Profimex Market Review Update – September 15, 2020
Landlords And Tenants Can Agree On One Thing: The Multifamily Industry Needs Rental Assistance
Without an agreed upon stimulus package from the US government, millions of renters in the US may be unable to pay for their rent due to the COVID 19 crisis.“The conditions on the ground will only add pressure for the government to provide relief,” National Multifamily Housing Council Vice President of Government Affairs Kevin Donnelly told Bisnow Friday. “Without [Congress] reaching a deal, renters and property owners are left holding the bag, which threatens the finances of the whole housing system. And that’s a scenario we can’t accept.” Both property owners and tenants agree that direct rental assistance is needed as the market comes to understand the long-term effects of the pandemic. That being said, without financial aid for apartment owners could create a “shockwave” in the industry.
In the Office of the Future Remote Work Will Be Complementary
A new report made by JLL explains why a permanent remote work model is not likely to be the future work. Rather, we will likely transition into a hybrid model both in-office and remote work. These two different models of work can be complimentary. The report outlines four key strategies that companies should employ to in order to navigate the workplace today: no one-size-fits-all; hybrid model and choice; elastic workplace but single community; responsible enterprise. In the end, working in a physical office is critical for firm’s culture. In the report JLL explains that 44% of employees miss socializing with co-workers and human interactions, 31% missed the professional environment and 29% of respondents missed the collective face-to-face work.