www.REBusinessOnline.com September 2021 • Volume 17, Issue 7 MULTIFAMILY MANAGERS STEP UP THEIR GAME By Jordan Cooper of Xero During times of economic uncertainty and in markets in which renters have ample options, competent operators can infl uence new leasing and renewal rates. t’s diffi cult to guess anything about help — creates the least work for own-I With the supply of multifamily communities growing in many major markets, renters have more options and are demanding more from the landlords and third-party fi rms that manage their communities. As such, the ability to track and monitor all facets of the business through user-friendly digital platforms is very important in the current market. the housing and rental property markets of tomorrow given the con-ditions of today. Month after month of fl uctuating prices, demand and avail-ability have made renting a delicate dance for landlords and tenants alike. A recent IBISWorld report also point-ed to an expected decrease in revenue for the larger apartment rental industry through 2021, but it’s not time to hit the panic button just yet. There are, in fact, a multitude of ways by which landlords and property man-agers can make their businesses steadi-er, more profi table and more benefi cial to tenants — as well as to themselves. The fi rst option — hiring outside ers, though it may not be the right ad-dition to every landlord’s toolkit. In an industry with occasionally fi ckle fi nan-cial situations, landlords can lean on the assistance of accountant or bookkeepers or seek counsel from fi nancial advisors. Unless an owner already has the bookkeeping know-how, he or she may be missing out on tax savings and see-ing suboptimal returns on investments. A qualifi ed accountant can step in to keep the owner abreast of any and all tax savings while helping the invest-ment portfolio grow with minimal risk. The costs associated with professional help may be a deterrent for smaller-scale property management businesses SEE MANAGEMENT page 21 HOTEL BUYERS ADJUST STRATEGIES TO FIND VALUE Select assets can present attractive investment opportunities, but capital sources must assess broader market conditions, such as reliance on domestic airborne travel. sset selection in the hospitality investment market will be critical through the remainder of 2021, as particular hotels in select locations could thrive from new sources of growth and revenue, while others may sit on the wrong side of shifting demand. But investors shouldn’t completely write off the sector. Instead, they should keep their eyes wide open about specifi c opportunities with solid information that could support a potential increase in valuation. A By David Vincent of Cadre Americans are now taking to the skies and highways in large numbers. A need to return to normalcy is driving increased demand for travel, boosted by the promise — and delivery — of vaccinations and then-falling infec-tion rates. Confi dence appeared to peak in the early summer, as major airlines an-nounced profi table quarters and plans to hire and purchase planes more ag-gressively, according to reports by The New York Times . In July, the up-tick in travel and lodging brought the national hotel occupancy rate to 71.4 percent — the highest level since summer 2019, according to data from SEE HOTELS page 22 Travel on the Rise Stretching their wings after ex-tended COVID-19-related isolation, SRH Hospitality and SkyWalker Property Partners are developing the 182-room AC Hotels by Marriott property in Waco. Hotels in markets like this one, which aren’t overly reliant on air travel to source visitors, can present good investment opportunities. INSIDE THIS ISSUE Hirings, Promotions and Other Personnel News From Across the State page 7 Texas Real Estate Business ’ Annual Economic Development Directory pages 14-20