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How to Increase NOI by Meeting Your Residents’ Broadband Needs

The internet plays a critical role in our lives. It has evolved from a luxury to a necessity, revolutionizing the way we work, play and communicate. With so many things we value being connected to the internet, it’s no surprise that it has had an enormous impact on the world of commercial real estate. High-speed internet is the second most important amenity to renters when choosing a new apartment (with air conditioning being the first). According to a recent National Multifamily Housing Council report, 93% of renters want high-speed internet access and 63% say they’d refuse to rent an apartment without it.

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Travis Watson
INCREASING LABOR COSTS SQUEEZING MULTIFAMILY DEVELOPMENT PIPELINE

A tightening labor market has forced developers of apartment properties across the country to push back or slow down the delivery of new supply. According to the Bureau of Labor and Statistics, unemployment in the construction sector declined from 4.1% in September to 3.6% in October. Construction unemployment was 4.5% at this point last year. Unemployment had tightened to 3.4% during the peak summer months of July and August but it remains at an almost historically low level.

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Travis Watson