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Property management during COVID-19: Here’s what you need to know
Terri Williams Facilities & GroundsOwning and managing rental property has never been a walk in the park. However, the pandemic has created a high level on uncertainty regarding evictions, service requests, how to interact with tenants who have contracted COVID-19 and more. Aaron Marshall, co-founder and CEO of Keyrenter Property Management, addresses some of the most pressing issues for property managers.
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How design is aiming to bring hotel guests back
Michael J. Berens Interior Design, Furnishings & FixturesHospitality and travel arguably have been the sectors hardest hit by the coronavirus pandemic. Beset by fears of contagion, travel restrictions and mandated closures, hotels rushed to put strict health and safety protocols in place and revamp spaces to accommodate social distancing, hoping to revive custom, with only partial success. Now, as they look ahead to next year and the promise that the virus will be brought under control, hoteliers are exploring what more they can do to lure travelers back to their properties.
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Remodelers bullish as demand resurges
Michael J. Berens Construction & Building MaterialsRemodelers entered the final quarter of the year riding a wave of strong demand for home renovation projects. With no end to the coronavirus pandemic in sight, homeowners are continuing to upgrade and alter their living spaces to accommodate the changes to their lifestyles resulting from home confinement and the need to work and be schooled from home. Rising home values and low interest rates are helping to sustain the trend and carry it through to the end of the year.
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Interior designers foresee softer demand at year’s end
Michael J. Berens Interior Design, Furnishings & FixturesContinuing the upward trend that began toward the end of the second quarter, interior design activity rebounded to close to 2019 levels in the third quarter. Billings were up nearly twice what they had been in the spring, with demand for residential remodeling and design services leading the way. As the quarter came to a close, though, firms experienced a slowdown in new inquiries and committed projects, a signal that business may taper off slightly in the final months of the year.
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How construction can contribute to a recovering economy
Patrick Hogan Construction & Building MaterialsThe construction industry could be a means for the economy to recover after the outbreak of COVID-19, as history has shown that construction has been relied upon in the past to help improve the economy. The federal government has usually driven the upswing by increasing investments in building and infrastructure. Construction will also indirectly benefit local businesses when they supply food, shelter, raw materials, transport and other services to workers for the duration of the projects. To kick-start the economy and employment, sound principles and pledges are required.
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Key safety tips for real estate pros returning to the office during COVID-19
Sam Radbil Facilities & GroundsThe health of staff and clients is paramount for the real estate industry. Here are some key safety tips for real estate professionals who may be returning to the office. For example, though many real estate professionals, from attorneys to salespeople, determine their own schedules, it will be important to provide specific times that staff members can be in office to maintain social distancing and sanitizing schedules. Consider dividing the workforce into A and B groups.
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Untethered affluents fueling booming home sales
Michael J. Berens Construction & Building MaterialsBack in the spring when the housing market plummeted practically overnight, no one expected that homes would be flying off the shelf in September. Although the boom in home sales that began last May has slowed in recent months, demand still far exceeds supply, with the majority of homes last month selling in less than 30 days. For the most part, those homes are being bought by affluent homeowners who, no longer bound to their office commutes and urban lifestyles, are snapping up single-family suburban homes, vacation homes and luxury homes.
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Grab this opportunity to finance business growth
Lloyd Princeton Business Management, Services & Risk ManagementYou may have seen mentions in the business news of late to "free money." Perhaps you thought to yourself, "how do I get some of that?" In reality, of course, the money isn’t free. But interest rates are so low right now that, relatively speaking, by traditional lending standards it is practically "free," which is to say that the cost of borrowing is not much more than the cost of the principal. That makes this a great time to raise money to fund business expansion and new ventures.
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Improving senior care by mimicking natural light cycles with LED technology
Michael J. Berens Interior Design, Furnishings & FixturesNumerous studies have identified the need for better lighting conditions in senior care facilities. Residents often have too little exposure to natural light during the day and are subjected to leaks from artificial lighting during the night. This can lead to a range of health problems, from erratic sleep patterns to impaired cognition to listlessness and depression. Recent developments in LED technology may provide a solution by creating interior lighting conditions that change throughout the day and night, mimicking the natural light cycle to which the body is attuned.
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Better days ahead for remodelers
Michael J. Berens Construction & Building MaterialsThe homebound nature of American life since March has produced a boom in the home improvement industry, especially in product sales. For remodelers and designers, however, it has been a mixed blessing. While demand for professional services has rebounded in recent months from the historic lows in early spring, it has been dampened by the large number of homeowners choosing to undertake home improvement projects themselves. That trend is expected to change in the months ahead as homeowners shift their attention from smaller, simpler repairs to more substantial renovations requiring more expertise.
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