The biggest multifamily storylines this week: allowing renters to pay more flexibly, cultivating culture, welcoming more pets for business reasons, status of emergency rental assistance, multifamily investment volume in the south and Twitter’s acquisition of Quill.
This week’s top multifamily storylines: study shows more renters moved in 2020 despite the pandemic, the complexity of apartment companies requiring vaccines, average rent due to exceed $6K for those behind on rent, LeaseLock hits $1B in leases insured, Lincoln gets ready to acquire Excelsior Multifamily and affordable housing set to get a boost from Biden’s infrastructure plan.
The top multifamily headlines this week: COVID’s impact on rent varies by neighborhood, the most common mistakes of a smart home retrofit for multifamily, smart access control provides assistance during pandemic, the top markets for apartment net absorption, the extension of the federal eviction moratorium and the strength of affordable housing lending.
Among this week’s most interesting multifamily storylines: utilizing tech without sacrificing personal connections, reflecting on multifamily’s COVID-19 response, package solutions that might be causing more problems, a look back at the last decade of multifamily transactions, the apartment markets dominating the pandemic era, and amenity must haves as the lockdown ends.
SightPlan has announced its acquisition of InfoTycoon, a digital due diligence provider. SightPlan intends to use InfoTycoon’s existing due diligence to extend its existing service platform. This will allow the platform to provide a combined solution that covers the entire property life cycle.
Self-guided tours were inching their way toward the multifamily mainstream before the coronavirus hit. Now, with the need for social distancing still here, they’re much more common across the apartment industry. This is a solution that is here to stay.
LMC, a leader in apartment development and management with a vast portfolio of luxury apartment homes across the U.S., officially rolled out the PetScreening platform in June. The wholly-owned subsidiary of Lennar Corporation now offers the service across its portfolio.
Mill Creek Residential, a leading multifamily investor and operator specializing in apartment communities across the U.S., compelted the groundbreaking of Modera Marshfield, a garden-style community. First move-ins are anticipated for late 2020.
Mill Creek Residential, a Florida-based developer, has broken ground on Modera Creative Village, a 292-unit luxury multifamily property in the Orlando. Amenities include a fitness center with a yoga area and classes, a pool and an outdoor courtyard lounge.
With the arrival of May, more than half of the states are starting to open up to one degree or another, with the rest making plans to do so in the near future. And as the country inches out of lockdown mode, we continue to see improvement in the leading indicators of traffic and leases.