With millions of New Jersey residents ordered to stay at home, apartment owners and managers are set to play a critical role in the effort to curb the spread of COVID-19. They’re also bracing for a major impact from a teetering economy and the prospect of some residents being unable to pay rent, which looms large against the backdrop of paying their own employees, mortgages and property taxes. That’s not to mention the need to respond to tenant emergencies and disruptions to the supply chain, which have impacted everything from cleaning supplies to appliances
An ownership and management team is hailing the turnaround of a 344-unit apartment complex in Ocean County, spurring improved retention and an increase in rental rates as part of an effort that has garnered acclaim from the industry’s top trade association.
The New Jersey Apartment Association has recognized dozens of member owners, managers and other professionals as part of its 26th annual Garden State Awards of Excellence gala.
Among the many issues facing our nation, the availability of affordable housing, or lack thereof, is a problem that lawmakers have been trying to address for decades. Federal programs that either support the development of affordable housing or provide assistance to renters through vouchers have been woefully underfunded, and state and local elected officials are looking for solutions. Unfortunately, some have turned to rent control as an answer. But the reality is that rent control will not only fail to solve our affordable housing crisis, it will actually make it worse.
Last week’s “bomb cyclone” Nor’easter was no match for an annual event hosted by the New Jersey Apartment Association, which drew some three dozen lawmakers and more than 150 attendees despite torrential rain and bruising winds.
The New Jersey Apartment Association has made a new addition to its influential government affairs team.
Vantage Real Estate Services has hired a 35-year commercial real estate industry veteran as its new director of investment sales.
With six months to go as president of the New Jersey Apartment Association, industry veteran Steve Waters says he will continue his focus on both education and government affairs — supporting a membership that comprises more than 210,000 units statewide.
Newark’s dedicated blue-chip employers and anchor institutions have virtually all expanded or made commitments to grow, leading to billions of dollars’ worth of new commercial development. It’s a major reason why developers believe the time is right to, once and for all, bring new market-rate apartments to Newark’s central business district.
The state’s booming multifamily sector has been on display in recent weeks as developers and property managers celebrate their newest awards from the New Jersey Apartment Association.