Property Management News
Key Takeaways Over 54% of market-rate apartment renters renewed leases in the year ending October 2024, up 120 bps from the previous year. With record-high apartment supply, retaining tenants has become critical to maintain occupancy. Renewal rates rose sharply in Minneapolis, Detroit, and Seattle but fell notably in high-supply markets like San Diego and Austin. As reported by GlobeSt.com, renewal rates for U.S. apartment leases have reached a historic high, with more than 54% of renters choosing to stay in their units, according to a RealPage study. This marks a 1.2% increase YOY and reflects a broader long-term growth trend in lease renewals. Before the pandemic, the national... Read more
Imagine this: You’ve spent months revamping your apartment website and are investing more in digital ads. Your traffic and lead data show that your new marketing...
The Fair Housing Act (FHA) requires property managers to provide reasonable accommodations for residents with disabilities to ensure equal access and enjoyment of their...
National REITs like Avalon Bay Communities and local investor-operators have completed many ADU projects, are pleased with the results, and plan to keep building...
The multifamily vacancy rate fell to 5.3% in the third quarter, down from 5.5% at the end of June, according to CBRE. Renters absorbed 153,300 units, one of the highest...
ADUs (Accessory Dwelling Units) and tiny houses have become distinctive living solutions in compact living. Understanding these options’ differences is crucial for downsizing or seeking an alternate living space. ADUs are additional living units on the same property as the main house. They can be converted garages, basement apartments, or separate cottages. ADUs allow homeowners to expand their living space and generate rentals while maintaining the privacy of both units. On the other hand, tiny houses are compact living spaces intentionally designed to be small and efficient. These houses often feature a minimalist lifestyle, where every inch and corner is maximized for... Read more
Luxury: Anything conducive to physical comfort. The enjoyment of sumptuous living. — The American Heritage Dictionary of the English language, New College...
A new law was recently signed by Governor Healey in Massachusetts that aims to protect tenants from the negative impact of eviction records. This law, part of the...
Across the country, the arrival of new units will affect occupancy, rental rates and operations in 2025. As we contemplate the opportunities in multifamily, we simply...
Finding an apartment in a major U.S. city for less than $1,000 per month has become more difficult lately, but in some metros, such as Oklahoma City and Pittsburgh,...
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