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In the past few years, the rapidly escalating cost of housing in major cities around the country has resulted in a sharp rise in real estate agent commissions. In San Francisco, California, for instance, the number of properties for sale has risen nearly 25% in the past year alone. This increase has resulted in a dilemma for informed homebuyers-how do they find a reasonably priced property that provides all the amenities they are looking for?

The solution is simple-find a broker and take advantage of this new boom in public housing developments that are being built by local authorities, non-profit groups, and developers. Origin housing found that in most cities, long-term deductions, vacant buildings, or vacant suites, caused up to $10k annually in lost rental income. Often times, they would not know when a unit was actually empty or not occupied, simply because most tenants would exit suddenly, without making rental payments. This often leads to vacancy rates which are much higher than the current market rate. This issue could be solved by forming a partnership with a private, affordable housing developer who is licensed to manage, preserve, and rehabilitate public housing developments. The resulting company would have many apartment buildings on the market at bargain prices, many of which could be occupied, and several of which might be generating rentals.

This arrangement would solve two problems at once, reducing housing prices while attracting new renters. One of the major issues facing today’s buyers is housing discrimination due to nationality, race, or residency status. In many cases, potential buyers are turned away from units that meet their criteria, simply because the housing provider’s contract doesn’t meet their income or credit requirements.

The second problem faced by many prospective renters is the occurrence of an insufficient housing program in several cities across the United States. Many cities have what’s known as a mixed-use zoning code. Under this sort of code, home can be built anywhere within the bounds of the city, except in certain”special purpose” zones. While developers may be able to bypass these strict regulations in other cities, they are often unsuccessful in doing so in major urban growth areas like New York City, San Francisco, and Chicago. A mixed-use housing program provides much more flexibility for builders to work with their resources and should therefore be explored if money is not a limitation.

Historically, affordable housing programs are less prevalent in the suburbs than in major urban development areas. However, that is starting to change. Developers are starting to use what are known as”micro-loans” to make markets where people can purchase real estate without needing to come up with hundreds of thousands of dollars upfront. These”micro-loans” are a great way for urban development agencies to provide affordable housing in low-income areas, without the high prices and regulations that come together with large-scale development projects.

In addition to helping to create affordable housing through micro-loans and other innovative financing methods, developers should also look to renovate, update, and otherwise repair existing apartments and industrial properties to increase their market value. This can frequently be accomplished simply by adding new flooring, installing new windows, doors, lighting, and other modern-day capabilities. Public housing should be remodeled and updated to meet the requirements of an ever-changing demographic. By way of example, elderly and disabled people will need larger living spaces to encourage them to stay in their homes rather than move into overcrowded rental units. Public housing ought to be redesigned to add safety features, like properly lit stairways, designated entryways, elevators, and other amenities for elderly people and disabled people.

Developers should also look to develop properties within existing development sites for enhanced overall layout and functionality. Among the most common mistakes is to find housing developments too near each other. This creates unneeded traffic jams, increases the chance of accidents, and can make it difficult for tenants to find apartments. Developments that are too far from areas or other destinations can also negatively affect property values. Concerning design, an ideal housing development would be mixed-use and feature amenities that could appeal to a variety of residents. It should also give easy access to key destinations without producing parking issues or overly congested streets.

Creating an attractive, accessible, and affordable housing program is key to creating a more welcoming environment for people who wish to move to a new building. No matter which type of housing developments one chooses, there’s always room to improve on the basics. As developers strive to make more welcoming environments, it is very likely that many of these developments will get long-time clients of the same service or programmer for which they’re being developed. Those agencies may even opt to buy or rehabilitation affordable housing units for their own development projects. By making affordable housing developments appealing, developers can also work to make sure that their projects will have the ability to draw buyers who need the services and quality of life that come with a quality rental flat.