Buildium writes about the seven rental market trends for 2023 that the company is seeing in its annual property management and industry report and analyses from leading real estate sources in the industry. The company reports that over the last two years, many property managers’ business plans “were reactionary”, keeping their businesses afloat amid lockdowns,…
The below information is from the City of Oakland’s website. The Oakland City Council has adopted a requirement to establish a rent registry for all units subject to the Rent Program Fee. As of March 1, 2023, owners of these units will be required to report rent and tenancy information to RAP on an annual…
As more multifamily operators venture into the single-family rental market, (SFR) and build-to-rent arena, (BTR) they’re moving not only into a new real estate sector but a new renter demographic, as well. Prospective renter preferences and expectations vary significantly, as do renter profiles, between the multifamily and single-family space. Operators must market and manage accordingly…
Housing experts say they’re expecting the market to tip back into the buyers’ court by 2023, according to a new report. The housing market will shift in favor of home buyers by the end of 2023, according to 44% of 107 economists and housing experts polled by real estate company Zillow for its newly published “Home…
Staying competitive and sticking to the basics in multifamily communities means showing residents how much on-site and property management teams care. In today’s market, we continue to see high demand in the multifamily rental industry, yet the basic priorities remain in place: leasing up properties, staying competitive, and providing quality housing. New communities have the latest…
Desperate times call for desperate measures, and times are, arguably, increasingly desperate. The persistence of high inflation might force the Federal Reserve to resort to the biggest increase in a key U.S. interest rate in more than 40 years. After another dismal inflation report (see below), economists predict a full-percentage-point increase in the Fed’s benchmark…
While the housing market has been cooling off mostly due to higher interest rates, the rental market is white hot! Bidding wars on rentals are driving up the market for newly listed properties. When the pandemic hit, we had historically low inventory throughout California, historically low interest rates and huge buyer demand. This resulted in…
Washington, D.C. – Amidst demographic shifts and lingering pandemic impacts on the population and broader economy, the U.S. faces a pressing need to build 4.3 million new apartments by 2035, according to a new study commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA). Based on research conducted by Hoyt Advisory…
Tenants are thinking a little differently now post-pandemic, so what are the 3 most important things to tenants and what things in rentals are they are looking for these days? There is no argument that the best tenants are the ones who pay rent on time, have long-term leases, and respect the properties they occupy. As…
During the pandemic interest rates were at an all-time low with many property owners locking in a 30-year fixed-rate mortgages at a 2 – 2.5% interest rate. Exceptionally low interest rates combined with historically low inventory contributed to the real estate market in California appreciating at an average rate of 20% year-over-year. The housing market…