PRESIDENT'S MESSAGE Rochester Chapter

2022 RAC NYSCAR President's Message

February 28, 2022

From Desk of Dara E. Rennert, RAC NYSCAR President:

While we are a mere two months into this year, the world is moving quickly around us. First, let's take a moment to pray for those suffering and the violent attacks in the Ukraine. It's hard to watch on the news and imagine that could be anywhere and happen to any of our families.

Some thoughts to keep in mind on how it may impact our businesses. Professionally, I anticipate what is happening in Europe will affect our real estate market, with the uncertainty increasing interest rates, and thereby, lowering buyers’ budget. In addition, we may see less foreign buyers due to the uncertainty and fear that they may need their funds for their families.

On a happier note, the COVID-19 rates are drastically reduced and life is resuming a more normal feel. RAC NYSCAR was able to host our first in-person monthly meeting, and it was a smashing success. Thank you to Flaum Management for co-hosting, Mayor Malik Evans for his opening remarks and Matt Hurlbutt for being our keynote speaker as well as to all 75 people who attended! Our membership has been reaching out with great ideas for events, educational topics and overall networking, and we are so excited to deliver new events at a high level! Please see more in this newsletter for member involvement on our Committees. Stay tuned for more details on our events as they become available.

Last month, the COVID-19 eviction moratorium expired, enabling landlords to finally file for eviction for non-paying tenants. The moratorium has proven to be a huge burden for landlords as well as reduced the property's value. While the domino effects of this moratorium are far from resolved, they are on the upswing and the future is bright.

Locally, we are seeing tremendous growth in new business openings, businesses expanding and overall deals are successfully happening. I believe so much of that has to do with the professionalism and comradery that our region exhibits on a daily basis. I am proud of what we have accomplished and excited for what our futures hold.

We look forward to supporting you and seeing you at all the great events!

Warmly, Dara