jobs. Flat roofs tend to be the perfect choice for most commercial properties for these reasons and others, but many of these benefits aren’t present in the residential sector. Residential properties tend to prefer pitched roofing options thanks to how they aid water run-off, and homeowners prefer the storage space that attics provide rather than the flat space for unnecessarily large HVAC units. Additionally, while pitched roofs are more difficult to traverse, homeowners don’t mind the tougher roof access since pitched roofs require maintenance less frequently. In short, neither roofing option is superior across the board. Rather, flat roofs and pitched roofs each have their place in the real estate landscape. Solving the Drainage Problem Now that we’ve discussed why there’s a different level of prominence of flat roofs outside of CRE, let’s review the unique concerns that property owners and managers need to be aware of when maintaining their flat roofs. The first concern is - just like with all buildings - water management. As you might be aware, residential roofs tend to be sloped, which allows rainwater to run off away from the roof and, ideally, away from the property’s foundation via gutters and downspouts. Now, you might assume that flat roofs have a problem with water because, well, they’re flat, and they don’t have the benefit of gravity to remove moisture. But the dirty little secret of commercial real estate is that flat roofs are not, in fact, flat. Commercial flat roofs will always have a slight slope which varies depending on its drainage strategy: 1. Flat roofs slope to one end, directing water to a gutter system. Since commercial roofs tend to be quite large, this option isn’t commonly seen on its own. 2. Flat roofs slope towards all outer edges and rely on scuppers to direct water. Scuppers are often incorporated into the commercial building’s design like in parapet walls. While scuppers don’t tend to clog, they are thought to be susceptible to freezing and may not be ideal for regions that face harsh winters. 3. Lastly, flat roofs sometimes slope inwards towards a drain within the roof. This drainage solution is sometimes thought to be the weakest option due to the possibility of clogging, as well as maintenance and repair costs. When drainage systems aren’t working properly on flat roofs, ponding water can form, which can create a considerable weight strain on the roof. Unaddressed standing water can lead to so many issues. For example, you can expect leaks into the building, mold and algae development, and even sagging or sloping roof structure. Other things that can exacerbate the potential for interior leaks include roof membrane punctures from weather, debris, or animal activity, natural structural movement, shrinkage due to temperature change, and (of course) maintenance neglect. Standing Up to Sunbeams On the opposite end of the spectrum, flat roofs run into plenty of problems when they are too dry as well. Just like how our skin tends to tan and burn due to overexposure to the sun, the membrane of a flat roof will tire from constant subjection to sunbeams. Over time, flat roofs can wrinkle and crack, eventually going through a process known as “Alligatoring” where the surface comes to resemble alligator skin. Patching and small-scale replacement is recommended if UV degradation is caught early on, but when left unaddressed this condition will lead to even more opportunities for leaks and damage. With the right knowledge and regular inspections, flat roofing systems can last up to 30 years. To get the most value out of your flat roof, and to limit downtime (and some heartache), give NPI a call for your next commercial inspection! October 9, 2024 By Melisa Rana Property Maintenance, Property Management commercial HVAC, exterior maintenance, safety, save money 0 0 Comment
Managing the Purr-fect Workplace: Should You Allow Pets In the Office? Unleash the Benefits! MANAGING THE PURR-FECT WORKPLACE: SHOULD YOU ALLOW PETS IN THE OFFICE? UNLEASH THE BENEFITS! September 25, 2024 | Property Management | commercial real estate tenants, office space, commercial landscaping, cleaning Fun fact: people like their pets. Whether you’re a dog person or a cat person, you’re likely well aware (along with people all around the world) of how furry friends have the remarkable ability to enrich your life. Many people do wild things to accommodate their pets at home, but in recent years, office workers have been asking for this leeway to expand into the workplace as well. To better understand this new trend, and what property owners should keep in mind if they want to explore becoming “pet-friendly,” let’s take a closer look! The Modern Influence of Pets During the pandemic, an estimated 23 million households added new pets, taking advantage of the increased time at home with widespread remote work. Today, years after lockdowns ended, office workers have grown accustomed to their remote and hybrid schedules. Despite many predictions that these adoptions would lead to mass abandonments, representatives at the Humane Rescue Alliance have found that “pandemic pets” have become permanent parts of their new homes. While statistics show that there’s been a spike in pet-friendly homes in general, young people in particular are becoming inseparable from their cats and canines. Many millennials and Gen Zers are even starting to make major life decisions, like where they live and where they work, based on pet accommodations. In short, people are loving their pets more today than ever before! As a result, CEOs are experimenting with allowing pets at work under the right conditions. Per JLL, major companies like Uber, Ben & Jerry’s and Google (or Alphabet) have made the policy switch in part to attract the best talent. These companies aren’t alone, as industries with younger workforces are particularly seeing the draw like those in the tech sector. Although there’s some disagreement on the ultimate impact of pet-friendly policies, many argue that animals in the office actually encourage collaboration by sparking more conversations. This leads to stronger relationships and a higher level of satisfaction among employees. If pet-friendly offices encourage employees to work on-site while improving productivity at the same time, why wouldn’t companies make the switch? Pets Can Be Problems, Too The issue is that plenty can also go wrong when introducing an animal into a work setting. Pet owners tend to be more accepting of their animals’ negative behavior. In the office, being noisy or disrespectful of someone else’s space can be majorly disruptive. Dogs bite for many reasons, but whether they’re being overly playful, overstimulated, or they’re actually being aggressive, an incident with another co-worker will fall back on the commercial property owner. Liability issues aren’t the only reason why most properties tend to maintain strict no-animal policies. Many people have allergies to cats and dogs, others may not enjoy the general hygienic concerns that come with sharing space with pets, and still others just may not enjoy the inevitable interruptions. When considering all of the factors, the costs just might outweigh the benefits more often than not. Making Pet-Friendly Offices Work With the risks in mind, there are ways to make a pet-friendly office (or any other commercial property) viable if you take the proper precautions. First, and this is an absolute must, add specific language about your pet policies so that everyone is on the same page (including property managers, tenants, employees, and other guests). If you’d like to restrict certain animals from being permitted on the property, base regulations on behavior rather than on breed. Additionally, consider including language that requires the use of leashes, and limit animals to specific areas of the property (common areas and hallways, not offices, for example). With the right forethought, you can reduce the chances of an incident from occurring while also protecting your own investments. After a trial period, you may find that pet-friendly policies aren’t for you, or you may move forward with adding more pet accommodations to your property to make things work even better (such as a dedicated outdoor pet relief space, rather than relying on the existing landscape). Remember to leave room for an easy transition away from your pet policies, whatever you decide. Would you like to have an office dog, or would you prefer to keep pets at home? When inspecting your property, NPI just requests you keep any four-legged friends monitored or take them off site when possible. For all your commercial inspection needs, stick with National Property Inspections. September 25, 2024 By Melisa Rana Property Management cleaning, commercial landscaping, commercial real estate tenants, office space 0 0 Comment
Striking Storefronts: How to Upgrade Your Brick-and-Mortar’s Front Door STRIKING STOREFRONTS: HOW TO UPGRADE YOUR BRICK-AND-MORTAR'S FRONT DOOR September 11, 2024 | Property Management, Property Maintenance, Property Investment | exterior maintenance, cleaning, retail space, restaurant, commercial real estate tenants With the rise of e-commerce, businesses everywhere have had to adapt to creating an inviting digital “front door” to ensure positive virtual first impressions. For most companies, this has meant a robust investment in digital presence, including websites, SEO, review-gathering strategies, and social media. Ironically, the increased attention to online marketing has led some business owners to neglect their brick-and-mortars’ literal front doors. But despite the glut of online-only shoppers, businesses still need a strong, inviting storefront. If your storefront needs a little attention, here are some thoughts on how to start your revamp. Note: revamping your storefront isn’t something just for retailers or restaurants! All businesses benefit from creating a more inviting atmosphere. Plus, a more unique storefront shows investment in your community, and it can make your neighborhood a more vibrant place to be. Rule #1 of Storefront Design Your first focus when redesigning your storefront should be your brand. A clear brand will be consistent across all platforms. This means that whether a client visits your store in person, your business website online, or one of your social media pages, your designs need to have a cohesive feel that conveys the message you intend. For example, a business that wants to convey trustworthiness may include shades of blue in its branding based on color theory (learn more about color theory from marketers at HubSpot). Good business marketing should consistently include this coloring on their social media graphics, on their online store, and in their brick-and-mortar entrance. Additionally, businesses that want to emphasize their years of experience might highlight the historic architecture of their building, while trending brands might want to lean into a more eclectic, colorful design. Whatever your brand is, bring it straight to your storefront and make your entrance a preview of some of the products and services that you’re offering within. Make Your Signage Striking Your sign just might be the most influential factor in enticing a new customer. According to a study by FedEx, 76% of consumers enter a store they’ve never been to before based solely on its sign, 60% of consumers may not enter a store due to a missing sign, and 68% of consumers believe that a store sign’s quality is a direct reflection of a business’ quality. Of all the exterior features, your sign should be a top priority, so focus on making your design striking and intriguing enough for customers to want to learn more. Handmade-style signs are popular and a fantastic option, especially for businesses that want to emphasize their locality. Blade signs that extend from the building are great for busier areas, and the right lighting can really elevate a sign’s impact. Keep Your Facade Clean and Maintained Of course, you can have the fanciest, most unique storefront design, but if you can’t maintain your exterior consistently, these features will fall flat. Notably, window-cleaning tends to get neglected, and it’s important not to put off repainting exteriors for too long. If you aren’t required by local law to apply a fresh coat, consider building this into your budget every five years or so. It can be shocking how much a fresh coat will brighten an area! With this same thought in mind, business and property owners should do what they can to maximize the walkability of their buildings. Just as potholes will make a parking lot less accessible, landscaping issues can cause otherwise willing customers to take their money elsewhere. Keep your exteriors clean and well-maintained to eliminate any deterrents to business. Note: Another great way to clean up an unpleasant area of your storefront might be to commission a mural. Murals show even more community investment and can lead to viral marketing opportunities. Consider Exterior Seating If your storefront has some space to play with, experiment with outdoor seating. Regardless of the type of business you’re running, open public seating will encourage people to linger around your storefront longer and can create a more welcoming, approachable atmosphere. Frequent guests will appreciate the rest, and exterior seating has been known to reinforce something called “social proof.” In case you’re unfamiliar, social proof is a concept in marketing wherein customers are more likely to make a purchase if they see others making the same purchase. Marketers at Sprout Social speak a bit more on the topic of social proof right here! If potential customers see others enjoying your store’s space, they may want to see what all the fuss is about themselves. Vary Your Window Displays Lastly, retailers should know this rule well, but just as window displays should be switched out frequently to keep the space feeling current, managers should consider updating all aspects of their storefront from time to time. Pay attention to what features guests enjoy and comment on the most, and don’t be afraid to play with seasonal trends. Taking interest in your building’s design features shows that you care about your business. Clients will take queues from this evidence, as it can be seen as a reflection of how you treat your customers. Keeping an inviting business starts with a strong maintenance plan, and a strong maintenance plan should start with a comprehensive commercial inspection. Call NPI before you buy. September 11, 2024 By Melisa Rana Property Investment, Property Maintenance, Property Management cleaning, commercial real estate tenants, exterior maintenance, restaurant, retail space 0 0 Comment
How Do Election Years Affect CRE? HOW DO ELECTION YEARS AFFECT CRE? August 28, 2024 | Property Investment, Commercial Real Estate News | real estate trends, business tips You may not have noticed, but this is actually an election year. That’s right! Currently, the two major parties are jockeying for political seats all across the United States at the local, state, and federal levels. All jokes aside, especially in our polarized political climate, it can often feel like the presence of an election year touches every industry and every aspect of our daily lives. For those who work in the real estate industry or anything tangential to commercial real estate, you’re certainly aware of the ominous reputation associated with election years. According to prevailing belief, election years wreak havoc on investments–projects can stall as uncertainty muddies the waters until the market finally comes up for air post-election. Though this is the prominent impression, do election years truly have such an outsize impact? Or is this another myth causing hesitation from quality opportunities? Let’s take a look! Political Factors that Impact CRE Commercial real estate is, of course, influenced by many policies from the local level all the way to the white house. From tax codes to zoning laws, policies can fluctuate from administration to administration, which certainly affects investment plans. Additionally, one candidate may focus on a particular issue and support corresponding incentives like with environmental building practices. Certainly, partisan politics can often mean that the party that gains office and majority control in congress will have the ability to steer new policies in their desired direction more easily, but sometimes trends that support CRE will occur regardless of election results. For example, infrastructure investment bills are often passed with bipartisan approval once the need is recognized. The most important point to highlight here is that, while elections do matter for the commercial real estate market due to the policies that are more likely to be passed into law down the road, these impacts don’t go into effect during the actual election year. So, why do elections have such a notorious reputation when it comes to affecting CRE? Impact of Election Years on the Real Estate Market The truth is that the CRE tension that arises during election years isn’t entirely our imagination. As the election date draws near, investors do tend to enter into a “wait-and-see” mindset period that spans a few months before and a few months after the presidential election. However, this time period is less influential than most people think. According to experts like those at JP Morgan, the impact of election years on the commercial real estate market is limited and temporary, with overarching economic conditions being far more consequential. Additionally, it’s important to remember the potential of gridlock as the result of any major election, leading to a sizable period of maintaining the status quo. All in all, commercial real estate investors and developers would generally be wise to take all market factors and trends into account and not rely too much on election year hesitancy. For more insights on CRE market trends, property maintenance, and all things inspection, you’re in the right place! Looking to schedule your next inspection at one or more of your properties? Speak with the NPI National Accounts team to get started. August 28, 2024 By Melisa Rana Commercial Real Estate News, Property Investment business tips, real estate trends 0 0 Comment
How Much Does a Commercial Property Inspection Cost? HOW MUCH DOES A COMMERCIAL PROPERTY INSPECTION COST? August 14, 2024 | Commercial Inspection, Property Maintenance, Property Investment | hotel, warehouse, apartment, multi-family property, commercial HVAC, commercial plumbing, commercial electrical Commercial properties require frequent inspections for many different reasons. From new acquisitions, to lease renewals, to recurring maintenance checks, commercial inspections are a standard part of every business’ annual expenses. From a property inspector’s perspective, these jobs are great due to the more professional, less emotionally charged approach in comparison to residential inspections. Plus, commercial properties offer an opportunity to examine bigger, more complex systems in pretty much every category. Investors and property owners may find themselves wondering just how the costs for commercial inspections are determined. Even if you’re newer to the commercial inspection process, you’ve likely seen firsthand that pricing is rarely just a flat rate and that it differs significantly from residential inspection costs. Just as commercial properties serve a wide variety of purposes and come in all shapes and sizes, commercial inspectors know that they have an equally wide variety of inspection needs. While this might make the cost of a commercial inspection tougher to predict in advance, a commercial inspector who factors in all of the unique qualities of the property in their proposal is more likely to deliver a product worth the cost! So, if you’d like more insight on how pricing is determined for a commercial property inspection, allow us to shed some light on the topic. The Type of Property The first factor that will heavily influence the cost of inspection is the type of property. One week a commercial inspector might be working through a warehouse, the next week they may have scheduled a hotel or apartment complex. Square footage may be the biggest factor in residential pricing, but it’s just one of many factors when determining commercial inspection pricing. Warehouses are relatively simple, empty shells. Hotels, on the other hand, have many isolated units, plus amenities like pools and gyms that take much more time per square foot to inspect. In addition, each commercial property’s size and type will determine the complexity and power required by its key systems. For example, commercial HVAC units can pack a remarkable punch, and some properties require a large number of isolated units. Read our recent article for more on keeping your HVAC system in good working order! For an inspector to write a proposal, they first need to determine the unique needs that the job will require. Depending on the expertise required, inspectors may partner with other subcontractors that specialize in some of the advanced systems present on the property, or they may enlist other inspectors in order to cover more ground more quickly. The size of the property, its unique needs, and the workload required are all factors that will certainly affect the final cost of the inspection. The Scope of Work Next, the inspector and client will have to agree upon the scope of work for the inspection. Residential inspections are fairly consistent, with most home inspectors following a common standard such as InterNACHI’s standards of practice. Commercial inspections, just like with the residential sphere, will always focus on the four cornerstones: structural integrity, roofing, mechanical systems (including plumbing, electrical, and HVAC), and water management. With that said, commercial standards are far less rigid in comparison to residential standards. When discussing the desired scope of work of the inspection, the inspector and client will need to agree on which standards are followed, and clarify the expectations of what they will inspect. For example, hotels or apartments have a large number of similar units, and it would require a considerable amount of time to thoroughly inspect all of them. Instead, inspectors and property owners will usually agree upon a number as a “representative sample.” Depending on the status of the lease and the ownership of the property, some clients may request that the roof isn’t inspected, for example, so the inspector can focus on another area. The time and complexity of the job are both definitely influenced by the scope of work, and they will also affect the inspection’s cost. The Inspector’s Pricing Model So, we’ve touched on a few of the components that will influence the price, but how does an inspector come up with their final bid and commercial inspection proposal? Well, after gathering the information they need, they will refer back to their preferred pricing model: 1. Square Footage Those familiar with home inspections might also be familiar with the square footage pricing model. With this method, home inspectors may list flat rates based on the square footage of the home with the option to add other ancillary services when requested or recommended. This method is not advisable for commercial inspectors due to the wide range of needs and amenities present from property to property. You may see inspectors use this from time to time when crafting a commercial proposal, but this is definitely one of the rarer techniques. 2. Unit Cost Those familiar with home inspections might also be familiar with the square footage pricing model. With this method, home inspectors may list flat rates based on the square footage of the home with the option to add other ancillary services when requested or recommended. This method is rarely used alone, however, as common areas, exterior features, and other amenities require their own attention. For the remainder of a commercial bid, experienced inspectors will rely heavily on the time and expense model. 3. Time and Expense The best commercial inspectors will have a solid understanding of commercial properties from all different sectors, their unique needs based on the established scope of work, and how long every step of the process will take. Based on this knowledge, inspectors will simply take the predicted total time expected for the inspection and apply their hourly rate. To be specific, this would include the hours devoted in the pre-inspection process to research the property and potentially contact any sub-contractors, the hours the inspector and their team spend on-site, and the hours needed to write and produce the final report. Clearly, there is quite a lot that goes into every step of a commercial inspection. Due to the variance between properties and variance in demand from conference to conference, it’s impossible to craft a rule of thumb for how much a commercial inspection will cost in the end. However, by keeping these factors in mind, investors and property owners can approach their next inspection with a bit more understanding. For more questions on how NPI can help you coordinate inspections for properties throughout the U.S. and Canada, speak with our National Accounts team today! You can also get started with your next commercial inspection right here. August 14, 2024 By Melisa Rana Commercial Inspection, Property Investment, Property Maintenance apartment, commercial electrical, commercial HVAC, commercial plumbing, hotel, multi-family property, warehouse 0 0 Comment
Zoning Laws and How to Work with Them ZONING LAWS AND HOW TO WORK WITH THEM July 31, 2024 | Property Investment, Commercial Real Estate News | real estate trends, safety, building renovation, commercial real estate tenants, muilt-family property, apartment Access to affordable housing has been an ongoing issue all across North America, and communities everywhere have been searching for their own solutions. In New York City, an attempt to address this problem has led to widespread debate and plenty of tension. That attempt? New zoning laws. To be a bit more specific, New York City has a regulation known as the Floor-Area-Ratio cap (or “FAR” cap) which restricts the maximum height of new residential construction within certain areas of the city, like the historic Hell’s Kitchen. We’ve previously discussed how developers have started to convert empty office buildings into apartments in order to add housing opportunities but NYC’s FAR cap might be limiting creative solutions like this. Spectators to this discussion may find themselves wondering if these zoning laws are such a hindrance, why were they put in place originally? And if some zoning laws are only a thorn in the sides of developers, investors, and the average renter, how have they lasted this long? Let’s discuss! What are Zoning Laws? Broadening the discussion for just a second, let’s dive into a few definitions and some background information on zoning laws. To simplify, zoning laws are the rules and restrictions that local governments create in order to organize the layout of its cities and protect the people that live there when it comes to new construction. These laws vary between municipalities, counties, cities, and sometimes even neighborhoods to serve the unique needs of their area. Through zoning laws, cities are separated into different districts (residential, commercial, industrial, etc.), ensuring that houses are far from any location that uses dangerous or noisy machinery (as just one example), that would be unpleasant for homeowners to deal with. While zoning laws are often looked at as helpful standards as cities grow, critics (like the proponents of lifting the FAR cap) say that they allow exclusionary practices. As we’ve previously discussed, NIMBY or “Not In My Backyard” is a term associated with wealthier communities that have used things like zoning laws to preserve their local amenities and keep affordable housing developments away. As a historic district, some are arguing that a version of this may be occurring in parts of Hell’s Kitchen, with those against lifting the FAR cap only wanting to preserve the iconic look of the area's mid-sized housing despite the cost of living that is forcing some locals to move out. “To protect, organize, and exclude”--these are some of the terms associated with zoning laws in the past. But are property owners stuck with whatever these guidelines dictate, whether good or bad? How Can Property Owners Work Within Their Zoning Laws? It remains to be seen whether the FAR cap will be lifted in New York City, creating more opportunities to build up, but also compromising some of the city’s more memorable neighborhoods. Some proponents of keeping the cap in place point out that there’s plenty of room for affordable housing in New York already, and they argue the law as it stands doesn’t actually stop office-to-residential conversions like some believe. Either way, zoning laws are designed to be worked with, and exceptions are made all the time as the need arises. For example, although zoning laws normally prohibit businesses from being run out of a residential zone, business owners can apply for a license or request an exemption with some negotiation and guideline adherence. In the same way, while homeowners may run into trouble if they start on a new addition before doing their homework, exceptions are often made for commercial developers without any need to repeal standing laws. Zoning laws are supposed to help cities grow and prosper, and they are designed to change if they need to! Developers who communicate their needs and are open to alternate solutions should have no problems achieving their goals. Read here for more on how developers are finding creative ways to meet demand. And for all of your commercial property inspection needs, stick with National Property Inspections. July 31, 2024 By Melisa Rana Commercial Real Estate News, Property Investment apartment, building renovation, commercial real estate tenants, multi-family property, real estate trends, safety 0 0 Comment
Building Community: How to Plan Events at Multifamily Properties BUILDING COMMUNITY: HOW TO PLAN EVENTS AT MULTIFAMILY PROPERTIES July 17, 2024 | Property Management | just for fun, commercial real estate tenants, , multi-family property People have been through a lot in recent years. Between how the pandemic limited social interactions and a general rise in nostalgia, researchers have noticed an unfortunate trend. According to Discovery ABA, a children’s therapy service provider, over 60% of adults in the US report feeling lonely, and for young adults this stat is even more shocking. With a whopping 79% of young people reporting feeling lonely, researchers are now calling Gen Z the loneliest generation. This can certainly sound dire, but there are those who also see this trend as a rising opportunity. People want to be more social, they want interaction with their neighbors, and people want a larger sense of community where they live. Since 45 million households are renters (from data collected by the National Multifamily Housing Council), property managers and multi-family property owners are in a prime position to meet the new need of this generation, and one solution managers are turning to is event planning. Not only does community event planning show that you as a property staff care about your tenants, a happier community leads to a higher retention rate and more tenant referrals (lower vacancies). If you’re interested in planning your first event on your property, or you’d like inspiration for your next occasion, here are a few thoughts to help you get started! Community Events for Families Though many multi-family properties end up with an eclectic tenant population, some property managers prefer targeting specific groups, gearing specific amenities to cultivate a particular community. In the same way that a playground can encourage more families to move into an apartment complex, property managers can gear their community events toward these groups. As an easy first event to try out, consider hosting a free movie night in a common area on your grounds. Whether you choose a comedy or a classic, family movies are easy crowd pleasers, and setting up a group showing is a fantastic way to show appreciation. In addition, you can consider elevating the experience a bit by offering free popcorn, candy, and refreshments. No matter what price range you allocate for a movie night, this community event is a low-stress way to bring your tenants together. Note: Make sure to re-watch any movies that you end up showing! Even highly-regarded classics may have a few scenes that aren’t as age-appropriate as you might recall. Other options for family-friendly community events include: Back-to-School “Carnivals” (or themed events during seasonal breaks) Scavenger Hunts (where you have the opportunity to highlight lesser-used amenities) Family-friendly community events can also be a good opportunity to open things up to friends and families. You never know - a simple movie night could be the perfect introduction to your property for a future tenant! Community Events for Young Professionals For properties that cater towards the “young professionals” category of renters, options for community events expand, although it may take some experimentation to see what sticks. One avenue to explore for a younger crowd is sporting events like the Super Bowl, March Madness, or any other big games that are relevant in your area. These sorts of watch parties are a great way to allow residents to come and go as their plans permit without placing much pressure on your staff to entertain. Although these veer away from single events a bit, encouraging your staff to run a March Madness bracket with an open invitation to residents is also a way to build interaction and can help promote engagement for future events. Again, experiment with different types of events to see what your community is interested in and run with whatever your tenants are most receptive to! A few more ideas to consider include: Host a Fitness Class (contact a local gym to see if they’re interested in some free marketing) Promote a Book Club Coordinate a CPR Course (younger people are constantly looking to learn more skills, and having more tenants with this skill set can only be beneficial) Community Events for Everyone Finally, while it can be useful to aim events at particular niches, there are a number of community event concepts that are bound to appeal to most people. To best accomplish this, it can be a good idea to look to your neighbors for help. Get to know your local businesses and coordinate a food truck day, or invite a local restaurant to cater another event. Especially if you manage a larger property, these local businesses will jump at the opportunity to get their food in front of your tenants. Similarly (if you run a pet-friendly property), consider hosting an “adopt-a-thon” by contacting a local animal shelter. The shelter will certainly appreciate it if the event leads to a few adoptions, and your tenants will enjoy interacting with any cats and dogs that come to visit. Needless to say, opportunities are endless to show appreciation to your tenants or to give back to the community that you're located in through hosting events. Just remember to start small and don’t be afraid to grow based on your tenants’ response level. You’ll have a vibrant multi-family community in no time! Keeping your tenants happy starts with a robust maintenance plan. For all your property inspection needs, stick with National Property Inspections! Contact our team today to schedule an inspection with your local NPI commercial property pro. July 17, 2024 By Melisa Rana Property Management commercial real estate tenants, just for fun, multi-family property 0 0 Comment
EIFS Stucco Systems: A Cause for Concern? EIFS STUCCO SYSTEMS: A CAUSE FOR CONCERN? July 3, 2024 | Commercial Inspection, Property Maintenance, Property Investment | exterior maintenance, save money, safety For every house, condominium, industrial complex, hotel, and convenience store, the number one source of concern is the same: water intrusion. Water has a terrible knack for worming its way indoors, finding or causing even the most miniscule cracks that grow and compromise a building's integrity. Though it may sound surprising, architects and engineers have spent countless hours over the years designing ways to keep water where it belongs and protect occupants from health hazards like mold. Of all the features of water management that buildings have, none face the same relentless assault as exterior siding. EIFS synthetic stucco is one type of siding that has become increasingly common for commercial properties, but property owners who have investigated this exterior wall system may have encountered some alarming stories. So, what's the deal? Should property owners with EIFS exterior walls be worried? Should investors looking to expand their portfolios steer clear of properties with EIFS? Let's discuss! What is EIFS Stucco? EIFS stands for Exterior Insulation and Finish System and refers to a type of exterior siding that gained prominence throughout North America after World War II. Similar to traditional stucco, EIFS is composed of multiple layers and offers similar aesthetic and textural options. However, EIFS is a more complex system. Typically starting with a water-resistant barrier, EIFS stucco commonly incorporates insulation board, fiberglass reinforcement, and a final, crack-resistant acrylic coat. The result is a wall system with a natural R-value of around 5, leading to improved energy efficiency and reduced heat loss compared to regular stucco. While every commercial property inspection should include identification of exterior wall materials, owners and managers unsure about whether they have EIFS can perform two simple tests. First, gently knock on the exterior wall. A hollow sound may indicate an EIFS drainage stucco system. Second, try leaning and pressing a hand against the exterior wall. Traditional stucco should be firm, while EIFS systems may yield slightly. Why was EIFS Stucco Controversial? EIFS synthetic stucco walls offer many benefits but require specialized expertise for proper installation. This is where some of the negative reputation of EIFS originated. Incorrectly installed EIFS exteriors can fail to function as intended, allowing water penetration. The more complex installation process of EIFS exteriors has led to issues, particularly around joints, transitions between materials, door frames, window sills, and other intersection points. These problems were frequently encountered in the residential sector, resulting in lawsuits and claims of defective siding since the 1990s. Common issues related to water intrusion, such as mold, pest infestation, premature wall degradation, bubbling, and cracking, have given EIFS a worse reputation than it deserves in some circles. Perhaps due to this reputation, its use in the residential market has declined. The Verdict: Should Property Owners be Concerned? Today, EIFS wall systems are commonly found in commercial buildings, and this should not be a cause for concern for property owners, managers, or investors as long as the systems are in good condition and were installed correctly. As with any exterior wall system, regular inspection and maintenance are crucial for preventing minor problems from escalating into major issues. EIFS exterior systems have improved over the years and, as always, success or failure is reliant on both product quality and installation quality. If you believe your commercial property has EIFS exterior walls and want to check on its condition, contact National Property Inspections for an unbiased examination. For all your commercial property inspection needs, call NPI before you buy! July 3, 2024 By Melisa Rana Commercial Inspection, Property Investment, Property Maintenance exterior maintenance, safety, save money 0 0 Comment
Zero-Energy Buildings: Designing for a More Sustainable Tomorrow ZERO-ENERGY BUILDINGS: DESIGNING FOR A MORE SUSTAINABLE TOMORROW June 19, 2024 | Property Maintenance, Property Investment, Commercial Real Estate News | real estate trends, save money, commerical HVAC, commercial electrical, building renovation On June 6, 2024, White House National Climate Advisor Ali Zaidi announced the new definition for “zero-energy buildings” at the American Institute of Architects conference. Although this announcement doesn’t carry new regulations for commercial or residential construction, it does outline a target for new buildings and may reveal which features we can expect to become the new standards in the cities of the future. To get a sneak peek on the impact of this announcement, let’s take a look at what zero-energy buildings are, and how they differ from what we see today. What is a Zero-Energy Building? Zero-energy buildings are, to put it simply, buildings that produce more or an equal amount of energy than they consume throughout the course of the year. According to the Department of Energy, residential and commercial buildings account for 74% of electricity usage in the U.S. With a generation increasingly concerned about their impact on the environment, organizations are committed to fast-tracking solutions for lowering usage and its impact. In the past, the road to true zero-energy was regarded as difficult and expensive, but the Department of Energy (DOE) and the Environmental Protection Agency (EPA) believe that it will become more practical due to emerging technologies. Zero-energy buildings will be able to rely on their renewable solar and wind energy generation systems to be self-sufficient when weather conditions allow, then pull from the electrical grid when conditions limit their production. It’s through these systems, the DOE and EPA envision, that communities will be able to work together to become more efficient, reduce greenhouse gas emissions, and increase the reliability of power. Ways to Improve Energy Efficiency When looking into their future goals to reduce building emissions by 65% by 2035 and 90% by 2050, the story isn’t only surrounding new constructions. By 2050 it’s predicted that 93% of residential buildings and 60% of commercial buildings that exist today will continue to be in use, meaning renovating and retrofitting will be key pieces to this energy-neutral future. With that said, here are some features that are likely to rise in popularity across the board, regardless of climate: Heat Pump Conversion ENERGY STAR and NFRC Windows Daylighting Designs Commercial buildings are not only becoming more energy efficient, but they are becoming more comfortable for its tenants every year thanks to new technologies and building techniques. If you’d like to learn more about how your commercial building might improve its energy efficiency, ask us about our energy audit solutions. And for all your commercial property inspection needs, always stick with National Property Inspections. June 19, 2024 By Melisa Rana Commercial Real Estate News, Property Investment, Property Maintenance building renovation, commercial electrical, commercial HVAC, real estate trends, save money 0 0 Comment