Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced the start of preleasing at Modera River Trail, a contemporary mixed-use apartment community located in the thriving Seattle suburb of Redmond.
A strong, positive credit history is essential to securing car loans, credit cards and mortgages – and to doing so at favorable interest rates. Unfortunately, unlike homeowners, apartment residents traditionally have not gotten credit on their credit reports for making their rent payments on time and in full.
Birchstone Residential today announced the addition of Keith Hughes as vice president of construction. The hiring of Hughes is emblematic of Birchstone’s continued growth as it assumes management responsibilities of apartment communities in the Sunbelt and the Southeast.
The rent-to-income ratio, one of the primary underwriting measures of a renter’s ability to succeed in a home, is being challenged. Renters’ income is dynamic and volatile. As a renter’s income evolves, so must our tools that enable property managers to best empower renters to succeed in the home.
A top-notch investor relations program is critical when foraying into multifamily investments. Unfortunately, it’s not completely unheard of for some multifamily firms to treat their investors as if they are fortunate to simply be along for the ride.
An increasing number of multifamily owners and operators are looking to expand in build-to-rent single-family housing because the single-family asset class is on track to outperform other real estate sectors over the next decade. Suburban Sun Belt markets, specifically, present the most overlap.
It’s easy to forget that self-guided tours long been an important part of the professionally managed single-family rental space. Single-family operators have been leaving keys in drop boxes for residents to independently peruse homes for several years.
With 2020 firmly behind us, apartment owners and operators have reasons to be optimistic about the road ahead. The pandemic has undeniably presented major economic challenges for many, but the average credit score in the U.S. increased by 1% in 2020, according to Experian.
Part of the charm of the multifamily industry is that a wide variety of tactics can be used to achieve results, and virtually every operator has a unique strategy. Those divergent methods certainly apply to how operators handle their construction processes, as well.
As more and more communities allow pets onsite, most operators are seeing an uptick in assistance animal accommodation requests. It’s no secret that there are bad actors trying to pass their pets off as assistance animals to circumvent pet fees and restrictions.