In this environment, recruiting, building and maintaining a high-functioning team can be a tall order, says Joe Melton of The Morgan Group. By Joe Melton (MultiHousingNews.com Article) — Keeping onsite associates in the fold is a challenge for many apartment communities, regardless of the economy. The jobs are demanding and can be quite stressful....Continue reading »
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The national average rent fell $1 to $1,471, and YOY rent growth fell 20 basis points to 3.2%. By Mary Salmonsen (MultiFamilyExecutive.com Article) — The average U.S. multifamily rent fell by $1 to $1,471 in September 2019, while year-over-year rent growth fell by 20 basis points to 3.2%, according to Yardi Matrix’s latest National Multifamily...Continue reading »
A guide to renters’ insurance benefits, clauses, and leasing agreement language. By Lawrence Jankelow (MultiHousingNews.com Article) — If someone told you there was a single paragraph you could add to your leases that could save you thousands of dollars and give you significantly greater peace of mind, you’d add it, right? Well, there is:...Continue reading »
Multifamily communities have the basic building blocks to be top sustainability performers in the housing industry, according to Erin Hatcher of AMLI Residential. By Erin Hatcher (MultiHousingNews.com Article) — Regardless of the age of the property, apartment life offers many advantages for individuals and for the greater community, especially...Continue reading »
Indianapolis, Ind. ranks highest on Compound’s list, while West Coast hubs fare poorly. By Mary Salmonsen (MultiFamilyExecutive.com Article) — Real estate investment tech company Compound has launched its Compound Residential Real Estate Investment Rankings (“CRRR”) report with a ranking of the best- and worst-performing U.S. cities for real...Continue reading »
Why developers should be careful about using untested technology in buildings. By Scott Sowers (MultiFamilyExecutive.com Article) — In 2015, the developer behind Brickell House, a 46-story condo tower in Miami’s financial district made the news as a brand-new $16 million robotic car garage that was supposed to retrieve residents’ vehicles...Continue reading »
The 170-unit Rosemont Park, situated 10 miles east of downtown, traded for $28.8 million. By Jeffery Steele (MultiFamilyExecutive.com Article) — Rosemont Park, an apartment community in the Sacramento County municipality of Rosemont, Calif., has been acquired by Pathfinder Partners. The 41-year-old, 170-unit property featuring apartments and townhomes...Continue reading »
Short-term housing options can be a win-win for all parties involved. By Jamal Lee (MultiFamilyExecutive.com Article) — No matter the type of multifamily you own, from luxury units to Class B multifamily, you’ve likely heard the term “corporate housing” or “temporary housing.” This refers to fully furnished and fully serviced temporary...Continue reading »
Multifamily investors should also think about the political climate and other issues that may not always appear on a standard checklist, says Chris Mavros of Case Real Estate Capital LLC. By Chris Mavros (MultiHousingNews.com Article) — For the past few years, investors with a position in New York City multifamily properties have been on a roll,...Continue reading »
More than 80 percent of markets with rent regulation tracked by RCA saw a spike in cap rates over the past year. By Bendix Anderson (NREI Online Article) — Investors are starting to pay less for apartment properties in markets that have some kind of rent regulation laws on the books. In addition to New York, cap rates on apartment properties...Continue reading »
