Bluestone & Hockley | Portland Property Management https://www.bluestonehockley.com Portland Property Management Tue, 02 Jun 2020 17:41:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.1 Working from home or the office. What does the future bring for office tenants? https://www.bluestonehockley.com/working-from-home-or-the-office-what-does-the-future-bring-for-office-tenants/ https://www.bluestonehockley.com/working-from-home-or-the-office-what-does-the-future-bring-for-office-tenants/#respond Fri, 29 May 2020 19:01:32 +0000 https://www.bluestonehockley.com/?p=27598 By: Clifford A. Hockley President Bluestone and Hockley Real Estate Services As an owner of a company with between 80 and 100 employees, we have been pondering if we should be going back to work at the office. We never stopped working even when we made the decision to leave the office to protect our... Read more ›

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By: Clifford A. Hockley
President Bluestone and Hockley Real Estate Services

As an owner of a company with between 80 and 100 employees, we have been pondering if we should be going back to work at the office. We never stopped working even when we made the decision to leave the office to protect our employees from COVID -19.

Technology has advanced considerably to enable employees to work from remote locations. Many already work from cars, at Starbucks, or on the dining room table at home.

Our experience reflects that we are able to work successfully, in small group meetings using our Ring Central (Zoom) VOIP infrastructure. But larger meetings over 10 people, tend to become unwieldy and the technology often becomes unstable, leading to poor visual results and connections that are slow and sometimes garbled. Some of that can be attributed to the number of people working remotely, some to unstable WI-FI networks, and some to the cabling that runs through and to everyone’s home.

In the next few months, we will be testing many options, that include social distancing for our staff at the office, as well as rotational attendance, giving our departments the opportunity to continue experimenting with options of working together, both remotely and in our office.

We hope to enable the members of our departments to work at home an average of two to three days a week, allowing them to reduce their daily stress, by reducing their commute and potential exposure. We acknowledge that it is likely employees may be able to control their time better, by embracing remote video and telephone technology, because they can set appointments for most of their business interactions. In other words, they may not get interrupted as often, by having a workmate pop in for a visit.

Unfortunately, it seems that key opportunities for group synthesis, learning moments and social engagement go missing when you work in an exclusively remote (distributed) environment. It may be harder to train and supervise staff and to interact as a team. To deal with these challenges we are actively looking at new operating and communication methods. Random interactions that usually occur in an office environment are very difficult to duplicate online without closer interaction in person. Visual and verbal cues that may occur in the office are often missed in a totally distributed work environment.

What is clear is that this new post-pandemic world order will enable owners and employees of businesses that are office-centric, to create an updated work environment, by blending both in and out of office experiences. In the near term, we have done an excellent job taking care of our clients and found a new work/life balance to keep our employees safe and happy.

Adjusting to this new remote work environment will take some getting used too.

But until we can ensure total workplace safety for our employees, social distancing, handwashing, masks, implementation of new meeting standards, and remote communications, will be the methods we will use to protect our staff.

Finally, many of our staff may start traveling, to take advantage of those hard-earned vacations.  We want them to be able to work upon their return, but they will need to quarantine themselves before they can come back to the office, especially of they have visited a hot spot state or city. Remote work access gives them the opportunity to continue working upon their return, and not infect their co-workers.

In the future, there may be more pandemics. Learning to work both in the office and remotely gives employers maximum flexibility. In the long run, the jury is still out how successful this work integration will work out, but early signals point to happy clients, and employees. In the near-term, office employers will continue to keep the office space they have. It is not at all clear, how long that will continue, or how employers will adjust their working environment.

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Guide to Reopening Business Amid Covid-19: Landlords

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Guide to Reopening Business Amid Covid-19: Landlords https://www.bluestonehockley.com/guide-to-reopening-business-amid-covid-19-landlords/ https://www.bluestonehockley.com/guide-to-reopening-business-amid-covid-19-landlords/#respond Fri, 22 May 2020 19:16:18 +0000 https://www.bluestonehockley.com/?p=27590 When it’s time to return to the office and reopen business there are multiple things to consider. You are responsible for the safety and well-being of your staff, tenants, and visitors to your property. While your exact strategy will depend on your home state and business type, you can use this guide as a starting... Read more ›

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When it’s time to return to the office and reopen business there are multiple things to consider. You are responsible for the safety and well-being of your staff, tenants, and visitors to your property.

While your exact strategy will depend on your home state and business type, you can use this guide as a starting point to help you plan and prepare for the “new normal.”

Property Owners: Things to consider when tenants return

Stay up to date on regulations
  • Regulations will vary based on your state, county, city, town, and industry. Please make sure you have a system in place to stay up to date on the latest developments.
  • Consider assigning a staff member to monitor updates.
Adjust building access hours as necessary
  • With increased cleaning requirements, you might need to limit public and even tenant access to the building.
  • This may mean implementing stricter work hours and no after-hours or weekend access.
Train your staff to prioritize
  • Handwashing
  • Social distancing
  • Facial coverings
Consider screening and testing measures
  • Temperature checks
  • Symptom checks
  • Virus and/or antibody testing
Create a communications plan
  • For stakeholders in the property
  • For tenants (leaseholders)
  • For employees of tenants
  • For visitors
Your communications plan should include:
  • When the property is opening including dates and restricted hours
  • What precautions you are taking
  • How to contact you with any questions
  • How updates will be communicated

When Tenants Return

Post Signs
  • Common areas
  • Entrances and exits
  • Restrooms
Recommend
  • Handwashing
  • Social distancing
  • Facial coverings especially in common areas
Clean and Disinfect
  • Common areas
  • Entrances and exits
  • Door handles
  • Elevator buttons
  • Handrails
  • Provide disinfectant wipes, hand sanitizer, and facial covering options
Monitor ingress and egress
  • Visitors
  • Contractor access
  • Will you need to make traffic flow adjustments in common areas
Consider and/or enact new protocols as needed
  • Common areas
  • Elevators
  • Entrances and exits
  • Restrooms
  • Deliveries
  • Food services
  • Tenant amenities
  • Curbside pickup if relevant

Different asset classes will have slightly different requirements, please feel free to contact SVN Bluestone & Hockley Advisors for further assistance. Below are additional resources for businesses as the country reopens.

Source: SVN Corporate

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Guide to Reopening Business Amid Covid-19: Tenants

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Guide to Reopening Business Amid Covid-19: Tenants https://www.bluestonehockley.com/guide-to-reopening-business-amid-covid-19-tenants/ https://www.bluestonehockley.com/guide-to-reopening-business-amid-covid-19-tenants/#respond Fri, 22 May 2020 19:04:11 +0000 https://www.bluestonehockley.com/?p=27587 In this guide, we’ll walk you through the steps your business will need to take to reopen as restrictions are lifted across the country. While your exact reopening strategy will depend on your home state and business type, you can use this guide as a starting point to help you plan and prepare for the... Read more ›

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In this guide, we’ll walk you through the steps your business will need to take to reopen as restrictions are lifted across the country. While your exact reopening strategy will depend on your home state and business type, you can use this guide as a starting point to help you plan and prepare for the “new normal.”

Tenants: Things to consider when tenants return

Communicate with your landlord so you understand
  • When the building is open (day/hours)
  • Adjustments to building occupancy requirement
  • What they are requiring/implementing regarding health and safety protocols
  • Adjustments to common areas and your leased space
  • Any enhanced cleaning and disinfecting tasks including those for which you would be responsible
  • How you will get updates on any changes to protocols
  • Visitors, building service, and delivery limitations
  • How they are complying with local and state Covid19 regulation
Consider a phased-in return to comply with social distancing
  • Time: Hours/Days/Weeks
  • Department
  • Functionality
  • Preference of employees
Work with your legal advisor regarding
  • High-risk employees
  • Testing options
  • Notification protocols
  • When you can send someone home
Procure and deploy health and safety supplies for employees, visitors, and deliveries
  • Hand sanitizer
  • Disinfecting wipes
  • Facial coverings
Within your space
  • Post signs in high traffic areas regarding safety reminders and occupancy limits
  • Reconfigure work environments to accommodate social distancing and better ventilation.
  • Conference rooms (limit or use for storage)
  • Separate/Assigned workstations
  • Reception areas
Communicate with your employees
  • Any and all new property protocols
  • Your phased-in plan for return
  • Any testing/screening plans by either you or the property owner
  • New cleaning standards
  • What to do and who to contact with questions
  • Appoint a team member to monitor local and state Covid19 regulations
  • Implement a clean desk policy to facilitate more thorough cleaning and disinfecting

Different asset classes will have slightly different requirements, please feel free to contact SVN Bluestone & Hockley Advisors for further assistance. Below are additional resources for businesses as the country reopens.

Source: SVN Corporate

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Guide to Reopening Business Amid Covid-19: Landlords

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Property Crimes to Carry Heavier Penalty During State of Emergency https://www.bluestonehockley.com/property-crimes-to-carry-heavier-penalty-during-state-of-emergency/ https://www.bluestonehockley.com/property-crimes-to-carry-heavier-penalty-during-state-of-emergency/#respond Tue, 12 May 2020 19:12:39 +0000 https://www.bluestonehockley.com/?p=27575 Washington County Announced Property Crimes will be a Felony A newly-formed coalition in Washington County announced certain property crimes will be classified as felonies during the coronavirus pandemic. The county’s District Attorney’s Office released a statement Monday noting that Oregon law (ORS 164.055) allows for various misdemeanor thefts that occur during a state of emergency... Read more ›

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Washington County Announced Property Crimes will be a Felony

A newly-formed coalition in Washington County announced certain property crimes will be classified as felonies during the coronavirus pandemic.

The county’s District Attorney’s Office released a statement Monday noting that Oregon law (ORS 164.055) allows for various misdemeanor thefts that occur during a state of emergency to be charged at the felony level, regardless of the property value.

The City of Tigard has seen a 60% increase in commercial burglaries in April compared to this time last year, according to law enforcement officials. Businesses shut down under the pandemic, as well as others that have remained open, are targets. In some instances, people have even pushed full shopping carts out the door without paying.

“These criminals are knowing that some of the loss prevention officers may be less inclined to be near people because of COVID, or more distracted because the stores are even busier and being more brazen in what they’re doing,” said Washington County District Attorney Kevin Barton.

Tigard Police said it is focusing on theft rings operating in the region as an increasing number of commercial businesses have reported theft.

“Big box stores and small retailers have reported increases in shoplifting crime,” said Barton. “We have examples of shoplifters who have told police, ‘You can’t arrest me because of COIVID.’ So we know very well that there are situations where people are committing crimes thinking they can get away with it because of COIVID and that’s not the case.”

Along with Tigard Police and the businesses community, the DA’s office outlined examples of cases where felony charges may occur:

  1. The theft directly relates to the COVID-19 emergency (such as theft of face masks or PPE);
  2. The defendant’s actions demonstrate that he/she is taking advantage of the COVID-19 emergency in order to commit the theft (such as a theft of a closed business or otherwise taking advantage of the emergency for personal gain); or,
  3. The theft was committed by a person who has committed multiple property crimes during the pandemic and otherwise meets the $100 threshold for theft in the second degree.

“Burglaries in our community, particularly those targeting commercial businesses, were up 60% in April compared to April of 2019,” said Tigard Police Chief Kathy McAlpine. “We are also seeing a marked increase in the number of stolen vehicle reports throughout Tigard.”

The Tigard Police Department’s Commercial Crime Unit said it has since increased patrols and its outreach to businesses to respond to increases in crime.

Source: KOIN News

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Available Rentals

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Potential Danger in the Promised Land https://www.bluestonehockley.com/potential-danger-in-the-promised-land/ https://www.bluestonehockley.com/potential-danger-in-the-promised-land/#respond Mon, 11 May 2020 18:18:35 +0000 https://www.bluestonehockley.com/?p=27554 A reflection on being a landlord in the Portland Oregon metro area during the pandemic. Unemployment As I am sure you have heard, the national unemployment numbers are dismal, with current rates (April 2020) estimated around 15%. This may be lower than the real number due to the challenges many newly unemployed have had filing... Read more ›

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A reflection on being a landlord in the Portland Oregon metro area during the pandemic.

Unemployment

As I am sure you have heard, the national unemployment numbers are dismal, with current rates (April 2020) estimated around 15%. This may be lower than the real number due to the challenges many newly unemployed have had filing and the processing backlog faced by local unemployment offices.

Below is a chart of the number of claims, by month, in Oregon. (April is through 4/18.)

The unemployment rates below are estimates based on initial claims filed and closely track national numbers.


Collections

Our March Collections were normal, even as the pandemic rolled into Oregon. We transitioned our operations from the Barbur Blvd. office to our home offices in the third week of March. Thankfully, we spent the last two years investing in the infrastructure to be able to operate from the cloud.

Currently, Rents are being collected, and bills are being paid and maintenance operations continued. Many of our clients are being communicated with on a weekly basis or as the situation on the ground with their property changes.

April collections, so far, have been lower, with about 85+% of client revenues received across all property types as compared to an average of 95% in a normal month.

May residential rental collections will be impacted by the number of unemployed tenants, federal funds deployed, unemployment collected and the eviction moratoriums enacted by the cities of Hillsboro, Beaverton, Portland; Multnomah County; and the State of Oregon.

Residential Collections:

Residential Eviction Moratorium

Multnomah County allows tenants up to six months, after the county’s emergency declaration is lifted, to repay missed rent. (This grace period required tenants to demonstrate a COVID-related impact BEFORE missed rent was due.) As of April 16th, the Eviction Moratorium Six-Month Repayment Grace Period was revised to state that “any residential tenant shall have a six-month repayment grace period which includes rent and other service charges.

In April, Bluestone and Hockley negotiated payment plans with tenants, based on the then current language. These rules and regulations have become more restrictive. Based on the current language of the Multnomah County ordinances, payment plan agreements are still a valid strategy to use, by keeping a current record of understanding and legally nudging tenants to pay the most they are able (a partial payment for example).

Payment agreements currently have limited practical utility in Multnomah County, because,  a) The language of the moratorium creates a repayment obligation that doesn’t begin until the emergency status is lifted, and we don’t know when that will be (i.e., we don’t yet have a “start date” for the 6-month repayment period) and b) Even more significantly, the language does not require any interim rent payments and merely states that tenants have 6 months to repay the covered debt once the emergency is lifted. Accordingly, once the emergency is lifted, the tenant can pay $0 of the arrearage until day 180 and we can’t terminate them for it until day 181.

Currently, the rest of the state is covered by either local regulations (i.e. Beaverton, Hillsboro, etc.) or by the Governor’s Executive Order 20-13.

See link here:  https://www.oregon.gov/gov/admin/Pages/eo_20-13.aspx

Summary: Oregon Governor’s Executive Order 20-13 for residential tenancies.

During this moratorium, landlords of residential properties in Oregon shall not, for reason of nonpayment as defined in paragraph l(b) of this Executive Order, terminate any tenant’s rental agreement; take any action, judicial or otherwise, relating to residential evictions pursuant to or arising under ORS 105.105 through 105.168, including, without limitation, filing, serving, delivering or acting on any notice, order or writ of termination or the equivalent; or otherwise interfere in any way with such tenant’s right to possession of the tenant’s dwelling unit.

Nothing in paragraph 1 of this Executive Order relieves a residential tenant’s obligation to pay rent, utility charges, or any other service charges or fees, except for late charges or other penalties arising from nonpayment which are specifically waived by and during this moratorium. Additionally, paragraph 1 of this Executive Order does not apply to the termination of residential rental agreements for causes other than nonpayment.

During this moratorium, any residential or non-residential tenant who is or will be unable to pay the full rent when due under a rental agreement or lease, shall notify the landlord as soon as reasonably possible; and shall make partial rent payments to the extent the tenant is financially able to do so.

Commercial Eviction Moratorium

What is clear is that businesses that are unable to operate as a direct result of COVID -19 cannot currently be forced to pay rent or be evicted. At the same time, the Governor’s order expects commercial tenants that are able to need to pay rent. This implies that the use of PPP (Payroll Protection Program) or other funds to pay rent is expected, and we are seeing commercial tenants pay their rent if they were fortunate enough to have secured the loans.

Oregon Governor Executive Order 20 – 13 for commercial tenancies

During this moratorium, landlords of non-residential properties in Oregon shall not, for reason of nonpayment as defined in paragraph 2(b) of this Executive Order, terminate any tenant’s lease; take any action, judicial or otherwise, relating to non-residential evictions pursuant to or arising under ORS 105.105 through 105.168, including, without limitation, filing, serving, delivering or acting on any notice, order or writ of termination or the equivalent; or otherwise interfere with such tenant’s right to possession of the leased premises.

This Order shall apply if a tenant provides the landlord, within 30 calendar days of unpaid rent being due, with documentation or other evidence that nonpayment is caused by, in whole or in part, directly or indirectly, the COVID-19 pandemic. Acceptable documentation or other evidence includes, without limitation, proof of loss of income due to any governmental restrictions imposed to mitigate the spread of COVID-19.

Nothing in paragraph 2 of this Executive Order relieves a non­residential tenant’s obligation to pay rent, utility charges, or any other service charges or fees, except for late charges or other penalties arising from nonpayment which are specifically waived by and during this moratorium. During this moratorium, a non-residential tenant who is or will be unable to pay the full rent when due under a rental agreement or lease shall notify the landlord as soon as reasonably possible; and shall make partial rent payments to the extent the tenant is financially able to do so.

As you review our commercial rent collection charts below, you will see that our property managers worked very closely with our clients and tenants to collect 88% of April’s commercial rent.

Forbearance

Most of our property owners have had enough reserves to get through the month of April.  Those in trouble have started negotiating with their banks to buy some breathing room.

  • Some financial institutions are agreeing to put off payments for a couple of months, some are putting off principal payments and asking for interest-only. There are no consistent lender policies at this point. Freddie Mac will offer forbearance up to 90 days (three consecutive monthly payments). If the Borrower accepts this arrangement, Freddie Mac will also waive any associated late charges and default interest.

This is different than foreclosure, where a financial institution will take a property back from a property owner, through strict foreclosure or deed in lieu of foreclosure.

Association Collections

As of the 13th of April, approximately 86% of our Association homeowners had paid their assessments, compared to approximately 93% in a normal month. We expect that the month of May will result in a lower collection percentage as some owners were laid off.

Summary

Yes, COVID-19 does exist. We are aware of  tenants that are infected with COVID who live in buildings we manage. We also have tenants who are taking care of sick family members, and many tenants who have been laid off or permanently lost their jobs as a direct result of this pandemic. Businesses have either closed or severely reduced the scope of their operations to comply with the Governor’s executive orders. The impact of this disease and the efforts to flatten the curve will be felt for many months.

There is a glimmer of hope on the horizon with the May 1st opening of hospitals and dental offices for minor procedures. (Of course, this is dependent on the ability to obtain personal protective equipment (PPE).  The Governor’s order requires a two-week supply before work can begin.)  If this is successful, we should see the opening of the state as soon as the Governor thinks it is safe.

 We are on the edge of a new frontier and need to adjust our expectations. Investors are resourceful and will find a way to cope with all these changes. The only way property owners will obtain all of their rent payments will be full employment. We will all have to work as a community to open the state in a safe manner and get everyone back to work, with the appropriate social distancing and PPE. There is still danger in the promised land.

CARES Act Summary From NAA 4.13.2020 (2)

Mult Co 4.16.2020 Ordinance No. 1284

Mult Co 3.29.2020 Ordinance 1282

Hillsboro 3.25.2020 Administrative Order 2020-01 


Coronavirus Update: What can a real estate investor expect in the next six months.

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Self-help: Cashierless retail has arrived https://www.bluestonehockley.com/self-help-cashierless-retail-has-arrived/ https://www.bluestonehockley.com/self-help-cashierless-retail-has-arrived/#respond Fri, 01 May 2020 18:21:57 +0000 https://www.bluestonehockley.com/?p=27548 “Saving time is just as important as saving money.” That is what Patrick Shanks, regional vice president for Walmart Neighborhood Market operations, has said about the consumer’s quest for convenience. Walmart’s first Neighborhood Market store that is cashierless opened in January, in Florida. There, at least until COVID-19 social distancing practices, sales associates roamed the... Read more ›

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“Saving time is just as important as saving money.” That is what Patrick Shanks, regional vice president for Walmart Neighborhood Market operations, has said about the consumer’s quest for convenience. Walmart’s first Neighborhood Market store that is cashierless opened in January, in Florida.

There, at least until COVID-19 social distancing practices, sales associates roamed the floor, helping customers check out using handheld mobile devices. Self-checkout lanes feature expanded room for large baskets, a change from traditional Walmart self-checkout lanes, and the stores accommodate buy-online-pick-up-in-store, as well as same-day grocery delivery.

Three-quarters of consumers say they want in-store staff to use mobile devices to provide a better in-store experience, according to the State of Mobility in Retail report, which SOTI, a provider of mobile-technology support, released in January. Two years after Amazon Go opened its first cashierless store, “speed is the number one thing customers are looking for” in their shopping experience, Shash Anand, SOTI’s vice president of product strategy, told SCT. Retailers that adapt quicker, more-efficient frictionless technology are more likely to have repeat customers who stay in the store longer. The technology “increases trust levels,” according to Anand. “Customers think, ‘This is a company that is adapting to my needs’ … and the brand gets elevated more,” he said.

Not all cashierless technology is the same. “Cashierless technology falls on a continuum, based upon the role that the consumer plays in the checkout process,” said Jerry Sheldon, a retail technology analyst at Franklin, Tenn.–based IHL Group. Grabango’s checkout-free technology tracks customers’ selections by means of small, ceiling-mounted cameras, CV (computer vision), and artificial intelligence. Regional grocery chain Giant Eagle is piloting the service, which integrates with a store’s existing point-of-sale system so shoppers can pay either by app or from a traditional checkout line.

To gain entry to AWM Smart Shelf–enabled stores, shoppers scan a QR code with the Smart Shelf app. Mounted cameras, digital shelving and object-identification software keep track of items. Mexican convenience chain Oxxo recently adopted the technology. Based on the items customers have placed in their carts, this technology also suggests additional items for purchase, provides coupons and digitally directs consumers to the aisles for those items. “We’re really getting to a place with our data where we can predict what the customer is going to do,” said Kaitlyn Kempiak, Smart Shelf’s marketing director.

Other cashierless technology keeps the checkout process but focuses on making self-checkout more efficient. Caper’s smart shopping carts, for instance, are equipped with bar code scanners, cameras for item recognition, and credit-card swipers. This means that shoppers can scan and pay for items using the carts themselves. Italy-based Datalogic’s technology, meanwhile, is so advanced that the scanning system can even differentiate between a Gala apple and a Red Delicious. Many self-checkout customers stumble over produce checkout and lose time, says Jose Vega, a Eugene, Ore.–based retail marketing manager with Datalogic. And the new Impinj wireless tag, which relies on Rain RFID (a battery-free, wireless technology that connects UHF-frequency RFID tags to the internet) automatically scans items as they are placed in baskets at self-checkout lines.

Saving on labor

Cashierless systems save retailers on labor too. “With cashierless technology, no one’s calling in sick to work or saying, ‘I’m going to be late because I have car trouble. You’re always going to have labor,” said Sheldon. Such technology also allows retailers to reallocate employees from checkout to the places where customer interactions matter most: on the floor.

But cashierless systems that rely on cameras, sensors and AI can cost hundreds of thousands of dollars. The Wall Street Journal pegged the cost of outfitting a 7-Eleven-size store with cameras and camera vision at about $100,000 to $300,000. “It’s hard to understand the cost-effectiveness [of these systems] for a large format,” Sheldon said.

For smaller convenience stores, however, the future may already be here. In June of last year, Retail Business Services, the U.S. arm of Netherlands-based supermarket chain Ahold Delhaize, installed a 300-square-foot cashierless convenience store, Lunchbox, at its Quincy, Mass., headquarters. The company decided to provide this for its workers while the regular company cafeteria was being renovated. The company worked with UST Global to develop the store, which relies on AI to track items. The system operates through a proprietary app that admits customers into the store and then charges their digital wallets. Setup took only about seven weeks, says Kenneth Bolick, senior director of IT innovation at Retail Business Services.

“We feel that we could implement [a cashierless store] even more quickly in future locations,” Bolick said. It was a real-life example of where cashierless technology is going. “We’d all been hearing that this type of thing is possible, but what amazed us is how accurate artificial intelligence is and how accurate the orders are. That trust is so important in the retail industry.”

Consumer behavior also changed. “There was this amazement as people walk out,” Bolick said. “You’re so used to having friction in your lifestyle, so when you just have to walk out, you almost wonder if it’s OK. You see people hesitate, and you have to be like, ‘Yeah, keep walking — you’re fine.’ ”

Now, months later, people have quit reaching for their wallets.

Source: ICSC Research

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Available Rentals

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Rental Housing Alliance Presentation https://www.bluestonehockley.com/rental-housing-alliance-presentation/ https://www.bluestonehockley.com/rental-housing-alliance-presentation/#respond Tue, 28 Apr 2020 00:08:13 +0000 https://www.bluestonehockley.com/?p=27525  Successful Real Estate Investing & Property Management with COVID-19 Taught by: Cliff Hockley, President Bluestone & Hockley Real Estate Services Cliff Hockley shared his 32+ years of real estate brokerage and property management experience to help you increase returns on your real estate investments. In case you missed the live version of this informative and... Read more ›

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 Successful Real Estate Investing &

Property Management with COVID-19

Taught by: Cliff Hockley, President

Bluestone & Hockley Real Estate Services

Cliff Hockley shared his 32+ years of real estate brokerage and property management experience to help you increase returns on your real estate investments. In case you missed the live version of this informative and interactive seminar we’ve added it here. In the first 20 minutes, he touches on how our property managers are responding to COVID? Then a PowerPoint on Proforma analysis-analyzing how properties should perform in a “normal” environment and finally he will cover how to underwrite apartment investments to make money.
The full presentation can be watched below or you can view a copy of the RHA Presentation Slides with this link.


 

Available Rentals

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CCIM – Virtual Coffee & Current News https://www.bluestonehockley.com/ccim-virtual-coffee-current-news/ https://www.bluestonehockley.com/ccim-virtual-coffee-current-news/#respond Fri, 17 Apr 2020 22:46:00 +0000 https://www.bluestonehockley.com/?p=27520 We teamed up with Oregon/SW Washington CCIM Chapter for their virtual coffee and current news hour on Wednesday 4/15. The topic was: Vacancy, Non-Payment, Perspectives from a Property Management Company Cliff Hockley, CCIM and his team will touch on the following topics: Property management around COVID-19 How many people paid rent for April Procedural changes... Read more ›

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We teamed up with Oregon/SW Washington CCIM Chapter for their virtual coffee and current news hour on Wednesday 4/15.

The topic was: Vacancy, Non-Payment, Perspectives from a Property Management Company

Cliff Hockley, CCIM and his team will touch on the following topics:

  • Property management around COVID-19
  • How many people paid rent for April
  • Procedural changes to adapt to this new environment
  • What will May and June look like
  • Retail needs a tourniquet and so does hospitality


Available Rentals

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Bluestone & Hockley offers property management services to out of state owners. https://www.bluestonehockley.com/bluestone-hockley-offers-property-management-services-to-out-of-state-owners/ https://www.bluestonehockley.com/bluestone-hockley-offers-property-management-services-to-out-of-state-owners/#respond Tue, 14 Apr 2020 17:36:19 +0000 https://www.bluestonehockley.com/?p=27491 Over the last few weeks, Bluestone & Hockley has shifted all our operations to our almost 100% remote based staff. We had been developing a remote-based infrastructure over the past two years as part of our emergency planning efforts,  and had a  fairly smooth transition from the office to our employee’s homes. Ninety percent of our... Read more ›

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Over the last few weeks, Bluestone & Hockley has shifted all our operations to our almost 100% remote based staff. We had been developing a remote-based infrastructure over the past two years as part of our emergency planning efforts,  and had a  fairly smooth transition from the office to our employee’s homes.
Ninety percent of our staff is working from their home offices.  A portion of our accounting staff is working from our main office, in order to process mail and post and pay all our client’s bills on a timely basis. All our employees are available by phone, email, and video, and have been communicating with tenants and clients as the need arises.
Properties are still being inspected on a regular basis, but meetings with clients, tenants and vendors are being held over Ring Central, to maintain the Governor’s mandated social distancing and stay at home orders.

RENT ABATEMENT/CONCESSION REQUESTS

  • Residential and commercial tenants are requesting abatement’s, are being handled on a one-off basis.
  • Every situation is different, and we are being thoughtful in our analysis of each tenant’s needs.
  • Late fees are being waived across the board for the month of April.
  • We have shared information with all of our commercial tenants regarding the availability of government bailout funds.
  • Some national tenants are being very aggressive in their rent abatement requests, this is unfortunate since they are more likely be better financed to make it through this pandemic than local businesses.

LANDLORD ASSISTANCE

  • If you are an owner of a property located in the Portland metropolitan area and are unable to inspect your property due to travel restrictions, we can visit your property and give you a report on which of your tenants are open or closed. We have a nighttime security/ maintenance team available to inspect and secure your property if necessary.
  • To ease the burden of day by day management, Bluestone & Hockley provides Commercial, Residential/Multi-family, and Community Association property management services. We also have accounting-only, and maintenance services fully staffed.
  • Many lenders are still active in the local marketplace, but in these uncertain times loan standards and commitments have changed. We can refer you to reputable mortgage and hard money brokers that can assist you if you need to reassess your property’s underlying financial basis. Unfortunately, in the near-term cash-out loans will be difficult to arrange.
We look forward to helping you protect your investment. You can reach out to our president, Cliff Hockley at chockley@bluestonehockley.comwww.bluestonehockley.com or 503.222.3800.
For more information please visit our website or contact one of our directors:
Bluestone & Hockley Real Estate Services | www.bluestonehockley.com

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