Neil Shekhter - Expect Multifamily Rent To Continue Rising
With Google And Facebook In Playa Vista, Expect Multifamily Rent To Continue Rising
With Google and Facebook expanding in the fall season, the Playa Vista region’s rental market will be overwhelmed with company employees searching for new homes. Fortunately, this will mean new additional, and incoming business for landlords and property owners, but bad for renters, and potential homeowners, according to Neil Shekhter.
Unfortunately, with California’s Los Angeles region suffering extreme housing shortages and home sales, renting will not be any better in the country. We can expect rent and housing in California to rise over time. But will the new Tech sector employees be affected by it? It can also be safe to say that the problem will get worse for renters.
The housing discussion event covered topics on growth, expansion and zoning areas. They also discussed community zoning programs currently in place for residents. Playa Vista has come a long way. The area is popular for its proximity to major technology giants such as Google.
The busy western region and its businesses are expanding, to bring in profits and people. It is claimed that the shift of talent is due to lack of unlimited supply of talent in the Silicon Valley, it is important to gain new talent and grow their business.
There will be a change to the office scene too. Builders of homes seek to renovate or create new spaces, they do not prefer sticking the routine traditions. The big component of the creative office concept is the lifestyle that comes with it, in order to attract talent to your company, to sell them on the space and the lifestyle.
For investments, space is just important as the company’s brand. In this case, the building is the brand that wants to be set apart from traditional to more unique applications, while the need for larger homes is increasing.
It is said that a building project can often take too long to complete. The most-expensive places to rent an apartment in the nation is the southern California region, where rent averages at $3,000 per month, explains Neil Shekhter, chief executive officer of NMS Properties.
According to an investment company, there are claims that single-family homes for multi-member families are up for grabs in Santa Monica. Jobs are the driver for these multifamily homes, and the more growth in jobs will lead to more pressure on housing in Silicone Beach. With expensive numbers in mind, there is no easy solution to the issue. One solution that is proposed is to share living spaces.
NMS has offered quality rentals in the Los Angeles area for nearly three decades. Since 1988, NMS has developed and managed a large portfolio of premier apartment buildings and commercial properties in Santa Monica, West Los Angeles, Brentwood and the San Fernando Valley