Apartment Business Update
A quarterly newsletter covering investment trends in the apartment industry.
NAA Releases 2022 Diversity, Equity and Inclusion Survey
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Diversity, Equity, and Inclusion (DEI) affects the retention and recruitment of employees and bottom-line performance in the rental housing industry. These issues have taken on even greater significance as employee turnover continues to increase and finding new employees remains challenging. …
Misunderstandings of Multifamily Revenue Management
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Revenue management has come under scrutiny during the past several weeks. Dom Beveridge, Principal with multifamily technology consultancy firm 20 for 20, reviewed the misunderstandings surrounding revenue management software in a recent article.Beveridge defends the use of the software: “…
Record Rent Decline in November
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Rents declined for the third straight month in November. According to the December 2022 Apartment List National Rent Report, the national index dropped 1% during November, which is also the highest monthly decline on record, dating back to 2017.Rent growth to date in 2022 is up 4.7%, which is…
Airbnb Launches Apartment Listing Service
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Airbnb is in the apartment listing service business with its new offering: Airbnb-friendly apartments. The company announced more than 175 Airbnb-friendly apartment buildings are available to search in more than 25 U.S. markets.The Wall Street Journal reports 12 companies are part of the new…
Haven Realty, JP Morgan Announce $1B BTR Joint Venture
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Haven Realty Capital, a privately held real estate investment and operating firm focused on single-family developments, and the real estate investment platform of J.P. Morgan announced a $1 billion build-to-rent (BTR) joint venture with $415 million in equity.“The for-sale housing market has been…
What’s All This Talk About Revenue Management and Antitrust Violations?
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Recently, the courts, the Department of Justice (DOJ) and federal policymakers have taken an interest in the rental housing industry’s use of revenue management tools. Considering this increased scrutiny of the industry, it is important to understand how antitrust laws come into play. …
Apartment Conversions Pick Up Steam
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Office to apartment conversions have led the way for adaptive reuse projects during the past two years. According to a recent report from RentCafe, the adaptive reuse of office buildings is at an all-time high with 11,000 apartment conversions in two years—77,100 apartments total are currently…
2023 Multifamily Loan Purchase Caps Announced
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The Federal Housing Finance Agency (FHFA) announced 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac. The combined total for the Enterprises is $150 billion—$75 billion each.The limit is a $3 billion decrease from the $78 billion caps in 2022, which FHFA called an “anticipated…
Renters Overtake Homeowners in 101 Zip Codes
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With the cost of owning a home rising, some across the U.S. are looking at other alternatives, which includes renting. This phenomenon was reflected in a recent study from RentCafe, which shows 101 zip codes have flipped from homeowner majority to renter majority in the last 10 years.The share of…
Property Tax Increases on Horizon for Rental Housing Providers
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Property tax increases are coming and are impacting the rental housing industry across the Sun Belt.A recent article from Bloomberg reviews several companies in the industry and what they expect to see regarding the increases. American Homes 4 Rent and Invitation Homes both said property taxes will…