Co-working slump adds to office space woes, a make-or-break holiday shopping season, Simon pays its pros, how residential landlords can reduce vacancies, and some year-end tax talk.
In Today's News
Co-Working Volatility Is Making the Office Market More Precarious
The Wall Street Journal reports today that empty co-working spaces are helping push office vacancies in big cities to levels not seen in decades, threatening the commercial property sector's reputation as a haven for investors.
Why it matters: We write about office space here a lot at Millionacres, and for good reason. That's a big part of commercial real estate investment across the land. This WSJ piece is a good overview of a major development here.
It's Going to Be a Make-or-Break Holiday Season for These Retailers
This CNBC report breaks down the prospects for several major retailers this holiday season and provides context in the form of a macro look at how critical the situation is for these brick-and-mortar icons in general.
Why it matters: Check out the financial reports for any retail REITs (real estate investment trusts) you own and see who's on their tenant list, or maybe some of these stores are in properties in which you have a direct interest. Either way, these retailers' success or failure adds to or deletes from your bottom line in that case.
Simon Reverses Pandemic-Related Executive Pay Cuts
Executives and board members at Simon Property Group (NYSE: SPG) will have their pay restored after the REIT cut high-level salaries in response to the pandemic this spring. Pay cuts ranged between 25% and 30%, and CEO David Simon went without pay entirely during this period, the Indianapolis Business Journal [subscription required] reports.
Why it matters: On first blush this matters mostly to the folks getting all that back pay, right? But this also could be a good sign for investors in this widely held REIT, the largest mall owner in the country, since it means the brass is presumably confident they can now pay both themselves and dividend investors.
Today on Millionacres
6 Ways Residential Landlords Can Reduce Vacancy Rates in 2021
Reducing vacancy rates has always been a top priority for landlords, as nothing kills the bottom line more than vacancies.
Why it matters: Millionacres' Laura Agadoni, a seasoned landlord herself, gets first philosophical here -- do you even want to be a landlord under these conditions -- and then pragmatic. For those who do, she shares several ways to help keep the rental space paying.
6 Tax-Related Things Real Estate Investors Can Do Before Dec. 31
The end of the year, of course, marks the deadline for a lot of tax deductions for individuals and businesses. And while 2020 included, among so many other things, the IRS kicking filing dates down the road, it's probably best not to assume that will happen in 2021. Let's assume April 15 will mean something again.
Why it matters: This article contains six areas where you can make some simple moves to help save time and money this filing season -- stuff you can do while cooped up over the holidays.