Property Management News
Most operators see ‘ROI’ and think occupancy or rent growth: ‘I pay X, so I expect Y increase.’ With virtual tours, the financial ROI is unquestionable. Vacancies cost hundreds per day—far more than the cost of producing virtual tours, investing in an AI chatbot, or hiring more leasing staff. And each signed lease resulting from a virtual tour represents a return many times greater than that. But with virtual tours, there’s more to ROI than just dollars. Virtual tours deliver an operational ROI that’s harder to track in a spreadsheet—but arguably more valuable. They make: Leasing teams → happier and more efficient Renters → more qualified and... Read more
The rental housing market has always been influenced by changing consumer expectations, lifestyle shifts and innovation. In recent years, smart home technology has...
Key Takeaways Insurance premiums for multifamily properties are rising at nearly 12% annually—outpacing inflation and overall expense growth. Stricter lender...
Key Takeaways Rent payments rose to 83.5% in October, marking a second consecutive month of improvement. Late payments remain elevated, exceeding 10% for nine straight...
Say hello to the new wave of renters. The youngest renter generation — Gen Z — is growing up. Members of this generation, born between 1997 and 2012, are leaving the...
Key Takeaways National rent growth is stalling, with average rents declining 0.3% in September — the steepest drop for that month in over 15 years. Oversupply of new apartments is weighing on landlord pricing power, particularly in markets like Austin, Denver, and Phoenix. Tenant concessions are at record highs, with 37% of September leases offering perks like months of free rent or paid move-in costs. Young renters are feeling job market strain, with unemployment for those aged 20–24 at 9.2%, pushing some to delay moving out or seek roommates. Slowdown Continues The WSJ reports that US renters are in an unusually strong position, with rents either flattening or falling across much... Read more
Nationwide, renters who move to a different apartment within their area in under two years represent 38% of all apartment renters on the move, according to new data...
The Problem with Today’s Apartment Websites Lucy opens her ChatGPT app and types in this prompt: “I’m moving to Kansas City, Missouri next month for...
Only a handful of the nation’s largest apartment markets have achieved uninterrupted year-over-year rent growth over the past five years—and most of them are in...
Key Takeaways US average multifamily rent fell by $6 to $1,750, the largest September drop since 2009 and the worst monthly decline since late 2022. A glut of new...
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