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	<title>COVID-19 &#8211; HOA ALLIANCE</title>
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	<title>COVID-19 &#8211; HOA ALLIANCE</title>
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		<title>Apartment Demand Declines As Young Adults Return Home From The Pandemic</title>
		<link>https://www.hoaalliance.org/apartment-demand-declines-as-young-adults-return-home-from-the-pandemic/</link>
					<comments>https://www.hoaalliance.org/apartment-demand-declines-as-young-adults-return-home-from-the-pandemic/#respond</comments>
		
		<dc:creator><![CDATA[HOA Alliance]]></dc:creator>
		<pubDate>Sun, 20 Dec 2020 22:49:00 +0000</pubDate>
				<category><![CDATA[Boards & Associations]]></category>
		<category><![CDATA[US News]]></category>
		<category><![CDATA[Apartments]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[Housing Demand]]></category>
		<guid isPermaLink="false">https://www.hoaalliance.org/?p=11439</guid>

					<description><![CDATA[The pandemic has driven gen-Z and millennials back home to live with parents or relatives — a trend that will negatively impact apartment demand, according to a new report from Marcus &#38; Millichap. Unemployment has been the biggest driver of young adults moving home, but college closures have also had an impact. In April and May, there was an increase in young adults age 18 to 34 moving home, and by June, 27.7 million young adults had moved home, according to Marcus &#38; Millichap. The good news is that June was the peak; the bad news is that the number hasn’t declined much. In September, there were still 25 million young adults living at home. This is well above the prior four-year average, and it will likely continue to be a trend as long as unemployment remains high. In October, unemployment claims have continued to grow, supporting an outlook for young adults removing themselves from the apartment market. College closures have added an interesting element to this dynamic. The future of in-person learning is uncertain and so far has been volatile, with schools opening for in-person education and then rolling back when outbreaks happen. Plus, the surge in cases could derail re-opening plans for spring. Distance education has impacted student housing and apartments in or near college towns, and the return to those markets is largely unknown. For non-college young adults, the return home has mostly impacted downtown and urban core markets. These markets had large populations of millennials, and in many ways have been built around their demands, with retail and entertainment amenities, mixed-use apartment properties and walkability. Nationally, the vacancy rate in core markets has increased 170 basis points to 5.8%. Marcus &#38; Millichap notes that this is the highest vacancy rate in a core market since 2000. Some markets are trending worse than the national average. San Francisco had a 600 basis point increase in vacancy, and Orlando saw more than a 300 basis point increase in vacancy. As a result, Marcus &#38; Millichap expects these markets to have a higher increase in apartment concessions as a result, ultimately impacting rental rates. Investment capital, however, does not view this as a long-term trend. Actually, it is anticipating a wave of move-outs once the economy and employment opportunities recover. This event will have the reverse effect, fueling apartment demand. Investors are already making plans for this event, focusing capital allocation in cities already seeing economic recovery and with below market rents, like Midwest and Florida, which could appeal to young renters. In addition, investors operating in major metros could see an increase in opportunities, particularly for recently completed assets that are struggling to lease up. Marcus &#38; Millichap reports that some investors may strike quickly to take advantage of pricing uncertainty. Originally Posted On Globe St. Kelsi Maree Borland Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine.&#160;As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in&#160;Angeleno,&#160;Los Angeles Magazine,&#160;Travel and Leisure&#160;and more. More from this author&#160;]]></description>
		
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		<title>Will Roommates Make A Comeback In The Wake Of The Pandemic?</title>
		<link>https://www.hoaalliance.org/will-roommates-make-a-comeback-in-the-wake-of-the-pandemic/</link>
					<comments>https://www.hoaalliance.org/will-roommates-make-a-comeback-in-the-wake-of-the-pandemic/#respond</comments>
		
		<dc:creator><![CDATA[HOA Alliance]]></dc:creator>
		<pubDate>Sun, 20 Dec 2020 18:47:00 +0000</pubDate>
				<category><![CDATA[Boards & Associations]]></category>
		<category><![CDATA[Condos]]></category>
		<category><![CDATA[US News]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[Renters]]></category>
		<category><![CDATA[Roommates]]></category>
		<guid isPermaLink="false">https://www.hoaalliance.org/?p=11258</guid>

					<description><![CDATA[Many renters get a roommate more out of necessity than the desire for at-home company. In some cities, like Manhattan and San Francisco, living alone is prohibitively expensive (the latter&#8217;s average monthly rent is a whopping $3,629, and the average apartment size is 747 square feet). In cities like these, getting a roommate means not having to cram into a depressing studio apartment the size of a shoebox. But thanks to the coronavirus pandemic, renters&#8217; attitudes on roommates could change in a meaningful way. And income property owners should try to capitalize on that. Will more renters want roommates post-pandemic?Living alone is often touted as a good thing &#8212; but that was before the pandemic started. For the past seven months, people who live alone have experienced extreme isolation, especially in light of the number of companies that have shifted to fully remote work and have no plans to bring staff back to office buildings anytime soon. As such, once the pandemic is over and the concept of sharing a living space with someone else becomes safer, we may see an uptick in renters who actively seek out a roommate situation &#8212; not due to a financial need per se, but for the company. This could present a prime opportunity for real estate investors with income properties, as those with larger homes could consider renting out their properties by the room. Doing so can be beneficial for a number of reasons. First, more tenants means less vacancy risk. If a single tenant moves out but two rooms remain occupied, that sudden loss of income will be lessened. Also, landlords can often get away with charging more by the room than by the unit, which means this potential roommate trend could lend to an uptick in revenue. Income property owners may also want to think about strategically designing their living spaces to encourage roommate living. That could mean opening up common areas or even offering up furnished homes with nice setups in these areas to entice renters to live together. Will some renters shun roommates post-pandemic?Of course, just as some renters may be itching for company thanks to the pandemic, for others, the opposite may be true &#8212; they&#8217;re tired of being stuck at home with a roommate and want nothing more than to live on their own once that becomes feasible. But the people most likely to feel this way may be those in small apartments in cities. For these renters, cost is more likely to be a barrier to ditching the roommate setup. The bottom lineAs such, there&#8217;s a good chance roommate living will reign supreme once the pandemic wraps up. Income property owners should therefore make every effort to benefit from this trend &#8212; especially those struggling for revenue at present. Many landlords have seen their own income take a hit during the pandemic, so any opportunity to boost it should be jumped on.]]></description>
		
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			</item>
		<item>
		<title>Apartment Owners Are Suing WeHo, L.A. County &#038; The State Of California Over Eviction Moratorium</title>
		<link>https://www.hoaalliance.org/apartment-owners-are-suing-weho-l-a-county-the-state-of-california-over-eviction-moratorium/</link>
					<comments>https://www.hoaalliance.org/apartment-owners-are-suing-weho-l-a-county-the-state-of-california-over-eviction-moratorium/#respond</comments>
		
		<dc:creator><![CDATA[HOA Alliance]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 13:59:02 +0000</pubDate>
				<category><![CDATA[California HOA]]></category>
		<category><![CDATA[Homeowners]]></category>
		<category><![CDATA[US News]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[Property Management]]></category>
		<guid isPermaLink="false">https://www.hoaalliance.org/?p=1799</guid>

					<description><![CDATA[The City of West Hollywood is one of eight cities being sued by a group of apartment owners and lessors who allege they have been forced through tenant eviction protection ordinances enacted during the coronavirus pandemic to shoulder financial burdens that should be borne by the public at large. The plaintiffs also are suing the State of California and Los Angeles County. View Original Article From News Break]]></description>
		
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			</item>
		<item>
		<title>See A Landlord’s Perspective On State &#038; Federal Eviction Bans And how Renters Might Be Taking Advantage!</title>
		<link>https://www.hoaalliance.org/see-a-landlords-perspective-on-state-federal-eviction-bans-and-how-renters-might-be-taking-advantage/</link>
					<comments>https://www.hoaalliance.org/see-a-landlords-perspective-on-state-federal-eviction-bans-and-how-renters-might-be-taking-advantage/#respond</comments>
		
		<dc:creator><![CDATA[HOA Alliance]]></dc:creator>
		<pubDate>Thu, 08 Oct 2020 13:51:55 +0000</pubDate>
				<category><![CDATA[HOA Alliance Chapters]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[Property Management]]></category>
		<guid isPermaLink="false">https://www.hoaalliance.org/?p=1788</guid>

					<description><![CDATA[The word “landlord” typically houses a negative connotation, particularly now as millions of financially strapped renters struggle to remain sheltered. However, I’ve been hearing from landlords who claim that tenants have been taking advantage of state and federal eviction bans while neglecting or trashing their rental unit. “My business partner and I are not able to evict our tenant who is destroying our house and who hasn’t paid rent in two months,” said Lavon Pryor, of Gary, who owns a house in the Glen Park section of the city. “The tenant has a full-time job and was not affected by the pandemic.” Original Article From The Chicago Tribune]]></description>
		
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			</item>
		<item>
		<title>COVID-19: Insurance Emerges as a Major Issue as Condos/HOAs Evaluate Facilities</title>
		<link>https://www.hoaalliance.org/covid-19-insurance-emerges-as-a-major-issue-as-condos-hoas-evaluate-facilities/</link>
					<comments>https://www.hoaalliance.org/covid-19-insurance-emerges-as-a-major-issue-as-condos-hoas-evaluate-facilities/#respond</comments>
		
		<dc:creator><![CDATA[HOA Alliance]]></dc:creator>
		<pubDate>Sun, 13 Sep 2020 23:14:25 +0000</pubDate>
				<category><![CDATA[Boards & Associations]]></category>
		<category><![CDATA[US News]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[HOA Alliance]]></category>
		<guid isPermaLink="false">https://www.hoaalliance.org/?p=505</guid>

					<description><![CDATA[In this week&#8217;s tip, we check in with our experts to find out whether condo/HOA are opening or closing amenities now that headlines have been that the United States keeps setting new records with new COVID-19 cases. As you read their reports, you&#8217;ll find a common thread&#8211;insurance challenges have become major factors in the decisions&#8230; Read More &#124; HOAleader.com &#8211; Practical Advice on Homeowner Association Management]]></description>
		
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