Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
NMHC Names New Chair, Secretary
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The National Multifamily Housing Council (NMHC) has named James H. Schloemer, Chief Executive Officer of Continental Properties Company, has its Chair for the 2024-24 term. Antonio Marquez, Principal and Managing Partner of Comunidad Partners, joins as Secretary for the two-year term.
"As rental…
Stockbridge MORE Adds 3,000 BTR Homes in 2023
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Stockbridge MORE Communities, a joint venture between investor Stockbridge and management team MORE Residential formed in 2021, expanded with the acquisition of 17 communities with more than 3,000 homes in 2023. The communities are branded as Covey Homes.
"This venture continues to fund the…
Apartment Rental Application Fraud Omnipresent, Increasing
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Fraud in the rental housing industry continues to affect businesses and professionals. According to a new survey of National Apartment Association (NAA) and National Multifamily Housing Council (NHMC) members, 93.3% of the 75 owner, developer and manager respondents reported experiencing fraud in…
Congress Avoids Shutdown, Unveils Bipartisan Tax Package
By Greg Brown and Maria Spencer | | Updated
On January 18, 2024, the U.S. House and Senate passed a temporary extension of government funding until March to avoid a government shutdown. Additionally, Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) unveiled a compromise tax…
Offices Continue Conversions into Apartments
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More than 55,000 office-to-apartment units are expected to be created in 2024. This is up 10,000 units from 2023, according to new research from RentCafe. And while the level is a record, the margin of growth year-over-year is shrinking. There were 12,100 such units in 2021; 23,100 units in 2022;…
NMHC Releases Updated Rent Regulation Report
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Rent regulations and other rent-controlling factors have the opposite impacts of their intended purposes. An updated study from the National Multifamily Housing Council (NMHC) shows rent control hurts renters searching for affordable housing and benefits higher-income renters.
“Analyzing recent…
Apartment Supply at Decades High
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Apartment supply is at a historic level following a large delivery of completions in 2023. Supply hit a 36-year high, according to RealPage Analytics, with 440,000 units completed last year. However, completions are expected to decline following this year due to the drop in starts.
Supply and…
Southern States See Most Resident Movement
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The South and Sun Belt continue to see an influx of migration. The recently released U-Haul Growth Index for 2023 shows Texas topped the list for the third consecutive year. Florida (second for the third straight year), North Carolina, South Carolina and Tennessee rounded out the top five states…
Rent Growth Declines Close Out 2023
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Year-over-year (YoY) rent growth continues to stall. According to the January 2024 Apartment List National Rent Report, December was the fifth straight month of negative rent growth, which is down 0.8% during the month. YoY rent growth was at -1%.
Seasonally, this is not unexpected as the colder…
Multifamily Delinquencies Increase in November
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Multifamily delinquency rates are on the rise, while single-family rates continue to remain constant. Monthly data from Fannie Mae and Freddie Mac show delinquencies ticked up slightly in November.
The Multifamily Serious Delinquency Rate from Fannie Mae increased three basis points from 0.44% in…