U.S. adds more jobs than forecast in June – Bloomberg

The rebound in the U.S. labor market accelerated in June as broader re-openings spurred more hiring last month, though filings for unemployment benefits remained elevated last week as coronavirus cases picked up

Payrolls rose by 4.8 million in June after an upwardly revised 2.7 million gain in the prior month, according to a Labor Department report Thursday. The unemployment rate fell for a second month to 11.1%, still far above the pre-pandemic half-century low of 3.5%.

Economists had forecast payrolls to rise by 3.23 million—the median in a range of 500,000 to 9 million—and an unemployment rate of 12.5%.

How can Intellisys Help?

Remote Work Is Here to Stay – The COVID-19 pandemic will set a “new normal” for the office workplace as companies adopt and integrate remote work practices deployed during the pandemic. Therefore, it will transform from a single location to an “ecosystem of different locations and experiences.”

Intellisys, an Illinois company, is a global provider of BPO and Information Technology services and solutions. Intellisys has a State-of-the-Art ISO 9001:2015 / 27001:2013 certified delivery center in Chennai, India. Over the past 22 years, Intellisys has been helping Real estate companies across asset class with qualified and experienced Property Accountants and Fund Accountants who are Domain Experts.

Our services can offer significant benefits

  • Reduce operational costs between 40% – 50%
  • Extensive use of RPA (Robotic Process Automation) tools which allow cutting time and costs significantly
  • Flexibility (Accordion Model – Increase and decrease team size at a very short notice)
  • Can assign large teams of real estate domain experts at a very short notice
  • Fixed Fees – No hidden charges
  • Multilingual Staff (English, Spanish and French)
  • Ad-hoc projects (such as Audits, Seasonal demands)
  • Assist re-purpose existing staff
  • Motivate the existing staff and offer them upward mobility
  • Assist to streamline operation

Please contact riyer@intellisystechnology.com or to learn about Intellisys, its service offerings and how we can assist you visit www.intellisystechnology.com

Unemployment rate unexpectedly falls -The rebound signals the economy is picking up faster than thought

As per Bloomberg America’s labor market unexpectedly rebounded in May, signaling the economy is picking up faster than thought from the depths of the damage from the Covid-19 pandemic.

Nonfarm payrolls rose by 2.5 million after a 20.7 million tumble the prior month that was the largest in records back to 1939, according to Labor Department data. The jobless rate fell to 13.3% from 14.7%.

The data show a U.S. economy pulling back as states relax restrictions and businesses bring back staff. Unemployment rates declined among adult men and women, white Americans, and slightly for Hispanic and Latino Americans.

The New Normal

All businesses post Covid-19 are set to change.  What is also for sure is life that we get back to will be significantly different from the one we had before the outbreak. While we do not portend to know the future, and our lens is limited by our own experiences and a reflection of the past, it is in times of great disruption where great opportunity abounds. It is not just across the spectrum of the industries but among others that we cannot even imagine. 

The current real estate market is much like a Rubik’s cube. Once we think we have it figured out, we look at it from another angle and find out we still do not have it right. There are many factors complicating the current market.

One thing that we are seeing very clearly is a number of clients who were insistent on work being done in house on site are now very open to working from a remote location.  After having worked for 22 years, we can with great confidence say Intellisys is a Subject Matter Expert in this area.

Intellisys Capabilities

Intellisys Technology LLC is a global provider of BPO and Information Technology services and solutions. Intellisys has a State-of-the-Art ISO 9001:2015 / 27001:2013 certified delivery center in Chennai, India. We provide high quality and cost-effective solutions to Real Estate businesses on time and within budget. Over the past 22 years, Intellisys has been helping Real estate companies across asset class with qualified & experienced Accountants without any wait time. All of them are Domain Experts.

Our services can offer significant benefits

  • Reduce operational costs up to 40%
  • Extensive use of RPA (Robotic Process Automation) tools which allow cutting time and costs significantly
  • Can assign large team of real estate domain experts at a very short notice
  • Fixed Fees – No hidden charges
  • Multilingual Staff (English, Spanish and French)
  • Flexibility (Accordion Model – Increase and decrease team size at a very short notice)
  • Ad-hoc projects (such as Audits, Seasonal demands)
  • Assist re-purpose existing staff
  • Motivate the existing staff and offer them upward mobility
  • Assist to streamline operations

Please contact riyer@intellisystechnology.com or to learn about Intellisys, its service offerings and how we can assist you visit www.intellisystechnology.com 

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NMHC Reports 90.8% of Apartment Households Paid Rent by May 20

Today, May 28, 2020 I read an article written by Mary Salmonsen in Multifamily Executive Magazine

Quote

The National Multifamily Housing Council’s Rent Payment Tracker, which draws from rent collection activity in 11.4 million units of professionally managed market-rate housing, has found that 90.8% of apartment households made a full or partial rent payment by May 20.

This marks both a 2.2-percentage point drop in the share of Americans who had paid rent through May 20, 2019, and a slight rise over the 89.2% of households who had paid rent by April 20, 2020. Last week, 87.7% of American households had paid their rent by May 13.

According to the Bureau’s household pulse data survey, 80.3% of all renter households had made their rent payments on time in April, while 17.2% had not and 2.5% had their rent deferred. Of the respondents, one-third had no confidence, or only slight confidence, that they could pay rent the next month.

Management companies are being “flexible” with their renters, absorbing credit card fees and offering deferral or repayment plans. However, this translates into a loss of revenue for the operator. a “wave” of economic uncertainty and reduced cash flow for the sector, could “come to shore” in the third quarter.

The highest-performing assets are higher-end market-rate properties and Section 8 housing. The Section 8 residents, largely low-income seniors, are able to pay their subsidized rent on time thanks to Social Security, which provides them with a steady income. Low-income housing tax credit properties are “trailing” more, as they are un-subsidized rental properties occupied by working families hit hardest by the pandemic.

Unquote

How can Intellisys help?

Intellisys Technology LLC is a global provider of BPO and Information Technology services and solutions. Intellisys has a State-of-the-Art ISO 9001:2015/27001:2013 certified delivery center in Chennai, India. We provide high quality and cost-effective solutions to Fortune 500, mid-sized, and small businesses on time and within budget. Over the past 22 years, Intellisys has been helping business with qualified & experienced Accountants without any wait time. All of them are Domain Experts.

Our services can offer significant benefits

  • Reduce operational costs up to 40%
  • Extensive use of RPA (Robotic Process Automation) tools which allow cutting time and costs significantly
  • Fixed Fees – No hidden charges
  • Multilingual Staff (English, Spanish and French)
  • Flexibility (Accordion Model – Increase and decrease team size at a very short notice)
  • Ad-hoc projects (such as Audits, Seasonal demands)
  • Assist re-purpose existing staff
  • Motivate the existing staff and offer them upward mobility
  • Assist to streamline operations

Please contact riyer@intellisystechnology.com or visit www.intellisystechnology.com to learn about Intellisys, its service offerings and how we can assist you.