Sunday, April 28, 2024

Apartment watch

Things to watch, what to know, in your apartment operation

sustainability technology evolves as does that of mobile phones

The tech it is a changin

I do not particularly care for the movie “Pretty Woman”, but I do think it provides an important frame of reference. Specifically, there is a scene in which one rich character uses a cell...
HUD sets new Section 8 income rule

New Section 8 income rule would cap rent growth for LIHTC properties

On January 9, HUD proposed changes to how they calculate Section 8 income limits. The summary of the change as posted on the Regulations.gov website read in part: “The United States Housing Act of...
multifamily CMBS delinquency rate rises

Multifamily CMBS delinquency rate slightly higher in March

Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose slightly in March, increasing 3 basis points. Overall CBMS delinquency rate declines For delinquencies, Trepp focuses on loans that are 30 or more...
NMHC top 50

NMHC 50 recognizes industry’s top firms

The National Multifamily Housing Council (NMHC) released their 2024 list of the largest firms in the US multifamily housing industry. The firms are ranked by units in buildings with 5 or more units. The...
job openings

Construction job openings at near record high in February

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in February was 8.76 million. This was reported to be down 8,000...
new residential construction

Multifamily construction spending continues decline in February

The Census Bureau’s report on construction spending said that multifamily residential construction spending in February was down 0.16 percent from the revised level of the month before. Single-family residential construction spending was reported to...
multifamily property prices decline again

Multifamily property price slide continues

CoStar reported that its value-weighted index of multifamily property prices fell 1.4 percent month-over-month in February 2024, the sixth decline in a row and the 17th decline in the last 19 months. This index...

New study from RealPage reveals portfolio-wide gap in leasing fraud protections

RealPage released its 2024 National Multifamily Fraud Research Study: Uncovering the Impact of Rental Application Fraud in Multifamily this month. The study reveals portfolio-wide gaps in leasing fraud protection, with 75 percent...
shining a light in the darkness on sustainability

Shining a light on sustainability

“You cannot manage what you do not measure.” –Peter F. Drucker. I cannot tell you the number of times I have seen or heard that quote applied to the importance of benchmarking for sustainability. If...
positive rent growth in March

Rent growth again positive in March

The latest rent report from Apartment List shows that the national median monthly rent growth in March was +0.6 percent, the second consecutive gain after several months of declines. Year-over-year rent growth was -0.8...
cost of homeownership versus renting

Renting cheaper than buying in top metros

A new report from Realtor.com finds that renting a starter home is less expensive than buying one in all 50 of the largest metros in the United States, sometimes by a wide margin. Assessing rents...
multifamily property prices slide

MSCI: Multifamily property price decline continues

The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.0 percent from their level of the month before in February. This is much faster than last...
the good stuff is at the bottom in solar power contracts

The good stuff is at the bottom

As a child, I loved it when my grandmother would pick my brother and me up for an afternoon playdate. It was the best. My grandmother was indescribably beautiful, exuded love, spread laughter and...

1.1 million apartments occupied since 2020

National apartment occupancy hit a 10-year low at the end of 2023, while demand reached its highest point since Q2 2022 and continues to be strong. The number of occupied apartments in...
jerome Powell leads discussion of Fed Funds rate changes

Fed raises rate forecast for 2025

Federal Open Market Committee (FOMC) met this week and decided to keep the Fed Funds rate unchanged. However, the Federal Reserve’s updated forecasts for key economic metrics projected that interest rates after 2024 will...
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