REI INK

Turnovers Are Fundamental Aspect of the Single-Family Rental Market

How to Master the Art of Turnovers By Deanna Alfredo Now more than ever, single-family rental owners need a concise turnover process in-between residents. While there is a draw to the single-family rental market, it is more challenging than ever to procure a consistent revenue stream for investors. A smooth turnover process is necessary to create efficiencies and maintain profitability as a vendor and property owner. In this article, we delve into the intricacies of rental unit turnovers in the single-family rental market, exploring the essentials of what it takes to turn a unit and what owners are seeking in their investment properties. In the single-family rental market, turnovers play a crucial role in maintaining cash flow and preserving the value of the investment property. Key to success in this arena is understanding the intricacies of rental unit turnovers. Communication // Communications and setting expectations go hand-in-hand throughout the turnover process. It is highly advantageous for property managers to work with property owners to create details around the standards they desire for their single-family rental homes. These standards can include items such as finishes and other consistencies that can be applied to each property in their portfolio. Taking the time to create the standards and expectations and having concise conversations around those details with prospective vendors is crucial to a successful turnover. Going into a turnover with communication and standards in place can lead to cost-effectiveness for both the vendor and property owner. Cost-effectiveness is directly impacted by volatility in the marketplace. Understanding current market conditions around labor and supply pricing is a large factor in successful turnovers as well. Process Flow // The turnover clock starts ticking at the point of the move-out inspection. Vacancy periods represent lost income for property owners, making swift turnovers essential for maintaining cash flow. Owners aim to streamline the turnover process to minimize downtime between tenants and maximize occupancy rates. A process tip is as simple as referring to your turnover vendor partner to assist with the move-out inspection. It can be beneficial to utilize the move-out inspection to formulate the scope for the turnover and establish pricing at the same time. Vendor Selection // Vendor selection is an integral component of the turnover process. Partnering with a trustworthy vendor can help offset economic constraints on the turnover process. Seasoned vendor partners will have a pulse on the local market and can bring cost-effectiveness. Having a large sized turnkey, trusted vendor partner can create efficiencies in internal processes which directly correlate to increased profitability. Establishing a relationship with a turnkey vendor can allow you to build your book of business without increasing your overhead. Conversely, a smaller local vendor may allow you to save money on the immediate turnover costs related directly to the scope of work being performed. Local vendors may require more of your team’s time to manage and oversee projects,as well as limiting your scalability and growth. Systems Analysis // At the point of the turnover, it is suggested to review all major systems, such as HVAC, hot water heaters and appliances. Understanding the age and condition of these products can equip you to make decisions that could decrease maintenance spend by allocating capex at the turnover. It is important to catalog each system’s age and condition to make appropriate spending decisions after a new resident has moved in. Attention to detail at the turnover stage can determine overall maintenance spend for the life of the lease with the new resident. Satisfied tenants are more likely to renew their leases or recommend the property to others, reducing turnover costs for owners. By providing well-maintained, aesthetically pleasing rental units, owners can cultivate positive tenant relationships and foster a sense of pride in the property. Curb Appeal // First impressions can play a vital role in a prospective resident’s decision-making process. Owners must prioritize landscaping and curb appeal to create an inviting atmosphere and differentiate their rental units from competitors. From an owner perspective in the single-family rental market, efficient turnovers are paramount to maximizing returns on investment. Key Factors When Preparing Rental Units for New Tenants Minimizing Vacancy Periods // Vacancy periods represent lost income for property owners, making swift turnovers essential for maintaining cash flow. Owners aim to streamline the turnover process to minimize downtime between tenants and maximize occupancy rates. Maximizing Rental Value // Investing in upgrades and amenities allows owners to command higher rental rates for their properties. By offering desirable features and modern conveniences, owners can attract quality tenants willing to pay premium rents, thereby increasing overall profitability. Preserving Property Value // Regular maintenance and timely turnovers are critical for preserving the long-term value of investment properties. Owners understand the importance of maintaining their properties in optimal condition to protect against depreciation and ensure sustained appreciation over time. Enhancing Tenant Satisfaction // Satisfied tenants are more likely to renew their leases and recommend the property management company to others, reducing turnover costs for owners. By providing well-maintained, aesthetically pleasing rental units, owners can cultivate positive tenant relationships and foster a sense of pride in the property. In summary, turnovers are a fundamental aspect of the single-family rental market, influencing both short-term profitability and long-term investment success regardless of portfolio size. By prioritizing consistent standards, partnering with trusted vendor partners, and creating curb appeal, owners can attract quality tenants and command higher rental rates for their properties. Additionally, efficient turnovers help minimize vacancy periods, maximize resident satisfaction, and preserve the value of investment properties over time. As the demand for single-family rentals continues to rise, mastering the art of turnovers remains essential for investors seeking to capitalize on this thriving market.

Read More

Attorney Opinion Letters vs. Title Insurance

A Not-So-Tough Choice By David Sober Much of the industry is taking sides in the great debate of attorney opinion letters versus title insurance. Both sides seem to have strong feelings about why one is better or worse than the other, and there has been no shortage of commentary from both parties battling this out in the press. As head of business development at the only national firm that offers both, I have excellent news: You do not have to choose sides. Ceasefire, everyone. There is no need to be all-in as a rule on one option or the other. Instead, you can choose which best suits the homebuyer you are helping, based on their situation. And isn’t that what it’s all about? We can all agree that homeownership is the surest path to building savings and net worth for most people and that breaking down financial barriers to homeownership is a major priority for those working in the housing space. In that spirit, let’s explore this great debate and the path forward that has emerged so that we can focus our efforts squarely on helping the homeowners we work to serve. FHFA Introduces a Paradigm Shift Over the last six months, there was news that Fannie Mae and Freddie Mac would not only continue accepting written attorney opinion letters (AOLs) as an alternative to a title insurance but also would expand their use. This new approach generated mixed reactions. The announcements are part of a larger program exploring waiving certain title requirements in specific transactions. As the FHFA notes, in some cases, AOLs are less expensive for homeowners. But many wonder if they are indeed better. Various questions were asked: Is this move too risky? Will lenders be comfortable? Is the homeowner still protected? And of course, there is an entire title insurance industry to consider, and they were none too happy to hear of this news, pushing back furiously in statements, interviews, and op-eds all over the trade press. But curiosity reigned for those who do not make money off the issuance of a title insurance policy. After all, if the GSEs are willing to allow it, then it is considered a legitimate alternative. Does this new guideline represent a notable paradigm shift, and if so, is there still room for traditional title insurance? The fact is, with an AOL, some homebuyers can shave hundreds or thousands of dollars off of their closing costs. Many industry players pointed out that by accepting AOLs, Fannie and Freddie are helping to make the housing transaction more affordable for homebuyers, which is critical now more than ever in this challenging market environment. And with rates so high, maybe now is the time for lenders to consider alternatives that will reduce business and consumer costs. As long as it is safe, with minimal risks to the homebuyer or downside for the lender. And it is safe. AOLs: A Viable and Effective Alternative to Title Guess what? AOLs are not new. In fact, using legal opinions to confirm the marketability of a title is a practice that existed long before title insurance. But with the growth of large title insurers with the capacity to process high volumes of originations and take on the accompanying risk, attorneys issuing title opinions were priced out of the market. The advent of recent innovations, however, has brought the AOL back into play. The recent introduction of AOL products like the Voxtur AOL, marks the first time that attorney opinion letters have been produced in a way and carry an insurance policy that makes them a genuinely viable alternative to title insurance. This product covers all the bases. It is available nationwide, has purchase and refinance options, and offers comprehensive owner’s and lender’s coverage.  Despite the clear advantages of using an AOL, given the substantial cost savings, there are some misgivings about the “risks” involved in using an AOL instead of a title insurance policy. The problem is that these “risks” are based on assumptions about attorney opinion letters as they once were, not as they are now. One misconception is that title insurance focuses on risk prevention rather than risk assumption, while an AOL only protects on a go-forward basis. To understand why this is misguided, it helps to know why title insurance started. Before title insurance and AOLs existed, owners and lenders were often left without protection because they needed the privity of a contract with the attorney performing the review and issuing the opinion.  Today’s AOLs have addressed the problem of the lack of privity. They do not rely on traditional liability, errors, omissions, or insurance. And with a Voxtur AOL, every issuance is backed by a transactional liability policy that covers the lender, the owner, the attorney, and the title service provider. Each stakeholder in the loan origination process, and each successor in interest to those stakeholders, has the legal right to file a claim. In other words, the coverage is fully transferable in the secondary market. Another common misconception is that an AOL does not cover title curative work, which may become necessary. The assumption is that title insurance provides this coverage. But “enhanced” AOLs like the Voxtur product follow the same curative process that exists for traditional title insurance. Similarly, Voxtur AOL provides coverage for both curative work and payment of the diminution in value claim if the issue cannot be cured. The difference is that the A.M. Best-backed A-rated carriers behind Voxtur AOL provide a faster and more effective claims process. Finally, some critics assert that title processors are the only professionals focused solely on the title and, therefore, the only experts qualified to opine on it. This argument is easily debunked. In reality, attorneys are held to higher professional standards than those applied to title processors. An attorney’s work in the title review process and the issuance of AOLs is no exception. Aside from honing a highly specialized skill set, attorneys must also approach this work practically, responsibly, and

Read More

What Real Estate Industry Leaders Are Saying About the Market

The Ability to Anticipate and Adapt to Future Changes is Crucial By Fay Smith The real estate market is an ever-changing world that dictates the course of global economies and the fate of local communities. Since the stability of the real estate market has a direct influence on shaping our everyday life, insights from leading industry experts should be of great interest to anybody who has something to do, directly or indirectly, with real estate. This article provides an analysis of “the prevailing trends for today and predictions about the future, along-side insights into “the expert tools to understand what is happening and be more successful in shaping the future. Navigating Market Dynamics Real estate dynamics are shaped by various factors including technological advancements, shifts in consumer preferences, and economic fluctuations. Recognizing these elements is vital for optimizing real estate portfolios and making informed decisions. Industry experts consistently emphasize the importance of flexibility in property assets. Many companies are transitioning from long-term, fixed real estate agreements to more flexible leasing options. This strategy enables businesses to adapt quickly to market changes and evolving workforce needs. Technological integration is revolutionizing property management and operations. Smart building technologies or artificial intelligence are making the assets more efficient, less costly and more sustainable. These developments are sound strategies for real estate professionals who are invested in the future and want to future-proof their assets. Strategic Approaches to Investment and Development Investing strategically is key to ensuring that real estate decisions remain in line with the broader goals of the business. Sustainability is at the forefront of future real estate development. Green buildings, though more costly initially, provide significant long-term benefits, including reduced operational costs and a lower environmental impact. Leaders advocate for investments in sustainability as a means to enhance asset value and appeal to environmentally conscious stakeholders. Accurate and timely data continues to prove essential in the real estate space as companies seek more sophisticated data-driven strategies. Data helps investors better calibrate their level of analysis and make decisions that are more likely to be consistent with corporate strategy. One of the simplest risk-mitigating strategies is geographical diversification: the purchase of mortgages in more than one area, so that the collapse of one can be compensated for by the success of another. That’s partly because good locations will always have some resale value, even when the real estate is highly leveraged. But the strategy makes even more sense conceptually, since you’re buying real estate in two different market cycles that seldom peak and trough at the same time. Smart diversification strategies consider not just geographical locations but also the types of real estate—such as residential, commercial, and industrial—to optimize the investment mix based on current market trends and future growth potential. A key part of the decision-making process for both real estate investors and local authorities is being able to pinpoint specific neighborhoods where people feel safe. Safety is a key determinant of whether people want to live there, with tenant turnover (staff turnover in the case of public authorities) being an important proxy for desirability. It also affects how much a property (whether owner-occupied or rented) will grow in value. Investors can enhance their understanding of community safety by utilizing various online resources. Enhancing Operations Through Expert Collaboration The complexity of the real estate market often necessitates partnerships with specialized firms. These collaborations can enhance internal capabilities and offer expertise in critical areas such as market analysis and regulatory compliance. Collaborating with real estate service providers offers access to specialized knowledge essential for navigating market intricacies effectively. These professionals help companies optimize their real estate operations, allowing them to focus on core business functions. Despite the optimistic outlook by many leaders, the real estate industry faces uncertainties from economic pressures and geopolitical developments. The ability to anticipate and adapt to future changes is crucial. All in all, the real estate business will remain a dominant part of the economy because of its various sub-industries and implications. Organizations and individuals can fulfill their potential and take advantage of the real estate sector by referring to the views of senior figures in this domain and implementing recommendations from their pragmatic experiences. When looking at real estate markets, shifts in demographics are ever more important in having informed insights and making the right decisions, as trends in population make certain property types increasingly attractive. Demographic trends encompass an extremely broad area of future possibilities, but a few tendencies stand out as particularly relevant and timely. The aging population (the number of senior citizens) and urbanization increases in many countries are examples of population trends that might influence real estate development, as they will likely generate additional demand for certain property types favored by specific target audiences. For example, increased accessibility of retirement homes can often benefit from an aging population, and urbanization trends might add impetus to demand for residential and commercial properties in cities. Technology also continues to create new trends in the real-estate market. Smart homes reshape the way properties function and attract a tech-oriented demographic. Additionally, virtual and augmented reality (VR and AR) are being incorporated in property marketing and the viewing process to allow buyers across the globe to view your potential properties in real time, which broadens the reach of potential buyers and quickens the pace of the sales process. By staying informed and adaptable, industry professionals can leverage these trends to their advantage, ensuring sustained growth and relevance in a rapidly changing world.

Read More

Why Investors are Leaving Airbnb for Coliving Rentals

Bridging the Gap Between Traditional Leases and Airbnb-Style Stays By Adam Kolojejchick-Kotch While Airbnb’s meteoric rise catalyzed the short-term rental revolution, the landscape has since shifted. Amidst challenges such as regulatory battles and neighborhood concerns, the once-alluring promise of effortless short-term profits faces headwinds. Frustrated hosts have voiced their dissatisfaction, prompting Airbnb CEO Brian Chesky to acknowledge that the platform is “fundamentally broken.” For Airbnb hosts in the U.S., the reality is more nuanced. With occupancy rates declining and the number of available listings surging, hosts are grappling with increased competition, forcing them to compete on price and quality. Top-tier hosts continue to thrive, while lower-tier, undifferentiated properties face more significant challenges. Most investors can no longer achieve the Airbnb dream unless they own properties with luxurious amenities and features or are in a high-traffic area where vacationers visit year-round. The Rise of Coliving Homes Amidst these challenges, a new trend has emerged: the rise of coliving rentals. Investors are pivoting to cater to a different demographic — low-income earners seeking housing solutions for a few months to a year, driven by the scarcity of affordable housing. Platforms like PadSplit have capitalized on this demand, offering affordable, furnished housing options that bridge the gap between traditional leases and Airbnb-style stays. While Airbnb caters to the desire for unique vacation experiences, PadSplit taps into the necessity of providing affordable housing solutions. The demand for affordable living spaces and low-cost rooms for rent is stronger than ever, and this demand is likely to continue increasing over time. Coliving rentals offer many advantages for investors: Steady Income // Longer lease durations provide more stable and reliable income streams. Investors can earn 2.5x more on a single-family home. Reduced Vacancy Rates // Coliving rentals often attract tenants with work-related needs, such as business travelers, interns, or contractors, ensuring consistent demand and lower vacancy rates. Airbnb’s occupancy typically hovers around 48%. Hosts on platforms like PadSplit have a higher occupancy rate of 85%. Lower Operational Costs // With longer stays, property management becomes much more streamlined. Compliance and Regulation // Coliving rentals often face fewer regulatory hurdles compared to Airbnbs. Reduced Management // PadSplit handles most management tasks, such as marketing, member screening, payment collection and 24/7 member support. The Surging Demand for Affordable Housing The United States requires at least 7 million additional affordable homes to meet the demands of low-income families. With thousands of individuals languishing on years-long waiting lists for housing vouchers in virtually every American city, governments alone cannot resolve this crisis. PadSplit aligns the incentives of local governments endeavoring to address this problem with millions of existing and prospective real estate entrepreneurs seeking strong, sustainable cash flows. While Airbnb swiftly amassed over 6 million listings for vacation rentals, increasing regulation of short-term rentals in major cities like New York and Dallas has nearly halved Airbnb host revenues. Potential new taxes on Airbnb in states like California further threaten profits. Turbulent Market Conditions = More Opportunities Turbulent market conditions weed out less serious investors and open up opportunities for those willing to capitalize while facing reduced competition. Despite economic uncertainties, the need for affordable housing remains a constant, unaffected by fluctuations in the economy, interest rates, or housing prices. Investors seeking an exit from underperforming short-term rental properties are finding coliving rentals to be an attractive solution. By converting their properties to coliving rentals, they can achieve higher net occupancy rates and improved profitability while serving the essential housing needs of their communities. The home-sharing revolution continues to evolve, with coliving rentals emerging as a viable and promising alternative for investors seeking stable, long-term profits in arapidly changing real estate landscape. Coliving Homes are the Best Exit Strategy While top hosts with hundreds of reviews on Airbnb continue to perform well, newer and underperforming hosts are looking for the exit as poor Airbnb reviews from hosts are becoming more commonplace. Coliving rentals through PadSplit is the best exit strategy, which is why we have seen a big spike in Airbnb hosts converting their properties to our platform. Of course, not all STR and vacation properties will make good coliving rental homes. The sweet spot is single-family properties in major metro areas with underutilized living space. On average, our hosts earn 2.5x more than traditional single-family rentals and 33% more than Airbnb. Coliving investments offer greater flexibility in terms of location, as individuals can pool their resources to acquire housing in areas that may be unaffordable for a single household. This flexibility extends to both neighborhoods with or without HOAs. In most metropolitan areas, the demand for affordable housing is high, particularly among essential workers employed within the city limits. However, rising rental costs have led to the displacement of these workers from urban centers. Coliving enables essential low-income earners to remain within the city boundaries while enjoying shorter commute times to their workplaces. A Rapid Conversion Process PadSplit’s rooms for rent offer a swift transition for property owners seeking to move away from Airbnb. The hassle-free conversion process is facilitated by the fact that all necessary furniture is already in place. In some cases, property owners can go live with their PadSplit in just a week. This ensures a seamless shift from one model to another without prolonged vacancies or logistical challenges. It is crucial for property owners to align their strategies with society’s prevailing needs. PadSplit not only addresses the pressing need for affordable housing but also offers a reliable exit strategy. PadSplit emerges as the smart choice for investors seeking sustainable and consistent returns in today’s competitive market.

Read More

States Pass ‘Anti-Squatter’ Legislation

Legislation Passed with Overwhelming Bipartisan Support By David Howard As the supply of new housing has struggled to keep pace with demand over the past decade, single-family rental housing has come to play an increasingly important role for families in search of quality, well-located housing. And with the surge in interest rates over the last year pushing the cost of housing to record highs, single-family rental homes provide residents with an affordably priced housing option that, on average, is over $1,000 less per month than the cost of homeownership. Yet, the single-family rental housing market has also not been immune from the effects of the supply constraints impacting the broader housing market. According to the Joint Center for Housing Studies at Harvard University, the number of single-family rental homes nationwide has declined each year since 2016. This decline has partly been offset by a notable increase in the number of single-family homes built expressly as rental properties. Known as build-to-rent housing, this innovative homebuilding platform provides families with a new home lifestyle, complete with sought-after community amenities, with the convenience, flexibility, and affordability of leasing. Housing Availability In today’s supply-constrained housing market, additional development and investment in housing is essential. However, it is just as important to make sure the current stock of housing remains accessible and available, whether ‘for sale’ or ‘for rent.’ One of the most urgent concerns regarding housing availability is trespassing, often referred to as “squatting.” Regardless of the term, the end result is the same — the illegal occupation of one’s property. NRHC became involved with the issue of illegal occupation in earnest in the summer and fall of 2023 when a marked increase in the number of incoming complaints from members led us to take action. We received data on markets where incidents of trespassing occurred most often. Priority markets included Atlanta, Georgia, where data showed 1,200 homes were occupied as a result of trespassing; Dallas/Fort Worth, Texas with 475; and Orange County, Florida, with 125. Illegal occupation for NRHC is not a political issue and it is not an issue of housing fairness or equity. Illegal occupation is about criminal activity. It is about someone who has entered a home and is occupying that home without a legal right to do so. For the property’s legitimate owner, the issue is about property rights, but it is about so much more. There are serious public safety issues at play here — Who is in the home? What is the risk to others in the neighborhood? Also, there is a real concern about the availability of affordably priced housing. Every incident of illegal occupation means there is one less home available for a family in need of quality, single-family rental housing. Responding to Illegal Occupation Many states and jurisdictions across the country had, or have, no accommodating legal framework to allow law enforcement and the courts system to respond adequately to incidents of illegal occupation. Often, property owners are left on their own to try to remove illegal occupants from their homes. Law enforcement often must decide whether an incident of illegal occupation is a civil or criminal matter, or who has proper legal documentation to support their claim of occupation or ownership. Courts are often not able to schedule hearings in a timely fashion to remedy incidents of illegal occupation. All of this leads to inaction, frustration, and in many cases, financial hardship for legitimate property owners. Several states have recently passed legislation to address incidents of illegal occupation. Over the past several weeks, Governors in Georgia, Florida, and Alabama signed bills providing property owners with an assured legal pathway for reclaiming their homes from trespassers. Legislation in these states have several common provisions:  »             They codify the act of trespassing into law  »             They provide a time-certain process requiring owners and occupants to disclose legal documentation attesting to their claims  »             They include preventative measures to ensure owners and occupants are truthful in disclosing that documentation  »             They provide the courts and law enforcement with more efficient means to respond to claims of illegal occupation Importantly, legislation in all three states passed with overwhelming — in some cases, unanimous — bipartisan support.

Read More

COST OF HOME REPAIRS INCREASES BY 4.1% FROM Q1 2023

Slight Decline in Labor Costs Help Slow Overall Increase in Repairs By Rick Sharga, CJ Patrick Company The cost of home repairs and remodeling in the first quarter of 2024 continued to increase, rising by 0.59% from the prior quarter and just over 4% from the first quarter of 2023 according to the Q1 2024 Verisk Remodel Index. Costs once again set new highs for the past decade, rising over 61% from the first quarter of 2014. The Verisk Remodel Index tracks costs on 31 different categories of home repair, comprising over 10,000 line items ranging from appliances to windows. Data are compiled monthly in over 430 local market areas across the country. “Repair costs rose in each of the 31 categories of home repair that are included in our index, but the rate of increase continues to be slow down from the more rapid increases we had during and immediately after the COVID-19 pandemic,” said Greg Pyne, VP, Pricing for Verisk Property Estimating Solutions. “Labor costs appear to be coming down slightly as well, which has an impact on the overall cost of home repairs.” Quarterly costs rose in all 31 categories included in the report. The cost of framing was still slightly lower on an annual basis, and the only covered category that was not higher than in the first quarter of 2023. Framing was the only one of the six largest categories of expenditure to decline on an annual basis. The other four — cabinets, siding, paint, wood look flooring, and plumbing — all rose between 2.5% and 5.5% over the past 12 months. The cost of exterior doors rose the most compared to the last quarter, increasing by over 3.7%. Only two other categories had a quarterly increase of at least 1% — tile flooring at 1.55%, and interior home painting at 1.03%. East South Central Region Shows Highest Quarterly Increase All regions again experienced cost increases both quarterly and annually, but all of the regions reported quarterly increases of less than 1%. The East South Central Region saw costs rise by 0.72% compared to the fourth quarter of 2023, followed closely by the South Atlantic Region, where prices rose by 0.70%. The New England Region had the lowest quarterly increase at 0.51%, but the largest annual increase at 4.51%, slightly higher than the Middle Atlantic Region at 4.47% and the Mountain Region, where prices rose by 4.44%. The index has risen by 65.88% since its inception in January 2013, and the Mountain Region continued to have the highest overall cost increases over the period covered by the index, rising 70.92 points since the first quarter of 2014. The Mountain Region also has the highest increases over the past decade, with costs increasing by 64.74% since the first quarter of 2014. The Pacific Region (63.83%) and New England Region (62.81%) are the only two other regions that surpassed the national average of a 60.72% cost increase over that 10-year span. Northeastern States Have Both the Highest and Lowest Rates of Increase Delaware had the highest quarterly rate of increase in the country at 1.43%, the only state to surpass a 1% increase for the reporting period. Tennessee (0.90%), Florida (0.87%) and Montana (0.87%) barely missed that threshold. Other states with relatively high rates of quarterly increases included:  »             South Carolina (0.84%)  »             Mississippi (0.82%)  »             Michigan (0.79%)  »             New York (0.77%)  »             South Dakota (0.73%)  »             Wisconsin (0.72%) Rhode Island had the lowest rate of quarterly cost increases at 0.37%, followed by:  »             Colorado (0.38%)  »             Wyoming (0.38%)  »             Alaska (0.41%)  »             New Mexico (0.41%)  »             West Virginia (0.42%)  »             Oklahoma (0.42%)  »             Nevada (0.42%)  »             Washington DC (0.43%)  »             North Dakota (0.44%) For more information, please visit www.verisk.com or contact Rick Sharga at rick.sharga@cjpatrick.com. Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. For more information, please visit www.verisk.com.

Read More