Apartment Investment Sales Will Rebound in Time
by Scott Lebenhart
Rising interest rates and volatility have been major contributors to the slowing pace of multifamily property sales, which is expected to continue for some time. However, it may be sooner rather than later that the industry will regain appeal among investors. While rent growth and vacancies are below historic levels of the past few years, multifamily fundamentals remain sound.
Pressure on Property Managers to Maintain Profits
by Patrick Sisson
Multifamily owner/operators are facing cost-cutting measures as the industry continues to find its foothold in the changing economy. While technology is helping, communities require the presence of humans, and property managers are facing increased pressure to help maintain profits.
One in Three Buildings Ripe for Residential Conversion
by Philippa Maister
Nearly 9,000 of the 26,000 office buildings in the top 10 U.S. markets and the top four Canadian markets are candidates for conversion to housing. These buildings meet the age and floor plate requirements for the switch, but developers also need to consider costs and feasibility.
Not All Centralization is Created Equal: Mastering Maintenance
by Lucas Haldeman
Centralization of maintenance teams is critical for overall centralization efforts, not just introducing efficiency but also contributing to resident satisfaction. Maintenance teams are able to receive requests from wherever they are, save time on responses and residents appreciate the contactless experience that is provided. Smart technology is also helping to diagnose problems before a complete failure occurs, adding to the cost benefits for owner/operators.
Many Paths to Efficiency: Taking the Centralization Plunge
by Paul Willis
Onsite property and maintenance teams have long been the norm within multifamily, but centralization has helped to shift the mold in some locales. Forward-thinking owner/operators are beginning to see the benefits of centralizing their teams, as well as discovering previously unrealized ones.
Read the article in UNITS
Quick Tips for Reputation Management
by Jessica Fiur
A community’s success can hinge on what residents are saying about it and proper reputation management. With renters increasingly seeking reviews to assist with choosing a new home, the MHN Executive Council shares tips on how to keep a property shining bright digitally.
Read the article in GlobeSt
72% of Renters Say They’ll Never Be Able to Afford a Home
by Leah Draffen
A large majority of multifamily residents believe they will remain “forever renters,” according to a recent survey by Home Bay, and 66% say the current level of prices makes them feel hopeless about home ownership. Respondents have calculated they would need to add an additional $75,000 to their annual income to afford a home in 2023. More than a quarter indicated that the American dream of owning a home is dead.
Apartment Transactions Pull Back Further
by Christine Serlin
A coming wave of supply mixed with economic uncertainty has investors concerned about putting their funds into multifamily, according to a report by the National Multifamily Housing Council. A majority believe that the recovery is headed for a bumpy or hard landing.
Read the article in Multifamily Executive
As Expected, Fed Rolls Out Another Rate Hike
by Jordana Rothberg
A tenth interest rate increase by the Fed was announced as the government continues efforts to rein in inflation. The most recent hike requires a recalibration for multifamily and brings more uncertainty to the industry, which is still dealing with the effects of the previous nine increases.
Read the article in Multi-Housing News