Property Management News
For much of the past decade, success in multifamily real estate followed a simple formula: Buy a property with cheap debt. Raise rents. Sell. Rinse. Repeat. But that strategy is running up against today’s realities. High interest rates and escalating operating costs are squeezing margins. Rent growth has slowed to near zero in many markets, a sharp reversal from double-digit increases in the post-pandemic peak. “We’re entering a period where it’s less about financial engineering and more about operations,” says Matt White, CEO of Basin Street Properties, which owns and operates more than four million square feet of office, multifamily, industrial,... Read more
The national median rent increased by 0.5% in April, and now stands at $1,370. This marks the third straight monthly increase, as the market gears up for the busy...
KEY TAKEAWAYS Two-bedroom apartments posted the largest year-over-year rent decline at 1.7%. Overall multifamily rents have fallen for over 30 consecutive months...
For nearly all renters, Wi-Fi, that four-letter word, has evolved from a nice-to-have perk into a necessity. “Wi-Fi is now treated like the ‘fourth utility,’”...
Renters make small decisions fast. Before they ask about the lease terms, before they compare the square footage, before they picture where the sofa might go, they’ve...
Stop “Showing” Apartments. Start “Experiencing” Them! Are your leasing agents just glorified key-holders? If your standard tour consists of walking into a unit, pointing, and saying, “Here’s the kitchen,” you are missing a massive opportunity. In today’s market, prospects aren’t just looking for four walls and a roof; they are looking for a lifestyle. They are looking for a home. To double your closing ratio, you need to transition from “showing” apartments to facilitating an “experience.” The “Tour That Teaches” isn’t about lecturing your prospects; it’s about guiding them through a... Read more
Key Takeaways Miami saw the largest rent increase among major U.S. cities, with average rents rising 53% since 2020 to reach $2,645 in January. Fast-growing Sun Belt...
A new survey of renters shows speed and ease matter the most in the renting experience at the same time long-term renting is becoming a deliberate housing strategy for...
KEY TAKEAWAYS Rental fees are increasingly regulated to address high upfront housing costs. Caps on application fees and security deposits are now common in several...
Up-front rental costs — from application fees to broker commissions — are adding thousands of dollars to move-in expenses, exacerbating affordability challenges...
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